4 hours ago
The Institute of Chartered Accountants of Scotland (ICAS) has confirmed its in-principle support for modernising the UK tax system, while urging the government to ensure reforms do not create excessive compliance burdens for businesses or their advisers.
The professional body made the observation as ICAS OMB & Practice (Employment & VAT) head of tax Gordon Grant shared the institute's response to two separate consultations.
The two government initiatives are an HMRC consultation on reporting company payments to participators and a joint call for evidence on business systems integration run by HMRC and the Department for Business and Trade.
The systems integration review explored whether connecting commercial software platforms such as accounting packages, banking portals, e-commerce tools and point-of-sale systems could help businesses maintain records more accurately and efficiently.
ICAS noted that linked software ought to reduce administrative workloads and raise data quality.
#government
The professional body made the observation as ICAS OMB & Practice (Employment & VAT) head of tax Gordon Grant shared the institute's response to two separate consultations.
The two government initiatives are an HMRC consultation on reporting company payments to participators and a joint call for evidence on business systems integration run by HMRC and the Department for Business and Trade.
The systems integration review explored whether connecting commercial software platforms such as accounting packages, banking portals, e-commerce tools and point-of-sale systems could help businesses maintain records more accurately and efficiently.
ICAS noted that linked software ought to reduce administrative workloads and raise data quality.
#government
1 day ago
US stock futures wavered on Monday as investors weighed the Federal Reserve's next policy move and awaited a slate of retail earnings this week.
Futures on the Dow Jones Industrial Average (YM=F) slipped 0.2%. Those on the S&P 500 (ES=F) gained 0.1% after the benchmark index posted its third straight weekly gain. Contracts for the Nasdaq-100 (NQ=F) rose 0.5% after a relatively calm week on Wall Street.
Investor attention turns toward retail earnings and oil prices this week, with fewer market-moving economic data releases on the calendar. Big-box stores, including Walmart (WMT), Target (TGT), Lowe's (LOW), and Home Depot (HD), report quarterly results this week, providing insights into consumer health during the important back-to-school shopping season.
Traders, meanwhile, pulled back the odds of a September rate hike at the Fed's Jackson Hole meeting to less than one-third, as inflation and jobs data have created a mixed economic picture.
Oil prices remain a key factor for markets and the Fed as the US takes an economic approach to the war in the Middle East. Brent crude (BZ=F) futures, the international benchmark, edged up to $89 per barrel on Monday. At the same time, financial markets have tightened, with the 10-year (^TNX) and 30-year (^TYX) Treasury yields rising 5 basis points as of Friday's close.
#prices
Futures on the Dow Jones Industrial Average (YM=F) slipped 0.2%. Those on the S&P 500 (ES=F) gained 0.1% after the benchmark index posted its third straight weekly gain. Contracts for the Nasdaq-100 (NQ=F) rose 0.5% after a relatively calm week on Wall Street.
Investor attention turns toward retail earnings and oil prices this week, with fewer market-moving economic data releases on the calendar. Big-box stores, including Walmart (WMT), Target (TGT), Lowe's (LOW), and Home Depot (HD), report quarterly results this week, providing insights into consumer health during the important back-to-school shopping season.
Traders, meanwhile, pulled back the odds of a September rate hike at the Fed's Jackson Hole meeting to less than one-third, as inflation and jobs data have created a mixed economic picture.
Oil prices remain a key factor for markets and the Fed as the US takes an economic approach to the war in the Middle East. Brent crude (BZ=F) futures, the international benchmark, edged up to $89 per barrel on Monday. At the same time, financial markets have tightened, with the 10-year (^TNX) and 30-year (^TYX) Treasury yields rising 5 basis points as of Friday's close.
#prices
