ICAEW Insights: Blurring boundaries, e-money accounts and the future of tax

ICAEW Insights

Welcome to this ICAEW Insights podcast, where we analyse the latest news from the world of accountancy, business and finance.

On this show, we’ll look at how the boundaries between accountants’ personal and business lives have blurred during the pandemic, resulting in a rising number of disciplinary cases involving social media. What are the professional bodies doing about this?

ICAEW has responded to the government’s future-facing Tax Administration Framework Review, which is likely to affect all taxpayers, businesses and those who advise them. We’ll examine the review and ask why the Institute has called for more resourcing for HMRC to deliver the government’s vision.

Details of the fifth self-employment income support scheme grant have been released - how different is it from its predecessors and what should you look out for?

And what is the difference between an e-money business account and a traditional business bank account, and why does it matter?

Links to resources discussed in the show:
- HMRC needs more resource to rebuild the UK's tax system.
- In-year tax estimates wouldn’t be an accurate basis for payment.
- FCA: fintech firms must clarify non-bank status.
- E-money and what you need to know.
- HMRC publishes guidance on the fifth SEISS grant.
- Self-employment Income Support Scheme (SEISS) - the fifth grant.
- Accountants battle blurred boundaries between personal and professional life.
- CCAB Guidance on Boundaries of Personal and Professional Life in Ethics.

Host:
Tom Herbert, online editor ICAEW Insights, We Are Sunday
Guests:
- Philippa Kelly, Director, Technical Strategy Business Group, ICAEW
- Lindsey Wicks, Technical Editor, ICAEW Tax Faculty
- Sophie Wales, Director, Technical Strategy, Tax, Ethics & Law Group, ICAEW
Producers:
Guy Ruddle, Natalie Chisholm
Episode first published: 22 July 2021
Podcast recorded: 19 July 2021