February Week 4 – News Roundup
Obp Chartered Accountants | 28th February 2020
It’s the final week of February, and the final installment of our news roundup this month. We’ve got articles about IR35 changes & our favourite TV presenters’ battles with HMRC, IT and cyber insurance, climate protester victories, and much more. If you want to read any more of the articles we’ve featured here, click on the buttons for each section and follow the link to their respective websites.
IR35: Big loss for Eamonn Holmes
Rebecca Cave, AccountingWeb
Eamonn Holmes is the tenth broadcaster to face a grilling under the IR35 rules, as chronicled in our IR35 casebook, and the fourth of those individuals to lose at the first tier tribunal (FTT).
The case was heard in June 2018, but it has taken 20 months for the case report to be published. Why there has been such a long delay is quite a mystery. However, it does appear that all reference to the amount of income tax and NIC at stake has been stripped out of the case report, as has any mention of the level of fees paid for Holmes’ services.
The case concerned the application of IR35 to contracts between Holmes’ own personal service company ‘Red, White and Green Ltd (RWG)’…
IT and Cyber Insurance
Most businesses rely on IT. Problems with your computer system can cause serious disruption or even business failure.
Repairing or replacing equipment that’s been stolen or damaged is only part of the problem. Recovering lost data can be difficult or impossible. If personal data is compromised, you could face regulatory action and a public relations disaster as well.
Along with traditional risks like theft and accidental damage, you need to protect yourself against online threats such as viruses and…
Only 15% of FDs in FTSE 100 companies are women
Richard Hattersley, AccountingWeb
A new government-backed review has highlighted the concerning gender imbalance of senior roles in FTSE 100 companies – with only 15% of women in finance director roles.
New research from the Hampton-Alexander Review shows that one-third of board seats at FTSE 100 companies are now held by women, which is ten months ahead of the December 2020 target.
However, the 33% of women finance directors in FTSE 100 companies falls short of some of the other senior roles such as…
Rishi Sunak blinks in face of industry pressure, says HMRC will ‘go soft’ on IR35 changes in year one
Timothy Adler, SmallBusiness
Chancellor Rishi Sunak seeks to reassure freelancers that HMRC will not be “heavy handed” when new IR35 rules come into effect on 6 April.
Chancellor Rishi Sunak says the taxman will not be “heavy handed” when IR35 changes come into effect on 6 April, potentially bringing 230,000 sole traders within PAYE.
Answering questions in Birmingham on Saturday night, the new chancellor sought to reassure both companies and freelance contractors, saying the controversial policy will have a soft landing…
Climate campaigners win Heathrow expansion case
Tom Espiner, BBC News
Controversial plans for a third runway at Heathrow Airport have been thrown into doubt after a court ruling.
The government’s decision to allow the expansion was unlawful because it did not take climate commitments into account, the Court of Appeal said.
Heathrow said it would challenge the decision, but the government said it would not appeal.
The judges said that in future, a third runway could go ahead, as long as it fits with the UK’s climate policy…