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Tax | R&D tax relief and the three-factor cap: what you need to know

The introduction of a cap on research and development (R&D) tax relief at three times the total of the companyʼs PAYE and NICs liability for that year is set to come into force in 2020 and could hit companies with a high R&D spend and low staff costs, despite protective measures, explains Stephen Relf ACA CTA

3 Jul 2019

Finance | Ferrexpo hires MHA MacIntyre Hudson for £2.4m audit

FTSE 250 Swiss mining group Ferrexpo has named MHA MacIntyre Hudson as its new auditor, following Deloitte’s resignation from the position earlier this year amid concerns about delays to an independent investigation into a possible ‘misappropriation’ of corporate social responsibility (CSR) funds

3 Jul 2019

Auditing

Corporate Governance

Image for sfo fines serco ps19m over fraud and false accounting

Finance | SFO fines Serco £19m over fraud and false accounting

Outsourcing giant Serco Group is set to pay £23m including costs under a deferred prosecution agreement (DPA) with the Serious Fraud Office (SFO) over fraud and false accounting charges

3 Jul 2019

Business | Haysmacintyre names Jeremy Beard as managing partner

Haysmacintyre has appointed Jeremy Beard as the new managing partner of the firm, ranked at number 26 in the Accountancy Daily 2019 league table of firms with a revenue of £28.8m

3 Jul 2019

Business

Accountancy Firms

Careers

Leadership & Management

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Business | Pension trustee system needs to be overhauled

The Pensions Regulator (TPR) is consulting on the future of trusteeship in a bid to raise standards and reduce the number of poorly governed pension schemes

3 Jul 2019

Finance | FRS 102: liabilities vs equity - NEW CPD module

This month’s exclusive Accountancy Daily CPD module will look at the FRS 102 accounting treatment of liabilities versus equity

3 Jul 2019

Tax | Scotland pays £2bn in sin taxes

Taxpayers in Scotland pay a disproportionate share of sin taxes in the UK, paying 13.4% of spirits duties and 11.4% of tobacco duties last year, equivalent to £229 for every adult

3 Jul 2019

Tax

Personal Tax

Tax Compliance

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Finance | Charity regulator investigating funds at unregistered organisation

The Charity Commission is to investigate the funds raised by an unregistered organisation, Sikh Youth UK, as the money is classed as being charitable and there have been warnings over financial management

3 Jul 2019

Tax | Childcare and tax: 30-hours free childcare – part 4

In part four of a series on childcare tax issues, Julie Clift CTA, specialist tax writer at Croner-i, examines how the government’s 30-hours free childcare scheme works and the various tax compliance issues

2 Jul 2019

Tax | Q&A: tax liability for property transfer in divorce

In our regular Q&A series, Croner Taxwise consultant Steven Jones warns divorcing couples to consider the capital gains tax (CGT) implications when a residential property is transferred to one partner in the event of divorce in a no gain, no loss situation under section 58 of TCGA 1992

2 Jul 2019

Tax | Rules for non-residential structures and buildings allowance amended

HMRC has amended the compliance rules for a new capital allowance for non-residential structures and buildings (SBA) following consultation

2 Jul 2019

Finance | Companies to report on financial risks from climate change

The government is to introduce requirements for publicly listed companies and large asset owners to disclose by 2022 how climate change risk impacts their activities, as part of a newly launched green finance strategy

2 Jul 2019

Business | Big increase in cyber incidents at financial services firms

There has been a sharp spike in the number of cyber incidents reported by financial services firms, with 819 cases logged with the Financial Conduct Authority (FCA) in 2018, up from 69 the previous year, according to analysis from RSM

2 Jul 2019

Tax | Consultations: July 2019

This month's HMRC and Treasury consultations focus on a review of the effectiveness of social investment tax relief, draft legislation for extending offshore receipts for intangible property and an overhaul of Companies House' business disclosure regime

2 Jul 2019

Tax

Consultations

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Tax | Football player’s image rights taxable as earnings

In the case of Hull City AFC (Tigers) v HMRC TC/2015/02945, a tribunal ruling stressed the importance of substance when structuring image rights deals, in a decision which has implications beyond footballers, explain Mark Davies and Sian Armitage of Mark Davies & Associates

1 Jul 2019

Business | PwC announces new board and partners

PwC UK has announced a shake-up of the leadership of its core business divisions along with the promotion of 69 new equity partners from 1 July

1 Jul 2019

Business

Accountancy Firms

Leadership & Management

Image for ftse 250 under fire over female board representation

Business | FTSE 250 under fire over female board representation

There remain four companies in the FTSE 250 with all-male boards, and too many have a ‘one and done’ approach to increasing the proportion of women in senior leadership roles, according to the latest analysis from the independent review body backed by government

1 Jul 2019

Business

Accountancy Firms

Careers

Leadership & Management

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Finance | IASB proposes amendments to IFRS 17 Insurance Contracts

The International Accounting Standards Board (IASB) is consulting on proposed amendments to the Insurance Contracts standard, IFRS 17 before it is even introduced to reduce the costs of implementation and make it easier for companies to explain their financial results after they apply the standard

1 Jul 2019

Finance | Legal updates: July 2019

In this month’s legal updates, Sophie Brookes, partner at law firm Gateley plc, considers a complex accounts warranty claim in 116 Cardamon, limited liability and veil of incorporation in Hurstwood, and defining 'ordinary and proper course of business' in Akcil

1 Jul 2019

Finance

Financial Reporting

Law and Regulation

Finance | Audit updates: July 2019

In this month’s audit updates, fines for PwC over Redcentric, KPMG refuses to retender $2.2m Cineworld audit, ICAEW finds one in four audits sub-standard, Gama Aviation ditches Grant Thornton and the Financial Reporting Council gets a new head of audit inspections on loan from the Bank of England

1 Jul 2019

Auditing

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Latest news

Tax | R&D tax relief and the three-factor cap: what you need to know

Finance | Ferrexpo hires MHA MacIntyre Hudson for £2.4m audit

Finance | SFO fines Serco £19m over fraud and false accounting

Business | Haysmacintyre names Jeremy Beard as managing partner

Business | Pension trustee system needs to be overhauled

Finance | FRS 102: liabilities vs equity - NEW CPD module

Tax | Scotland pays £2bn in sin taxes

Finance | Charity regulator investigating funds at unregistered organisation

Tax | Childcare and tax: 30-hours free childcare – part 4

Tax | Q&A: tax liability for property transfer in divorce

Tax | Rules for non-residential structures and buildings allowance amended

Finance | Companies to report on financial risks from climate change

Business | Big increase in cyber incidents at financial services firms

Tax | Consultations: July 2019

Tax | Football player’s image rights taxable as earnings

Business | PwC announces new board and partners

Business | FTSE 250 under fire over female board representation

Finance | IASB proposes amendments to IFRS 17 Insurance Contracts

Finance | Legal updates: July 2019

Finance | Audit updates: July 2019