Business & Accountancy Daily

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Business | Brexit: rights for EU citizens working in the UK

Following the Brexit vote, many employers remain uncertain on the future implications of recruiting workers from EU countries. Stuart Chamberlain, employment law specialist, Wolters Kluwer, explores the issues around EU citizens working in the UK and vice versa

6 Jan 2017

Accountancy Firms

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Business | Accounting failures see livestock couple shorn of directorships

A couple who were the directors of an animal husbandry and livestock business in Lancaster have been disqualified from acting as company directors for six years over accounting failures, following an investigation by the Insolvency Service

6 Jan 2017

Restructuring & Insolvency

Called to Account

Image for ftse 350 pension deficits increase threefold

Business | FTSE 350 pension deficits increase threefold

FTSE 350 pension deficits increased more than threefold over the course of 2016, according to the latest data from Mercer, which provides actuarial and benefits consulting services

6 Jan 2017

Accountancy Firms

Image for barclays launches mobile app lending service smes

Business | Barclays launches mobile app lending service for SMEs

Barclays has launched a mobile business lending service to provide instant loans via a mobile app to businesses after research has revealed an economic opportunity to release £34bn of growth from SMEs by 2021

6 Jan 2017

Accountancy Firms

AI & Technology

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Business | Abbey Tax expands services with Gabelle acquisition

Abbey Tax, which provides fee protection and tax and funding consultancy services to accountancy firms, has acquired London-based Gabelle, a specialist tax consultancy, in a bid to expand its services

6 Jan 2017

Accountancy Firms

Image for people news moore thompson haslers hayward wright

| People in the news: Moore Thompson, Haslers, Hayward Wright

This week's news of professional moves in the sector includes a partner promotion and retirement at Moore Thompson, Haslers have appointed a chairman, Hayward Wright adds a member to its team

6 Jan 2017

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Business | ESMA seeks candidates for corporate reporting committee

The European Securities and Markets Authority (ESMA) has issued a call for candidates in order to renew the composition of its consultative working group (CWG) which advises its corporate reporting standing committee (CRSC)

6 Jan 2017

Accountancy Firms

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Business | Gender pay gap progress stalls for older women

The gender pay gap for millennials in their 20s has halved in a generation to just 5%, but women still face a potential lifetime earnings penalty which means pay differences continue to escalate as they enter middle age, according to research by the Resolution Foundation

6 Jan 2017

Accountancy Firms

Image for italy introduces non dom tax

Tax | Italy introduces non dom tax

Italy has introduced a new territorial system of taxation for ‘newly resident’ individuals, with the aim of attracting high net worth individuals (HNWIs), including sportspeople and celebrities, who could be interested in relocating

6 Jan 2017

International Tax

Image for jail term accountant over ps110k unpaid vat

Business | Jail term for accountant over £110K unpaid VAT

An ICAEW-qualified accountant from Northamptonshire has been jailed for14 months for failing to pay £110,000 in VAT he charged on his services, following an HMRC investigation

6 Jan 2017

Called to Account

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Business | Competition toughens for accounting roles

Competition has increased for accountants looking for jobs in 2017 as 115,000 individuals applied for roles in the sector last year, equating to 17 applications per job, according to research from CV-Library

6 Jan 2017

Accountancy Firms

5 Jan 2017

Image for frs 102 related parties and directors remunerations tips and advice

Finance | FRS 102: related parties and directors’ remunerations – tips and advice

In part 13 of this exclusive new UK GAAP series, we will focus on new UK GAAP and accounting for related parties and directors’ remunerations under section 33, highlighting key differences between FRS 102 and the old UK GAAP treatment

5 Jan 2017

Accounting Standards

Financial Reporting

Image for q pre registration vat reclaims

Tax | Q & A: pre-registration VAT reclaims

An overhaul in rules means that the restriction on the amount of VAT claimable before registration has changed. Croner-i experts consider the question: can we reclaim some of the VAT incurred before the date of registration?

5 Jan 2017

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Tax | How to complete a self-assessment form - tips & advice

With the deadline for self-assessment tax returns rapidly approaching on 31 January, John Cullinane, CIOT's tax policy director, provides advice on how to complete and file a return on time to avoid receiving a £100 fine from HMRC to start the new year

5 Jan 2017

Image for wilkins kennedy merges griffins accountants

Business | Wilkins Kennedy merges with Griffins Accountants

Top 20 accountancy firm Wilkins Kennedy has merged with Newbury-based Griffins Accountants, creating a combined firm with 73 partners and an expected turnover of £50m

5 Jan 2017

Accountancy Firms

Image for icaew slams government export advertising campaign

Business | ICAEW slams government export advertising campaign

The government’s £1 trillion export target and advertising campaign has failed to deliver any progress over the last two years according to research by ICAEW, which says there has been no change in the number of businesses exporting, although total exports rose in the latest official statistics

5 Jan 2017

Accountancy Firms

Image for chiene tait partners business angels increase sme funding

Business | Chiene + Tait partners with business angels to increase SME funding

Edinburgh-based accountancy firm Chiene + Tait is to partner with Scotland’s business angel association, Linc Scotland, in bid to encourage more investment into Scottish SMEs with strong growth potential

5 Jan 2017

Accountancy Firms

Image for hmrc updates guidance apn representations

Tax | HMRC updates guidance on APN representations

HMRC has updated its factsheet on tax avoidance and accelerated payment notices (APNs), first published in August 2014, providing more detail on what taxpayers should do if they disagree with an APN

5 Jan 2017

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Business | Government head to tackle workplace exploitation

Sir David Metcalf has been named as the government’s first director of labour market enforcement, to oversee a crackdown on exploitation in the workplace, including tackling minimum wage violations, which will include wider sharing of HMRC data

5 Jan 2017

Accountancy Firms

Image for eu rules cross border tax rulings introduced

Tax | EU rules on cross border tax rulings introduced

The European Commission has introduced new rules which mean that member states have to automatically disclose information on all cross border tax rulings, in an attempt to increase transparency

5 Jan 2017

International Tax

4 Jan 2017

Image for interest deductibility rule change will drive tax bills

Tax | Interest deductibility rule change will drive up tax bills

Nearly 4,000 large businesses can expect significantly higher tax bills upon the introduction of interest deductibility for corporation tax, says Alvarez & Marsal Taxand managing director Kevin Hindley

4 Jan 2017

Law and Regulation

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Finance | Countdown to IFRS 9 and IFRS 15 starts

With one year to go until the effective date for sweeping changes to accounting rules with the introduction of IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers, the International Accounting Standards Board (IASB) has issued a recap on key changes and compliance costs

4 Jan 2017

Accounting Standards

Financial Reporting

Image for us lawyer clayton head sec

Finance | US lawyer Clayton to head up SEC

President-elect Donald J Trump has nominated Jay Clayton as chairman of the US Securities and Exchange Committee (SEC), to take over from incumbent Mary Jo White

4 Jan 2017

Financial Reporting

Corporate Governance

Accountancy Firms

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Business | Cruise company sinks into administration

Eddie Williams, David Dunkley and Matthew Richards of Grant Thornton have beeen appointed as administrators of cruise company, All Leisure Holidays, which has stopped trading leaving holiday goers stranded and 150 people without jobs

4 Jan 2017

Accountancy Firms

Restructuring & Insolvency

Image for 3i may sell agent provocateur amid kpmg accounting probe

Finance | 3i may sell Agent Provocateur amid KPMG accounting probe

Struggling lingerie retailer Agent Provocateur could be sold as it faces an investigation over its accounting practices

4 Jan 2017

Financial Reporting

Image for ftse 100 chiefs overtake average uk salary two days

Business | FTSE 100 chiefs overtake average UK salary in two days

By lunchtime today in the first working week of the year, FTSE 100 chief executives will already have collected the equivalent of the average worker’s salary, marking ‘Fat Cat Wednesday’

4 Jan 2017

Image for disqualification menu curry restaurant director

Business | Disqualification on menu for curry restaurant director

The director of a Brick Lane Indian restaurant, in London’s curry hotspot, has been disqualified from acting as a company director for eight years for failing to provide proper accounting records for his company or pay some £200,000 in taxes, following an Insolvency Service investigation

4 Jan 2017

Restructuring & Insolvency

Called to Account

Image for rugby league club bradford bulls liquidated

Business | Rugby League club Bradford Bulls liquidated

Bradford Bulls, one of the UK’s leading rugby league clubs, has ceased to operate with all staff and players made redundant, following the collapse of attempts by administrators from PBC Business Recovery to negotiate with potential buyers for the financially troubled club

4 Jan 2017

Restructuring & Insolvency

Image for engagement letters and tax clients new cpd module

Tax | Engagement letters and tax clients - NEW CPD module

The latest CCH Daily CPD module focuses on tips and advice on how to write effective engagement letters for tax clients to ensure certain levels of protection in the event of increasingly tough tax sanctions and penalties

4 Jan 2017

Accountancy Firms

Leadership & Management

Image for kpmg wins over half ps673m government contracts

Business | KPMG wins over half of £673m government contracts

The Big Four picked up work worth £673m from government contracts in the year to November 2016, with KPMG taking more than half of the money spent, according to research by Tussell

4 Jan 2017

Accountancy Firms

Leadership & Management

Image for bhp expands sheffield accounting merger

Business | BHP expands with Sheffield accounting merger

Yorkshire-based firm of chartered accountants, BHP has merged with Sheffield based GVT chartered accountants, which was prompted by the terminal illness of a key member of the team

4 Jan 2017

Accountancy Firms

Leadership & Management

Image for icaew supports brexit plan tailored advantage businesses

Business | ICAEW supports Brexit plan tailored to advantage businesses

ICAEW is calling on the UK government to ensure that its preparations for the upcoming Brexit negotiations play to the strengths of the UK economy, and says it should aim for a deal which is tailored to benefit UK business and ensure the ongoing success of the professional services sector

4 Jan 2017

Accountancy Firms