Sara White

Sara White

Sara White is editor of Accountancy magazine and CCH Daily incorporating Accountancy Live, published by Croner-i Ltd, and is responsible for the Accountancy portfolio which includes monthly print magazine Accountancy, online and digital news service, email newsletters and social media at @accountancylive on Twitter. Any comment and feedback is always welcome so do not hesitate to get in touch by email

Tax / Budget 2017: Making Tax Digital for VAT cost assessment due

In a Budget bereft of detail on Making Tax Digital, the government did confirm that it will release a revised costings document on the impact of the introduction of the VAT reporting changes on 1 December

Tax / Budget 2017: corporation tax rate remains 19%

Plans to reduce the corporation tax rate to 17% from 2020 will be kept with the current 19% rate remaining unchanged, the Chancellor has confirmed

Tax / Budget 2017: close companies gateway to tackle disguised remuneration

As part of the clampdown on abuse of disguised remuneration by company directors, the government plans to introduce further measures in Finance Bill 2018 to tackle existing, and prevent future use of, disguised remuneration tax avoidance schemes 

Tax / Budget 2017: Gift Aid donor benefit thresholds simplified

After a review of the Gift Aid donor benefit rules, the government announced plans in the Budget to simplify the rules for charities using donor tax relief and realign existing thresholds to a simpler two-tier system

Tax / Budget 2017: VAT threshold frozen until 2020

The VAT threshold has been frozen at £85,000 for the next two years to give the government time to review the current system and consider proposals for reform

Tax / Budget 2017: ATED rates set to rise in line with inflation

The annual chargeable amounts for the annual tax on enveloped dwellings (ATED) for properties over £500,000 held in companies will be increase by 3% 

Tax / Budget 2017: CGT indexation allowance to be frozen at Dec 2017 RPI

In a surprise move, the Chancellor has announced plans to freeze the capital gains indexation allowance and set it in line with Retail Price Index (RPI) fixed as of December 2017 and it will not be reviewed monthly as the current practice

Tax / Budget 2017: VAT refunds extended to Scotland police and fire

For the first time, the Scottish Police Authority and Scottish Fire and Rescue Service will be able to recover VAT incurred on their purchases, the Chancellor confirmed in the Budget

Tax / Budget 2017: higher rate SDLT rules clarified for divorce-related sales

The Chancellor has introduced a measure to grant relief from tax due under the higher rates of stamp duty land tax (SDLT) in certain cases, including where a divorce related court order prevents someone from disposing of their interest in a main residence

Tax / Budget 2017: stamp duty sub-£300k purchases abolished for first-time buyers

From 22 November 2017 first time buyers paying £300,000 or less for a residential property will pay no stamp duty land tax (SDLT), saving up to £1,500 on their first home purchase

Tax / Editor's comment: the dilemma of VAT reform

There have been rumours that the Chancellor could lower the £85,000 VAT threshold in tomorrow's Autumn Budget which would come as a blow to small businesses, who currently stall growth and tread water at £84,000 to avoid a VAT charge, explains Sara White, editor of Accountancy

Audit / Big Four could face £10m-plus regulatory fines

Big Four firms should face fines of £10m or more for poor quality audit work, while individual accountants guilty of dishonesty could be given 10-year bans, according to an independent review of the Financial Reporting Council’s (FRC) enforcement sanctions, which also calls for a greater focus on non-financial penalties

Audit / FRC revises Practice Note 11: audit of charities in the UK

The Financial Reporting Council (FRC) has issued a revision of Practice Note 11: The audit of charities in the UK, which extends guidance in problems areas including risks of material misstatement, and streamlines other areas to ensure compliance with existing auditing standards

Tax / Requirement to Correct tax due on offshore assets

HMRC has issued guidance on how to comply with new Requirement to Correct rules designed to clamp down on individuals with undeclared offshore assets and highlighting the penalties for non-compliance

Tax / Uber loses appeal on payment of national minimum wage to drivers

In a blow to one of the largest operators in the gig economy, Uber has lost its appeal to overturn last year’s Employment Tribunal decision that its drivers should be paid the national minimum wage and holiday pay, which could result in a hike in NICs payments for the company