As the government seeks to curb online VAT fraud after additional measures were announced in the Budget, Nicholas Hallam considers what impact the policy might have
In the last weeks of the year, any companies reporting under IFRS but not operating in the financial services sector per se, need to consider the implications of IFRS 9 Financial Instruments. Steve Hubbard, director, DPP accounting & reporting at KPMG LLP examines some of the critical issues to consider
Chancellor Philip Hammond and four other European finance ministers have sent a warning to the US administration over its planned overhaul of the US tax system, saying the reforms risk breaching the country's double taxation treaties and could be at odds with World Trade Organisation (WTO) rules
A taxpayer's appeal against the issuing of late filing penalties by HMRC, after she failed to file a non-resident Capital Gain Tax (CGT) return on time, was allowed by a First Tier Tribunal (FTT) after it found that there was a reasonable excuse
Trust in business behaviour has nudged upwards slightly over the past year, but tax avoidance and executive pay remain the top issues business needs to address, according to the annual survey conducted for the Institute of Business Ethics (IBE)
Scrap dealer Premier Metals (Leeds) Ltd tops this quarter’s list of deliberate defaulters published by HMRC, paying a £4.7m fine for failure to pay £9.6m of tax owed for the period April to September 2013
There is to be a new national economic crime centre to tackle high level fraud and money laundering as part of a package of government measures to ramp up its approach to tackling fraud, bribery, corruption and money laundering
Auditors need to be more specific with audit committees and in their public reports about the materiality judgments they have made and the impact on the scope, nature and extent of their audit work, according to the Financial Reporting Council’s (FRC) latest thematic review
The Financial Reporting Council’s (FRC’s) financial reporting lab is seeking investors, analysts and listed and quoted companies of all sizes to participate in a project on the use and disclosure of performance metrics
HMRC has published guidance underlining the ruling that statutory interest in case of refunds for overpaid VAT is all that is required, not compound interest, following the Supreme Court judgment in the case brought by Littlewoods Retail Ltd
The downgrade to the growth forecast will hit productivity and keep average earnings at pre-2008 levels, worse than could have been predicted even back in 2010, warns Thomas Pope, research economist at the Institute for Fiscal Studies
Tax arrangements using distributions and benefits through trust interests to extract cash tax free are ‘not a reasonable course of action’, according to the GAAR Advisory Panel
The majority of small businesses and landlords anticipate consulting an accountant for support in meeting the requirements of digital reporting under Making Tax Digital with nearly half of taxpayers (40%) calling for extra guidance, HMRC research has shown
A taxpayer's appeal has been dismissed by a First Tier Tribunal (FTT) after it found that a information notice issued by HMRC, after conducting a check on the taxpayer's tax affairs, was 'reasonably required'
Six individuals, including a former HMRC employee and two unqualified accountants, have been jailed for more than 24 years after stealing £2.4m in VAT payments, following a three-year investigation
With staff Christmas parties in full swing, companies need to ensure they keep the taxman happy as well as employees, by staying within the rules for festive events and gifts, particularly where offices and staff are spread around several locations
HMRC has published guidance for credit reference agencies wanting to apply for VAT registration data for use in making financial assessments, as part of a move to improve access to credit and finance for small businesses and startups
HMRC is consulting on proposals to introduce ‘conditionality’ measures to tackle the hidden economy, which would make compliance with certain tax obligations a condition of holding some licences, and introduce checks on applicants’ tax-registration status as part of licensing processes
The work and pensions committee is calling for government action to ban pension cold calls and make people either take or expressly opt out of guidance before they can access their pension pot, saying pension freedoms have increased the risk of scams because savers are not taking advise from professional advisers
In this month's roundup of cases and disqualifications, HMRC smashes £108m fake eco-investment scam, a director fakes his death to avoid 14-year disqualification and a fake spy gets caught up in a £1.6m VAT fraud
This week CCH Daily has a chat with Iona Stretton, senior manager in EY’s tax practice, on the challenges she faces when getting individuals to understand the implications of new technologies and her fear of seeing age old, thriving businesses collapse due to them not staying up to date with technological changes
SMEs in the UK experience more problems with late payments than their counterparts in other countries, with 18% of all invoices paid late, and 9% written off as bad debt, according to a global survey by software provider Sage
As his last day approaches, the de-mob Finance Mole is offered feedback by his CEO, much to his chagrin plus trouble in paradise surrounding tax planning, tax-free childcare turns into a nightmare for HMRC
Scotland’s auditor general has branded a series of governance failings and the poor use of public money at the Scottish Police Authority (SPA) as ‘unacceptable’ and says ensuring the body operates more effectively and transparently must be an immediate priority for its new leadership team
Following 24 hours of negotiations, the UK government has forged an agreement with EU officials negotiating the UK’s departure on the three key issues of the Ireland border, citizen’s rights and the financial settlement, paving the way for talks to move on to the next stage
In this week’s moves and appointments roundup, KPMG promotes 42 partners and 132 directors across its UK offices, Thomas Westcott hires a head for its corporate finance service, two corporate partners join Manchester-based Irwin Mitchell
Companies House is highlighting that new forms need to be used for insolvencies from today, as the Insolvency (Miscellaneous Amendments) Regulations 2017 came into force on 8 December 2017
‘Negligent’ or ‘unwitting’ accountants risk finding themselves involved in money laundering as accountancy services remain attractive to criminals, according to the Treasury’s second national risk assessment (NRA) of money laundering and terrorist financing activities in the UK
A record 16,000 workers, including employees of Primark and Sports Direct, are in line for a £1.7m payback as 260 employers are named and shamed for underpaying minimum wage rates