No Accounting for Taste ep123: HMRC penalties, recession and holiday pay

Shetland-based sole practitioner Martin Tegonning beamed into the virtual AccountingWEB podcast booth to discuss the burning issues of the day including MTD ITSA guidance, the Bank of England's predictions of a recession and the recent Supreme Court ruling on holiday pay. Tregonning joined the AccountingWEB team this week to raise concern over the recent Supreme Court ruling that Harpur Trust's holiday pay calculations were unlawful and the impact it's going to have on his clients. The sole practitioner is concerned that the decision has largely flown under the radar of small business clients, who see the verdict as just a typical court case. Tregonning's concern is that he's going to have to come up with a solution and explain a complex case to small businesses and their staff, "[The case shows a] disconnect between the people who make the rules and the reality of running a small business," said Tregonning. Elsewhere, the team rounds up all the latest news from the past seven days, including the looming recession, HMRC penalties and the long wait for MTD ITSA guidance. For links to the items discussed in this podcast, head to: https://www.accountingweb.co.uk/content/no-accounting-for-taste-ep123-hmrc-penalties-recession-and-holiday-pay