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PIMBs Briefing - Summer 2016

7th July 2016

Welcome to our Summer Briefing for professional institutes and membership bodies.

While it may be tempting to step away from your desk to indulge in the summer of sport which is already underway, there are some important changes that impact the sector and we hope you find the articles interesting.

In this edition we look at updates from the Financial Reporting Council on corporate governance as well as changes in International Financial Reporting Standards on lease accounting.

Our tax team have provided updates on some of the wider issues that will affect the sector in the years to come, including the replacement of the P11D Dispensation Agreement with the Business Expense Payments Exemption (BEPE) and the Apprenticeship Levy. Nick Bustin who heads our Employment Tax team explains what has changed and what we need to consider.

Phil Salmon, Head of VAT, takes us through the major changes to the way VAT will apply to cross border transactions and how the VAT landscape is changing.

For those of you that have charitable status and carry out non primary purpose trading through a trading
subsidiary and profits are donated to the charitable parent company, we explore the updated guidance issued by the ICAEW and HMRC on this arrangement.  Anna Bennett explains the changes. While our Head of Tax Katharine Arthur looks at whether changes in taxation of dividends will impact Gift Aid for charities.

We have also included a summary of the guidance issued regarding the People with Significant Control register.

If you have any feedback on this edition of the PIMBs briefing, or wish to discuss any of the matters raised, do contact one of our team.

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