Business &amp; Accountancy Daily

Image for dodwell private sector ir35 rules only create suspicion

Tax | Dodwell: private sector IR35 rules only create suspicion

Bill Dodwell LLB CTA, senior policy adviser at the Office of Tax Simplification (OTS), discusses attempts to reform private sector IR35 rules and what needs to be changed so that employees are identified seperately to the self-employed

25 Sep 2018

Business | Business rates appeal system under fire

Businesses are struggling with the newly introduced ‘check challenge appeal’ (CCA) system for business rates, with the majority reporting dissatisfaction with the ‘cumbersome’ processes for checking and challenging ratings valuations, according to analysis by Colliers International

25 Sep 2018

Image for hmrc clarification corporate interest restriction rules

Tax | HMRC clarification on corporate interest restriction rules

HMRC has updated its guidance on the rules around corporate interest restriction (CIR) on deductions for corporation tax with just a week before the reporting deadline for March end figures, to clarify how to work out a company’s or group’s interest allowance

25 Sep 2018

Business | Unexplained disposal of £500k sees waste company boss banned

A former waste disposal boss has been disqualified for seven years after failing to deliver company records that may have explained £500,000 worth of suspicious bank transfers and cash withdrawals

25 Sep 2018

Called to Account

Image for only one 10 top us lead auditors are women

| Only one in 10 top US lead auditors are women

There is a marked gender imbalance amongst audit teams working with the very largest companies in the US, after research from the CFA Institute found just 11% of the lead partners on Standard & Poor’s (S&P) 100 audits are women

25 Sep 2018

Leadership & Management

Image for thomas westcott expands south west presence

Business | Thomas Westcott expands south west presence

Reddaway and Co has merged with the Tiverton office of top 50 accountancy firm Thomas Westcott in a bid to expand its presence in the south west

25 Sep 2018

Image for pwc builds strategic alliance immigration services

Business | PwC builds strategic alliance for immigration services

PwC UK has signed a strategic alliance with Fragomen, Del Rey, Bernsen and Loewy (Fragomen) to enable collaboration and joint marketing efforts to support their immigration services for highly mobile employees

25 Sep 2018

24 Sep 2018

Image for countdown deadline requirement correct tax rules

Tax | Countdown to deadline for requirement to correct tax rules

Justin Stevenson, associate director at RSM, discusses the requirement to correct (RTC) rules and how they will affect taxpayers with assets overseas, such as bank or investment accounts, or holiday homes that have been rented, as well as those overseas with a liability to UK tax, need to take note of 30 September deadline

24 Sep 2018

Business | Economic trends: wages, unemployment and monetary policy

The short-term gains in wage growth may be limited by weak productivity and a low unemployment rate, suggests George Buckley, chief UK economist at Nomura

24 Sep 2018

Image for hmrc contractor wins ir35 payout

Tax | HMRC contractor wins IR35 payout

A contractor who worked for HMRC has successfully claimed over £4,000 at an employment tribunal after the tax authority insisted she was not self-employed under IR35 rules but failed to make arrangements for holiday pay

24 Sep 2018

Tax | Labour's McDonnell sets out plans for 'inclusive ownership fund'

In a speech at the Labour party conference in Liverpool, the shadow chancellor made the case for legislation that would give workers more of a stake in business, and discussed the wider application of the Fair Tax Mark

24 Sep 2018

Tax

Politics

| Workiva white paper: financial and management reporting process improvement

Demands from executives and regulators are steadily increasing, consuming more and more of your time. How can you produce reports more frequently, with the deeper analysis your stakeholders are looking for while reducing manual efforts? Download Workiva's white paper on how to improve your financial reporting process here

24 Sep 2018

Image for ps500k funding pot address gender pay gap

Business | £500K funding pot to address gender pay gap

Five organisations in England have been awarded £489,050 from a government start-up fund to help people who have taken lengthy career breaks to care for others get back into work, as part of initiatives to tackle the gender pay gap

24 Sep 2018

Tax | Record £15.6m minimum wage underpayments

HMRC identified a record £15.6m of underpayments for workers on the minimum wage this year, which saw some 600 employers fined £14m not meeting legal obligations

24 Sep 2018

Tax | HMRC’s take from criminal tax investigations up 31%

HMRC hauled in almost a third more from each criminal investigation it launched last year, with the average tax take rising from £1.9m in 2016/17 to £2.5m, according to analysis by UHY Hacker Young

24 Sep 2018

Tax | EC wants action on €150bn VAT losses

European Commission analysis shows EU countries lost almost €150bn (£134bn) in VAT revenues in 2016, with the UK and Ireland among a minority of six member states to report an increase in the ‘VAT gap’ between expected revenue and the amount actually collected

24 Sep 2018

Tax | One week to register for 2017-18 self assessment, warns HMRC

Anyone whose tax circumstances have changed in the past year and now earns more than £2,500 from rented property, owns shares or is hit by the higher income child benefit charge needs to register for self assessment to avoid automatic penalties

24 Sep 2018

Business | Boss’s ban extended for running new company

An engineering boss from Aberdeen who was already serving a ban has had his disqualification increased by the court after he was found running a new company and continuing to fail to make payments due to HMRC

24 Sep 2018

21 Sep 2018

Image for venus artificial intelligence boardroom

Finance | Venus: artificial intelligence in the boardroom

The gathering pace of technology means that machine learning and blockchain will soon make their presence felt at the top level of business, but there will still be a need for someone to hold the reins, argues David Venus FCIS

21 Sep 2018

Business | Danish bank chief quits over €200bn money laundering

The chief executive of Denmark’s biggest bank has resigned after an internal investigation revealed most of some €200bn (£178bn) of payments moved through its Estonian branch was down to money laundering of cash from Russia, the UK and the British Virgin Islands

21 Sep 2018

Business | Treasury investigates barriers for women in business

The Treasury has launched a review into barriers for women in business after research found that they are half as likely as men to be involved in starting a business, and only a third of entrepreneurs are female

21 Sep 2018

Business | Millennial employees prepared to delegate to robots

Research involving 1,200 finance employees in the UK found millennials plan to use robots to avoid human interaction at work, while older workers only intend to use them to tackle tasks such as online filing

21 Sep 2018

Tax | HMRC promotes online work-related expenses claims

HMRC is urging millions of employees such as nurses, hairdressers and construction workers to go online and directly check if they can claim extra cash back for work-related expenses, amid concerns they could be missing out on their full tax relief entitlement by using agencies instead

21 Sep 2018

Business | VAT fraud haulier delivered to jail

A husband and wife team from County Tyrone who ran a haulage company have been given jail sentences for a £194,000 VAT fraud following an HMRC investigation

21 Sep 2018

Called to Account

Image for telecoms company tops tax defaulter list owing ps27m

Tax | Telecoms company tops tax defaulter list owing £2.7m

HMRC’s latest list of major tax defaulters is topped by a telecommunications company owing £2.7m on £4.3m unpaid tax, followed closely by an online trader owing £2.6m, with a raft of restaurants and takeaways, as well as an accountancy service and financial instruments provider, also featuring

21 Sep 2018

Finance | Call for internal audit and finance team collaboration

The Chartered Institute of Internal Auditors (IIA) and International Federation of Accountants (IFAC) have collaborated on a research study which aims to encourage closer working between the internal audit function and finance function in order to ensure effective governance

21 Sep 2018

Auditing

Corporate Governance

Image for motherhood penalty creates financial services gender gap

Business | 'Motherhood penalty’ creates financial services gender gap

Motherhood is a key driver behind the lack of women in top roles in financial services, according to research commissioned by the Association of British Insurers (ABI), which says more evidence of ‘what works’ is needed to tackle the disparity

21 Sep 2018

Leadership & Management

Image for people news armstrong watson mha carpenter box

HR | People in the news: Armstrong Watson, MHA Carpenter Box

This week's news of professional moves in the sector includes a head of tax at Armstrong Watson, 11 trainees join MHA Carpenter Box’s audit and business services teams, restructuring firm CVR Global appoints an associate director

21 Sep 2018