Business &amp; Accountancy Daily

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Finance | Half of execs fail to spot financial errors before reporting

More than half of finance professionals and global business leaders are not completely confident they can identify financial errors before reporting results, according to a survey commissioned by software specialist BlackLine

19 Feb 2019

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Business | BDO pilots Flybmi administration

BDO business restructuring partners Graham Newton, Tony Nygate and James Stephen have been appointed as joint administrators over British Midland Regional Ltd, the East Midlands-based airline which operated as Flybmi, and ceased operations at the weekend with all flights cancelled and the loss of around 400 jobs

19 Feb 2019

Restructuring & Insolvency

Companies

Accountancy Firms

18 Feb 2019

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Tax | Par for the course: top tax issues for sports stars

For top sporting athletes there are a number of tax compliance issues to keep an eye on, from being on the right tax code, to testimonial payments, image rights and agents’ fees. Elliott Buss, partner and head of sports group, UHY Hacker Young provides useful tips and advice for avoiding a confrontation with the taxman

18 Feb 2019

Tax | Clarification of settlement terms for disguised remuneration liabilities

HMRC has issued updated guidance to clear up a misunderstanding about the arrangements for settlement of disguised remuneration liabilities for loan charges in relation to inheritance tax (IHT)

18 Feb 2019

Tax | Businesses not ready for Making Tax Digital VAT deadline

Nearly two thirds of businesses (64%) say that Making Tax Digital is a good idea but that they need more support with their plans ahead of the deadline of 1 April for mandatory digital VAT reporting, and only 12% are confident of their approach, according to research from KPMG

18 Feb 2019

Finance | Another slice of Patisserie Valerie sold

Administrators from KPMG have sold a further slice of Patisserie Holding’s business, with the disposal of Baker & Spice to the Department of Coffee & Social Affairs for £2.5m

18 Feb 2019

Tax | Ignore email scams promising fake HMRC tax refunds

Scammers are targeting self assessment taxpayers by email claiming they are entitled to tax refunds and asking for bank details to transfer the money

18 Feb 2019

Tax | Commuter belt St Albans worst offender for tax avoidance

Leafy Hertfordshire commuter town St Albans leads the UK for individuals admitting unpaid tax in terms of raw population, followed by Edinburgh and Slough

18 Feb 2019

Tax | Consultation on tax regime to curb plastic packaging production

The Treasury and the Department for Environment, Food and Rural Affairs are consulting on proposals first announced at Budget 2018 to introduce a new tax on the production and import of plastic packaging with less than 30% recycled content, in a bid to encourage greater reduction in the use of plastic

18 Feb 2019

Tax

Business Tax

Consultations

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Business | Deloitte ethnicity pay gap slow to close

Big Four firm Deloitte UK has said it still has some way to go in closing the firm’s entity pay gap, as its second year data should the mean pay gap is currently 12.9%, compared to 11.7% in 2017

18 Feb 2019

Accountancy Firms

Careers

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Business | Travel agent FD banned over missing £700K

The finance director of a travel agency has been disqualified for 11 years after he misappropriated £700,000 worth of company funds on failed foreign exchange trades

18 Feb 2019

Companies

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Business | Car dealer banned over £200K tax and creditor failures

The director of a car dealership and repair services has been banned for seven years after acting to the detriment of his customers and company creditors, including HMRC which was owed at least £80,000

18 Feb 2019

15 Feb 2019

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Finance | Vodafone drops PwC in swap to EY for £18m audit

Telecom giant Vodafone Group is ringing the changes once again in its choice of auditor and has dropped PwC after just four years in favour of EY, following a competitive tender process triggered by concerns over potential conflicts of interest

15 Feb 2019

Auditing

Corporate Governance

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HR | Top five: UK career hotspots for accountants

With the threat of Brexit looming over job markets, Lee Biggins, founder and managing director of CV-Library, highlights the top five UK cities for accountants looking to relocate this year

15 Feb 2019

Careers

Image for tesco and rbs financial reporting hit ifrs 16 leases

Finance | Tesco and RBS financial reporting hit by IFRS 16 Leases

Tesco is the latest company to flag up the negative impact of the latest IFRS 16 lease accounting standard on its balance sheet, with a projected £101m drop in profit before tax, while Royal Bank of Scotland results also hinted at the cost of future implementation

15 Feb 2019

Finance | Government passes SI to ensure accounting compliance post Brexit

Legislation to protect post Brexit filing exemptions for companies and limited liability partnerships (LLPs) under accounting rules have now been passed via a statutory instrument, SI 2019 No. 145, to ensure compliance with the Companies Act 2006

15 Feb 2019

Business | Rise in administrations illustrates business nervousness

Last year ended on a challenging note for many businesses, with the total number of companies in England and Wales entering into administration during the fourth quarter on the increase, according to analysis by KPMG

15 Feb 2019

Restructuring & Insolvency

Companies

Accountancy Firms

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Business | 56% of finance professionals against working nine to five

Four in ten (39%) finance professionals think outdated office traditions need to be abandoned, with 48.8% of workers in the sector claiming they would leave to join a more modern company if businesses failed to update the way they run their workplace

15 Feb 2019

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Business | How to turn up the LGBT voice in your workplace

Over the last decade, organisations have made huge strides in supporting lesbian, gay, bisexual and transgender (LGBT) employees and creating an inclusive workplace. Croner associate director Paul Holcroft considers how to ensure your workplace is diverse and inclusive

15 Feb 2019

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Business | Property bosses to pay thousands after abusing company accounts

A pair of married property directors have been ordered by the courts to pay back £182,000 having abused their company’s bank account, while also failing to make any tax payments for the six years it operated

15 Feb 2019

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HR | People in the news: Price Bailey, Grant Thornton, Mazars

Career news this week includes a VAT partner at Price Bailey, Grant Thornton gains a head of business development for its South Asia Group, Mazars appoints an office managing partner in Birmingham

15 Feb 2019