Troubled Japanese electronics company Toshiba is believed to be seeking to replace its auditor after current incumbent Japan based PwC Arata said it was unwilling to sign off on the company’s accounts over issues related to its US nuclear reactor subsidiary Westinghouse Electric, which is filing for bankruptcy

Bill Dodwell, head of tax policy at Deloitte, is critical of HMRC's failure to address a computation problem on self assessment, which has resulted in miscaluations of tax liability and hints that many taxpayers will end up paying the wrong tax and may even have to revert to filing paper tax returns

HMRC has updated the HS288 partnerships and capital gains tax summary notes to reflect 2017/18 tax rates and clarify reporting requirements for carried interest and gains affected by entrepreneurs’ relief

LibDem MP Greg Mulholland has tabled an early day motion calling for HMRC to review the tax treatment of those using avoidance schemes which have been challenged, although the proposal is highly unlikely to get a hearing before Parliament is dissolved

Fewer Scottish companies are failing, while personal insolvency numbers in Scotland are currently the second lowest in a decade, according to the latest figures from the Accountant in Bankruptcy (AiB)

The IFRS Foundation has released a video on IFRS 9 Financial Instruments explaining the accounting treatment for the new impairment model and providing advice on implementation, now available on YouTube

Changes to the rules on inheritance tax charges on residential property for non UK domiciles have been dropped from the rushed Finance Bill, creating uncertainty for high net value individuals, warns Mercer & Hole 

MPs have criticised the way in which the government prepares departmental annual reports and accounts, saying earlier reforms do not go far enough, with the result that accounts appear to be currently failing in their purpose of explaining to the public and Parliament the effectiveness of government spending due to them being badly written and difficult to follow

President Trump’s administration has revealed plans for what it is calling ‘one of the biggest tax cuts in history’, which include slashing corporation tax to 15%, but has given few details of how the new regime would work or the timeline for its introduction