Business &amp; Accountancy Daily

Image for deloitte hr manager heads invictus games

Finance | Deloitte HR manager heads for Invictus Games

Stephen Rice, HR learning manager at Deloitte, was picked for Team UK at the Invictus Games 2020

1 Nov 2019

Charities

Image for audit firms champion lgbt role models

Business | Audit firms champion LGBT+ role models

Leaders from Deloitte, EY and PwC have been named on this year’s annual role model lists published by Involve, a membership organisation championing diversity and inclusion in business

1 Nov 2019

Accountancy Firms

Business | Called to account: November 2019

This month’s named and shamed consists of a Deloitte audit partner who was fined £120k by the FRC, directors banned over failing to put creditors first, a land engineering boss banned for 11 years over tax offences and money launderers jailed for role in £1m ‘rare earth’ metal scam

1 Nov 2019

Called to Account

Image for regulator finds misconduct and mismanagement charity

Finance | Regulator finds misconduct and mismanagement at charity

Three trustees of a Hereford and Worcester-based charity have resigned after a regulatory inquiry uncovered a string of failures in its governance, finances and safeguarding

1 Nov 2019

Charities

Called to Account

Image for tax data cgt data hmrc rates interest nov 2019

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

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

1 Nov 2019

Tax

Tax Compliance

Image for government considers mandatory employee references

HR | Government considers mandatory employee references

The government is considering changing the rules on work references to force employers to provide a basic reference for former employees

1 Nov 2019

Image for hmrc discovery assessments new cpd module

Tax | HMRC discovery assessments - NEW CPD module

This month's exclusive Accountancy Daily CPD module focuses on HMRC discovery assessments, particularly focusing on when they can be issued and how to challenge them, taking into account the rules applying for income tax, capital gains tax and corporation tax.

1 Nov 2019

Finance | Audit updates: November 2019

In this month’s audit updates, FRC fines leap 44%, MPs grill auditors over Thomas Cook, PwC in $7.9m independence fine, Kingman warns of reform drift while Brydon hits out at ‘shotgun’ approach, BDO predicts 25% audit fee hike, public demands ‘more teeth’ at regulator as new team take over and going concern audit standard is ‘toughened’

1 Nov 2019

Auditing

Corporate Governance

Audit Regulations

Tax | VAT updates: November 2019

In this month’s VAT updates, Graham Elliott, director at City & Cambridge Consultancy, considers whether direct patient contact is necessary for medical services, how waiting for a single document lost a self-builder’s tax claim, and whether a husband and wife’s businesses were one or two businesses

1 Nov 2019

Tax

VAT

Finance | Legal updates: November 2019

In this month’s legal updates, Sophie Brookes, partner at law firm Gateley plc, considers whether an automatic email signature can act as a real signature, whether the actions of a company’s members were vexatious, and whether legal professional privilege can be lost when a company dissolves

1 Nov 2019

Finance

Law and Regulation

31 Oct 2019

Image for grant thornton partner pay drops ps20k

Business | Grant Thornton partner pay drops £20k

Mid-tier firm Grant Thornton has shifted its accounting period by six months, from June to December, and has released an interim transparency report showing a drop in partner profit for the past 12 months

31 Oct 2019

Accountancy Firms

Image for football charity kick it out faces bullying claims

Finance | Football charity Kick It Out faces bullying claims

The staff at football charity Kick It Out (KIO) have been let down by their management and trustees over a failure to deal with sexual harassment, bullying and safeguarding

31 Oct 2019

Charities

Called to Account

Image for halloween deadline self assessment paper tax return

Tax | Halloween deadline for self assessment paper tax return

It could be a Halloween tax nightmare for some of the UK’s small businesses, who risk missing a trick by failing to hit the 31 October deadline for returning self assessment paper tax returns

31 Oct 2019

Tax | Pension tax repayments top £54m

HMRC has handed back almost £55m to savers who had overpaid tax on pension withdrawals in the past three months, the highest figure since drawdown rules were relaxed

31 Oct 2019

Tax | Australian backpacker tax ruled illegal

Some 75,000 casual holiday-workers may be in line for payouts of thousands of dollars from the Australian Tax Office (ATO)

31 Oct 2019

Tax | Tax filing deadlines: Nov-Dec 2019

The key HMRC filing deadlines from November to December 2019 including second Making Tax Digital submission for end of relevant VAT quarter, one month if on payments on account, and corporation tax third quarterly instalment payment

31 Oct 2019

Finance | International reporting: dynamic risk, disclosures and financial reporting

Improving the quality of risk management and disclosure is a priority for the International Accounting Standards Board (IASB) and revising IAS 32 is central to its plans for 2020. Jeroen Van Doorsselaere examines the priorities

31 Oct 2019

Tax | HMRC issues early guidance on moving pension holders between payrolls

HMRC has released an alert advising that it plans to update the guidance on paying a company pension or annuity through company payroll, with preliminary details now available

31 Oct 2019

30 Oct 2019

Image for payroll working rules your company or llp affected part 1

Tax | Off-payroll working rules: is your company or LLP affected – part 1

An overhaul of IR35 tax rules for contractors in the private sector comes into force from 6 April 2020 when off-payroll working is extended to medium and large businesses, and LLPs. Julie Clift CTA, tax writer at Croner-i, explains how this will affect businesses hiring contract workers, with liability for income tax and PAYE shifting to employers

30 Oct 2019

Tax | Budget push-back delays Finance Bill

The announcement of a general election on 12 December 2019 means the Finance Bill 2019-20 will not be passed in the current parliamentary session

30 Oct 2019

Tax | HMRC gives limited MTD ‘digital links’ extension

HMRC has extended the Making Tax Digital (MTD) for VAT compliance date for businesses judged to have complex or legacy IT systems and they will be given extra time to meet the requirement to maintain digital links as part of the new filing regime

30 Oct 2019

Finance | CIMA updates accountants' code of ethics

CIMA has revised its code of ethics in response to the challenges of digital businesses and the impact of emerging technologies, effective from 1 January 2020

30 Oct 2019

Finance

Financial Reporting

Law and Regulation

Image for obr release financial forecasts despite budget cancellation

Tax | OBR to release financial forecasts despite Budget cancellation

The Office for Budget Responsibility (OBR) is to press ahead with publishing revised public finance forecasts as planned, rather than risk failing to meet its statutory duties, despite the Chancellor’s decision to cancel the Budget

30 Oct 2019

Finance | FRC wants corporate reporting improvements to increase trust

The FRC (Financial Reporting Council) has written to all audit committee chairs and finance directors, following its annual review of corporate reporting, calling for improvements in order to enhance public trust in business and ensure companies address the issues which matter for investors

30 Oct 2019

Finance

Financial Reporting

Image for former audit regulator head haddrill moves fla

Business | Former audit regulator head Haddrill moves to FLA

Stephen Haddrill, former head of the Financial Reporting Council (FRC), has been hired as director general of the Finance & Leasing Association (FLA)

30 Oct 2019

Accountancy Firms