The Department for Business, Energy and Industrial Strategy (BEIS) has launched details of a call for evidence seeking views on proposals to strengthen the UK’s framework for major companies and the way they are audited. The proposals set out how:
- companies should report on their governance and finances
- reports should be audited
- audit and the audit market should change
- these should be overseen by a new regulator
HM Revenue and Customs (HMRC) has launched details of a call for evidence seeking views on how the tax administration framework could be updated and simplified to provide a better experience for individuals and organisations. HMRC is also seeking views of the benefits and challenges of the current tax payment timings, and for moving to more frequent, in-year tax calculation and payment, with a particular focus on Income Tax self-assessment and Corporation Tax.
If you wish to provide input into either of the BCC’s consultation responses, please contact Suren Thiru by COP on Wednesday 30 June.