35 new Tax policies introduced in UK Autumn Statement.
The UK Chancellor’s Autumn Statement has been released, potentially bringing some small benefits by way of a reduction in national insurance for millions of individuals and scope for accounting tax practitioners. Simon Brookings, General Manager, Tax & Accountant Professionals at Thomson Reuters stated, “The autumn statement includes some major departures in tax rules such as the abolition of Class 2 National Insurance and making permanent the full expensing of capital allowances. The proposed changes to tax over the next five years are considerable and accountancy firms will have to assimilate to 35 new tax policies. The financial risks of inaccuracy mean businesses are having to invest more in the technology needed to navigate tax compliance to ensure they don’t inadvertently fall foul of HMRC.”
In this issue, do read a Thought Leadership piece by Liza Robbins, Chief Executive at Kreston Global, on Private Equity investment into the accounting sector and the motivational trends that are transforming the industry; a feature on Value -Added accounting by Dext’s Paul Lodder discusses the value to be extracted from technology that could offer insights when onboarding new clients; Heads at Kreston Global firms describe the importance of adhering to ISQM to demonstrate the commitment of their member firms to delivering high-quality services; we hear from experts at Lovewell Blake Financial Planning on how, despite environmental campaigners making headlines this year with a bold orange tint, it’s not all black and white when navigating choices for ethical investing; Nidhi Jain, co-founder and CEO at CloudEagle, outlines key strategies CFOs can implement to optimise costs and enhance financial stability; Karim Mansour, Founder and CEO at Tadawul Academy, talks about providing CISI training in response to MENA regulators’ requirements for accountants to understand sustainable securities and investment products; Russell Gammon, Chief Solutions Officer at Tax Systems, comments that the complexities of tax computing are made easier with AI becoming a valuable co-pilot to the knowledgeable tax professional; Kris Cooper, Reporter at GlobalData, speaks to Translucent founder Michael Wood about the development of the CFO super app; and Laurent Charpentier, CEO at Yooz, unveils Finance Department trends from its research report “The State of Automation in Finance”.
There are rankings reports on Germany and France and further rankings tables for Italy. There is also the usual news round up.
Zoya Malik
Editor-in-Chief