Business &amp; Accountancy Daily

Called to Account

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Finance | Woolf: no limits on liability in audit

The Financial Reporting Council (FRC) can introduce endless sanctions, but without true unlimited liability nothing will stop audit failures, says Emile Woolf FCA

30 May 2018

Auditing

Corporate Governance

29 May 2018

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Finance | Accounting for cryptocurrency: what you need to know

The absence of accounting guidance for cryptocurrencies is causing some concern for reporters as various standards boards review the accounting treatments, but the global standard setter remains on the sidelines. Sarah Perrin ACA asks leading accounting experts about how they deal with crypto accounting

29 May 2018

Tax | Hall: payrolling benefits are fraught with NIC risks

Jackie Hall, employment tax partner at RSM, explains how payrolling benefits comes with many National Insurance contribution (NIC) risks despite the advantage that the tax is collected in real time so employers avoid any underpayments at year end

29 May 2018

Tax | Number of higher rate taxpayers grows 29% since 2010

The number of higher rate taxpayers in the UK has grown by almost a third, from 3.02m in 2010 to 4.28m for the 2018-19 tax year, according to recent statistics from HMRC, which also show that the number of additional rate taxpayers has grown 39% since the band was introduced in 2010

29 May 2018

Tax

Personal Tax

HMRC

Finance | Pension transfers to SIPPs at risk

MPs are urging the Financial Conduct Authority to step up its oversight of the transfer of funds from defined benefit pension schemes to self invested personal pension (SIPPs) to stop abuse of the system following pension freedoms

29 May 2018

Pensions

Careers

Leadership & Management

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Finance | IAASB seeks stakeholder views on its future strategy

The International Auditing and Assurance Standards Board (IAASB) has released a survey to seek views from its stakeholders on emerging developments and trends that are likely to be important to its 2020-2023 strategy

29 May 2018

Auditing

Corporate Governance

Accounting Consultations

Image for couple disqualified after taking assets insolvent company

Business | Couple disqualified after taking assets from insolvent company

A married couple who were directors of an independent financial advice company have been disqualified from acting as company directors for a total of 10 years after an Insolvency Service investigation found that the couple were taking assets from an insolvent company

29 May 2018

Called to Account

Tax | British businesses suspected of underpaying £16.4bn in tax

HMRC is increasingly moving the focus of its investigations for underpaid tax away from foreign companies and is instead looking more closely at British companies, with HMRC targeting overseas businesses for 34% of all suspected underpaid tax compared to 66% from UK companies, according to Pinsent Masons

29 May 2018

25 May 2018

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Business | Top tips: making the move from financial controller to financial director

Karen Young, director at Hays Senior Finance outlines what individuals need to do before making the leap from financial controller (FC) to financial director (FD), stressing the importance of getting involved in strategic projects and broadening technical knowledge

25 May 2018

Leadership & Management

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Business | Manchester United tops European football value table

Manchester United has once more beaten Real Madrid and Barcelona to be crowned most valuable European football club, with year-on-year growth of 5% and the only club to top the €3m mark, according to research by KPMG

25 May 2018

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HR | People in the news: Moore Stephens, Grant Thornton, Nexia

This week's news of professional moves in the sector includes three partner appointments in Moore Stephen’s not-for-profit team, Grant Thornton expands its public sector offering with the appointment of a social care advisory team, Nexia appoints a regional executive director

25 May 2018

Careers

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Business | Father and son jailed over £1m VAT fraud

A father and son duo have been jailed for seven years and 11 months for stealing £1m in VAT after being caught in Spain and extradited to the UK

25 May 2018

Called to Account

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Business | Wilkins Kennedy merges with M R Salvage

Wilkins Kennedy is to merge with M R Salvage Ltd, creating a combined firm with over 700 staff and partners with an expected turnover in excess of £55m

25 May 2018

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Business | Warnings over GDPR compliance and penalty regime

The General Data Protection Regulation (GDPR) comes into effect from today, 25 May, introducing the biggest changes to the processing of personal data for 20 years, with warnings that low levels of compliance in some areas could see some companies paying large fines

25 May 2018

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Tax | OECD’s first peer reviews of country by country reporting initiatives

The OECD has released the first peer reviews of the operation of the country by country reporting (CBCR) measures resulting from its base erosion and profit shifting (BEPS) project, which show that practically all countries that serve as headquarters to the large multinationals covered by the initiative have introduced new reporting obligations compliant with transparency requirements

25 May 2018

Business | IRIS acquires Taxfiler to build up SME offering

IRIS Software Group has acquired Taxfiler, the cloud tax and accounts provider for small accountancy practices, and says it plans to integrate the acquisition with others of its products for this market to create a digital compliance solution tailored to smaller practices

25 May 2018