Business &amp; Accountancy Daily

Restructuring & Insolvency

Image for dodwell tax reporting should not disadvantage uk groups

Tax | Dodwell: tax reporting should not disadvantage UK groups

Bill Dodwell, partner and head of tax policy at Deloitte, discusses country-by-country reporting and tax disclosure, following the release of the Paradise Papers, arguing that the requirements of reports may give an unfair view of multinationals overall tax contribution

29 Nov 2017

Business | Brexit uncertainties dent UK growth predictions

Brexit uncertainty means the UK’s growth outlook is significantly below the global average over the next two years, according to research from the OECD

29 Nov 2017

Image for taylorcocks merges surrey firm

Business | Taylorcocks merges with Surrey firm

Two Surrey firms have combined, with top 75 firm Taylorcocks, based in Farnham, merging with Daymar, which is based in Guildford and was looking to expand its taxation services

29 Nov 2017

Image for charity commission needs seek sustainable funding warns nao

Finance | Charity Commission needs to seek sustainable funding, warns NAO

The National Audit Office (NAO) says the Charity Commission has improved its performance significantly since 2013, when it was found not to be an effective regulator, but still needs to do more to plan for ‘an uncertain and dynamic’ future, particularly in regards to its funding

29 Nov 2017

Charities

Image for film maker jailed ps500k vat fraud

Business | Film-maker jailed for £500K VAT fraud

A film-maker who claimed over £500,000 in fraudulent VAT repayments and spent the money on gambling and lavish holidays has been jailed for 32 months

29 Nov 2017

Called to Account

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Tax | Finance directors failing to comply with SAO rules

HMRC issued over 100 penalties to corporate senior accounting officers (SAOs) last year, continuing a trend of a 150% rise in the last five years and underscoring the need to ensure tax compliance arrangements are properly monitored, according to analysis by Pinsent Masons

29 Nov 2017

28 Nov 2017

Image for international reporting wider disclosures under ifrs 17 insurance contracts

Finance | International reporting: wider disclosures under IFRS 17 Insurance Contracts

Jeroen Van Doorsselaere, vice president of risk and finance at Wolters Kluwer, gets to grips with the recognition and decognition accounting treatment under the incoming standard IFRS 17 Insurance Contracts

28 Nov 2017

Business | Charity Commission guidance on charity conversion to CIO status issued

The Charity Commission has announced a phased timetable for charitable companies to convert to charitable incorporated organisations (CIOs) starting with first registrations in January 2018

28 Nov 2017

Finance | Woolf: testing time for FRC

Amid some strong criticism of the handling of the KPMG HBOS audit probe, Emile Woolf FCA questions the Financial Reporting Council's (FRC) independence

28 Nov 2017

Auditing

Corporate Governance

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Tax | 90% of Britons view tax avoidance as ‘morally wrong’

Nine out of ten British adults say tax avoidance by large companies is morally wrong even if it is legal, while three-quarters want the UK government to legislate to discourage UK companies from avoiding tax in developing countries, according to a survey on behalf of Christian Aid

28 Nov 2017

Tax

Business Tax

Tax Compliance

Image for nao warns hmrc about scottish taxpayer address records

Tax | NAO warns HMRC about Scottish taxpayer address records

Maintaining address records of the 2.6m Scottish taxpayers remains the biggest risk facing HMRC in ensuring that Scottish income tax is collected properly and compliance efforts will need to be stepped up if the thresholds and rates between Scotland and the rest of the UK diverge in future

28 Nov 2017

Tax | Italy plans ‘web tax’ action

Italy has revealed plans to introduce a ‘web tax’, which is expected to bring in €114m annually via a 6% levy on digital sales made by technology companies to consumers based in the country

28 Nov 2017

Business | 11-year ban for Essex director over records failure

A company director who failed to keep proper records has been disqualified for 11 years following an Insolvency Service investigation which found he had made a wrongful claim for a £285,000 VAT repayment, while it was not possible to establish whether the company’s stock and trading were legitimate

28 Nov 2017

Restructuring & Insolvency

Called to Account

Image for oecd finds income tax receipts outpacing corporate tax

Tax | OECD finds income tax receipts outpacing corporate tax

Personal income taxes are playing an increasingly significant role in the tax mix of countries around the world as revenues from social security contributions and consumption taxes fall, and corporate tax collections remain low, according to an OECD report

28 Nov 2017

27 Nov 2017

Image for budget 2017 key changes company and private car taxation

Tax | Budget 2017: key changes to company and private car taxation

MHA MacIntyre Hudson tax director Nigel Morris provides a detailed round up of the tax changes for cars, vans, fuels and electric vehicles following the Budget, including for diesel cars and driverless technology

27 Nov 2017

Business | Top tips on LLP restrictive covenants: drafting and disputes

Partners in accountancy firms structured as limited liability partnerships (LLPs) frequently seek to bind one another with restrictive covenants to protect the business if a partner leaves. Clare Murray, managing partner and Zeinab Harb, trainee solicitor at employment law firm CM Murray LLP ask whether these legal agreements are always worth the paper they are written on

27 Nov 2017

Law & Guidance

Image for khurana employment tax reform may hold key productivity woes

Tax | Khurana: employment tax reform may hold key to productivity woes

Following the Budget, Mazars head of employment tax Vaneeta Khurana outlines the impact reform to employment taxes could have on the UK’s productivity problem

27 Nov 2017

Tax | Nunn: avoidance talk now acceptable in polite circles

Yvette Nunn CTA ATT, director of Berkeley Associates on how individuals are avoiding paying stamp duty land tax (SDLT) by simply staying put, with avoidance talk becoming more acceptable in social situations

27 Nov 2017

Business | Gender pay gap in London has dropped by only 0.5% since 1997

The pay gap between men and women working in London has seen little change since 1997 with women in London earning 14.6% less per hour than men in 2017, despite legislation being introduced to improve this, according to the Office for National Statistics (ONS)

27 Nov 2017

Business | BEIS launches ambitious UK industrial strategy

The Department for Business, Energy and Industrial Strategy (BEIS) has announced a new industrial strategy, which includes an additional £725m investment in a challenge fund to encourage innovation, and a series of announcements about infrastructure, skills and business environment developments

27 Nov 2017

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Tax | Financial services sector pays 11% of total tax take

The UK financial services sector paid a record £34.8bn in tax contributions in the last financial year, the highest amount of tax the sector has paid in the 10 years the data has been collected for the City of London Corporation

27 Nov 2017

Business | Quantuma casts future for failing steel supplier

Graham Randall, partner, and Mark Roach, director, at restructuring specialist Quantuma have found a buyer for Avon Steel Company Ltd, a south west-based operation that had run into cashflow difficulties, saving 49 jobs

27 Nov 2017

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Business | Commission to review financial controls at religious charity

The Charity Commission has opened a statutory inquiry into ‘Into the Light Ministries’, over concerns about financial controls and accounting at the religious charity

27 Nov 2017