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Image for ftt rules interplay hmrcs civil and criminal powers gold nuts case

Tax | FTT rules on interplay of HMRC’s civil and criminal powers in Gold Nuts case

The First Tier Tribunal (FTT) has decided various preliminary issues concerning the interaction of self-assessment and corporation tax enquiries, penalty notices and possible criminal prosecution in a complex case concerning a Code of Practice 9 (COP9) enquiry involving the director of a company called Gold Nuts Ltd who strongly denied any wrongdoing

19 Feb 2016

Business | Accountants advised to have more fun at work

Accountants need to lighten up in order to be better at their job, according to research from BrightHR, which suggests those in finance put the least value on having fun at work despite working in a highly pressurised environment

19 Feb 2016

Business

Companies

Accountancy Firms

Leadership & Management

Careers

Image for self employed driving structural change jobs market

Business | Self-employed driving ‘structural change’ in jobs market

A hike in the number of self-employed has seen a 154,000 rise in the three months leading up to December 2015, compared to the same period in 2014, and now stands at a record high of 4.6m

19 Feb 2016

| Weak financial governance plagues charities, warns ACCA

A lack of robust financial control and problems with governance standards at charities, coupled with criticism of aggressive fundraising methods is eroding trust in the charity sector, according to a joint report from ACCA and Responsible Finance

19 Feb 2016

Corporate Governance

Business

Accountancy Firms

Leadership & Management

Careers

Image for shop direct group must pay corporation tax ps125m vat refund

Tax | Shop Direct Group must pay corporation tax on £125m VAT refund

The Supreme Court has ruled that catalogue company Shop Direct Group (SDG) must pay corporation tax on a £125m VAT repayment relating to overpayments made over many years by companies in the Littlewoods corporate group which no longer trade, confirming earlier rulings handed down by the First Tier Tribunal, Upper Tribunal and Court of Appeal, reports Pat Sweet

19 Feb 2016

HR | People in the news: Bishop Fleming, BDO, KPMG, PwC, Leonard Curtis

In the latest career moves at accounting firms, promotions at Bishop Fleming's southwest office, pensions head for KPMG, hires at Leonard Curtis Busiensss Solutions Group and bitcoin expert joins PwC

19 Feb 2016

Leadership & Management

Careers

Image for hmrc clarifies flexible withdrawal help buy isa

Tax | HMRC clarifies flexible withdrawal for help to buy ISA

HMRC has published a policy paper updating the information on new rules on withdrawals and cash replacements to Individual Savings Accounts (ISAs), introduced in the March Budget 2015, to reflect the new help to buy ISA

18 Feb 2016

Tax

Personal Tax

Property Tax

Image for company failure sees royal charities and holiday makers lose out

Finance | Company failure sees Royal charities and holiday-makers lose out

The Insolvency Services has disqualified two directors of a holiday tour operator for a total of 14 years after the pair failed to ensure that over £200,000 raised for charity under commercial participation agreements was paid to charities, including one set up by Prince Harry

18 Feb 2016

Finance | FASB sets release date for lease standard for US GAAP

The US Financial Accounting Standards Board (FASB) has confirmed that the new Leases Accounting Standards Update will be released on 25 February, bringing US GAAP reporters in line with IFRS 16's release last month

18 Feb 2016

Business | Upgraded internet security protocol for Bacs payments

Businesses are being warned that failure to keep up to date with changes to internet security could see them locked out of secure websites, including the Bacs scheme used to make salary or supplier payments or to collect by direct debit, because of the introduction of a new security protocol

18 Feb 2016

Finance | KPMG drives off with Auto Trader audit

KPMG is to take over from PwC as external auditor of Auto Trader Group, ending the firm’s 11-year relationship with the digital automotive marketplace, following a formal tender process overseen by the company's audit committee

18 Feb 2016

Auditing

Corporate Governance

Business | Coach company reaches end of road

Bob Maxwell, partner, and Andrew Mackenzie, director, of Begbies Traynor have been appointed as joint administrators of South Yorkshire coach company, Tates Travel Ltd which has collapsed with the loss of 62 jobs

18 Feb 2016

Business

Restructuring & Insolvency

Image for leases standard will cause less problems us gaap reporters

Finance | Leases standard will cause less problems for US GAAP reporters

Changes to lease accounting will affect US GAAP and IFRS reporting companies differently following the failure of IASB and FASB to agree a fully converged lease standard, reports Sara White

17 Feb 2016

Finance

Financial Reporting

IFRS

Image for hmrc plans 20 february maintenance set service

Tax | HMRC plans 20 February maintenance for SET service

The HMRC Secure Electronic Transfer (SET) online service will be unavailable for several hours this weekend for scheduled maintenance so businesses and agents will not be able to download large data files over the period

17 Feb 2016

Tax

HMRC

Tax Compliance

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Latest news

Tax | FTT rules on interplay of HMRC’s civil and criminal powers in Gold Nuts case

Business | Accountants advised to have more fun at work

Business | Self-employed driving ‘structural change’ in jobs market

| Weak financial governance plagues charities, warns ACCA

Tax | Shop Direct Group must pay corporation tax on £125m VAT refund

HR | People in the news: Bishop Fleming, BDO, KPMG, PwC, Leonard Curtis

Tax | HMRC clarifies flexible withdrawal for help to buy ISA

Finance | Company failure sees Royal charities and holiday-makers lose out

Finance | FASB sets release date for lease standard for US GAAP

Business | Upgraded internet security protocol for Bacs payments

Finance | KPMG drives off with Auto Trader audit

Business | Coach company reaches end of road

Finance | Leases standard will cause less problems for US GAAP reporters

Tax | HMRC plans 20 February maintenance for SET service