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Finance | Report on BHS collapse slates advisers’ ‘group think’

The Work and Pensions (DWP) and Business, Innovation and Skills (BIS) joint select committee examining the sale of BHS and its pension scheme deficit has delivered an excoriating report, saying leadership failures and personal greed led to the retailer’s collapse, while advisers including Grant Thornton were used as an ‘expensive badge of legitimacy for people who would otherwise be bereft of credibility’, reports Pat Sweet
25 Jul 2016
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Tax | EU set to drop VAT charges for ebooks

The future of the chargeable rate of VAT on digital publications and ebooks is back on the agenda at the EU as the European Commission has announced plans for a two-month consultation with a view to abolishing the current full rate VAT
25 Jul 2016
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Tax | HMRC contact centres slated for lack of callback services

HMRC is facing calls for more investment in improving its telephone contact services, despite the department’s commitment to ‘digital by default’, with a report from the government’s Social Security Advisory Committee (SSAC) saying telephony will continue to be an important medium for communication for some time and issues around call waiting times must be addressed
25 Jul 2016
Image for us regulator cracks down auditors fraudulent company

Business | US regulator cracks down on auditors of fraudulent company

The US regulator the Securities and Exchange Commission (SEC) has suspended an accountant for conducting a faulty audit of the financial statements of a public company that was committing fraud, and the firm where he was a partner at the time has been prohibited from accepting new public company clients for one year
25 Jul 2016

22 Jul 2016

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HR | Changing the gender balance in accounting

There is still much talk of the ‘glass ceiling’ and the dearth of women in senior positions on boards and in leading roles in accountancy however, with the gender balance of accountancy trainees shifting in favour of women, it might not take that long to change says, Kate Sayer, tax partner at Sayer Vincent
22 Jul 2016
Image for greek islands vat plans half baked

Tax | Greek islands VAT plans half-baked

Families jetting off to Greece for a summer break now that school holidays have started will find VAT rates have been increased on a second tranche of Aegean islands, even though an earlier VAT increase has resulted in a revenue shortfall, according to local reports
22 Jul 2016
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Finance | Inquiry into financial controls at charity operating in Syria

The Charity Commission, the independent regulator of charities in England and Wales, has opened a statutory inquiry into Deen Team, over concerns about financial management at the charity, which was set up in 2014 but has yet to provide full information about its activities, which include work in Syria
22 Jul 2016
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Business | ICAEW applies to regulate more legal services

ICAEW is spearheading a further push into the legal services market and has applied to become an approved regulator and licensing authority for five additional reserved legal activities, following the institute’s appointment as an approved regulator and licensing authority for probate in 2014
22 Jul 2016

21 Jul 2016

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Business | Big Four in talks with government on Brexit

Accountants’ expertise will be needed as the trade negotiations start following the UK’s vote to leave the EU, the government has confirmed, while the Big Four are building up specialist Brexit teams to meet the demand for advice on the way forward, reports Pat Sweet
21 Jul 2016
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