Business &amp; Accountancy Daily

Image for aim listed byotrol delays results over revenue recognition

Finance | AIM-listed Byotrol delays results over revenue recognition

Shares in anti-microbial technology company Byotrol have been suspended from AIM after it failed to file an audited version of its results on time, partly because of accounting changes required under IFRS 15 Revenue from Contracts with Customers

1 Oct 2019

Finance

Financial Reporting

IFRS

Image for price bailey revamps board structure

Business | Price Bailey revamps board structure

Top 30 accounting firm Price Bailey is expanding the size of its executive board from five to six members and creating an operational board, to support growth and strengthen governance

1 Oct 2019

Accountancy Firms

Careers

Image for chancellor plans ps1050 national living wage

Tax | Chancellor plans £10.50 national living wage

The Chancellor has announced plans to increase the national living wage to £10.50 within five years and will reduce the age eligibility for the higher rate

1 Oct 2019

Finance | Pharma company pays $30m for accounting disclosure failures

Global pharmaceutical company Mylan is to pay $30m (£24m) to settle allegations from the Securities and Exchange Commission (SEC) that it failed to report details of a scandal involving sales of its EpiPen product in accordance with accounting rules, thereby misleading investors

1 Oct 2019

Tax | Year end tax planning for companies - NEW CPD module

This month’s exclusive Accountancy Daily CPD module will look at year end tax planning for companies and how to carry out an effective pre-year end review of the company’s tax affairs

1 Oct 2019

Finance | Audit updates: October 2019

In this month’s audit updates, date set for Autonomy audit complaint hearing, charity regulator criticises audits, Grant Thornton loses FTSE 250 audit, FRC chair fears reforms will not address concerns while EY boss admits zero contingency planning, and NAO consults on local code update

1 Oct 2019

Audit Regulations

Tax | Tax updates: October 2019

In this month’s tax updates, three BBC presenters lose IR35 case, Apple tax demand ‘defies reality’, Glencore wins £51m transfer pricing appeal, HMRC does not understand small business, 120,000 miss MTD deadline, double NIC Brexit warning, and NHS pension tax consultation

1 Oct 2019

Tax | Legal updates: October 2019

In this month’s legal updates, Sophie Brookes, partner at Gateley plc, considers failed tax claim in Stobart, whether interim accounts are acceptable for dividend distribution in Burnden Holdings and directors’ duties during a management buyout

1 Oct 2019

Tax

Business Tax

Law and Regulation

30 Sep 2019

Image for goals soccer centre accounting black hole deepens

Tax | Goals Soccer Centre accounting ‘black hole’ deepens

Goals Soccer Centre plc, which de-listed from AIM following the discovery of irregularities in its accounts, has warned the VAT misdeclarations could be ‘materially higher’ than the £12m originally announced

30 Sep 2019

Finance | FRC strengthens going concern requirements for auditors

The Financial Reporting Council (FRC) has revised its going concern standard, ISA UK 570, in response to a string of corporate failures where auditors failed to warn that companies were on the brink of collapse

30 Sep 2019

Audit Regulations

Image for johnston carmichael opens london office

Business | Johnston Carmichael opens London office

Scottish based accountancy firm, Johnston Carmichael, has opened a London office as part of a strategic expansion of its financial services sector offering

30 Sep 2019

Accountancy Firms

Careers

Image for businesses need urgent clarity ir35 private sector payroll rules

Tax | Businesses need urgent clarity on IR35 private sector off-payroll rules

With six months to go until IR35 off-payroll rules for contractors are extended to the private sector, HMRC is coming under fire over the lack of detailed information about liabilities about employment status

30 Sep 2019

Finance | Woolf: bring back auditors’ personal responsibility

After two decades of no change, the audit profession must become personally responsible and legally accountable if it is to provide the levels of assurance demanded by investors, argues Emile Woolf FCA

30 Sep 2019

Audit Regulations

Image for tax filing deadlines oct dec 2019

Tax | Tax filing deadlines: Oct-Dec 2019

The key HMRC filing deadlines from October to December 2019 including notification of chargeability for income tax/capital gains tax for 2018-19 if not registered for self assessment, loan charge payment deadline and Making Tax Digital for VAT reporting for deferred entry businesses

30 Sep 2019

Business | Money launderers jailed for role in £1m ‘rare earth’ metal scam

Three money launders who pocketed a share of a £1m from a ‘rare earth’ metal scam have been jailed‎

30 Sep 2019

Called to Account

Image for pasa publishes guidance gmp pension equalisation

Finance | PASA publishes guidance on GMP pension equalisation

The cross-industry GMP Equalisation Working Group launched by The Pensions Administration Standards Association (PASA), has published a guidance note outlining methods that schemes can use to equalise pensions to address the sex-based inequalities of Guaranteed Minimum Pensions (GMPs)

30 Sep 2019

Finance | IASB amends hedge accounting standard for IBOR changes

The International Accounting Standards Board (IASB) has amended hedge accounting rules under IAS 39 to ensure companies continue to provide useful financial information on interbank rates as IBOR is phased out as a measure

30 Sep 2019

27 Sep 2019

Image for beis committee investigate thomas cook auditors

Finance | BEIS committee to investigate Thomas Cook auditors

MPs are calling for faster progress on audit reform, as the Business, Energy and Industrial Strategy (BEIS) committee launched an inquiry into Thomas Cook’s leadership and auditors EY and PwC

27 Sep 2019

Business | How to keep business and personal finances separate

Setting a barrier between business and personal finances is an essential part of turning a business from a side project into a professional operation. Lisa Hogg, director at Wilson Field, explains

27 Sep 2019

Companies

Careers

Image for no replacement named hmrc chief jon thompson steps down

Tax | No replacement named as HMRC chief Jon Thompson steps down

The head of the HMRC, Sir Jon Thompson, is due to take up his new job as chief executive of the Financial Reporting Council (FRC) at the beginning of October but has not been replaced at the tax authority

27 Sep 2019

Tax | Tax data: CGT data, HMRC rates of interest - Oct 2019

Download the current HMRC CGT indexation allowance unchanged since December 2017, RPI index for August 2019, HMRC rates of interest, and property tax rates including SDLT, Scottish LBTT and Welsh LTT

27 Sep 2019

Business | Shareholder pressure to curb excessive pensions for top bosses

Listed companies are under pressure to align executive pension contributions with the workforce, after the Investment Association (IA) said it will give a ‘red top’, its highest level of warning, to any companies with existing directors who are paid more than 25% of salary as a pension contribution

27 Sep 2019

Companies

Pensions