The accountancy sector is growing, whether it’s firms either looking for more clients or clients looking for more accountants!
Review Period: Dec 2013
So here it is, plain as day: there’s way too much tax avoidance going on right now, but much of it is coming from within the Government if you can believe it!
It’s tough being an accountant these days in the UK – and it doesn’t help that accountancy firms seem to find themselves in serious hot water all too easily.
It’s good news for the accountancy sector, as more and more reports are rolling in about how the next generation of accountants are launching their careers.
While Scotland’s finance secretary says that anyone purchasing a property in the country that costs less than £325,000 will benefit from a new tax scheme, the new so-called ‘mansion tax’ has been criticised by financial experts for raising the price on the most expensive properties in Scotland, it was recently reported.
HMRC has increased the amount of tax revenue it collects considerably over the last five years, but it could have brought in even more if it hadn’t reduced the number of people working in its compliance and enforcement teams.
HMRC has now published a technical note detailing the way it will deal with Income Tax in Scotland after the Scotland Bill received Royal Assent earlier this year.
It will probably come as no surprise to learn that taxation rates are edging up in EU member states. Official data from the EU shows that VAT rates are increasing as are corporate and high earner’s personal income tax rates.
Small businesses are still turning their backs on the government’s National Insurance Holiday scheme, according to a recent report in the Daily Telegraph.
A new study from the CIMA and the American Institute of CPAs suggests that finance professionals are being pressurized to act unethically.