CA daily briefing: Thursday 19 December 2019
Your essential briefing of the morning's top news stories.
Good morning, Hilde Oesterkloeft here to give you the last daily briefing this year.
Spotlight on ICAS
Following the publication of Sir Donald Brydon’s final report on his Independent Review into the Quality and Effectiveness of Audit, this article summarises the recommendation for a redefinition of audit and its purpose.
Looking at the Scottish National Party’s strong performance in the general election, Donald Drysdale wonders what the tax implications might be for Scotland and the UK. The views expressed are his own and not necessarily those of ICAS.
Susan Cattell explains why all incorporated charities, regardless of size, need to think about the corporate criminal offence of failing to prevent the criminal facilitation of tax evasion and highlights the publication of some guidance which might help small charities.
Philip McNeill discusses a recent case - Unicorn Tankships (428) Limited – concerning tonnage tax and whether a shipping company was liable to a balancing charge on the sale of an asset. Of interest was the notion that HMRC thought to charge a balancing charge when there had been no earlier claim to capital allowances!
Today's top stories from around the web
- UK inflation holds below Bank of England target before rates meeting (Reuters)
- Hedge funds eavesdrop on Bank of England briefings (BBC News)
- Revealed: Testing delays mean Crossrail may not open until October 2021 (City AM)
- British Airways slumps to near bottom in passenger survey (The Guardian)
- Asian shares retreat from highs, markets take Trump impeachment in stride (Reuters)
- 5G mobile networks are not ready for primetime (BBC News)
- Donald Trump: US president to face Senate trial after impeachment (City AM)
- North Sea cod quota halved in response to climate change and dwindling stocks (The Independent)
- Queen's Speech: PM to focus on Brexit and NHS to reassure voters he will deliver election promises (Sky News)
That's all for today, check back on Monday 6 January 2020 for your next daily briefing.