Businesses that do not have sound tax provision processes are at an elevated risk of damaging their company’s financial health. Interim tax reporting plays a pivotal role in providing valuable financial information between annual reporting periods. Businesses can effectively navigate this process by understanding the significance of interim tax reporting and following best practices. Summary  […] … Read More

The 2024 State of the Corporate Tax Department report by the Thomson Reuters Institute, in collaboration with tax executives, highlights the challenges and opportunities facing tax departments today. With talent shortages looming and technological advancements accelerating, tax departments are at a pivotal juncture. This post delves into the key findings of the report, providing valuable […] … Read More

Indirect taxes can be some of the most perplexing to calculate correctly the first time and filed correctly — especially when paired with HMRC’s Making Tax Digital (MTD) mandates for digital record keeping and reporting. While intended to simplify VAT across the EU, the MTD initiative has contributed to an additional amount of confusion around […] … Read More

The complexities of understanding and managing indirect taxes, when doing business within the UK, can be daunting. In addition to a plethora of ever-evolving domestic regulations and requirements complicated by Brexit, businesses in the UK must also consider challenges in complex areas such as customs and exports. Compliance becomes more challenging every year, with tax […] … Read More

Section 174 Capitalisation of the Tax Cuts and Jobs Act (TCJA) has created confusion for many corporate tax specialists to work through in the coming months. Pending legislation is complicating matters even further. Panelists from the Thomson Reuters webinar, Section 174: What We Now Know, discussed these challenges, and provided key insights to help tax […] … Read More

In today’s rapidly evolving financial landscape, open banking has emerged as a game-changer, revolutionising the way financial institutions operate and interact with their customers.  Particularly prominent in the UK, open banking signifies a modernised method of sharing financial information and services through standardised APIs. It encourages collaboration and competition in the financial sector, giving customers […] … Read More