Business &amp; Accountancy Daily

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Business | MHA MacIntyre Hudson merges with Birmingham firm Shoesmiths

MHA MacIntyre Hudson is to grow its regional presence with the merger of its Birmingham office with local accountancy practice, Shoesmiths, based in Edgbaston, boosting the firm's growth potential in the west Midlands

1 Apr 2016

Image for multinationals face reputational challenge over tax strategy information

Tax | Multinationals face reputational challenge over tax strategy information

New legal requirements for large companies to publish an annual tax strategy outlining their approach to tax planning, will raise potential reputational risk issues for business as well as adding to the overall costs of compliance, warns law firm Pinsent Masons

1 Apr 2016

Tax | Penalties for National Living Wage non-compliance double

As the National Living Wage comes into force bringing in a pay increase for over one million workers as the minimum rate rises to £7.20 per hour, the government has doubled the size of penalties for non-compliance

1 Apr 2016

Business | People in the news: Mercer & Hole, RGL Forensics, Gibson Booth, Larking Gowen

In a busy week for accountancy jobs, Mercer & Hole’s Alison Palmer is promoted to director, RGL Forensics boosts partner line-up, new intake of partners at both RSM and James Cowper Kreston, and finance chief for Turner Contemporary

1 Apr 2016

Image for treasury publishes public sector sustainability reporting guidance

Finance | Treasury publishes public sector sustainability reporting guidance

The Treasury has published guidance to help public sector organisations meet sustainability reporting requirements, setting out the minimum requirements, some best practice guidance and the underlying principles to be adopted in preparing the information

1 Apr 2016

Finance

Financial Reporting

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Business | Women miss out on international financial services roles

Women working in financial services are in danger of missing out on valuable international experience because of long standing misconceptions about their readiness to work abroad, according to research by PwC

1 Apr 2016

Law & Guidance

Image for hmrc it issue hits stamp duty land tax sdlt returns

Tax | HMRC IT issue hits stamp duty land tax (SDLT) returns

Due to a technical problem on the HMRC website, there are problems filing returns using the new code 04 for transactions using the 3% stamp duty land tax (SDLT) levy payable by second home purchasers and buy-to-let landlords which comes into effect from 1 April

1 Apr 2016

Tax | ATED charge extended to £500k plus properties

In the latest attempt to dampen overseas demand for UK property, the annual tax on enveloped dwellings (ATED) charge has been extended to properties worth £500,000 upwards for non-natural persons and company acquisitions

1 Apr 2016

Tax

Property Tax

Tax Compliance

Tax | Tax updates: April 2016

In a hectic month for tax cases, the long-running Rangers EBT case heads back to court, while bankers at Deutsche Bank and UBS lose fight with HMRC over taxability of bonus scheme, Revell beats HMRC over wrong address claims, while rollout of digital tax accounts leave taxpayers confused about compliance

1 Apr 2016

Tax | Employment tax updates: April 2016

David Heaton, employment tax expert on how HMRC’s rush to move services online leaves tax advisers and payroll teams confused, progress on the employment status review and latest company car advisory fuel rates

1 Apr 2016

Finance | LLP SORP and Regulations - NEW CPD module

The latest CPD module from CCH Daily inc Accountancy Live focuses on limited liability partnerships (LLPs) and the new LLP SORP and Regulations

1 Apr 2016

Finance | People with significant control (PSC) register - what you need to know

The obligation on UK unlisted companies and limited liability partnerships (LLPs) to keep a register of people with significant influence or control (PSCs) over them comes into force on 6 April. Gateley plc law experts considers how the new system will work

4 Apr 2016

Finance | Office of Financial Sanctions Implementation set up to monitor compliance

The Treasury is to set up a compliance regulatory body, the Office of Financial Sanctions Implementation (OFSI), which has been created to help UK businesses comply with financial sanctions

4 Apr 2016

Tax | Bull: tax transparency, CbC reporting and elephants

The introduction of country by country reporting for multinational businesses is meant to improve tax transparency and global momentum behind the move is growing, despite opposition, warns George Bull, senior tax partner at RSM

4 Apr 2016

Tax | VAT updates: April 2016

VAT expert Graham Elliott highlights key VAT cases this month from challenging occupancy issues over a dwelling in Richard Burton, taxable supplies in Norseman Gold and façade retention issues in Boxmoor

1 Apr 2016

31 Mar 2016

Image for special measures regime curb aggressive tax planning big business

Tax | Special measures regime to curb aggressive tax planning at big business

Large businesses who are repeatedly accused of using aggressive tax planning and deemed to be 'uncooperative' with tax inspectors from HMRC are at risk of being put into a new ‘special measures’ regime which will apply to large business, as part of the government's crackdown on corporate tax avoidance

31 Mar 2016

Tax | Essential tax planning: year-end tax tips to beat 6 April deadline

With days to go until the end of the 2015/16 tax year, tax experts at chartered accountants Blick Rothenberg LLP provide a snapshot of last-minute tax planning tips from property tax changes to savings, ISAs, pensions, dividends overhaul and maximising personal tax-free allowances to get financial affairs in order by 6 April

31 Mar 2016

Business | Abingdon accountant spared jail over £250k school fraud

The accounts chief of a catholic educational trust, which runs four private London schools, was spared prison yesterday despite helping herself to nearly a quarter of a million pounds belonging to the organisation she worked for.

31 Mar 2016

Called to Account

Image for hmrc issues tax relief guidance irrecoverable peer peer loans

Tax | HMRC issues tax relief guidance on irrecoverable peer-to-peer loans

HMRC has issued final technical guidance on how individual taxpayers can reclaim income tax relief for irrecoverable peer-to-peer (P2P) loans made through a regulated lending platform

31 Mar 2016

Tax | Nunn: be warned, the ministry wants your inheritance

Moving services online from HMRC's much vaunted digital tax accounts to probate registration services with the Ministry of Justice has coincided with a worrying increase in fees for government delivered services. The latest target seems to be inheritance as probate charges are set to soar, warns Yvette Nunn, director of Berkeley Associates

31 Mar 2016

Tax | Large UK businesses must publish annual tax strategy from 2017

New rules to force large businesses and some partnerships to publish an annual tax strategy are set to come into force later this year and will affect 2,000 of the UK’s largest businesses with a penalty regime in place for those companies that fail to comply

31 Mar 2016

Tax | Disguised remuneration and EBT crackdown to raise £2bn, claims HMRC

Changes announced in the Budget to tackle disguised remuneration avoidance schemes, including employee benefit trusts (EBTs) are set to bring in more than £2bn in additional tax over the life of this parliament, according to ambitous estimates released by HMRC

31 Mar 2016

| FRC seeks lawyers to join disciplinary tribunals

The Financial Reporting Council (FRC) is looking to hire additional legal chairs for its independent tribunals which are set up to hear specific disciplinary and sanctions cases against auditors and accountants facing financial irregularities

31 Mar 2016

Image for budget 2016 key tax changes and implementation dates

Tax | Budget 2016: key tax changes and implementation dates

Our essential snapshot of the key measures announced in Budget 2016, including all the implementation and effective dates for new measures affecting capital gains tax (CGT), corporation tax, property tax, SDLT and IHT, as well as HMRC administrative changes to self assessment

31 Mar 2016

Finance | Corporate Reporting Dialogue statement on materiality in accounts

The Corporate Reporting Dialogue (CRD), a group of eight major standards organisations, has released a statement clarifying the common principles of materiality, as part of moves to encourage greater coherence, consistency and comparability between corporate reporting frameworks, standards and related requirements globally

31 Mar 2016

Finance | BIS extends transparency of foreign investment consultation

The Department for Business, Innovation and Skills (BIS) has extended the closing date of a consultation on ways to increase the transparency of foreign investment in property and public contracts, which will now be open for comment until 4 April

31 Mar 2016

Business | Online bankruptcy application service opens

The Insolvency Service is launching an online application service for bankruptcy from April with fees payable in instalments as part of the government’s drive to improve access to public services

31 Mar 2016

Restructuring & Insolvency