Corporation tax receipts increase 13%, More devolution risks lack of 'proper scrutiny of local spending', and CPD year-end deadline urges immediate action from professionals

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Finance | Beyond the red flags – the alternative fraud triangle

The level of fraud in businesses is growing exponentially but the only way to get to grips with the scale of the problem is to drill down to the fundamental reasons why it happens and risk factors for finance departments, says Arun Chauhan, founder and managing director of Tenet Compliance & Litigation

25 Mar 2019

Leadership & Management

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Tax | When is a temporary workplace not a temporary workplace for tax purposes?

Temporary workplace expense claims can be a challenge for employers when it comes to ensuring HMRC compliance with tax rules. David Redfern, managing director of DSR Tax Claims, examines potential pitfalls when determining whether claims should be allowed

25 Mar 2019

Tax | 1.13m businesses still to sign up to Making Tax Digital

With just one week to go until Making Tax Digital for VAT is introduced for more than a million businesses, HMRC says just 70,000 have signed up for the new service, which is mandatory from 1 April

25 Mar 2019

Business | Financial services optimism plummets

Sentiment among financial services firms deteriorated further in the quarter to March, plunging sharply at the fastest pace since December 2008, according to the latest CBI/PwC survey

25 Mar 2019

Business

Companies

Accountancy Firms

Image for scotland offers rates relief boost full fibre business

Business | Scotland offers rates relief to boost full fibre for business

Telecommunications firms are to benefit from 100% non-domestic rates relief on new fibre broadband infrastructure in Scotland to help them make the business case for installations, the Scottish government has revealed

25 Mar 2019

Tax | Investigations into apprenticeship levy underpayments double

The number of investigations launched by HMRC into the underpayment of the apprenticeship levy has more than doubled in a year to 84, up from 33 in 2017/18, according to analysis by UHY Hacker Young

25 Mar 2019

Finance | Grant Thornton picks up £500K Mothercare audit

High street mother and baby retail chain Mothercare has chosen Grant Thornton UK as its new auditor with effect from the 28 March 2020 financial year, ending a 17-year relationship with Deloitte

25 Mar 2019

Auditing

Corporate Governance

Image for hmrc updates no deal eu trading advice

Business | HMRC updates ‘no deal’ EU trading advice

As Brexit negotiations continue to be poised on a knife-edge, HMRC has announced it is extending arrangements already announced for traders to use transitional simplified procedures (TSP) designed to make importing easier, in the event of the UK leaving the EU without a withdrawal agreement on the new date of 12 April

25 Mar 2019

Business

Companies

22 Mar 2019

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Tax | Calculating a PILON payment and tax liability

Changes to employment tax in the event of termination of employee contracts mean that payment in lieu of notice (PILON) is now treated as earnings so income tax and NICs are payable in full. Croner-i experts provide tips on how to make the correct tax calculation with a worked example

22 Mar 2019

Business | Business funding: alternative finance for SMEs

Raising finance is one of the big concerns for businesses, particularly SMEs, who often face investment barriers, but there are alternative finance options, explains Dominic Buch, co-founder and managing partner, Caple

22 Mar 2019

Business

Companies

Accountancy Firms

Image for law firms probed anti money laundering compliance

Finance | Law firms probed on anti money laundering compliance

Solicitors’ firms are to be inspected to ensure they are meeting anti-money laundering obligations, with the Solicitors Regulation Authority (SRA) revealing it will be carrying out checks on a sample of 400 law firms

22 Mar 2019

Finance | CIPFA consults on first-ever financial management code

CIPFA is consulting on a proposed new financial management code (FM code), which aims to drive improvement in financial management for all local authorities in the UK, marking the first time many areas of local government financial management have been codified

22 Mar 2019

Tax | Scrap metal company tops tax defaulter list owing £16.4m

HMRC’s latest list of major tax defaulters is topped by a scrap metal company owing £16.4m on £22.9m unpaid tax, followed by a restaurant owing £626,461, with a raft of takeaways and construction services also featuring

22 Mar 2019

Business | Giraffe restaurant closures as CVA agreed

The creditors of Giraffe Concepts Ltd, the operator of the Ed’s Easy Diner and Giraffe restaurant brands, have approved its proposed company voluntary arrangement (CVA), which will see around a third of the sites close, putting hundreds of jobs at risk

22 Mar 2019

Business

Companies

Restructuring & Insolvency

Image for oecd releases first beneficial ownership toolkit

Tax | OECD releases first beneficial ownership toolkit

The OECD’s global forum on transparency and exchange of information for tax purposes has released the first ever beneficial ownership toolkit designed to help governments, particularly in developing countries, comply with international transparency standards

22 Mar 2019

Business | Fraud total hits £1.2bn

Authorised and unauthorised fraud totalled £1.2bn in 2018, with the theft of personal and financial data through social engineering a major contributor to fraud losses, according to the annual report from UK Finance

22 Mar 2019

21 Mar 2019

Image for essentials cgt liability non uk residents disposing uk land

Tax | Essentials: CGT liability for non-UK residents disposing of UK land

Non-UK residents will be pulled into the capital gains tax (CGT) regime for the first time this April if they dispose of UK land and property. Nimesh Shah, partner at Blick Rothenberg, examines the key tax compliance issues and how the rules are changing

21 Mar 2019

Finance | Solicitors Regulation Authority to introduce new accounts rules

The Solicitors Regulation Authority (SRA) has confirmed new regulations, which include simpler accounting rules for client monies under the SRA Accounts Rules, due to come into effect on 25 November 2019

21 Mar 2019

Tax | TV’s Lorraine Kelly wins £1.2m IR35 appeal

TV presenter Lorraine Kelly has won an appeal at a First Tier Tribunal (FTT) over a £1.2m demand for unpaid income tax and National Insurance contributions (NICs) arising from a challenge to her employment status under IR35

21 Mar 2019

Tax | Call for 0.5% levy on social media firms to fund mental health support

A cross-party group of MPs is calling for a 0.5% levy on the profits of social media companies, to be used to fund a new Social Media Health Alliance which would work to protect the health and wellbeing of young people

21 Mar 2019

Business | ICAEW set to launch pay-per-view system for guidance

ICAEW plans to open up some of the professional content currently available exclusively to faculty members with a new pay-per-view system, which will allow all members to buy one-off guidance without joining a faculty

21 Mar 2019

Leadership & Management

Image for bbc criticised cost overruns eastenders set

Finance | BBC criticised for cost overruns on EastEnders set

MPs have lambasted the BBC for ‘fundamental’ project management failures in the redevelopment of the set for its flagship TV series EastEnders, which is set to cost £27m more than budgeted and will be completed five years later than planned

21 Mar 2019

Tax | Council tax increases by 3% across Scotland

A report has revealed that all 32 councils in Scotland increased council tax by the maximum allowable 3% in 2018/19 for the first time since the council tax freeze was lifted

21 Mar 2019

Finance | Regulator highlights lack of financial controls at London charity

A Charity Commission inquiry into a South London charity, the Khatme Nubuwwat Centre (KNC), has found that the trustees are responsible for a series of failings amounting to misconduct and/or mismanagement, which include a lack of adequate financial controls or policies

21 Mar 2019

Business

Charities

Tax | Labour in favour of fuel duty hike

A future Labour government is set to increase fuel duty and airline passenger duty – both of which have been frozen for several years – as part of a bid to redesign the transport system and respond to concerns around climate change, the party’s shadow transport secretary has indicated

21 Mar 2019

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Tax Services

Latest news

Finance | Beyond the red flags – the alternative fraud triangle

Tax | When is a temporary workplace not a temporary workplace for tax purposes?

Tax | 1.13m businesses still to sign up to Making Tax Digital

Business | Financial services optimism plummets

Business | Scotland offers rates relief to boost full fibre for business

Tax | Investigations into apprenticeship levy underpayments double

Finance | Grant Thornton picks up £500K Mothercare audit

Business | HMRC updates ‘no deal’ EU trading advice

Tax | Calculating a PILON payment and tax liability

Business | Business funding: alternative finance for SMEs

Finance | Law firms probed on anti money laundering compliance

Finance | CIPFA consults on first-ever financial management code

Tax | Scrap metal company tops tax defaulter list owing £16.4m

Business | Giraffe restaurant closures as CVA agreed

Tax | OECD releases first beneficial ownership toolkit

Business | Fraud total hits £1.2bn

Tax | Essentials: CGT liability for non-UK residents disposing of UK land

Finance | Solicitors Regulation Authority to introduce new accounts rules

Tax | TV’s Lorraine Kelly wins £1.2m IR35 appeal

Tax | Call for 0.5% levy on social media firms to fund mental health support

Business | ICAEW set to launch pay-per-view system for guidance

Finance | BBC criticised for cost overruns on EastEnders set

Tax | Council tax increases by 3% across Scotland

Finance | Regulator highlights lack of financial controls at London charity

Tax | Labour in favour of fuel duty hike