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Image for frs 102 ten things you need know about new uk gaap accounting rules

Finance | FRS 102: Ten things you need to know about new UK GAAP accounting rules

The new UK GAAP sees an overhaul of UK accounting rules with the introduction of FRS 102. Our expert Helen Lloyd FCA provides essential tips and practical help on what to consider when adopting new UK GAAP, which must be implemented now

29 Jan 2016

Finance

UK GAAP

Image for mps begin shifting sands tax inquiry

Tax | MPs begin ‘shifting sands’ tax inquiry

The Treasury select committee’s newly announced ‘Shifting Sands’ inquiry into UK tax policy and the tax base kicks off with its first session next week, which will hear evidence from CIOT, the Office of Tax Simplification (OTS) and veteran tax campaigner Richard Murphy chaired by Andrew Tyrie MP

29 Jan 2016

Tax

Tax Planning

Image for hmrc withdraws ir35 scheme tax avoidance list

Tax | HMRC withdraws IR35 scheme from tax avoidance list

HMRC has updated the reviewed tax avoidance scheme reference numbers (SRN), confirming that it has withdrawn one of the schemes operated by Montpelier, and which the tax authority has recently decided should not have been targeted for accelerated payment notices (APNs)

29 Jan 2016

Business | Tips and advice: accounting careers in not-for-profit and charity sectors

What is it like playing a financial role in a charity? As issues of trust and governance rumble through the charity sector, Rosemary Spencer, director of finance & resources at Cause4, considers career skills for accountants looking to move into the not-for-profit sphere

29 Jan 2016

Business

Accountancy Firms

Leadership & Management

Careers

Image for apprenticeship levy cost public sector ps700m annually

Tax | Apprenticeship Levy to cost public sector £700m annually

The Apprenticeship Levy announced at the Autumn Statement will cost public sector employers around £700m when it is introduced in 2017, the Chancellor of the Exchequer has revealed

29 Jan 2016

Tax

Employment Tax

Tax Compliance

Image for charity commission updates finance guidance trustees

Business | Charity Commission updates finance guidance for trustees

The Charity Commission has published updated finance guidance for trustees, designed to streamline and clarify its advice ahead of a full review of the guidance later this year

29 Jan 2016

Business

Law & Guidance

Leadership & Management

Image for ifrs foundation recruit members sme implementation group

Finance | IFRS Foundation to recruit members for SME Implementation Group

The IFRS Foundation has launched a recruitment drive for new members for the SME Implementation Group (SMEIG), which was set up to support the international adoption of IFRS for SMEs and monitor its implementation, particularly where there are complex interpretation issues

29 Jan 2016

Finance

IFRS

Leadership & Management

Careers

Image for self assessment deadline missed more women men

Tax | Self assessment deadline missed by more women than men

Analysis from HMRC suggests men win the battle of the taxes as they are more likely than women to complete their self assessment tax return on time, while Northern Ireland taxpayers are the best performers and Londoners the worst when it comes to meeting the 31 January deadline

29 Jan 2016

Tax

Personal Tax

Tax Compliance

Image for people news bdo pwc creaseys shaw gibbs scott moncrieff

HR | People in the news: BDO, PwC, Creaseys, Shaw Gibbs, Scott-Moncrieff

In the latest career moves at accountancy firms, BDO ramps up partner numbers, PwC looks to boost Scottish devolution team, Scott-Moncrieff makes board changes and EY expands fraud investigation and dispute services team

29 Jan 2016

Leadership & Management

Careers

Image for scottish insolvency rates fall economy strengthens

Business | Scottish insolvency rates fall as economy strengthens

Personal insolvency levels in Scotland are continuing to decline according to the latest figures from Accountant in Bankruptcy (AiB) which show the total has dropped 11% on the same period a year ago

29 Jan 2016

Business

Restructuring & Insolvency

Image for ias 7 amended improve disclosure financing liabilities

Finance | IAS 7 amended to improve disclosure of financing liabilities

The IFRS standard setter, the International Accounting Standards Board (IASB) has issued amendments to IAS 7 Statement of Cash Flows to improve disclosure reporting on changes in companies' financing liabilities which are likely to increase costs for company reporters

29 Jan 2016

Finance

Financial Reporting

IFRS

Business | Hairdressers’ tax fraud styles two-year jail sentence

Two men who owned hairdressing salons in Manchester have been jailed for smuggling over 2.5 tons of tobacco into the UK in a £450,000 tax fraud, following an HMRC investigation

29 Jan 2016

Business

Called to Account

27 Jan 2016

Image for audit exemption threshold be raised eu maximum ps102m

Finance | Audit exemption threshold to be raised to EU maximum of £10.2m

The government is to raise the audit exemption threshold to the maximum allowed under the EU’s Audit Regulation and Directive (ARD), dismissing claims from the accountancy profession and others that this would pose a risk to financial reporting

27 Jan 2016

Auditing

Corporate Governance

Image for stagecoach audit just ticket ey

Finance | Stagecoach audit just the ticket for EY

Public transport specialist Stagecoach Group has appointed EY as its external auditors, replacing PwC who have held the position for over a decade

27 Jan 2016

Auditing

Corporate Governance

26 Jan 2016

Image for digital tax accounts raise reporting concerns non broadband users

Tax | Digital tax accounts raise reporting concerns for non-broadband users

In the move to replace self assessment with universal digital tax accounts by 2016, HMRC admits that there will be exceptions for online filers without any access to broadband with plans to allow certain unconnected taxpayers to file by phone, while banks will have to report individual taxpayer's interest payments direct to tax authority, reports Sara White

26 Jan 2016

Tax | Nunn: HMRC changes to log-in procedures stretches belief in tax season

Tax expert Yvette Nunn questions why HMRC in its wisdom changed the log-in procedures for the Government Gateway in the middle of the tax season, which happens at the same time every year and is hardly a surprise on the annual calendar, while the rush of pre-Budget consultations is yet another headache for tax advisers

26 Jan 2016