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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

HMRC News

Detailed guide: Help and support for tax agents and advisers

Fri, Feb 22, 2019

Get help with online webinars from HMRC if you're an agent....

The Customs Safety and Security Procedures (EU Exit) Regulations 2019

Fri, Feb 22, 2019

This instrument forms part of legislation to be made under the European Union (Withdrawal) Act 2018 to ensure that, in the event of the United Kingdom (UK) leaving the European Union (EU) without a negotiated deal, the UK has a customs safety and security regime in place before the date of departure....

The Customs (Enforcement of Intellectual Property Rights) (Amendment) (EU Exit) Regulations 2019

Fri, Feb 22, 2019

The purpose of this instrument is to amend European Union (EU) regulations which are being brought into force in the United Kingdom (UK) by the European Union (Withdrawal) Act 2018 (EUWA). The instrument will ensure that UK legislation is in place after exit day (29 March 2019) enabling HM Revenue and Customs (HMRC) to continue to be able to enforce intellectual property rights at the UK border...

The Mutual Assistance on Customs and Agricultural Matters (Revocation) (EU Exit) Regulations 2019

Fri, Feb 22, 2019

The European Union (Withdrawal) Act 2018 will retain certain direct European Union (EU) law as it stands immediately before the United Kingdom (UK) leaves the EU. In the event that the UK leaves the EU without a deal, this instrument will revoke Council Regulation (EC) 515/97 on mutual assistance as this mutual assistance is based on an agreement which is limited to Member States...

The Customs (Economic Operators Registration and Identification) (Amendment) (EU Exit) Regulations 2019

Fri, Feb 22, 2019

The purpose of this instrument is to amend European Union (EU) regulations which are being brought into force in the United Kingdom (UK) by the European Union (Withdrawal) Act 2018 (EUWA). The instrument will ensure that the UK has a customs regime in place and ready to take effect from the date of departure to ensure registration of traders when the UK leaves the EU....

The Cash Controls (Amendment) (EU Exit) Regulations 2019

Fri, Feb 22, 2019

The purpose of this instrument is to amend retained European Union (EU) law to ensure that it works to collect information from individuals who are carrying cash in excess of £10,000 into or out of the United Kingdom (UK) in the event that the UK leaves the EU without an agreement...

Guidance: Find software suppliers for Stamp Duty Land Tax

Fri, Feb 22, 2019

Find recognised suppliers and software for Stamp Duty Land Tax (SDLT). ...

Detailed guide: Moving and declaring excise goods in the event the UK leaves the EU with no deal

Fri, Feb 22, 2019

If the UK leaves the EU on 29 March 2019 without a deal there will be changes to how businesses trading in excise goods (alcohol, tobacco and certain oils) move and declare these goods....

Detailed guide: Rates and thresholds for employers: 2019 to 2020

Fri, Feb 22, 2019

Use these rates and thresholds when you operate your payroll or provide expenses and benefits to your employees....

Detailed guide: Freight location codes for rail movements (Tariff Stop Press Notice 9)

Fri, Feb 22, 2019

Find freight location codes for rail movements have been added to the Customs Declaration Service and Customs Handling of Import and Export Freight Systems....

ACCA Tax News

The Chartered Institute of Taxation: News

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Reuters: Money

Your Money: Unhappy with your tax refund? Make your own!

Sat, Feb 23, 2019

One thing we have learned in the United States this tax season: Refunds make Americans happy - and not getting one, or getting a smaller one, makes them mad. ...

Third Point claims 300 percent return on activism since 2011

Thu, Feb 21, 2019

Pushing companies to perform better has earned Third Point a 300 percent return in the last eight years, the hedge fund told investors in a letter on Thursday, praising management at some of its... ...

Hedge funds hunt for shipping debt in new market push

Thu, Feb 21, 2019

(Corrects Feb. 20 story to remove incorrect reference to sale of loans by Varde and Oakhill) ...

How personal finance guru Jill Schlesinger got smart about money

Thu, Feb 21, 2019

Jill Schlesinger got her start on Wall Street, and that is where she learned a lot of what she knows about the financial world. But she has built a career dishing out personal finance advice by... ...

UBS to appeal after fined 4.5 billion euros in French tax fraud case

Wed, Feb 20, 2019

A French court found Swiss bank UBS AG guilty of illegally soliciting clients and laundering the proceeds of tax evasion, ordering it to pay 4.5 billion euros ($5.1 billion) in penalties. ...

UBS CEO says French appeals process to take 'several years'

Wed, Feb 20, 2019

UBS Group expects its appeal of a French court verdict ordering the Swiss bank to pay 4.5 billion euros ($5.10 billion) for aiding tax evasion to last years, Chief Executive Sergio Ermotti told staff... ...

Buffett's Suncor bet to revive investor interest in Canadian energy

Wed, Feb 20, 2019

Berkshire Hathaway Inc's re-investment in Suncor Energy Inc highlights the benefits of being an integrated oil company and could revive investor interest in the languishing Canadian energy sector,... ...

Stretch your retirement with this tax-saving strategy

Wed, Feb 20, 2019

Retirement strategy is about more than just how you will spend the money you have saved – it matters where that money is coming from too. ...

Bristol-Myers says Starboard nominated five directors, bought shares

Wed, Feb 20, 2019

Bristol-Myers Squibb Co said on Wednesday that activist hedge fund Starboard Value LP intends to nominate five directors to the U.S. drugmaker's board, one month after it announced a $74 billion deal... ...

Israeli VC Jerusalem Venture Partners raises $220 million for new tech fund

Wed, Feb 20, 2019

Venture capital firm Jerusalem Venture Partners (JVP) said on Wednesday it closed a new fund with investment commitments of $220 million. ...

Reuters: Business

Roche nearing $5 billion deal to acquire Spark Therapeutics: WSJ

Sat, Feb 23, 2019

Swiss drugmaker Roche Holding AG is nearing a deal to acquire U.S. biotechnology company Spark Therapeutics Inc, the Wall Street Journal reported on Saturday, citing people familiar with the matter. ...

Buffett appears to fault Trump, laments deals dearth in Berkshire letter

Sat, Feb 23, 2019

Warren Buffett on Saturday appeared to fault U.S. President Donald Trump for taking too much credit for the nation's economic growth, while acknowledging that market conditions are making it tough for his Berkshire Hathaway Inc to find more big companies to buy. ...

Southwest CEO says mechanics deserve new contract, but company wants 'flexibility'

Sat, Feb 23, 2019

Southwest Airlines Co's mechanics, who have been in labor contract talks for more than six years, deserve a new deal that makes them among the best paid in the airline industry, but the low-cost U.S. carrier needs "more supplier flexibility" in return, the company's chief executive said. ...

In a shift, Buffett says focus on Berkshire's stock price

Sat, Feb 23, 2019

Warren Buffett has long told investors in his Berkshire Hathaway Inc they should not pay so much attention to what its stock price is doing. ...

As trade deadline looms, U.S. and China sprint to seal a deal

Sat, Feb 23, 2019

U.S. and Chinese negotiators met for a fifth straight day on Saturday as the two sides race against a March 1 deadline to reach agreement and prevent a further escalation in their trade war. ...

Falling stocks, Kraft Heinz trigger huge Berkshire loss

Sat, Feb 23, 2019

Sinking stocks and deteriorating prospects from an investment in Kraft Heinz Co pummeled the bottom line of Warren Buffett's Berkshire Hathaway Inc, which on Saturday reported a huge quarterly net loss even as operating profit soared. ...

Warren Buffett says prospects poor for 'elephant-sized acquisition'

Sat, Feb 23, 2019

Warren Buffett is hunting for "an elephant-sized acquisition," but he is not optimistic about getting it done. ...

Trump says he's inclined to extend China trade deadline and meet Xi soon

Sat, Feb 23, 2019

President Donald Trump said on Friday there was "a very good chance" the United States would strike a deal with China to end their trade war and that he was inclined to extend his March 1 tariff deadline and meet soon with Chinese President Xi Jinping. ...

Microsoft workers demand it drop $480 million U.S. Army contract

Sat, Feb 23, 2019

Some Microsoft Corp employees on Friday demanded that the company cancel a $480 million hardware contract to supply the U.S. Army, with 94 workers signing a petition calling on the company to stop developing "any and all weapons technologies." ...

NY governor orders probe into Facebook access to data from other apps

Sat, Feb 23, 2019

New York Governor Andrew Cuomo on Friday ordered two state agencies to investigate a media report that Facebook Inc may be accessing far more personal information than previously known from smartphone users, including health and other sensitive data. ...