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Image for buy let taxation property incorporation part 3

Tax | Buy-to-let taxation: property incorporation - part 3

In part three of our exclusive series on buy-to-let taxation, Lucy Brennan, private wealth partner at Saffrey Champness considers the merits of incorporating your property portfolio, particularly in light of tighter rules on tax reliefs for landlords

24 Jan 2017

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Business | Government loses Article 50 appeal

The Supreme Court has ruled that government does not have the power to trigger Article 50 without parliamentary approval first but, Scottish Parliament and Welsh and Northern Ireland assemblies do not need to be consulted

24 Jan 2017

Image for hmrc lists eccentric failed expenses claims

Tax | HMRC lists eccentric failed expenses claims

Ahead of next week’s deadline for online self assessment returns, HMRC has released a list of the most outlandish expenses claims, with glamorous holidays abroad, luxury watches and Friday nights out all featuring

24 Jan 2017

Image for frc holds open meeting 201718 priorities

Finance | FRC holds open meeting on 2017/18 priorities

The Financial Reporting Council (FRC) is holding its annual priorities meeting at the start of next month, to which stakeholders are invited to discuss the regulator’s focus of activity for 2017/18.

24 Jan 2017

Financial Reporting

Corporate Governance

Image for bt rings ps530m italian accounting errors

Finance | BT rings up £530m in Italian accounting errors

BT has issued a profit warning after discovering accounting errors totalling £530m rather than its original £145m estimate as a result of ‘inappropriate behaviour’ in its Italian business, following an internal investigation and a review by KPMG

24 Jan 2017

Financial Reporting

Accountancy Firms

Called to Account

Image for lords scrutinise making tax digital proposals

Tax | Lords to scrutinise Making Tax Digital proposals

The House of Lords Economic Affairs Committee has set up a Finance Bill sub-committee (FBSC) to inquire into the draft Finance Bill 2017, examining proposals to Making Tax Digital (MTD) that will apply to individuals, businesses and landlords

24 Jan 2017

Accountancy Firms

Image for kpmg says super cases push uk fraud over ps1bn barrier

Business | KPMG says ‘super cases’ push UK fraud over £1bn barrier

The value of alleged fraud reaching UK courts broke the £1bn barrier for the first time in five years in 2016, due to a resurgence in 'super cases' involving losses of £50m or more, according to research by KPMG

24 Jan 2017

Accountancy Firms

Image for christian charity trustees censured over accounting failures

Business | Christian charity trustees censured over accounting failures

A Charity Commission inquiry into Apostolic Faith Mission International Ministries UK has censured the charity’s trustees for repeatedly failing to file its accounts and has concluded they were responsible for mismanagement and misconduct

24 Jan 2017

Accountancy Firms

Called to Account

23 Jan 2017

Image for salary sacrifice car schemes dispelling myths

Tax | Salary sacrifice car schemes: dispelling the myths

In the Autumn Statement 2016 Chancellor, Philip Hammond, confirmed plans to overhal the tax advantages of many salary sacrifice schemes, including company cars. David Hosking, CEO of Tusker unpicks the facts and truths behind the top ten most common misconceptions over upcoming tax change

23 Jan 2017

Image for rd reliefs integral mays industrial strategy

Tax | R&D reliefs integral to May's industrial strategy

The government has issued a green paper on future industrial strategy outlining plans to review tax breaks for investment in research and development (R&D), enhance training provision and increase capital investment

23 Jan 2017

Accountancy Firms

Image for trump releases 100 day plan setting out tax reform

Tax | Trump releases 100-day plan setting out tax reform

President Trump has released his 100-day action plan to ‘make America great again’ after being inaugurated as the 45th president by cutting corporation tax to 15% and simplifying tax rates for individual taxpayers

23 Jan 2017

International Tax

Image for ecj ruling uk and gibraltar one entity gambling tax

Tax | ECJ ruling on UK and Gibraltar as ‘one entity’ for gambling tax

A European Court of Justice (ECJ) ruling that the UK and Gibraltar should be deemed as ‘one entity’ in their freedom to provide services has struck a major blow to the island’s gambling industry, which was seeking exemption from the UK’s 15% point of consumption (POC) tax on gambling operators active in the UK

23 Jan 2017

International Tax

Image for hmrc confiscates ps12m money launderers

Business | HMRC confiscates £1.2m from money launderers

A couple from Middlesex who ran a money laundering service from their family-owned bureaux de change outlets in central London have been stripped of cash in offshore bank accounts, jewellery and property to repay more than £1.2m, or face a further four years each in prison

23 Jan 2017

Called to Account

Image for iasb sets transition group ifrs 17 insurance contracts

Finance | IASB sets up transition group for IFRS 17 Insurance Contracts

The International Accounting Standards Board (IASB) is to set up a transition resource group to support the implementation of IFRS 17 Insurance Contracts, which is set for a May 2017 release

23 Jan 2017

Financial Reporting

Accountancy Firms

Image for one third tax agents say hmrc services going downhill

Tax | One third of tax agents say HMRC services going downhill

Despite HMRC’s avowed intention of improving customer service performance, research by ICAEW has found little change to the quality of HMRC service standards over the past year, with 80% of agents polled failing to identify improvements

23 Jan 2017

Accountancy Firms

Image for devolved administrations seek clarity uk budget timings

Tax | Devolved administrations seek clarity on UK budget timings

Ahead of the final March Budget, a trilateral meeting of the finance ministers of Scotland, Wales and Northern Ireland has called for the UK government to strengthen arrangements for consulting the devolved administrations in advance of future Budgets, and challenged plans for £3.5bn of further cuts in 2019-20

23 Jan 2017

Image for hmrc crackdown brings extra ps468m smes

Tax | HMRC crackdown brings in extra £468m from SMEs

An HMRC crackdown on small and mid-sized businesses (SMEs) brought in an additional £468m in tax from investigations last year, according to research by UHY Hacker Young

23 Jan 2017

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Business | Insolvency Service releases timetable for statutory forms

The Insolvency Service has given notice of the procedures it will follow to withdraw and replace all statutory forms relating to insolvency procedures from 6 April 2017, as part of the changes introduced by the Insolvency (England & Wales) Rules 2016

23 Jan 2017

Restructuring & Insolvency

Image for business optimism drops uk financial services

Business | Business optimism drops in UK financial services

Sentiment amongst financial services firms deteriorated further in the three months to December, but there are signs of an improvement in business conditions over the next quarter for some sectors, according to research from PwC

23 Jan 2017

Accountancy Firms

20 Jan 2017

Image for micro businesses preparing auto enrolment pensions

Business | Micro businesses: preparing for auto enrolment pensions

By 2018 all employers will have to provide a workplace pension for their employees, otherwise known as automatic enrolment, including the latest tranche of stages in many of the UK's smallest business. Croner-i experts explain which workers are exempt from auto enrolment and the key dates for employers to consider

20 Jan 2017

Accountancy Firms

Image for former chancellor osborne joins blackrock

Tax | Former Chancellor Osborne joins BlackRock

Former Chancellor George Osborne is to join the world’s largest fund manager BlackRock as a part-time senior adviser

20 Jan 2017

Image for barratts cfo leaves role after 14 months

Business | Barratt’s CFO leaves role after 14 months

The Board of Barratt Developments plc has announced that chief financial officer (CFO), Neil Cooper, has left the company with immediate effect just over a year after he joined

20 Jan 2017

Leadership & Management

Image for brexit and elections hit european business confidence

Business | Brexit and elections hit European business confidence

Business confidence in the eurozone has hit its lowest level since 2012, amid concerns over Brexit and forthcoming European elections with Germany, France and the Netherlands all set to go to the polls this year

20 Jan 2017

Accountancy Firms

Image for meps reject incomplete anti money laundering blacklist

Finance | MEPs reject incomplete anti money laundering blacklist

By a large majority, MEPs have voted to reject a European Commission proposal for a blacklist of states at risk of money laundering on the grounds it is not comprehensive enough

20 Jan 2017

Financial Reporting

Corporate Governance

Accountancy Firms

Image for ivsc revises global standards valuation

Business | IVSC revises global standards for valuation

The International Valuation Standards Council (IVSC), the global standard setter for valuation practice and the valuation profession, has launched its latest set of valuation standards, which will effect financial services and real estate sectors

20 Jan 2017

Accountancy Firms

Image for people news mha macintyre hudson rsm carey olsen

| People in the news: MHA MacIntyre Hudson, RSM, Carey Olsen

The week's latest appointments including a director of corporate finance at MHA MacIntyre Hudson, RSM appoints a forensic partner and hires a head for RSM legal, Carey Olsen adds a senior associate to its British Virgin Island’s team

20 Jan 2017

Image for ps168m support carbon capture storage not value money

Business | £168m support for carbon capture storage ‘not value for money’

Attempts by the Department for Business, Energy and Industrial Strategy (BEIS) to start the adoption of carbon capture storage (CCS) have been unsuccessful, and the £168m spent on support for companies to adopt the technology has not been value for money, according to the National Audit Office (NAO)

20 Jan 2017

Accountancy Firms

AI & Technology

Image for nlw increases pressure wage hikes

Business | NLW increases pressure for wage hikes

Over a third of businesses say the introduction of the national living wage (NLW) is putting pressure on them to increase wages, according to research carried out by the Reward and Employee Benefits Association (REBA) in association with JLT Employee Benefits

20 Jan 2017

Accountancy Firms

Image for scottish schools face financial management issues warns cipfa

Business | Scottish schools face financial management issues warns CIPFA

Current proposals to reform the £5bn per year Scottish education system could expose schools to significant financial risks, because of a lack of the necessary skills and governance framework, according to CIPFA Scotland

20 Jan 2017

Accountancy Firms

Leadership & Management