Updates on financial regulations and compliance requirements
Mustafa Suleyman, Microsoft AI CEO and DeepMind co-founder, told the FT that most workers won't need jobs within 12-18 months. This from the man stripped of management duties in 2019 after staff bullying complaints. His timeline contradicts his own 10-year AGI prediction from April 2025.
One Call Consultants Ltd lost its tribunal appeal after HMRC denied £314,401 in input tax under Kittel principles. The FTT ruled the director should have known payroll suppliers were part of a fraud chain. Director hit with personal liability penalty.
PwC eliminated its US talent acquisition department this week, from senior managers down to campus recruiters and nearshore staff. The cuts signal a firm betting heavily on contractors over permanent hires for the next 24 months.
The UK government finalised UK SRS S1 and S2 on 25 February 2026, endorsing ISSB standards with local tweaks. Voluntary now, mandatory from 1 January 2027 for listed issuers, with no delay on Year 1 climate disclosures.
More than a dozen states are weighing property tax cuts or elimination. Schools receive over a third of their funding from these levies. Florida's House just passed a constitutional amendment to phase out non-school property taxes by 2037.
UHY has acquired Larson Tax Partners in St. Louis, the third acquisition in a month as the top-25 firm pushes toward $1 billion revenue. Summit Partners' December capital injection is funding the spree.
More than a dozen US states are pursuing property tax cuts or elimination in 2026, jeopardising over a third of K-12 school funding. Wyoming already killed full elimination, but November ballots in Tennessee and Wyoming will test voter appetite. Ohio's governor warns replacement would require sales tax of 17-20%.
IRS Criminal Investigation ran 3.9 million searches of BSA filings in FY2025, with 94% of cases touching suspicious activity reports or currency transaction reports. The conviction rate for BSA-linked cases hit 98%, averaging 42 months prison time.
HMRC confirmed the new mandatory registration system launches 18 May 2026, with staged deadlines through November. Three months out, the guidance remains thin on specifics. Professional bodies are asking for more detail before Finance Bill clauses lock in.
The DOJ assured courts refunds would flow if tariffs were struck down. Now the administration faces its own words in litigation. Over 1,500 companies have already filed claims.
Employment Hero survey finds four in five Australian employees have no idea Payday Super starts 1 July 2026. Nearly 60% of businesses are similarly clueless. For CFOs and accountants, this means explaining the change while simultaneously implementing it.
UK tax advisers and accountants interacting with HMRC on behalf of clients must register from May 2026. Three-month transition window. Non-compliance carries £5,000+ fines.