The Taylor review of modern working practices was published this week and has been hitting the headlines. The review, led by Matthew Taylor, chief executive of the Royal Society of the Arts, outlines seven principles for “fair and decent work” in the UK economy. The recommendations will be of particular importance not only to businesses that engage people in the gig economy, but any employer that relies at all on off-payroll workers. Click here to read the report in full.
In the meantime, we’ve been shining the spotlight on the future of diversity and inclusion which is becoming an increasingly important conversation throughout all levels of an organisation. We bring you two new reports on this topic, based on cross-industry surveys of business and HR leaders globally:
- No holding back: Breaking the barriers to diversity
- Magnet for Talent: Managing diversity as a reputational risk and business opportunity
In other news, two key announcements have been made in a joint press release from HMRC and HM Treasury. Ministers have unveiled a new timetable for Making Tax Digital, whilst also confirming that the Finance Bill will be introduced as soon as possible after the summer recess. Click here to find out more.
Finally, to keep you up to date with all other news this week, we have our editor’s picks below, along with industry-focused newsletters and upcoming key dates.
Have a fantastic weekend.
The latest on My Taxpartner this week.
The ECJ has held that a Member State cannot altogether deny a taxpayer interest as compensation for a delay in receipt of a VAT refund because the taxpayer was partly responsible for the delay.
The Supreme Court (SC) began hearing HMRC's appeal in this case on 4 July 2017. On 5 July, the SC halted proceedings, indicating that it was inclined either to find in favour of HMRC on both of the issues before it, or to refer questions to the ECJ on the meaning of "adequate indemnity". The SC indicated that it will give its decision after the summer recess.
On 22 June 2017, the OECD released two public discussion drafts providing further guidance on the Final Reports on Base Erosion and Profit Shifting (BEPS) published in October 2015, both replacing previous drafts released on 4 July 2016 which were subject to public consultation on 11-12 October 2016.
The OECD published on 5 July 2017 a consolidated set of responses to its draft guidance on the implementation of the approach to pricing transfers of hard-to-value intangibles. The PwC reply starts at page 211.
The latest tax, finance and regulatory updates in the press this week.
This week’s press summary focuses on the proposals put forward by the Taylor review.
As the productivity of UK workers drops to pre-financial crisis levels, the economy is set for a slowdown.
The latest news in the world of finance, with Brexit a major theme this week.
Accountants and the self-employed are calling for clarity on IR35. Find out more in this week’s updates.
As the popularity of the workplace pension exceeds expectations, new research shows that millions of savers are failing to meet disclosure rules.
- 19 July 2017 - 2016/17 Class 1A NICs payment due
- 31 July 2017 - 2016/17 second payment on account due
- 24 August 2017 - Deadline for employment related securities returns