In the third of a new series on accounting for limited liability partnerships (LLPs), Iain Storey of Price Bailey explains what to consider when recognising the revenue of an LLP
Despite recent statistics showing revenue raised by inheritance tax on the increase, Nigel May CTA, senior tax partner at MHA MacIntyre Hudson, argues that the tax is too complicated from the residence nil rate band and taper relief to complexity around the seven-year gifting rules
The government's reversal on the proposed abolition of Class 2 national insurance contributions for the self-employed has been greeted with general dismay but it should be a cause for celebration, says George Bull, senior tax partner at RSM
PwC UK has reported a 5% increase in revenues for the year ended 30 June 2018, at £3.764bn, up from £3.6bn, and has reversed the trend of the last two years which saw reductions to partners’ distributable profits
Michael Nascimento, the mastermind of a £2.8m boiler room fraud which marked the largest-ever fraud prosecution brought by the Financial Conduct Authority (FCA) has been sentenced to 11 years’ imprisonment
The Financial Conduct Authority (FCA) has obtained an urgent High Court order appointing a provisional liquidator in respect of Total Debt Relief Ltd (TDR), to protect its customers’ money, and is also petitioning for the debt management company to be wound-up
The Charity Commission has found serious failings at an unregistered charity whose trustees failed to account for significant sums of charitable funds donated to it, and which has now ceased to operate
HMRC has published updated guidance for property management companies and others clarifying the VAT exemption for domestic service charges and what to do if it has been wrongly applied
The way the UK’s largest companies report on boardroom diversity needs improvement, according to research conducted for the Financial Reporting Council (FRC), which found that only 15% of FTSE 100 companies fully complied with the UK corporate governance code’s provision in this area
Rising house prices and increases in other assets have seen HMRC launch more investigations to ensure individuals are paying the correct amount of inheritance tax (IHT), with the number of tax probes up by 5% this year, according to analysis from UHY Hacker Young
Andersen Global, the international association of tax specialist firms set up by former Arthur Andersen staffers, has announced a new board of directors for Europe, including the heads of its London and Dublin representative firms
Entrepreneurs’ relief (ER) can easily be lost due to the dilutive effect of a subsequent share issue – but help is at hand, explains Peter Rayney FCA, CTA (Fellow), TEP
In a bid to kickstart the debate on the future of FTSE audit, mid-tier firm Grant Thornton is calling for the creation of an independent quango to appoint auditors for listed company audits to improve competition beyond Big Four audit firms
In this month's roundup of cases and disqualifications, £2.4m VAT fraud gang leader jailed, builder disqualified over hidden sales and VAT loss, shop owner jailed over £960k tax fraud
The First Tier Tribunal (FTT) has upheld an appeal against HMRC, ruling that it should have treated a group of professional football referees as contractors and not as employees, reports James Bunney
MPs have accused the Cabinet Office of failing to learn lessons from the collapse of Carillion, saying there remains a risk that those responsible for monitoring future government outsourcing contracts ‘could have the wool pulled over their eyes by an unscrupulous supplier’
The government has published documents setting out its position in the event of a ‘no deal’ Brexit, including information relating to mergers and acquisitions, the future role of the Competition and Markets Authority (CMA), and insolvency
The Charity Commission has accounted for some £25m of charity income as a result of its pre-inquiry and class inquiry work into ‘double defaulter’ charities in the past year
UK employees seem to take a more lenient approach than the average European employee to questionable workplace practices, according to a survey by the Institute of Business Ethics which found that 38% believe petty fiddling is inevitable in a modern organisation compared to 30% of their European counterparts
EY has launched a financial wellness hub for its staff in the UK, with the aim of helping them to manage their personal finances and improve their financial wellbeing
This week's news of professional moves in the sector includes a private markets tax partner appointment at Deloitte, RSM gains a financial services risk assurance partner in its London office, Larking Gowen appoints a head of personal tax
HMRC has written to 145,000 VAT-registered businesses across the UK, including Northern Ireland, which only trade with the EU, explaining changes to customs, excise and VAT in the event of a no deal Brexit, which would require them to complete customs declarations for the first time
Customers of leading accounting software Xero were venting their anger on Twitter yesterday after the cloud-based service suffered a 'network configuration' issue and was out of action for seven-and-a-half hours
The International Monetary Fund (IMF) has warned the government of the Republic of the Marshall Islands (RMI) to be cautious about issuing a digital currency as a second legal tender and to ‘carefully consider the macroeconomic and financial stability risks’ inherent in such a move
The House of Lords has issued a two-week call for evidence into the extension of HMRC powers as part of government plans for Making Tax Digital set out in the draft Finance Bill 2018
Private equity firm HgCapital have invested an undisclosed sum in BrightPay, the Irish accounting and payroll software provider, ahead of government PAYE reform which will see Ireland move to real time reporting
The Charity Commission has published advice on what to consider when starting a charity, including a set of guidelines and requirements, and legal restrictions on an organisation's aims and operations
The Big Four firm EY has announced record revenue figures which it claims are the result of intensive investment in emerging technologies as fee income rises by 7.4%
A pressure group for people on low incomes has warned that the government’s Help to Save scheme may penalise those who are forced to withdraw funds to pay for unexpected expenses
One of the UK’s leading accounting software providers has announced the launch of the first in a range of products that use artificial intelligence (AI)
The Financial Reporting Lab is looking for investors and companies to take part in a new project on the disclosure of climate change and workforce information