Employment rights

One of the arguments used in the Brexit debate is that the EU has provided employment rights. Had Theresa May brought back her withdrawal agreement for a fourth time, as she had planned, it would have included provisions to match employment rights subsequently adopted by the EU. There are two points to note about all […]

No tears for betting job losses

On 4 July 2019, William Hill said it will close 700 stores, about a third, with the loss of 4,500 jobs. Other betting companies have made similar noises. It blames this on the reduction on the maximum stake for fixed odds betting terminals (FOTBs) from £100 to £2 per game. A game takes 20 seconds. […]

Inequity of loan charge

My company website for Tax Training Ltd routinely reports avoidance schemes that fail. to Normally I have little sympathy for those who are caught. Usually they dishonestly sought to avoid tax and were found out. But I do have sympathy for many victims of loan schemes who have been hit by the loan charge from […]

Fiona Onasanya

On 1 May 2019, Fiona Onasanya, the Labour MP for Peterborough, became the first MP to be expelled from the House of Commons. She had been caught speeding. She claimed that someone else was driving when he was actually in Russia at the time. She was sent to prison for perverting the course of justice. […]

Keeping the pennies

In 2018, the government consulted on whether to scrap 1p and 2p coins. In May 2019, it decided not to. This is clearly the correct decision. The two arguments are that: coins are now much less used, with only 22% of retail transactions in cash 60% of these coins are only used once before being […]

VAT threshold

The VAT threshold has now been frozen at £85,000 a year since 2017 and is to be kept at that level until at least 2022. There had been talk of even reducing the threshold, perhaps even halving it to around £43,000. This would have created a huge amount of extra work for both HMRC and […]

Quality of audit

There has been much recent comment on the quality of audit. This includes suggestions that the Big Four accountants should be broken up, all FT-SE 100 companies should be jointly audited with a non-Big Four company and that auditors should be banned from doing consultancy work with clients they audit. Certainly, the Financial Reporting Council […]