Business &amp; Accountancy Daily

Pensions

Image for warning hmrcs gamekeeper turned poacher tax experts

Tax | Warning on HMRC’s 'gamekeeper-turned-poacher' tax experts

Management changes and organisational restructuring at HMRC has seen spate of tax officials moving to the private sector with a glut of 'gamekeeper-turned-poacher' tax experts that could undermine the function of the tax authority

11 Feb 2016

Business | Mazars announces 10% rise in profits as fee income heads to £150m

Mid-tier accounting firm Mazars has reported a 14% increase in UK turnover in the year to 31 August 2015 as overall fee income increased from £130.9m to £149.7m

10 Feb 2016

Careers

Image for hmrc and pac go head head over google tax deal

Tax | HMRC and PAC go head-to-head over Google tax deal

Ahead of tomorrow’s session of the Public Accounts Committee (PAC), which is set to examine the recent £130m deal with Google to settle back tax, HMRC has published a factsheet outlining its approach to handling the tax affairs of large companies, saying it wants to ‘help dispel myths’ which have arisen about how HMRC ensures compliance among multinationals

10 Feb 2016

Business | Banks and police join forces to tackle fraud as CEOs targeted

The Home Office is to set up a taskforce bringing together the banks and police to tackle fraud across the UK, as new scams such as online CEO fraud start to proliferate

10 Feb 2016

Companies

Image for glasgow restaurant owner takes away disqualification

Business | Glasgow restaurant owner takes away disqualification

A restaurant owner from Glasgow has been disqualified as a director for eight years for failing to ensure that adequate books and records of the company, Greencrescent Ltd, were preserved and/or delivered up to the liquidator, following an investigation by the Insolvency Service

10 Feb 2016

Called to Account

9 Feb 2016

Image for call cull ps50 note tackle tax evasion

Tax | Call to cull £50 note to tackle tax evasion

High denomination, high value currency notes including the £50 note should be withdrawn in order to tackle tax evasion, money laundering and illicit money flows, according to an analysis prepared by Peter Sands, former group chief executive at Standard Charted Bank and a government adviser

9 Feb 2016

Finance | Editor’s comment: IFRS 16 Leases splits definitions

An overhaul of lease reporting under IFRS 16 Leases means that companies will have to review their complete lease portfolio to avoid an uncomfortable hit on profitability, says Sara White

9 Feb 2016

Finance

Financial Reporting

IFRS

Image for fca internal audits show deficiencies remain

Finance | FCA internal audits show deficiencies remain

The Financial Conduct Authority (FCA) continues to have deficiencies in the way in which it handles crisis management, external communications and market sensitive issues according to the Treasury select committee’s review of the regulator’s internal audits, with MPs vowing to keep a ‘close eye’ on its performance

9 Feb 2016

Auditing

Corporate Governance

Image for top 75 firms survey 2016 merger frenzy

Business | Top 75 firms survey 2016: merger frenzy

Accountancy’s annual Top 75 UK firms survey indicates an acquisitive mood among ambitious mid-tier firms and shifts among the Big Four rankings for the first time in years as annual fee income hits £12.8bn, and EY eclipses KPMG in the rankings. Philip Smith reports

9 Feb 2016

Top 75 Surveys

Image for hmrc defends accelerated payments regime ps2bn tax boost

Tax | HMRC defends accelerated payments regime with £2bn tax boost

HMRC has described the Accelerated Payment Notices (APN) regime as a ‘game changer’, saying it has collected over £2bn in disputed tax since the new rules were introduced in 2014 and is on course to raise its target of £5bn by 2020, despite recently withdrawing 2,000 notices issued in error to investors in an IR35 scheme operated by Montpelier

9 Feb 2016

Business | GSK chair to lead drive to raise number of women on FTSE 350 boards

The government has announced that Sir Philip Hampton, chairman of GlaxoSmithKline, is to lead an independent review on increasing representation of women in the executive level of FTSE 350 companies, where 80% of directorships are held by men

9 Feb 2016

Companies

Careers

Business | FCA harpoons JP Morgan exec with £800,000 ‘London Whale’ fine

The Financial Conduct Authority (FCA) has a fined a former senior executive with JP Morgan £792,900 for failing to be open and co-operative with the regulator’s predecessor, the Financial Services Authority (FSA) in relation to some $6bn (£4.1bn) of trading losses recorded by an employee nicknamed the ‘London Whale’

9 Feb 2016

Called to Account

Business | KS International and Morison International merge to create $1bn association

Two international associations of independent accountancy firms have merged, with KS International (KSi) and Morison International (MI) combining to form a $1bn (£693m) entity, to be known as Morison KSi

9 Feb 2016