Business Innovation and Skills have published a discussion paper on "The Register of People with Significant Control (PSC Register)". BIPA has responded and welcomes the proposal to establish the PSC Register in the form described and looks to support its successful implementation.
BIPA believes that more information is always better than less information and that the provision of this data in an accurate, consistent and easy to understand format will aid BIPA members in the accurate credit scoring of businesses. This should facilitate more trade by improving the decision making process when companies extend trade credit to customers and further help in the fight against fraud.
Business Innovation and Skills have published a discussion paper on – UK Implementation of the EU Accounting Directive.
BIPA has responded to the above and welcomes the opportunity to comment on the consultation.
BIPA does not support the implementation of the new financial reporting regime and believes the continued reduction of accounts filing in the UK is a backward step. If it is implemented then BIPA would recommend a simple transition that can be easily implemented; managing multiple financial reporting regimes could introduce unnecessary confusion and complexity to business.
Small Business, Enterprise and Employment Bill has now proceeded through the Select Committee stage and BIPA welcome the opportunity of working with Government on the implementation of the Bill which includes the publication of the VAT Register.
The Bank of England published a discussion paper entitled - Should the availability of UK credit data be Improved?
BIPA has responded to the above discussion paper, welcomes the opportunity to comment on the points raised and sees this as an opportunity to further engage in the current debate on credit data provision and in particular the issues around SME access to credit.
BIPA believes that a solution that allows the provision of wider credit information, via existing CRAs, will both improve credit scoring and help achieve the potential benefits desired in the discussion paper in a timely and cost-effective manner. This can be achieved through the development of existing structures which will avoid the costs to the taxpayer of the establishment and development of any proposed new public structures.
The Government publishes the Small Business, Enterprise and Employment Bill which includes legislation to provide a controlled release of non-financial VAT registration data. BIPA supports this proposal and will continue to work with the government on this important initiative which will result in significant benefits for the country.
The Bill also contains proposals on Company Transparency and SME access to finance. BIPA will also be looking to engage with the Government on these issues.
Chancellor announces the government’s intention to legislate to provide a controlled release of non-financial VAT registration data in his budget. BIPA supports this move and looks to work with the government on this important initiative