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Tax | Wealth series: how to advise a client on inheritance – part 1

In an exclusive series on wealth management, Emma Watson, head of financial planning at Rathbone Investment Management, examines the implications of dealing with large inheritances, from pre-planning to deeds of variation and cashflow modelling

24 Oct 2019

Tax

Personal Tax

Tax Planning

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Finance | FRC launches revised ‘green’ UK stewardship code

The Financial Reporting Council (FRC) has published a revised UK Stewardship Code, widening the scope to include pension funds and insurers, and adding new annual reporting requirements

24 Oct 2019

Finance

Financial Reporting

Law and Regulation

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Finance | ESMA reporting enforcement prioritises IFRS 16 Leases

The European Securities and Markets Authority (ESMA) has outlined the priorities for European enforcers when examining 2019 annual financial reports of listed companies

24 Oct 2019

Finance

Financial Reporting

IFRS

Image for hmrc clarifies ir35 rules payroll workers

Tax | HMRC clarifies IR35 rules for off-payroll workers

With six months to go until the IR35 rules for off-payroll workers in the private sector come into force, HMRC has set out its approach to the operation and enforcement of the new regulations

24 Oct 2019

Finance | Charity SORP committee looking to hire members

Specialists in charity accounting are being sought to join the Charity SORP committee following an overhaul of the current membership and plans to modernise charity financial reporting

24 Oct 2019

Business

Charities

Careers

Image for regulatory pressure and brexit major risks charity sector

Finance | Regulatory pressure and Brexit major risks for charity sector

International UK charities are facing economic and political uncertainty, with government policy, Brexit and future funding all areas for concern, while increased public scrutiny is putting the sector under pressure to improve its accountability

24 Oct 2019

Business

Charities

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Finance | Financial reporting failures put Bournemouth charity under investigation

Continued failure in reporting obligations have prompted the regulator to start an inquiry into Bournemouth based charity which runs a community centre set up to promote spiritual, mental, physical and social development

24 Oct 2019

Business

Charities

23 Oct 2019

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Finance | RSM hired as Sports Direct auditor

Sports Direct has appointed RSM after four weeks without an auditor following the resignation of Grant Thornton, who had audited the company since 2004

23 Oct 2019

Auditing

Corporate Governance

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Finance | FRC critical of auditor independence at Thomas Cook hearing

The Financial Reporting Council (FRC) has highlighted widespread concerns about whether auditors are sufficiently ‘dispassionate’ when assessing a company’s financial reporting, or whether client relationships are clouding their judgment and level of challenge, during evidence to MPs at the inquiry into the collapse of Thomas Cook

23 Oct 2019

Auditing

Corporate Governance

Business

Restructuring & Insolvency

Image for zero rated building alterations private residence disabled person

Tax | Zero-rated building alterations in private residence of disabled person

When a room in a house is converted for a specific use by a disabled person complex VAT rules apply. HMRC has revised VAT Notice 701/7 to provide clarity on how to interpret the VAT charges. Angela Bedi, Croner-i tax specialist, explains

23 Oct 2019

Tax | Mel Stride to chair Treasury Committee

Former financial secretary to the Treasury and Conservative MP Mel Stride has been appointed as chair of the influential Treasury Committee

23 Oct 2019

Tax | 100 days to self assessment tax return deadline

With 100 days to go before the 31 January 2020 deadline, HMRC is warning taxpayers to complete their tax returns early to beat the Christmas and New Year rush

23 Oct 2019

Tax | HMRC has no figures on cost of post-Brexit customs procedures

In a session before the Treasury Committee, HMRC chief told MPs that it had not calculated the administrative cost of the government’s Brexit deal on exporting businesses and that several thousand high value exporters were not even ready for a no-deal Brexit

23 Oct 2019

Tax | Scotland plans plastic drinks cup tax

The Scottish government is to introduce a charge on single-use drinks cups in a bid to reduce the amount of plastic used

23 Oct 2019

Finance | One in five do not trust UK audit system

An overwhelming majority of the public do not trust the current audit system and nearly three quarters support the introduction of joint audit, shows a poll conducted for Mazars

23 Oct 2019

Auditing

Corporate Governance

Image for over 3000 jobs risk high street chain administrations

Business | Over 3,000 jobs at risk in high street chain administrations

As financial distress on the high street deepens, administrators have been appointed at womenswear fashion chain Bonmarche and Scottish department store Watt Brothers

23 Oct 2019

Business

Restructuring & Insolvency

Image for directors banned over failure put creditors first

Business | Directors banned over failure to put creditors first

A family of directors from Bedfordshire have been banned for a total of 19 years after they took advantage of their creditors and owed over £50,000 to HMRC

23 Oct 2019

Business

Called to Account

22 Oct 2019

Image for mps question pwc ey over thomas cook going concern status

Finance | MPs question PwC, EY over Thomas Cook going concern status

MPs have severely criticised senior audit professionals from PwC and EY over their level of challenge to management’s going concern statements as part of an investigation into the collapse of Thomas Cook, as well as highlighting strong objections to the provision of non-audit services to audit clients

22 Oct 2019

Tax | Sporting testimonials and the taxman

HMRC is keeping a close eye on sporting testimonials to ensure that retiring footballers, cricketers and rugby players are complying with the labyrinthine tax rules. Andy Turner, partner at Mercer & Hole, examines potential pitfalls

22 Oct 2019

Finance | Lack of consistency on climate change reporting worries investors

The quality of reporting on climate-related issues is falling short of investors’ expectations with a lack of consistent comparative data and analysis, while materiality issues are frequently ignored

22 Oct 2019

Tax | Mel Stride in running for chair of Treasury Committee

Four Conservative MPs have been nominated for the position of chair of the Treasury Committee, to replace Nicky Morgan, including ex Treasury minister Mel Stride

22 Oct 2019

Tax

Politics

Image for growing call scrap entrepreneurs relief

Tax | Growing call to scrap entrepreneurs relief

The introduction of incentives such as entrepreneurs relief have resulted in business owners shifting their income around to minimise tax payments, rather than encouraging investment, according to research by the Institute for Fiscal Studies (IFS)

22 Oct 2019

Tax

Personal Tax

Tax Planning

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Latest news

Tax | Wealth series: how to advise a client on inheritance – part 1

Finance | FRC launches revised ‘green’ UK stewardship code

Finance | ESMA reporting enforcement prioritises IFRS 16 Leases

Tax | HMRC clarifies IR35 rules for off-payroll workers

Finance | Charity SORP committee looking to hire members

Finance | Regulatory pressure and Brexit major risks for charity sector

Finance | Financial reporting failures put Bournemouth charity under investigation

Finance | RSM hired as Sports Direct auditor

Finance | FRC critical of auditor independence at Thomas Cook hearing

Tax | Zero-rated building alterations in private residence of disabled person

Tax | Mel Stride to chair Treasury Committee

Tax | 100 days to self assessment tax return deadline

Tax | HMRC has no figures on cost of post-Brexit customs procedures

Tax | Scotland plans plastic drinks cup tax

Finance | One in five do not trust UK audit system

Business | Over 3,000 jobs at risk in high street chain administrations

Business | Directors banned over failure to put creditors first

Finance | MPs question PwC, EY over Thomas Cook going concern status

Tax | Sporting testimonials and the taxman

Finance | Lack of consistency on climate change reporting worries investors

Tax | Mel Stride in running for chair of Treasury Committee

Tax | Growing call to scrap entrepreneurs relief