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Image for scale blick rothenberg challenge big four not yet clear

Business | Scale of Blick Rothenberg challenge to Big Four ‘not yet clear’

The new owners of mid-tier firm Blick Rothenberg are set to face enormous hurdles if they are to attempt their reported ambitions of taking on the Big Four, Calum Fuller reports

10 Aug 2016

Accountancy Firms

Leadership & Management

Image for dated partnership tax rules face major overhaul

Tax | Dated partnership tax rules face major overhaul

An overhaul of taxation for partnerships is underway as the government tries to tighten up the rules and keep pace with the changing nature of the partnership structure as rules look increasingly obsolete and unable to deal with modern style partnership structures

10 Aug 2016

Accountancy Firms

Image for agents rebut hmrc calls bank account details ct returns

Tax | Agents rebut HMRC calls for bank account details on CT returns

In the move towards universal digital tax accounts for business, HMRC is trying to force companies to provide bank details on their corporation tax returns, despite kickback by businesses who continue to prefer to receive tax refunds by cheque

10 Aug 2016

Image for innovative finance isa draft legislation published

Tax | Innovative Finance ISA draft legislation published

Draft legislation on a new ISA which some MPs believe could lead to investors taking unnecessary risks has been published by HMRC

10 Aug 2016

Law and Regulation

Image for rupert grint loses ps1m tax refund case

Tax | Rupert Grint loses £1m tax refund case

Actor Rupert Grint, famed for his role in the Harry Potter films, has lost in a First Tier Tribunal (FTT) against HMRC for a £1m tax refund, after a dispute over whether a tax return should be considered as an annual account

10 Aug 2016

Image for how will brexit affect employees working abroad

| How will Brexit affect employees working abroad?

Anne-Marie Welch, partner at RSM comments on tax compliance for employees working in the EU after Brexit

10 Aug 2016

Image for india overhauls sales tax move nationwide vat system

Tax | India overhauls sales tax in move to nationwide VAT system

The Indian government has passed the long-awaited Goods and Services Tax (GST) Bill to create a single market for VAT style payments, abolishing the country’s complicated fragmented sales tax system, set to come into effect by April 2017

10 Aug 2016

International Tax

Image for hmrc consults simplifying psa process

Tax | HMRC consults on simplifying the PSA process

HMRC is consulting for 10 weeks on reforming the PAYE Settlement Agreement (PSA) process with the aim to simplify administration and provide greater clarity on what can be included

10 Aug 2016

9 Aug 2016

Image for oulton dont take your clients hmrc penalties

Tax | Oulton: don't take your client's HMRC penalties

In light of the Blackman case, it is essential for advisers to ensure that their engagement letters are specific and signed as they are an important safeguard for tax advisers when HMRC hands out penalties for careless mistakes, stresses Jim Oulton, partner at Mayer Brown International LLP

9 Aug 2016

Image for revenue scotland cuts penalty rates 025

Tax | Revenue Scotland cuts penalty rates by 0.25%

Revenue Scotland has confirmed it will adopt the Bank of England’s record low interest rate of 0.25% from 10 August 2016 which will see a cut in the interest charged on late payments

9 Aug 2016

Image for trump pledges jump start us economy tax policy

Tax | Trump pledges to ‘jump start’ US economy with tax policy

Controversial Republican US presidential hopeful Donald Trump has promised to ‘jump start America’ by cutting corporate taxes and suspending incoming regulations

9 Aug 2016

Image for hmrc 35 million people using online personal tax account

Tax | HMRC: 3.5 million people using online personal tax account

HMRC’s online personal tax accounts now boast approximately 3.5 million active users, the tax authority claims in its latest update

9 Aug 2016

Making Tax Digital

Image for business warns government national living wage

Tax | Business warns government on national living wage

Trade associations have written to the new Secretary of State for Business, Energy and Industrial Strategy (BEIS) Greg Clark, urging caution over the government’s policy to raise the national living wage significantly by 2020

9 Aug 2016

Image for commercial properties may see business rate hike

Tax | Commercial properties may see business rate hike

A Supreme Court decision on the process used to value non-domestic office and commercial premises occupied by more than one tenant could raise business rates as the Valuation Office Agency is forced to treat different areas of building as separate premises

9 Aug 2016

Law and Regulation

Accountancy Firms

Image for cameron face mps over honours list

Tax | Cameron to face MPs over honours list

The chair of the Public Administration and Constitutional Affairs Committee (PACAC), Bernard Jenkin, plans to invite committee members to investigate former prime minister, David Cameron’s honours list

9 Aug 2016

Image for hmrc releases contradictory information online form

Tax | HMRC releases contradictory information on online form

HMRC has launched an online forms service to allow whistleblowers to report information on pay and work rights, but the information requested in order to proceed and the advice given by HMRC contradicts itself

9 Aug 2016

8 Aug 2016

Image for companies house data wipe proposals very worrying

Finance | Companies House data wipe proposals ‘very worrying’

Advisers have raised serious concerns amid plans for Companies House to delete records of dissolved companies after six years rather than the current 20 year threshold

8 Aug 2016

Law and Regulation

Audit Consultations

Image for us judge gives green light 1bn mf global case against pwc

Finance | US judge gives green light for $1bn MF Global case against PwC

A federal judge in the US has granted permission for collapsed financial derivatives broker MF Global to proceed in a $1bn (£765m) case against PwC’s US arm over poor accounting advice

8 Aug 2016

Law and Regulation

Image for beis confirms frc status audit competent authority post ard

Finance | BEIS confirms FRC status as audit competent authority post-ARD

Following introduction of the EU audit regulation and directive (ARD) in June, the Department for Business, Energy and Industrial Strategy (BEIS) has issued guidance on audit regulatory responsibilities in the UK confirming the Financial Reporrting Council's (FRC) status as competent authority

8 Aug 2016

Corporate Governance

Audit Regulations

Image for ftse 100 bosses get 10 pay rises average hits ps55m

Business | FTSE 100 bosses get 10% pay rises as average hits £5.5m

FTSE 100 bosses take home an average of £5.5m per year as CEO pay packages continue to grow despite increased economic uncertainty, according to new research

8 Aug 2016

Accountancy Firms

Leadership & Management

Image for hmrc carries out goal diversity

Tax | HMRC carries out goal for diversity

In a move to increase the diversity of staff at the tax office, HMRC has set out objectives and a diversity strategy with plans to report progress twice a year

8 Aug 2016

Image for use ifi isa could encourage inappropriate crowdfunding warns tyrie

Tax | Use of IFI ISA could encourage inappropriate crowdfunding, warns Tyrie

The use of Innovative Finance ISAs could lead investors into taking on far greater risk than they can bear, Treasury select committee chairman Andrew Tyrie has warned

8 Aug 2016

Law and Regulation

Image for scotland issues call views impact brexit

| Scotland issues a call for views on the impact of Brexit

The Scottish parliament’s European and External Relations Committee (EERC) has issued a call for evidence to seek views on the implications for Scotland to leave the European Union following Brexit vote

8 Aug 2016