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Regulators request delay in corporate reporting March 25, 2020

Financial regulators have requested a moratorium on corporate financial reports for at least two weeks. The Financial Conduct Authority (FCA) is in talks with the Financial Reporting Council (FRC) and the Prudential Regulation Authority (PRA) about a package of measures to reinforce trust in the reporting system. These will be aimed at ensuring companies and
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HMRC delays introduction of off-payroll rules to private sector March 25, 2020

HMRC has delayed the introduction of off-payroll rules to the private sector as part of its measures to support businesses through the coronavirus (COVID-19) pandemic. The reforms will shift the responsibility for assessing employment status to the organisations employing individuals. The rules would have applied to contractors working for medium and large organisations in the
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Government unveils wage bailout scheme March 25, 2020

Chancellor Rishi Sunak has announced a major wage bailout scheme to cover the salaries of British workers hit by the UK coronavirus crisis. Under the scheme, the government will pay up to 80% of workers’ wages, up to a maximum of £2,500 a month. Any British business, no matter what size, can apply for a
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Buy-to-let landlords getting cold feet over sector regulation March 18, 2020

Buy-to-let landlords have turned negative on their investments due to higher taxes and greater regulation, according to research from property development firm Accumulate Capital. The research found that 37% of UK property investors are planning on selling one or more of the residential properties they own in 2020. Over half of landlords would not have
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HMRC to stop sending automatic paper returns for self assessment March 18, 2020

HMRC is stepping up its efforts to encourage digital returns by no longer sending automatic paper returns to self assessment taxpayers. The tax authority says this measure is part of efforts to encourage filers to take advantage of the online service and cut the unnecessary use of paper. Last year, 94% of HMRC’s customers filed
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