In the third of our exclusive series on small company accounting, Anne Cowley ACA provides useful tips and advice on the move to the new accounting rules for small business
Law firm Quinn Emanuel Urquhart & Sullivan is reported to be developing a claim against BT from shareholders and fund managers over the accounting scandal uncovered in its Italian business which saw the company issue a profits warning and resulted in a substantial drop in its share price
In the latest move to reduce financial regulatory burden, President Trump has signed an executive order to begin the process of scaling back financial regulations implemented as a result of the Dodd-Frank Act
HMRC has now agreed to review all the cases passed over to outsourcer Concentrix which resulted in a claimant’s tax credits being amended or terminated, as recommended by the work and pensions select committee’s inquiry into the highly controversial contract which was terminated early in September last year
Only 5% of FTSE 100 companies have a director with specialist technology or cyber security experience, despite the fact that 87% recognise cyber threats as a principal risk in their disclosure reporting, according to research by Deloitte
The media and entertainment industry is expected to receive tax breaks worth £565m, a 9% increase on the £530m recorded last year, according to research from Moore Stephens, which suggests the corporation tax relief for British-based productions is providing a strong stimulus to UK video games developers and film, TV, animation and theatrical production companies
Tax experts and software representives have been called to give evidence before the House of Lords Economic Affairs Finance Bill sub-committee on government proposals to roll out Making Tax Digital (MTD) quartery reporting for small businesses and residential landlords from 2018
Baker Tilly International’s combined revenues have grown 6.2% for the year ended December 2016 to reach $3.235bn (£2.6bn) and the number of partners and staff is up 8.9%, despite the departure of two US member firms
The Institute for Fiscal Studies (IFS) says the way the tax system treats the self-employed, owner-managers and employees are ‘costly, inefficient and unfair’ and says a new approach is required following its research into changes in the labour market
Quarterly reporting under Making Tax Digital will become mandatory for unincorporated businesses, sole traders, buy-to-let landlords and the self employed from April 2018. We asked CCH tax writer Stephen Relf CTA ACA to delve into the detail and explain the implications from quarterly reporting deadlines to penalties and higher cash basis limits
Fears in the workplace are affecting half of accounting professionals as well as stalling job progression. Lee Biggins, founder and managing partner of CV-Library, explains what is holding accounting professionals back and how employers can help them to overcome these fears
The latest scandals, cases and penalties including a ten-year ban for a director's £900k tax failures, jail term for accountant over £110K unpaid VAT, founder of a charity misappropriated £420k
HMRC plans to start testing the Making Tax Digital reporting system from April with an initial cohort of 100 or so testers in place for the pilot, with ambitious plans to expand the number of testers to the thousands by the autumn, reports Sara White
The Charity Commission has opened a statutory inquiry into the Suyuti Institute over concerns that the trustees may have failed to address the financial risks involved in taking over a private trust
The Scottish government’s formal confirmation that all income tax rates will be frozen next year, with the higher rate threshold unchanged at £43,000, means over 300,000 Scottish top rate taxpayers will pay more than their counterparts south of the border
In this week’s moves and appointments roundup, Bibby promotes a managing director to increase focus on export, UHY Hacker young gains a partner, two partners join RSM’s East Anglian team
Despite HMRC launching an eight-month public consultation on its flagship Making Tax Digital proposals requiring a switch to digital financial records and quarterly online updating, a fifth of micro business owners have no knowledge of the plans, according to a survey by online accounting provider FreeAgent
A Staffordshire businessman who hid his true earnings to evade £83,000 in tax, and faked official documents to obtain a mortgage, has been given a suspended jail sentence after an HMRC investigation
The government’s approach to handling public sector data breaches is ‘inconsistent and dysfunctional’ and it should do more to consolidate an ‘alphabet soup’ of agencies involved in the fight against cybercrime, according to a report from the public accounts committee (PAC)
Nearly half (48%) of people working in professional services have ditched their diets at least once this year after being led astray by chocolate and sweet treats in the workplace, according to statistics released by the British Heart Foundation (BHF)
The Federation of Small Businesses (FSB) and the Chartered Institute of Credit Management (CICM) have joined forces to provide a guide on cash flow and credit management to help businesses navigate the Brexit period
In part 17 of this exclusive New UK GAAP series, Helen Lloyd FCA considers the accounting rules on the complicated issue of revenue reporting, focusing on key requirements set out in FRS 102 section 23 Revenue
The introduction of the revised Professional Conduct in relation to Taxation, produced by the leading professional institutes and approved by the Treasury, sets out tough rules on the limits for tax advisers and accountants when providing tax planning advice and professional judgment. Bill Dodwell, head of tax policy at Deloitte, considers the key issues
Yvette Nunn CTA is heartened MPs in the Treasury Committee have added their voice to the profession's concerns around Making Tax Digital and its ambitious timetable for its introduction
The Financial Reporting Council (FRC) is to consult on strengthening its sanctions and changes to the corporate governance code over the course of 2017, the regulator confirmed at its annual priorities meeting reports Calum Fuller
The Charity Commission has removed the charity Urban Relief from its register, after opening an inquiry following the conviction of one of its trustees for a number of offences, including managing a brothel, concealing criminal property and using the charity’s bank account to launder funds from the proceeds of crime
The Competition and Markets Authority (CMA) has published its proposed reforms for the retail banking industry to give individuals and SMEs more control over their money by opening the business banking market to larger competition and introducing greater transparency through open banking
The government has today published its plan for leaving the European Union in the form of a White Paper, after MPs backed the European Union Bill by 498 votes to 114 on 1 February
This month's CCH Daily module focuses on year end tax planning for companies, with information on treatment of income and expenditure, profit extraction, losses and capital allowances and capital gains and groups
The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have announced a number of changes to the way in which they make decisions about enforcement actions, in a bid to make the process more transparent and effective, following criticism of the regulators’ actions in the wake of the collapse of HBOS
The Financial Reporting Council (FRC) has published a revised practice note 20 (PN20), which brings together guidance for practitioners auditing insurance entities in the UK
A significant proportion of corporate governance practitioners are unsure whether the UK’s system of corporate governance is fit for purpose according to research from ICSA: The Governance Institute and recruitment specialist Core Partnership
The Association of Accounting Technicians (AAT) and ACCA are leading calls for a rethink on government policy on apprenticeships, after a poll of MPs found almost half (46%) believe the target of three million apprenticeships set up over the course of parliament ignores the importance of both quality and completion rate and should be modified
The OECD has released key documents which will form the basis of the peer reviews for two of the minimum standards from its base erosion and profit shifting (BEPS) action plan, relating to country-by-country reporting (CBCR) and the compulsory spontaneous exchange of information on tax rulings