AIA has been working hard with government, other professional bodies and regulators in the UK and European Union since 2016 to explore how Brexit will effect members and - as importantly - their clients.
AIA is a proud partner of the Northern Powerhouse, which brings together 300 organisations with the shared goal of boosting the Northern economy by investing in skills, innovation, transport and culture.
Now that Making Tax Digital (MTD) for VAT is in effect, it’s easier to reflect on HMRC’s digitalisation initiative with clarity.
Where before certain parts of the legislation initially appeared unclear, today we’re able to identify the exact responsibilities of both clients and accountants. Whether that’s knowing how to move your accounts online or selecting bridging software to ensure compliance, all parties now have the resources to stay on the right side of the taxman come tax return deadlines.
Transparency is vital for a robust and healthy economy.
However, there is substantial evidence of companies registered with Companies House being used to facilitate money laundering through a combination of simple incorporation and inadequate due diligence.
In the past couple of weeks, the Information Commissioner’s Office (ICO) has announced two high profile colossal fines for British Airways and Marriott Group under the tough new General Data Protection Regulation (GDPR). A warning sign we would urge AIA members to take on board.
GDPR was introduced into the UK on May 25, 2018 in order to modernise and harmonise data privacy laws across Europe, which protect the personal information of individuals. It was widely regarded as the biggest shake-up to data privacy for 20 years with all individuals, organisations and companies that are either controllers or processors of personal data are covered by the GDPR.