ICAEW Insights In Focus: How can tax design better deliver tax policy?

Accountancy Insights

#Business #ICAEW #Accounting #Finance

36:16

DANMMMMM…Have I got a show for you! First, a lot of Sister Wives tea - new rumors have surfaced Janelle Brown is leaving the show. Plus, Gabe Brown gives a life update after losing and tragically finding his brother Garrison dead. Sadly, Garrison took his own life in March 2024. Then we head over to discuss the new Welcome To Plathville tea. The first pictures of Micah Plath have surfaced after being beat up by his brother Issac and it doesn’t look good for the future of his modeling career. Lastly, we discuss the latest in the Justin Baldoni v Blake Lively case, Justin is back on social media and it was the perfect social media return. Timestamps: 00:00:00 - Open and new Sister Wives news 00:05:43 - Janelle Brown leaving the show? Sister Wives Closet is officially closed 00:12:45 - A new pic of Micah Plath’s broken nose has surfaced 00:18:18 - Justin Baldoni back on social media and Taylor Swifts team is pissed at Justin Baldoni MY Go Big Podcasting Courses Are Here! Purchase Go Big Podcasting and learn to start, monetize, and grow your own podcast. USE CODE: MOM15 for 15% OFF (code expires May 11th, 2025) **SHOP my Amazon Marketplace - especially if you're looking to get geared-up to start your own Podcast!!!** https://www.amazon.com/shop/thesarahfrasershow Show is sponsored by: Download Cash App & sign up! Use our exclusive referral code TSFS in your profile, send $5 to a friend within 14 days, and you’ll get $10 dropped right into your account. Terms apply Horizonfibroids.com get rid of those nasty fibroids Gopurebeauty.com science backed skincare from head to toe, use code TSFS at checkout for 25% OFF your order Nutrafol.com use code TSFS for FREE shipping and $10 off your subscription Rula.com/tsfs to get started today. That’s R-U-L-A dot com slash tsfs for convenient therapy that’s covered by insurance. SkylightCal.com/tsfs for $30 OFF your 15 inch calendar Quince.com/tsfs for FREE shipping on your order and 365 day returns Warbyparker.com/tsfs make an appointment at one of their 270 store locations and head to the website to try on endless pairs of glasses virtually and buy your perfect pair Follow me on Instagram/Tiktok: @thesarahfrasershow ***Visit our Sub-Reddit: reddit.com/r/thesarahfrasershow for ALL things The Sarah Fraser Show!!!*** Advertise on The Sarah Fraser Show: thesarahfrasershow@gmail.com Got a juicy gossip TIP from your favorite TLC or Bravo show? Email: thesarahfrasershow@gmail.com Learn more about your ad choices. Visit megaphone.fm/adchoices…

2 years ago 36:49

MP3•Episode home

In this special Insights In Focus episode, we discuss the changes to tax architecture and design that may strengthen the UK’s national bargain as economic turbulence continues.

The national bargain – the broad agreement that taxation is a fair exchange for the provision of public services – has fluctuated over time. Most recently, polling by YouGov found the prevailing attitude among the British public is one of fiscal tightening. However, following unprecedented financial support during the pandemic and cost-of-living crisis, the tax burden is set to continue rising until 2027/28.

That leaves the government with a difficult conundrum: how can it meet people’s expectations around fiscal policy while paying down its debt at a time of slow economic growth?

To explore the best use of tax architecture and design, host Bronwen Maddox is joined by Bill Dodwell, Tax Director at the Office of Tax Simplification; Helen Miller, Deputy Director at the Institute for Fiscal Studies; and Martin Wheatcroft, ICAEW adviser and Fellow.

Links

ICAEW Insights Special: The future of tax and public spending: https://www.icaew.com/insights/insights-specials/the-future-of-tax-and-public-spending
ICAEW Tax Faculty: https://www.icaew.com/technical/tax/tax-faculty
ICAEW: Can tax policy help the UK achieve net zero?: https://www.icaew.com/technical/tax/tax-faculty/taxline/archive/taxline/taxline-2022/march-2022/can-tax-policy-help-the-uk-achieve-net-zero
ICAEW: Taxation of housing: https://www.icaew.com/technical/tax/tax-faculty/taxline/archive/taxline/taxline-2022/october-2022/taxation-of-housing
ICAEW: Taxing top incomes: design issues and challenges beyond politics: https://www.icaew.com/technical/tax/tax-faculty/taxline/2023/articles/taxing-top-incomes-design-issues-and-challenges-beyond-politics

Host

Bronwen Maddox, CEO, Chatham House

Guests

Bill Dodwell, Tax Director, Office of Tax Simplification
Helen Miller, Deputy Director, Institute for Fiscal Studies
Martin Wheatcroft, adviser and Fellow, ICAEW

Producer

Natalie Chisholm

Episode first published: 16 June 2023
Podcast recorded: 12 June 2023

106 episodes

ICAEW Insights In Focus: How can tax design better deliver tax policy?

Accountancy Insights

published 2 years ago

MP3•Episode home

In this special Insights In Focus episode, we discuss the changes to tax architecture and design that may strengthen the UK’s national bargain as economic turbulence continues.

That leaves the government with a difficult conundrum: how can it meet people’s expectations around fiscal policy while paying down its debt at a time of slow economic growth?

Links

ICAEW Insights Special: The future of tax and public spending: https://www.icaew.com/insights/insights-specials/the-future-of-tax-and-public-spending
ICAEW Tax Faculty: https://www.icaew.com/technical/tax/tax-faculty
ICAEW: Can tax policy help the UK achieve net zero?: https://www.icaew.com/technical/tax/tax-faculty/taxline/archive/taxline/taxline-2022/march-2022/can-tax-policy-help-the-uk-achieve-net-zero
ICAEW: Taxation of housing: https://www.icaew.com/technical/tax/tax-faculty/taxline/archive/taxline/taxline-2022/october-2022/taxation-of-housing
ICAEW: Taxing top incomes: design issues and challenges beyond politics: https://www.icaew.com/technical/tax/tax-faculty/taxline/2023/articles/taxing-top-incomes-design-issues-and-challenges-beyond-politics

Host

Bronwen Maddox, CEO, Chatham House

Guests

Bill Dodwell, Tax Director, Office of Tax Simplification
Helen Miller, Deputy Director, Institute for Fiscal Studies
Martin Wheatcroft, adviser and Fellow, ICAEW

Producer

Natalie Chisholm

Episode first published: 16 June 2023
Podcast recorded: 12 June 2023

106 episodes

#Business #ICAEW #Accounting #Finance

All episodes

1
Accountancy Insights: Collecting unpaid taxes and revisions to the Code of Ethics 12:16

16 days ago12:16

12:16

In this episode, we discuss the government’s new measures to collect billions of pounds in unpaid taxes, as well as covering the key changes to ICAEW’s Code of Ethics, which come into effect on 1 July 2025. Philippa Lamb is joined by Stephen Relf, Technical Manager, Tax; and Laura Hough, Director of Trust and Ethics. This episode refers to penalty rates based on the Bank of England base rate, correct as of 1 May 2025. Make sure you check the current rates. Time codes 00:28 Collecting unpaid taxes 06:04 Revisions to the Code of Ethics Links HMRC: If you cannot pay your tax bill on time: https://www.gov.uk/difficulties-paying-hmrc ICAEW: Government takes further action to reduce tax debt: https://www.icaew.com/insights/tax-news/2025/mar-2025/government-takes-further-action-to-reduce-tax-debt ICAEW: HMRC increases interest rates for tax paid late: https://www.icaew.com/insights/tax-news/2025/mar-2025/hmrc-increases-interest-rates-for-tax-paid-late ICAEW Code of Ethics: https://www.icaew.com/technical/trust-and-ethics/ethics/code-of-ethics ICAEW: Keep on top of developments in ethics: https://www.icaew.com/insights/viewpoints-on-the-news/2025/apr-2025/keep-on-top-of-developments-in-ethics Accountancy Insights: Regulating tax advice, plus new professional behaviour wording: https://www.icaew.com/insights/podcast/accountancy-insights/regulating-tax-advice-plus-new-professional-behaviour-wording Host Philippa Lamb Guests Stephen Relf, Technical Manager, Tax, ICAEW Laura Hough, Director, Trust and Ethics, ICAEW Producer Natalie Chisholm Episode first published: 12 May 2025 Podcast recorded: 1 May 2025…

1
Behind the numbers: The professional pitfalls of social media 25:52

29 days ago25:52

25:52

In this episode of Behind the Numbers, we discuss how professionals should approach social media. Social media can be a minefield, particularly when personal and professional lives are closely interwoven. Online debate has become increasingly polarised, including how people use professional networks such as LinkedIn. We cover some common pitfalls and explain how ethical principles should be informing the behaviour of chartered accountants online. Host Philippa Lamb is joined by Lucy Penrose, Director of Ethics, Risk and Compliance at RSM UK; Junaidy Ab-Mutalib, Managing Partner at JM & Co Chartered Accountants in Kuala Lumpur; and Hannah Macdonald, Founder of Accountancy Hub. Links ICAEW Code of Ethics: https://www.icaew.com/technical/trust-and-ethics/ethics/code-of-ethics ICAEW ethics helpsheets: Using social media: https://www.icaew.com/technical/tas-helpsheets/ethics/using-social-media Host Philippa Lamb Guests Lucy Penrose, Director, Ethics, Risk and Compliance, RSM UK Junaidy Ab-Mutalib, Managing Partner, JM & Co Chartered Accountants Hannah Macdonald, Founder, Accountancy Hub Producer Natalie Chisholm Episode first published: 29 April 2025 Podcast recorded: 22 April 2025…

1
Accountancy Insights: Adapting post-tariffs, MTD at 10, UK GAAP changes 29:01

7 weeks ago29:01

29:01

In this episode, we discuss how the Trump administration’s tariffs will hamper the government’s growth plans, the progress made towards Making Tax Digital on its tenth birthday, and how changes to FRS 102 and 105 will affect the nation’s small businesses. Philippa Lamb is joined in the studio by Iain Wright, Chief Policy and Communications Officer; Caroline Miskin, Senior Technical Manager, Digital Taxation; and Sally Baker, Head of Corporate Reporting Strategy. Time codes 00:41 Trump administration tariffs 14:07 Making Tax Digital at 10 20:48 Changes to FRS 102 and 105 Links ICAEW Insights: https://www.icaew.com/insights ICAEW events: https://events.icaew.com ICAEW: Making Tax Digital: https://www.icaew.com/technical/tax/making-tax-digital ICAEW: Periodic review of UK GAAP: https://www.icaew.com/technical/corporate-reporting/uk-gaap/periodic-review-of-uk-gaap ICAEW Corporate Reporting Conference (9 June 2025): https://www.icaew.com/learning-and-development/events/corporate-reporting-conference Host Philippa Lamb Guests Iain Wright, Chief Policy and Communications Officer, ICAEW Caroline Miskin, Senior Technical Manager, Digital Taxation, ICAEW Sally Baker, Head of Corporate Reporting Strategy, ICAEW Producer Natalie Chisholm Episode first published: 8 April 2025 Podcast recorded: 3 April 2025…

1
Behind the numbers: What Britain needs to grow 35:36

9 weeks ago35:36

35:36

In this episode of Behind the Numbers, we discuss the necessary ingredients to support economic growth. It’s a clear priority for the government. An industrial strategy is due to be published in the coming months – with eight key sectors for the UK already identified – and reviews of taxation and regulation are also taking place. As the Spring Statement arrives on 26 March, our panel explores whether government policy is pulling all the right levers. Host Philippa Lamb is joined by John Boulton, ICAEW Director of Policy; John Godfrey, Managing Director of Public Affairs and Research at TheCityUK; Anne Allibone, fractional CFO; and Peter Arnold, EY UK Chief Economist. Links ICAEW: Economy: https://www.icaew.com/technical/economy Host Philippa Lamb Guests John Boulton, Director, Policy, ICAEW John Godfrey, Managing Director, Public Affairs and Research, TheCityUK Peter Arnold, Chief Economist, EY UK Anne Allibone, fractional CFO, Allibone Consulting Producer Natalie Chisholm Episode first published: 25 March 2025 Podcast recorded: 21 March 2025…

1
Accountancy insights: Happy birthday, HMRC 21:49

10 weeks ago21:49

21:49

In this episode, we have a report by Mark Rowland from the ’20 Years of HMRC’ event held on 11 March at Chartered Accountants’ Hall, in which he speaks to James Murray, Exchequer Secretary to the Treasury, and Lord O’Donnell, former Permanent Secretary to the Treasury, among others, about the future of digitisation and HMRC. Tax changes announced at the budget are coming into effect in April and one of the biggest concerns is the revisions to employers’ national insurance contributions and thresholds, as well as to NI employment allowances. Also changing is the way that double cab pick-ups are treated for tax purposes. Auditing of SMEs has come under FRC’s spotlight recently, and it has launched a market study to determine what is working and what it not under the current regulation, including the complexity and cost of auditing standards. Philippa Lamb explores the latter two subjects with Stephen Relf, Technical Manager, Tax, ICAEW, and Catherine Hardinge, Partner, Technical, Price Bailey LLP. Links The future of a tax administration authority: https://www.icaew.com/insights/tax-news/2025/mar-2025/the-future-of-a-tax-administration-authority Ten tax changes taking effect from April 2025: https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2025/ten-tax-changes-taking-effect-from-april-2025 Don’t forget April tax changes for double cab pick-ups, says ICAEW: https://www.icaew.com/insights/tax-news/2025/feb-2025/dont-forget-april-tax-changes-for-double-cab-pick-ups-says-icaew Is the FRC doing enough to support small audits?: https://www.icaew.com/insights/viewpoints-on-the-news/2025/feb-2025/is-the-frc-doing-enough-to-support-small-audits Host Philippa Lamb Guests Stephen Relf, Technical Manager, Tax, ICAEW Catherine Hardinge, Partner, Technical, Price Bailey LLP James Murray, Exchequer Secretary to the Treasury and chair of HMRC board Lord O’Donnell, former Permanent Secretary to the Treasury Heather Self, Consultant, Blick Rothenberg Paul Aplin, Vice-President, Chartered Institute of Taxation David Gauke, former Treasury minister Amanda Tickel, Head of Tax and Trade Policy, Deloitte Producer Natalie Chisholm Episode first published: 17 March 2025 Podcast recorded: 6 March 2025…

1
Behind the Numbers: Succession planning - is employee ownership the answer? 27:36

12 weeks ago27:36

27:36

In this episode of Behind the Numbers, we discuss the appropriateness of employee ownership trusts (EOTs) for accountancy practices. The majority of mid-tier accountancy and audit firms are still structured as limited liability partnerships. But, with nearly half of firms citing succession planning as a critical talent challenge, and private equity investors taking more interest in the sector, some firms are now looking at other options. Philippa Lamb explores the key issues with Graeme Nuttall OBE, author of 2012’s Nuttall Review into employee ownership and International Ambassador for the Employee Ownership Association; Simon Blake, Head of Strategic Corporate Finance at Price Bailey; and Peter Hollis, whose firm recently became an EOT. Links ICAEW: Employee ownership: https://www.icaew.com/technical/business/business-start-up-and-finance/employee-ownership Insight: employee ownership trusts: https://www.icaew.com/technical/corporate-finance/corporate-finance-resources/corporate-financier/2025/articles/february/insight-employee-ownership-trusts Host Philippa Lamb Guests Graeme Nuttall OBE, International Ambassador, Employee Ownership Association Simon Blake, Head of Strategic Corporate Finance, Price Bailey Peter Hollis, Principal, Hollis & Co Producer Natalie Chisholm Episode first published: 3 March 2025 Podcast recorded: 24 February 2025…

1
Trump tariffs update and HMRC service standards 29:17

15 weeks ago29:17

29:17

In this episode, we discuss the latest developments in President Trump’s tariffs rollout and how they may affect UK businesses. We also explore a new joint report by ICAEW and the Chartered Institute of Taxation into HMRC service standards, which includes research findings from 31 agent firms. Philippa Lamb is joined in the studio by ICAEW’s Iain Wright, Managing Director of Reputation and Influence, and Ed Saltmarsh, Technical Manager for VAT and Customs. Time codes 00:52 Trump tariffs update 15:17 HMRC service standards Links ICAEW Business Confidence Monitor: https://www.icaew.com/technical/economy/business-confidence-monitor ICAEW-CIOT event: 20 years of HMRC – reflections and looking ahead: https://events.icaew.com/pd/30211/ ICAEW podcast: The Tax Track: https://www.icaew.com/insights/podcast/the-tax-track Host Philippa Lamb Guests Iain Wright, Managing Director, Reputation and Influence, ICAEW Ed Saltmarsh, Technical Manager, VAT and Customs, ICAEW Producer Natalie Chisholm Episode first published: 13 February 2025 Podcast recorded: 6 February 2025…

1
Behind the Numbers: A ticking tech skills timebomb 28:59

17 weeks ago28:59

28:59

In this episode of Behind the Numbers, we discuss continuous learning around technology and artificial intelligence. For accountants, getting the most out of fast-evolving technologies involves more than simply training people how to use them. Judgement, communication and granular accountancy skills all come into play. So how can firms identify their training needs and what are the best ways to deliver that training? Philippa Lamb explores the key issues with Jenny Blewett, Head of Finance at Costello Medical; Daniel Clark, business trainer and writer; and Julia Penny, Director at JS Penny and ICAEW past-President. Links ICAEW technology resources: https://www.icaew.com/technical/technology Mid-Tier Tech Forum: digital skills: https://events.icaew.com/pd/30692?code=ijMH8fKJCg Host Philippa Lamb Guests Daniel Clark, business trainer and writer Julia Penny, Director, JS Penny; ICAEW past-President Jenny Blewett, Head of Finance, Costello Medical Producer Natalie Chisholm Episode first published: 30 January 2025 Podcast recorded: 23 January 2025…

1
Trump, tariffs and EU turmoil: 2025 predictions 34:43

21 weeks ago34:43

34:43

In this special episode of Accountancy Insights, we look ahead to the most significant events and trends anticipated in 2025. Last year brought a new UK government and its controversial first Budget. With things now appearing more settled at home, the upcoming inauguration of President Trump in the US and the recent collapse of governments in Europe will bring new opportunities and challenges for the British economy. For the third year, host Philippa Lamb is joined in forecasting by Iain Wright, ICAEW Managing Director of Reputation and Influence; Frances Haque, Chief Economist at Santander UK; and David Williamson, Political Editor of the Sunday Express. Links ICAEW Business Confidence Monitor: https://www.icaew.com/technical/economy/business-confidence-monitor Host Philippa Lamb Guests Iain Wright, Managing Director, Reputation and Influence, ICAEW David Williamson, Political Editor, Sunday Express Frances Haque, Chief Economist, Santander UK Producer Natalie Chisholm Episode first published: 3 January 2025 Podcast recorded: 17 December 2024…

1
Behind the Numbers: the financial case for sustainability 31:06

24 weeks ago31:06

31:06

In this episode of Behind the Numbers, we discuss the progress of sustainability reporting. Across the globe, sustainability reporting has become increasingly mandated for large organisations. Now, with the CSRD introduced in the European Union and the first two ISSB standards set to be endorsed by the UK, the challenge for accountants lies in ensuring that the quality of non-financial information matches that of financial information. To discuss the key issues, Philippa Lamb is joined by Richard Spencer, ICAEW Director of Sustainability; David Wray, founder of ESG consultancy DWG and IESBA Ethics Board member; and Marie-Josée Privyk, ESG coach and adviser. Links ICAEW: Connecting sustainability and finance: https://www.icaew.com/technical/sustainability/resources-collection/connecting-sustainability-and-finance ICAEW Sustainability Accelerator Programme: https://www.icaew.com/learning-and-development/icaew-sustainability-accelerator-programme Host Philippa Lamb Guests Richard Spencer, Director, Sustainability, ICAEW Marie-Josée Privyk, ESG coach and adviser David Wray, Founder, DWG; IESBA Ethics Board member Producer Natalie Chisholm Episode first published: 12 December 2024 Podcast recorded: 5 December 2024…

1
Accountancy Insights: Regulating tax advice, plus new professional behaviour wording 16:37

25 weeks ago16:37

16:37

In this episode, we speak to Ray McCann, fresh from delivering this year’s Hardman Lecture on Monday 25 November, about regulating the provision of tax advice. Plus, Sophie Wales, ICAEW Director of Regulatory Policy, explains upcoming changes to the ICAEW Code of Ethics around professional behaviour. Time codes 00:55 Regulating tax advice 08:09 New professional behaviour wording Links ICAEW: Hardman Lecture shines spotlight on ‘shadow’ tax advisers: https://www.icaew.com/insights/tax-news/2024/nov-2024/hardman-lecture-shines-spotlight-on-shadow-tax-advisers ICAEW: The new Code of Ethics: understanding professional behaviour: https://www.icaew.com/insights/viewpoints-on-the-news/2024/nov-2024/the-new-code-of-ethics-understanding-professional-behaviour Host Philippa Lamb Reporter Mark Rowland Guests Ray McCann, Consultant, Charter Tax Sophie Wales, Director of Regulatory Policy, ICAEW Producer Natalie Chisholm Episode first published: 2 December 2024 Podcast recorded: 25 November 2024…

1
Behind the Numbers: Can we unclog the local audit backlog? 22:25

27 weeks ago22:25

22:25

In this episode of Behind the Numbers, we discuss whether the filing of local authority audited accounts will ever get back on track. Just 1% of local bodies published audited accounts on time for the 2022/23 [LE1] financial year. Now, the government has introduced backstop dates in the hopes of resetting the system, with the first arriving on 13 December. But will they anything change? And how should local authorities be managing the external audit process to ensure timely filing? To answer those questions, host Philippa Lamb is joined by Alison Ring, ICAEW Director of Public Sector and Taxation; Cecilie Booth, Executive Director of Resources at Peterborough City Council; and Paul Dossett, Head of Public Sector, London and South East, at Grant Thornton UK. Links ICAEW Public Sector Conference: https://www.icaew.com/learning-and-development/events/public-sector-conference ICAEW Local government finance: skills for the future: https://www.icaew.com/technical/public-sector/public-sector-financial-management/local-government-finance-skills-for-the-future ICAEW Public Sector Community: https://www.icaew.com/groups-and-networks/communities/public-sector ICAEW vision for local audit: https://www.icaew.com/technical/public-sector/public-sector-audit-and-assurance/uk-public-sector-audit/icaew-vision-for-local-audit Host Philippa Lamb Guests Alison Ring, Director, Public Sector and Taxation, ICAEW Cecilie Booth, Executive Director of Resources, Peterborough City Council Paul Dossett, Head of Public Sector Assurance, London and South East, Grant Thornton UK Producer Natalie Chisholm Episode first published: 21 November 2024 Podcast recorded: 14 November 2024…

1
Accountancy Insights: Budget 2024 - a gamble on growth 30:46

30 weeks ago30:46

30:46

In this special episode of Accountancy Insights, we discuss whether the Autumn Budget will provide a much-needed shot in the arm for business confidence and investment activity. Philippa Lamb is joined by Iain Wright, Managing Director, Reputation and Influence, ICAEW; Frances Haque, Chief Economist, Santander UK; and David Williamson, Political Editor, Sunday Express. Links ICAEW: Autumn Budget 2024: https://www.icaew.com/technical/economy/autumn-budget-2024 Host Philippa Lamb Guests Iain Wright, Managing Director, Reputation and Influence, ICAEW Frances Haque, Chief Economist, Santander UK David Williamson, Political Editor, Sunday Express Producer Natalie Chisholm Episode first published: 1 November 2024 Podcast recorded: 31 October 2024…

1
Behind the Numbers: Guarding against the AI cyber crimewave 36:02

32 weeks ago36:02

36:02

In this episode of Behind the Numbers, we discuss how the use of new technologies by criminals is putting businesses at risk. A recent Europe-wide report found that 40% of chief internal auditors cited artificial intelligence as a top five business-critical risk. So, how can professionals protect themselves and their employers? And what can SMEs with tighter budgets do to combat this threat? Host Philippa Lamb is joined by Ian Pay, Head of Data Analytics and Tech at ICAEW; Mark Turner, Chief Technology Officer at cyber security specialists Mitigo; and Paul Munson, EU Compliance Lead at workplace software provider Rippling and previously of the Financial Conduct Authority, Serious Fraud Office and HMRC. Links ICAEW artificial intelligence hub: https://www.icaew.com/technical/technology/artificial-intelligence ICAEW cyber security hub: https://www.icaew.com/technical/technology/cyber-security Host Philippa Lamb Guests Ian Pay, Head of Data Analytics and Tech, ICAEW Mark Turner, Chief Technology Officer, Mitigo Paul Munson, EU Compliance Lead, Rippling Producer Natalie Chisholm Episode first published: 18 October 2024 Podcast recorded: 11 October 2024…

1
Group audit and the forthcoming AI Bill 16:29

33 weeks ago16:29

16:29

In this episode, we recap revisions to ISA 600 on group audit, and we discuss the likely contents of the AI Bill that is expected to be brought to Parliament before the end of the year. Philippa Lamb is joined by Catherine Hardinge, Partner at Price Bailey; and Oliver Nelson-Smith, Tech Policy Manager at ICAEW. Time codes 00:30 Group audit 06:18 AI Bill Links ICAEW: Reminders on group audit: https://www.icaew.com/technical/audit-and-assurance/faculty-resources/audit-and-beyond/2024/articles/reminders-on-group-audit ICAEW Artificial intelligence hub: https://www.icaew.com/technical/technology/artificial-intelligence Host Philippa Lamb Guests Catherine Hardinge, Partner, Price Bailey Oliver Nelson-Smith, Tech Policy Manager, ICAEW Producer Natalie Chisholm Episode first published: 7 October 2024 Podcast recorded: 30 September 2024…

Accountancy Insights

1
Behind the numbers: why are we taxing tourists? 31:36

35 weeks ago31:36

31:36

In this episode of Behind the Numbers, we discuss the introduction of tourism taxes in the UK. During 2024, such taxes have been introduced in Manchester, Poole, Bournemouth and Brighton. Now, Edinburgh City Council has put forward draft proposals for a visitor levy scheme, which would charge visitors 5% of their accommodation costs per night for up to a week. But how useful are tourism taxes in practice? And what do local people make of them? To answer those questions, host Philippa Lamb is joined by Clare Beck, Chair of the ICAEW Scotland Board; internal auditor Jim Orr; Rhys Ap Gwilym, Senior Lecturer in Economics at Bangor University; and Suth Rathmell, Partner in Indirect Tax at MHA. Links ICAEW Scotland: https://www.icaew.com/groups-and-networks/local-groups-and-societies/scotland-ds The Conversation: ‘Why you should expect to pay more tourist taxes – even though the evidence for them is unclear’: https://theconversation.com/why-you-should-expect-to-pay-more-tourist-taxes-even-though-the-evidence-for-them-is-unclear-229134 Welsh Government: ‘Comparative analysis of the tax systems faced by the visitor economies in selected countries’: https://www.gov.wales/comparative-analysis-tax-systems-faced-visitor-economies-selected-countries Host Philippa Lamb Guests Clare Beck, Chair, ICAEW Scotland Board Jim Orr, Internal Auditor Rhys Ap Gwilym, Senior Lecturer, Economics, Bangor University Sue Rathmell, Partner, Indirect Tax, MHA Producer Natalie Chisholm Episode first published: 25 September 2024 Podcast recorded: 17 September 2024…

Accountancy Insights

1
Accountancy Insights: Taxing cryptoassets and reporting suspicions of fraud 19:20

37 weeks ago19:20

19:20

In this episode, we discuss the available guidance on, and the application of general principles to, the taxation of cryptoassets; as well as how auditors should be acting on their obligation to report suspicions of fraud to the regulator. Philippa Lamb is joined by Richard Jones, Senior Technical Manager in Tax Policy at ICAEW; Dion Seymour, Crypto and Digital Assets Technical Director at Andersen; and Reuben Wales, Head of Financial Services at ICAEW. Time codes 00:38 Taxing cryptoassets 10:52 Reporting suspicions of fraud Links ICAEW TAXline: The basics of taxing cryptoassets: https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/the-basics-of-taxing-cryptoassets ICAEW TAXguide 01/2024: Taxation of cryptoassets for individuals: https://www.icaew.com/technical/tax/tax-faculty/taxguides/2024/taxguide-01-24 ICAEW TAXguide 02/2024: Taxation of cryptoassets for businesses: https://www.icaew.com/technical/tax/tax-faculty/taxguides/2024/taxguide-02-24 Financial Reporting Council: ISA (UK) 240: https://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/auditing-standards/isa-uk-240/ Financial Reporting Council: ISA (UK) 250 Section A: https://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/auditing-standards/isa-uk-250-section-a/ Financial Reporting Council: ISA (UK) 250 Section B: https://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/auditing-standards/isa-uk-250-section-b/ Host Philippa Lamb Guests Richard Jones, Senior Technical Manager, Tax Policy, ICAEW Dion Seymour, Crypto and Digital Assets Technical Director, Andersen Reuben Wales, Head of Financial Services, ICAEW Producer Natalie Chisholm Episode first published: 9 September 2024 Podcast recorded: 2 September 2024…

Accountancy Insights

1
Behind the Numbers: How to stop accountancy’s brain drain 30:35

40 weeks ago30:35

30:35

In this episode of Behind the Numbers, we discuss ways to improve recruitment and retention in accountancy. While the pipeline of new joiners remains healthy, holding onto qualified staff is proving challenging. New research by ICAEW on mid-tier firms demonstrates just how significant the issue is – with 70% of participants identifying talent as their most significant challenge. So, what needs to happen for more professionals to view accountancy as a long-term career choice? To explore the key issues, host Philippa Lamb is joined by Kat Hearn, Senior Technical Manager at ICAEW; Androulla Soteri, Chief People Officer at Dains Accountants; and Lola Abitogun, who qualified as a chartered accountant before establishing Alchemy HR. Links ICAEW: Evolution of mid-tier accountancy firms https://www.icaew.com/technical/practice-resources/evolution-of-mid-tier-accountancy-firms Host Philippa Lamb Guests Kat Hearn, Senior Technical Manager, ICAEW Androulla Soteri, Chief People Officer, Dains Accountants Lola Abitogun, Founder, Alchemy HR Producer Natalie Chisholm Episode first published: 23 August 2024 Podcast recorded: 15 August 2024…

Accountancy Insights

1
Accountancy Insights: Business confidence, local authority finance, probate delays, and tax reform 40:33

41 weeks ago40:33

40:33

In this bumper episode, we discuss the latest findings of ICAEW’s Business Confidence Monitor and why three-quarters of councils in England are at least a year behind in publishing audited accounts. Plus, we hear an update on the probate service and explore ICAEW’s recommendations for the new government’s business tax road map. Philippa Lamb is joined by Iain Wright, Managing Director of Reputation and Influence; Alison Ring, Director of Public Sector and Taxation; Sophie Wales, Director of Regulatory Policy; and Richard Jones, Senior Technical Manager in Tax Policy. Time codes 00:58 ICAEW Business Confidence Monitor 10:33 Local authority finances 17:21 Probate service 24:52 Business taxation Links ICAEW Business Confidence Monitor: https://www.icaew.com/bcm ICAEW probate hub: https://www.icaew.com/probate ICAEW Tax Faculty: https://www.icaew.com/technical/tax/tax-faculty ICAEW TAXline: https://www.icaew.com/taxline ICAEW Budget submissions: taxfac@icaew.com Host Philippa Lamb Guests Iain Wright, Managing Director, Reputation and Influence, ICAEW Alison Ring, Director, Public Sector and Taxation, ICAEW Sophie Wales, Director, Regulatory Policy, ICAEW Richard Jones, Senior Technical Manager, Tax Policy, ICAEW Producer Natalie Chisholm Episode first published: 12 August 2024…

Accountancy Insights

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Behind the Numbers: Why are female-led startups so underfunded? 35:16

43 weeks ago35:16

35:16

In this episode of Behind the Numbers, we discuss gender inequality in investment. Women continue to be underrepresented in venture capital, particularly at senior levels. The scales are even less balanced for female founders, who received just 2% of venture capital funding in recent years. As the new government puts productivity and growth at the top of its national agenda, how do we get things moving? Philippa Lamb is joined by entrepreneur and chartered accountant Tanuvi Ethunandan; Helen Burnell, Partner at law firm Shoosmiths; and Suzi Gillespie, Head of Research at the British Private Equity & Venture Capital Association. Links ICAEW Women in Finance Community: https://www.icaew.com/groups-and-networks/communities/join-women-in-finance-community Host Philippa Lamb Guests Tanuvi Ethunandan, entrepreneur and product manager Helen Burnell, Partner, Shoosmiths Suzi Gillespie, Head of Research, British Private Equity & Venture Capital Association Producer Natalie Chisholm Episode first published: 2 August 2024 Podcast recorded: 26 July 2024…

Accountancy Insights

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Accountancy Insights: How to get Britain growing 26:55

46 weeks ago26:55

26:55

One week on from the general election, this special episode of Accountancy Insights discusses the policies of the new UK government. The Labour Party has taken power with a sweeping victory not seen since 1997. Now, it faces the same challenge that successive governments have struggled to tackle: kickstarting the UK economy. With little room for manoeuvre in the public finances, can anything move the dial when it comes to boosting growth? Guest host Iain Wright is joined by Frances Haque, Chief Economist at Santander UK, and David Williamson, Political Editor at the Sunday Express. Links ICAEW Manifesto 2024: https://www.icaew.com/technical/economy/manifesto-2024 ICAEW Business Confidence Monitor: https://www.icaew.com/technical/economy/business-confidence-monitor Host Iain Wright, Managing Director, Reputation and Influence, ICAEW Guests Frances Haque, Chief Economist, Santander UK David Williamson, Political Editor, Sunday Express Producer Natalie Chisholm Episode first published: 12 July 2024 Podcast recorded: 11 July 2024…

Accountancy Insights

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Behind the Numbers: Groupthink – the boardroom’s most pervasive problem? 39:55

48 weeks ago39:55

39:55

In this episode of Behind the Numbers, we discuss strategies to prevent and tackle groupthink at board level. By suppressing debate and disrupting effective decision-making, groupthink poses a significant governance challenge for firms. Notably, the recent scandal over fee transparency at wealth manager St James’s Place – which has set aside £426m for client refunds – has been blamed on groupthink in the boardroom. Philippa Lamb examines ways forward with Baroness Helena Morrissey, financier and former Non-Executive Director at St James’s Place; Peter van Veen, Director of Corporate Governance and Stewardship at ICAEW; and Kevin Davidson, CEO of executive search and board advisory firm Norman Broadbent. Links Tackling groupthink – why stupid questions don’t exist: https://www.icaew.com/insights/viewpoints-on-the-news/2024/jun-2024/tackling-groupthink-why-stupid-questions-dont-exist Host Philippa Lamb Guests Baroness Helena Morrissey, financier Peter van Veen, Director, Corporate Governance and Stewardship, ICAEW Kevin Davidson, CEO, Norman Broadbent Producer Natalie Chisholm Episode first published: 28 June 2024 Podcast recorded: 21 June 2024…

Accountancy Insights

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Accountancy Insights: Corporate reporting update and VAT on private hire vehicles 20:02

51 weeks ago20:02

20:02

In this episode, we discuss important developments in corporate reporting, including amendments to UK GAAP, new standards IFRS18 and IFRS19, and the timeline for implementing IFRS S1 and IFRS S2. We also discuss the evolving VAT treatment of private hire vehicles as a result of recent court cases and how the Treasury may seek to respond. Philippa Lamb is joined by Sally Baker, Head of Corporate Reporting Strategy, and Ed Saltmarsh, Technical Manager, VAT and Customs. Links Be part of ICAEW Corporate Reporting: https://www.icaew.com/joincrf ICAEW: The road ahead for VAT and PHVs: https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/the-road-ahead-for-vat-and-phvs Host Philippa Lamb Guests Sally Baker, Head of Corporate Reporting Strategy, ICAEW Ed Saltmarsh, Technical Manager, VAT and Customs, ICAEW Producer Natalie Chisholm Episode first published: 5 June 2024 Podcast recorded: 3 June 2024…

Accountancy Insights

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ICAEW Insights In Focus: AI in audit - the good, the bad and the ugly 39:57

52 weeks ago39:57

39:57

In this ICAEW Insights In Focus episode, we discuss the use of artificial intelligence in audit. Depending on who you talk to, generative AI is either going to revolutionise the way auditors work or replace certain roles in the sector entirely. The truth probably lies somewhere in between. So, how are auditors beginning to use AI? And how can practices sift marketing fact from fiction and navigate the risks introduced by using AI tools? To answer those questions, Philippa Lamb is joined by Konrad Bukowski-Kruszyna, Audit Data Analytics Director at RSM UK; Fay Bordbar, Global Digital Skills Lead at Mazars; and Oliver Nelson-Smith, Tech Policy Manager at ICAEW Links ICAEW - Generative AI Guide: https://www.icaew.com/technical/technology/artificial-intelligence/generative-ai-guide ICAEW - Finance in a Digital World: https://www.icaew.com/technical/technology/finance-in-a-digital-world Host Philippa Lamb Guests Konrad Bukowski-Kruszyna, Audit Data Analytics Director, RSM UK Fay Bordbar, Global Digital Skills Lead, Mazars Oliver Nelson-Smith, Tech Policy Manager, ICAEW Producer Natalie Chisholm Episode first published: 29 May 2024 Podcast recorded: 23 May 2024…

Accountancy Insights

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ICAEW Insights: Company size thresholds and CGT on residences 19:59

1 year ago19:59

19:59

In this episode of the ICAEW Insights podcast, we discuss upcoming changes to company size thresholds and what they mean for reporting requirements. Plus, with capital gains tax in the headlines, we explore the rules and restrictions when it comes to selling residential property. Philippa Lamb is joined by Sally Baker, Head of Corporate Reporting Strategy, and Caroline Miskin, Senior Technical Manager in Digital Taxation. Links ICAEW: By All Accounts: https://www.icaew.com/technical/corporate-reporting/corporate-reporting-resources/by-all-accounts ICAEW: TAXline: https://www.icaew.com/technical/tax/tax-faculty/taxline Host Philippa Lamb Guests Sally Baker, Head of Corporate Reporting Strategy, ICAEW Caroline Miskin, Senior Technical Manager, Digital Taxation, ICAEW Producer Natalie Chisholm Episode first published: 10 May 2024 Podcast recorded: 1 May 2024…

Accountancy Insights

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ICAEW Insights In Focus: Lessons in leadership from ICAEW's CEO 33:40

1 year ago33:40

33:40

In this special bonus episode of Insights In Focus, we meet new ICAEW CEO Alan Vallance to discuss the leadership lessons of his career. Alan is an ICAEW Chartered Accountant and joined the Institute as CEO in April 2024. His career has spanned various sectors and countries, as well as detailed experience in leading membership bodies RIBA and the Chartered Insurance Institute in recent years. In this conversation with Philippa Lamb, Vallance shares how his career journey has shaped his approach to leadership – from qualifying as an ACA at Ernst & Whinney (now EY) to working in post-Soviet Hungary and his 15 years with Australia Post at a time of early digitalisation. Links How the profession can embrace change, according to ICAEW’s new CEO: https://www.icaew.com/insights/viewpoints-on-the-news/2024/apr-2024/how-the-profession-can-embrace-change-according-to-icaews-new-ceo Host Philippa Lamb Guest Alan Vallance, CEO, ICAEW Producer Natalie Chisholm Episode first published: 3 May 2024 Podcast recorded: 25 April 2024…

Accountancy Insights

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ICAEW Insights In Focus: So you want to be a leader? 30:28

1 year ago30:28

30:28

In this Insights In Focus episode, we discuss how accountants can build the skills needed to take on leadership and executive roles during their careers. In a recent report by the Financial Times, one anonymous headhunter was quoted as saying: “If America is run by lawyers, then the UK is run by accountants.” It’s backed up by the data, too: around one-third of today’s FTSE 100 CEOs have previously served as CFOs in their careers. But what makes finance professionals a good fit for the top spot? And what skills beyond financial prowess will help them make a success of it? To answer those questions, host Philippa Lamb is joined by Sarah Walker-Smith, CEO of legal and professional services group Ampa; Joe Dubbin, Managing Director of executive search firm Cripps Leadership Advisors; and Melanie Coeshott, career coach and mentor at Blue Diamond. Links ICAEW Academy: https://www.icaew.com/learning-and-development/academy ICAEW: The Tax Track podcast: https://www.icaew.com/insights/podcast/the-tax-track ICAEW Student Insights podcast: https://www.icaew.com/insights/student-insights/podcast Host Philippa Lamb Guests Sarah Walker-Smith, CEO, Ampa Joe Dubbin, Managing Director, Cripps Leadership Advisors Melanie Coeshott, career coach, Blue Diamond Producer Natalie Chisholm Episode first published: 17 April 2024 Podcast recorded: 12 April 2024…

Accountancy Insights

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ICAEW Insights: A busy new tax year, plus progress on the Economic Crime Act 17:54

1 year ago17:54

17:54

In this episode, we discuss why the arrival of the 2024/25 tax year is particularly busy for accountants, and the main changes to be aware of from 6 April. Plus, six months on from the passing of the Economic Crime and Corporate Transparency Act, we learn what progress has been made to enact its various provisions. To shed light on those two topics, Philippa Lamb is joined by Stephen Relf, Technical Manager, Tax, and Sally Baker, Head of Corporate Reporting Strategy. Links ICAEW: The Tax Track podcast: https://www.icaew.com/insights/podcast/the-tax-track ICAEW: Tax changes taking effect from April 2024: https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/tax-changes-taking-effect-from-april-2024 ICAEW: Economic crime hub: https://www.icaew.com/technical/trust-and-ethics/economic-crime Economic Crime and Corporate Transparency Act 2023: the story so far: https://www.youtube.com/watch?v=UAZWpeLR_T0 Host Philippa Lamb Guests Stephen Relf, Technical Manager, Tax, ICAEW Sally Baker, Head of Corporate Reporting Strategy, ICAEW Producer Natalie Chisholm Episode first published: 5 April 2024 Podcast recorded: 26 March 2024…

Accountancy Insights

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ICAEW Insights In Focus: Does Britain have a farming problem? 24:36

1 year ago24:36

24:36

In this Insights In Focus episode, we discuss how changes to the funding of British farms could affect the UK’s broader economic resilience. As a result of Brexit, British farms will stop benefiting from the EU Common Agricultural Policy by the end of 2027. The policy paid subsidies largely regardless of land use. Now, farmers need to transition to new schemes established by the UK’s devolved administrations. These require farms to meet environmental requirements such as hedge management, rewilding and tree-planting, which critics say will have a negative impact on food production and reduce the UK’s resilience to market shocks. To discuss the future of British farming, host Philippa Lamb is joined by David Missen, consultant at Larking Gowen, and Roseanne Bennett, partner at Greaves West & Ayre. Links ICAEW Farming & Rural Business Community: https://www.icaew.com/technical/farming-and-rural-business Host Philippa Lamb Guests David Missen, consultant, Larking Gowen Roseanne Bennett, partner, Greaves West & Ayre Producer Natalie Chisholm Episode first published: 22 March 2024 Podcast recorded: 11 March 2024…

Accountancy Insights

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ICAEW Insights In Focus: Budget 2024 – does it change anything? 26:04

1 year ago26:04