Business &amp; Accountancy Daily

Personal Tax

International Tax

Image for finance mole exaggerated tales cycling prowess push team edge

Business | Finance Mole: exaggerated tales of cycling prowess push team off the edge

Finance Mole is put in his place as he bores everyone with a PowerPoint overload after a weekend of cycling hyperactivity and the team unexpectedly finds cost analysis work takes precedence

2 Jun 2017

Tax | Conservative Craig MacKinlay charged over 2015 election expenses

An ICAEW member and Conservative candidate for South Thanet has been charged for alleged overspending in his 2015 election campaign

2 Jun 2017

Politics

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Tax | IT problem with HMRC's free corporation tax returns service

Despite efforts to move all tax transactions online, HMRC continues to experience IT problems, with the free corporation tax online return service failing to display the final submission status during filing, meaning that company filers will have to double check submissions

2 Jun 2017

Tax | MEPs vote to reduce VAT on ebooks to match printed rates

The European parliament has voted in favour of allowing member states to reduce the chargeable rate of VAT on ebooks to match printed book rates

2 Jun 2017

VAT

Tax Planning

Image for irish revenue rejects post brexit customs posts

Tax | Irish Revenue rejects post-Brexit customs posts

The chair of Ireland's Revenue Commissioners has said he is almost ‘100% certain’ that there will be no additional customs posts placed along the border with Northern Ireland post-Brexit

2 Jun 2017

| People in the news: Bishop Fleming, Clemence Hoar Cummings

This week's news of professional moves in the sector includes a director at Bishop Fleming promoted to partner, Clemence Hoar Cummings appoints two semi-senior accountants, four IFRS Foundation trustees are reappointed

2 Jun 2017

Careers

Image for bahamas set sign oecd taxpayer data sharing convention

Tax | Bahamas set to sign OECD taxpayer data sharing convention

The Bahamas is planning to sign the OECD treaty agreement to share information on taxpayer details to curb tax evasion, which would give tax authorities more tax transparency over the offshore financial centre

2 Jun 2017

Business | Called to account: June 2017

The latest scandals and penalties including, ex-Olympus executives to pay £410m damages over accounting scandal, VAT fraudster ordered to repay £2.2m or stay in jail, and jail sentence for property developer in £640k fraud

2 Jun 2017

Called to Account

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Business | Accountants waste 16 days travelling to work

The majority of accountants (89%) are losing up to 16 days each year commuting to and from work with over a third (42%) travelling up to two hours each day, according to research from CV-Library

2 Jun 2017

| Job vacancies hit highest level since 2015

The high number of vacancies and low competition for jobs has resulted in the number of vacancies across the UK being at its highest level since November 2015, which is up 2% year-on-year, with 89,600 of the current 1.2 million vacancies coming from the accounting sector

2 Jun 2017

Careers

Image for price bailey merges sandcroft accounting firm

Business | Price Bailey merges with Sandcroft accounting firm

Price Bailey has confirmed the acquisition of Cambridge-based accountancy firm Sandcroft

2 Jun 2017

1 Jun 2017

Image for ftse 250 auditors survey 2017 sting tail audit fees rise

Finance | FTSE 250 Auditors Survey 2017: sting in the tail as audit fees rise

Even with record volumes of audit contracts changing hands among the FTSE 250, a significant number of companies are still choosing to stick with their current auditors. But is there a sting in the fee tail as the scale of tendering and transition costs become apparent? In the annual Accountancy FTSE 250 auditors survey, Philip Smith examines the latest trends in audit fees and the lack of competition from outside the Big Four

1 Jun 2017

Business | Charities must invest in infrastructure, say ICAEW auditors

Auditors are calling on charities to put greater investment in their own infrastructure, leadership and processes in order to maximise their impact on their beneficiaries

1 Jun 2017

Charities

Image for auditors hiking fees second year finds accountancy research

| Auditors hiking fees in second year, finds Accountancy research

Despite little movement in audit fees between the last year of the outgoing auditor and the first year of an incoming auditor, firms are hiking their fees in the second year of engagement, research conducted by Accountancy shows

1 Jun 2017

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Finance | Editor’s comment: auditors feeling the heat

In reflect of this month’s exclusive FTSE 250 auditor’s survey, Sara White considers audit failures on the back of the record £5m fine given to PwC by FRC and ask whether the audit regulator is effective enough

1 Jun 2017

Corporate Governance

Audit Regulations

Image for nhs watchdog revises ir35 guidance payroll medics

Tax | NHS watchdog revises IR35 guidance for off-payroll medics

The regulator for NHS trusts and foundation trusts has revised its guidance on the application of IR35 tax rule changes for NHS agency staff, including doctors and nurses, stating that each case should be treated on an individual basis

1 Jun 2017

Tax | EU Council adopts hybrid mismatches directive

The European Council has adopted an anti-avoidance directive to prevent corporate groups exploiting hybrid mismatches between EU tax systems and those of non-EU countries, coming into force from 1 January 2020

1 Jun 2017

Business | CVR Global expands insolvency services with merger

National insolvency and restructuring firm CVR Global is expanding its UK presence by merging with London based DDJ Insolvency, with the firm gaining two partners

1 Jun 2017

Companies

Restructuring & Insolvency

Image for tax data cgt data hmrc rates interest june 2017

Tax | Tax data: CGT data, HMRC rates of interest - June 2017

Download the HMRC CGT indexation allowance for February 2017, RPI Index for April 2017 and HMRC rates of interest, changes to stamp duty land tax (SDLT) and land and buildings transaction tax (LBTT) rates, and more

1 Jun 2017

HMRC

Tax Planning

Tax | Tax updates: June 2017

This month's review of tax cases and tax news including Mauritian trust management UK based, Icebreaker members’ appeal dismissed, appeal against penalties denied and, Making Tax Digital dropped from Finance Bill 2017

1 Jun 2017

Tax | Employment tax updates: June 2017

The latest employment tax news including, Jackie Hall ACA CTA, partner at RSM, unpicks the latest stamp duty land tax (SDLT) take on residential property, real time PAYE coding, and off payroll working in the public sector

1 Jun 2017

Finance | Accounting updates: June 2017

In this month’s roundup of developments in accounting and financial reporting, Mitie faces £50m accounting writedown, Companies House cuts, director loan changes adopted for small businesses, IFRS 17 Insurance contracts released

1 Jun 2017

Business | Development updates: June 2017

In the latest career development updates, Public Accounts Committee slates HMRC office restructure, long-term sickness absence and unfair dismissal issues, and minimum wage implications for sleeping duties

1 Jun 2017

Companies

Finance | Audit updates: June 2017

In our monthly roundup of developments in audit and governance, PwC hit with record £5m Connaught fine, Grant Thornton fined £2.2m for AssetCo audit, Deutsche Bank governance issues and, FRC to probe KPMG audits of Rolls-Royce

1 Jun 2017

Corporate Governance

Tax | VAT updates: June 2017

The latest VAT rulings with implications for businesses include whether charges made by a body to parties other than students can be exempt from VAT as essential to education in the Brockenhurst case, cost sharing exemption

1 Jun 2017

Finance | Legal updates: June 2017

In this month's legal updates, experts at law firm Gateley plc consider Court of Appeal ruling on information versus advice and MPs call for full corporate governance overhaul

1 Jun 2017

Finance

Law and Regulation

Tax | Consultations: Jun-Jul 2017

A roundup of current consultations from HMRC, including Making Tax digital penalties, VAT fraud, CGT change for non-resident companies, taxation of employee expenses

1 Jun 2017

Tax | Tax filing deadlines: Jun-Dec 2017

The key HMRC filing deadlines from Jun to December 2017 including deadline for expenses and benefit forms P11D(b), P9D and P11D, online CIS returns, PAYE settlement agreement

1 Jun 2017

31 May 2017

Image for field stealth taxes will mark post election tax landscape

Tax | Field: stealth taxes will mark post-election tax landscape

Crowe Clark Whitehill tax partner Laurence Field examines how tax policy will develop after the general election on 8 June, with all parties set to seek extra revenues, despite varied claims about reducing the tax burden for business in the case of the Conservatives and a return to pre-2010 corporation tax rates from Labour

31 May 2017

Business | Due diligence in a right to be forgotten age

EU rules allowing individuals to request removal of negative information and articles on search engines raises serious due diligence concerns for businesses and accountants, warns Shanti Salas, vice president in strategy and diligence at Exiger

31 May 2017

Tax | EU chief Juncker denies involvement in Luxembourg tax deals

EU chief Jean-Claude Juncker was forced to defend his position over Luxembourg sweetheart tax deals with multinationals, denying any involvement in the arrangements during his time in government, at a European parliament PANA committee hearing into tax evasion

31 May 2017

Finance | Aspects of Connaught ‘unauditable’, FRC case report finds

Elements of the information available to PwC over the course of its term as Connaught’s auditor were ‘unauditable’, according to FRC’s report on the case

31 May 2017