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PSD2 - PAYMENT SERVICES DIRECTIVE

George Rosevear PSD2

Anyone selling or buying in the European Union (EU) or the European Economic Area (EEA), needs to be aware of a revision to the Payment Services Directive, which is coming into force on 14 September 2019.  This revised Directive is intended to increase protection against online fraud for anyone buying or selling goods and services within the EU or EEA. The Payment Services Directive is an EU Directive, administered by the European Commission to regulate payment services and payment service providers throughout the European Union and European Economic Area. The Directive's purpose was, and still is, to increase pan-European competition...

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MAKING TAX DIGITAL UPDATE

Mary Talbot-Rosevear

Accounting Standards compliant to EU standards. There are some ironies. The Accountancy profession spent three years aligning its presentation of Corporate Accounts with the EU’s preferences, and the profession continues to operate with these new standards. Should the UK leave the EU, will those standards remain as they are or be tinkered with again? Who knows? Making Tax Digital [MTD] – A good idea from Sweden? During the past couple of years, the profession has also been preoccupied with preparing for Making Tax Digital [MTD]. MTD for VAT Her Majesty’s Revenue & Customs [HMRC] took the soft option and applied...

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ON THE BRINK

George Rosevear

Sitting and contemplating this headline, we now know the outcome of the House of Lords’ deliberations on the legislation to pass a Bill to prevent a no deal Brexit...

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BANK OVERDRAFT CHARGES SLASHED

George Rosevear

Banks will no longer be able to charge exorbitant amounts for unauthorised overdrafts, following the announcement by the City regulator, the Financial Conducts Authority (FCA), of radical reforms to try to fix a dysfunctional market. The changes will come into force next year in April 2020 and apply to personal bank accounts. Currently, bank customers can be charged if they accidently go over their account limit. The FCA’s proposal will limit the banks’ ability to penalise customers to the extent that they currently. The banks will only be able to charge the same amount as authorised overdrafts. The FCA expects...

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Payslips required...

Mary Talbot-Rosevear

PAYSLIPS REQUIRED... FREELANCERS and GIG economy are now entitled to payslips. The requirement, which extends to all workers, including casual and those on ‘zero-hour’ contracts, and not just employees, came into force on 6 April this year. There are several key details that must be included on the payslip, such as: Gross pay and salary Varied rates of pay and hours worked  The amount of any deductions and what they relate to Net wages or salary payable; and The amount and payment method The more complex question is, however, determining whether someone is an employee, worker or self-employed contractor. G...

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