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Daily News

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

HMRC News

Guidance: Employer Bulletin: October 2017

Fri, Oct 20, 2017

HM Revenue and Customs (HMRC) publishes the employer bulletin 6 times a year, giving employers and agents the latest information on topics and issues that may affect them. You can download and read the employer bulletin on screen or print it off. The employer bulletin is only available online. You can register for HMRC’s employer email alert service to receive emails from HMRC which tell you ...

Guidance: Solar modules and cells imported from China (Anti-Dumping Duty 2230)

Fri, Oct 20, 2017

Anti-Dumping Duty is an Import Duty charged in addition to normal Customs Duty and is applied across the whole EU. It is designed to allow the EU to take action against goods that are sold at less than their normal value - that being defined as the price for ‘like goods’ sold in the exporter’s home market. ...

Guidance: Genuine HM Revenue and Customs contact and recognising phishing emails and texts

Fri, Oct 20, 2017

Updated: This guidance has been updated to advise that reminder letters and emails are being sent to childcare providers to sign up to Tax-Free Childcare.Phishing is the fraudulent act of emailing a person in order to obtain their personal or financial information such as passwords and credit card or bank account details. These emails often include a link to a bogus website encouraging you to e...

Detailed guide: Recognised stock exchanges

Fri, Oct 20, 2017

Updated: The contact details for written queries about recognised stock exchanges has been updated. What is a ‘recognised stock exchange’ The term ‘recognised stock exchange’ occurs throughout the Taxes Acts and in various tax regulations. For example it’s used in the definition of investments which may be held in Individual Savings Accounts and in the qualifying criteria for the quoted Eurobo...

Form: National Insurance: apply for a portable document A1/E101 if self-employed in European Economic Area (CA3837)

Fri, Oct 20, 2017

Updated: Information about completing forms CA3821 and CA3822 if you're a director of your own limited company has been added.Use this form if you’re normally self-employed in the UK and going to work temporarily in another country within the European Economic Area (EEA). This form will enable HM Revenue and Customs (HMRC) to determine which member state’s social security legislation will apply...

Guidance: Double Taxation Treaty Passport Scheme Register

Fri, Oct 20, 2017

Updated: The Double Taxation Treaty Passport Scheme register has been updated with additional entries and deletions.If your company is registered for the Double Taxation Treaty Passport Scheme, your details will be made publicly available on this register. It will help borrowers verify a passport holder’s status. HM Revenue and Customs will add new lenders to this list at regular intervals. ...

Guidance: New and retreaded tyres imported from China (Anti-Dumping Duty 2237)

Fri, Oct 20, 2017

Anti-Dumping Duty is an Import Duty charged in addition to normal Customs Duty and is applied across the whole EU. It is designed to allow the EU to take action against goods that are sold at less than their normal value - that being defined as the price for ‘like goods’ sold in the exporter’s home market. ...

National Statistics: HMRC Tax Receipts and National Insurance Contributions for the UK

Fri, Oct 20, 2017

Updated: The table and bulletin have been updated to include the latest available receipts data.The published bulletin and table includes historical receipts on a monthly and annual basis for all HMRC taxes, as well as tax credit and child benefit payments. The bulletin also includes analysis and commentary on year-to-date receipts. They are published on the 15th working day every month at 9:3...

Guidance: Self Assessment technical specifications (2017): individual returns

Fri, Oct 20, 2017

Updated: The technical specifications Tax and National Insurance contributions calculation, Test case generator and Exclusion cases for software developers have been updated with the latest versions. Individual returns technical specifications for software developers working with the Self Assessment online service. ...

Guidance: Penalties for enablers of tax avoidance schemes: draft guidance

Fri, Oct 20, 2017

If you have any comments on this draft guidance, you can send them to HM Revenue and Customs (HMRC). Email: ca.consultation@hmrc.gsi.gov.uk by 30 November 2017. This supports new legislation in the Finance Bill 2017. HMRC will publish final guidance on enablers of tax avoidance schemes once the legislation has Royal Assent. ...

ACCA Tax News

The Chartered Institute of Taxation: News

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Reuters: Money

Ackman urges ADP to consider acquiring Ceridian amid proxy fight

Thu, Oct 19, 2017

BOSTON (Reuters) - Activist investor William Ackman, currently battling for board seats at Automatic Data Processing Inc , on Thursday said the human resource software company should buy rival... ...

Column: With U.S. elder abuse in spotlight, a look at guardians

Fri, Oct 20, 2017

CHICAGO (Reuters) - Are unsuspecting seniors around the United States being scooped up without warning from their homes, placed in nursing homes and having their possessions taken away? ...

Third Point takes stake in Dover Corp, urges changes: letter

Fri, Oct 20, 2017

BOSTON (Reuters) - Billionaire investor Daniel Loeb's hedge fund Third Point LLC bought a stake in Dover Corp during the third quarter and is urging the industrial conglomerate to sell off its energy... ...

Fidelity retirement funds warm to Canada, cool to emerging markets

Thu, Oct 19, 2017

BOSTON (Reuters) - Fidelity Investments has cut exposure to red-hot emerging markets stocks in its age-based retirement funds while putting more money into Canadian stocks and U.S. government bonds. ...

U.S. fund investors regain risk appetite as Dow breaches 23,000

Thu, Oct 19, 2017

NEW YORK (Reuters) - U.S. fund investors regained an appetite for risk over the last week, rushing into U.S. and emerging-market stocks, according to data on Thursday from Lipper. ...

E*Trade to buy custody firm in growth push as profits remain dull

Thu, Oct 19, 2017

NEW YORK (Reuters) - E*Trade Financial Corp plans to spend $275 million to acquire a firm that provides custody services and technical support to financial advisers, the discount brokerage firm said... ...

LPC: JDA, Surgery Partners add flexibility for future without Libor

Thu, Oct 19, 2017

NEW YORK (Reuters) - Companies are preparing for a future without a crucial lending benchmark, adding language to their leveraged loan documents that allow them to choose an alternative rate,... ...

Exclusive: Baupost's Klarman resists calls to wipe out Puerto Rico debt

Wed, Oct 18, 2017

BOSTON (Reuters) - Billionaire investor Seth Klarman on Wednesday resisted calls for Puerto Rico's debt to be wiped out and said the island's residents will be better off in the long run if... ...

Kenneth Chenault to step down as AmEx CEO after nearly 17 years

Wed, Oct 18, 2017

(Reuters) - American Express Co said its chairman and chief executive Kenneth Chenault would step down early next year, ending a nearly 17-year tenure at the helm of the No. 1 U.S. card issuer by... ...

New ETF has robots pick investments

Wed, Oct 18, 2017

The AI Powered Equity Exchange-Traded Fund , which launched in the United States on Wednesday, will use IBM Corp's Watson artificial intelligence technology to pick several dozen stocks with... ...

Reuters: Financial Services and Real Estate

S&P, Dow open at record highs on tax-cut optimism

Fri, Oct 20, 2017

(Reuters) - Wall Street opened higher on Friday, with the S&P and the Dow recording new highs, on growth optimism as the Trump administration inched a step closer to implementing its tax-cut plan. ...

Schlumberger, Baker Hughes warn of North America slowdown

Fri, Oct 20, 2017

(Reuters) - Schlumberger Ltd and Baker Hughes , the world's top two oilfield services firms, warned on Friday of a slowdown in North America and a challenging year ahead as crude oil prices stay volatile. ...

GE stock drops as profit misses, CEO cuts forecast

Fri, Oct 20, 2017

NEW YORK (Reuters) - General Electric Co's third-quarter profit missed Wall Street estimates by a wide margin on Friday and the industrial conglomerate slashed its earnings forecast, sending the year's worst-performing Dow stock down another 6 percent. ...

P&G's quarterly sales drag; Peltz still looms in board battle

Fri, Oct 20, 2017

(Reuters) - Consumer goods giant Procter & Gamble Co , which recently declared victory against hedge-fund manager Nelson Peltz's attempt to muscle his way onto the board, reported tepid sales that missed Wall Street estimates. ...

Low pay, no bonus: U.S. retailers struggle with hiring

Fri, Oct 20, 2017

(Reuters) - U.S. retailers are finding it increasingly difficult to hire employees for stores and for middle and higher management as low pay and a feeling of uncertainty clouds the industry following a spate of bankruptcies and store closures. ...

UK business minister travels to Canada for talks on Bombardier deal

Fri, Oct 20, 2017

LONDON (Reuters) - British Business Secretary Greg Clark will hold talks in Canada on Friday to discuss Airbus SE's plans to buy a majority stake in Bombardier's C-Series jetliner program aimed at helping it avoid high U.S. import tariffs. ...

BMW confirms inspection by EU antitrust officials

Fri, Oct 20, 2017

MUNICH (Reuters) - German carmaker BMW on Friday confirmed that EU antitrust staff were in Munich this week to search its offices. ...

Japan's Kobe Steel says violated statutory standards, losing customers

Fri, Oct 20, 2017

TOKYO (Reuters) - Kobe Steel Ltd sank deeper into crisis on Friday as the embattled company said it had lost some customers to competitors because of widespread data falsification that had extended to its mainstream steel sheet business. ...

Former Rio Tinto CFO Elliott resigns from Britain's Takeover Panel

Fri, Oct 20, 2017

LONDON (Reuters) - Former Rio Tinto chief financial officer Guy Elliott has stepped down from Britain's Takeover Panel following fraud charges brought by the U.S. Securities and Exchange Commission (SEC) related to his time at the miner. ...

Trump tax reform hopes boost dollar, stocks, bond yields

Fri, Oct 20, 2017

LONDON (Reuters) - European stocks, the dollar and bond yields climbed on Friday as investors speculated that the "Trumpflation trade" could be back in play, after the U.S. Senate approved a budget blueprint that paves the way for tax cuts. ...