Business &amp; Accountancy Daily

Image for budget airline primera air ceases trading

Business | Budget airline Primera Air ceases trading

Thousands of holidaymakers have been stranded abroad after Danish airline Primera Air collapsed early this morning, a year after British airline Monarch entered administration

2 Oct 2018

Restructuring & Insolvency

Image for scotland rethinks introduction tourism tax

Tax | Scotland rethinks introduction of tourism tax

The Scottish government appears to be softening its stance on the introduction of a tourist tax and plans to publish a consultation on the propsals

2 Oct 2018

Tax | Treasury unveils reforms to apprenticeship levy

The government has raised the amount of the apprentice levy that larger companies can transfer to smaller firms in their supply chain from 10% to 25% in a bid to make the scheme more accessible

2 Oct 2018

Tax | 53% of accountants’ clients ready for Making Tax Digital launch

Significant numbers of accountants’ clients are still struggling to prepare for the advent of Making Tax Digital for VAT, which is now only six months away, according to the Association of Accounting Technicians (AAT)

2 Oct 2018

Business | Charity Commission calls for change in individual attitudes

The Charity Commission has called for a change in organisational culture and what is considered acceptable in terms of individual attitudes and behaviour, in the wake of recent high profile scandals within the sector

2 Oct 2018

Business | Smith & Williamson continues expansion into Ireland

Smith & Williamson in Ireland has merged with Dublin-based accountancy firm LHM Casey McGrath, in a move that will put the meged practice in the top 10 in the Republic of Ireland

2 Oct 2018

Accountancy Firms

Image for sec charges former cfo pharma company misleading investors

Business | SEC charges former CFO of pharma company for misleading investors

The CFO of a pharmaceutical company lied to investors about the amount of drugs it had supplied to wholesalers and gave a false impression about prospects for future sales, according to a US government investigation

2 Oct 2018

1 Oct 2018

Image for farming importance will avert large inheritance tax bill

Tax | Farming: importance of a will to avert large inheritance tax bill

In cases involving a farming partnership agreement, dying intestate can create complex and long-running legal and tax issues so it is essential to write a will if only to avoid acrimonious family disputes about inheritance and succession, explains Julie Butler FCA, partner at Butler & Co

1 Oct 2018

Tax | Editor’s comment: reforming the audit profession

As the clamour for audit reform and a second competition review into market concentration of auditors intensifies, Sara White, editor at Accountancy, considers some of the reform options from an auditor appointment quango to a shared open source technology platform

1 Oct 2018

Finance | Government calls for investigation into Big Four auditor dominance

The government has made its strongest call yet for a competition review of the statutory audit market following increasing concerns about the dominance of Big Four auditors, despite no decision being taken by the competition regulator

1 Oct 2018

Business | Carillion collapse drives construction businesses to the wall

The liquidation of public sector contractor Carillion triggered a ’significant' surge in insolvencies among construction businesses, according to research from Moore Stephens

1 Oct 2018

Accountancy Firms

Image for stamp duty surcharge foreign property buyers

Tax | Stamp duty surcharge for foreign property buyers

Prime minister Theresa May will use this week’s Conservative party conference to announce a new stamp duty surcharge of 1% to 3% for overseas buyers of UK property

1 Oct 2018

Finance | EU plans to tighten anti-money laundering rules

The European Commission is planning to tighten up the rules on supervision of EU financial institutions to combat money-laundering amid criticism some EU member states are failing to enforce the rules effectively

1 Oct 2018

Tax | Hammond willing to ‘go it alone’ with UK digital services tax

Chancellor of the Exchequer Philip Hammond has signalled that if the UK is unable to form international agreements over the way global internet giants such as Amazon and Google are taxed then the UK will set its own digital services tax

1 Oct 2018

Finance | FRC 2019 Taxonomies reflect latest IFRS and triennial review

The Financial Reporting Council (FRC) has amended the XBRL accounting taxonomies to reflect changes introduced in the UK GAAP triennial review and three new IFRS

1 Oct 2018

Business | Businessman sentenced for £180k tax fraud

A Leicestershire businessman, who hid sales to evade paying £180,000 in VAT and corporation tax, has received a suspended prison sentence, following an HMRC investigation

1 Oct 2018

Called to Account

Image for elon musk resigns tesla chairman following deal sec

Business | Elon Musk resigns as Tesla chairman following deal with SEC

Elon Musk, CEO of electric car manufacturer Tesla, is the subject of a US Securities and Exchange Commission (SEC) settlement that will see him stripped of his position as chair of the company and his social media activities curtailed

1 Oct 2018

Accountancy Firms

Image for buzzacott names hopson managing partner

Business | Buzzacott names Hopson as managing partner

Top 25 firm Buzzacott has confirmed Tony Hopson as its new managing partner taking over from Amanda Francis who is stepping down after two four-year terms in the role

1 Oct 2018

Image for ftse 100 companies unclear tax evasion measures

Tax | FTSE 100 companies unclear on tax evasion measures

The majority of top UK companies are not making public their risk strategies to prevent risk of tax evasion, leaving them vulnerable to criminal prosecution

1 Oct 2018

HR | OpRA: tax and salary sacrifice – CPD module

This month’s exclusive Accountancy Daily CPD module will look at the recent changes to optional remuneration arrangements (OpRA), the new benefit in kind rules effective 1 April 2018, the impact on existing and new car scheme,s and tax compliance issues for employers

1 Oct 2018

Training & CPD

Tax | VAT updates: October 2018

Graham Elliott, VAT expert at City & Cambridge Consultancy on letting of immoveable property at stake in Sibcas, HMRC updates VAT cash accounting rules

1 Oct 2018

Tax

VAT

Image for employment tax updates october 2018

Tax | Employment tax updates: October 2018

Jackie Hall ACA CTA, partner at RSM on umbrella companies under attack, revised professional subscriptions roster

1 Oct 2018

Tax

Employment Tax

Finance | Audit updates: October 2018

In our monthly roundup of developments in audit and governance, FCA hauls up auditors over client assets, FRC fines Grant Thornton £4m for independence failings, Lords press Chancellor on Big Four competition review

1 Oct 2018

Auditing

Corporate Governance

Image for accounting updates october 2018

Finance | Accounting updates: October 2018

In this month’s roundup of developments in accounting and financial reporting, plans for overhaul of dividend rules, regulators to probe charity SORP setting processes, IASB set to review rules on amortisation of goodwill

1 Oct 2018

Tax | Tax updates: October 2018

This month's review of tax cases and tax news including advisory fuel rates from 1 September 2018, capital allowance claim part allowed on £300m SSE hydroelectric scheme, HMRC biometric phone recordings under fire

1 Oct 2018

Business | Development updates: October 2018

In the latest career development updates, Deloitte UK profit drops as revenue rises, pensions dashboard back on government agenda, long notice and affirmation of contract

1 Oct 2018