Business &amp; Accountancy Daily

Accountancy Firms

Image for sqa faces accounting fraud probe

Finance | SQA faces accounting fraud probe

The Scottish Qualifications Authority (SQA) is under investigation over allegations of internal accounting fraud, with claims a six-figure sum could be involved

10 Dec 2019

Finance

Accounting Standards

Law and Regulation

Image for frc fines gt ps650k over audit lapses

Finance | FRC fines GT £650k over audit lapses

Grant Thornton has been fined £650,000 by the Financial Reporting Council (FRC), reduced for cooperation, over failures in the 2016 audit of an unnamed publicly listed company, which included inadequate sampling, a lack of professional scepticism and insufficient documentation

10 Dec 2019

Auditing

Corporate Governance

Image for qa vat and setting amazon reseller

Tax | Q&A: VAT and setting up an Amazon reseller

In our regular Q&A series from Croner Taxwise, Hilary Budd gives pointers on VAT compliance obligations to consider when starting to sell via Amazon Marketplace as a third party seller

10 Dec 2019

Personal Tax

VAT

Image for oecd countries tax revenues flatten out

Tax | OECD countries’ tax revenues flatten out

Tax revenues in advanced economies reached a plateau during 2018, ending the trend of annual increases in the tax-to-GDP ratio seen since the financial crisis, according to the OECD’s latest research

10 Dec 2019

International Tax

Image for woolf goodwill write periods must be limited

Finance | Woolf: goodwill write-off periods must be limited

As the collapse of Carillion and Thomas Cook have shown, auditing goodwill and impairments can represent insurmountable problems for auditors, so maximum write-off periods for these intangibles could be the only solution, argues Emile Woolf

10 Dec 2019

Auditing

Audit Regulations

Image for election 2019 how party tax policies stack

Tax | Election 2019: how party tax policies stack up

Zak Jakubowski examines the tax plans of the main political parties and their impact on businesses and individual taxpayers. Plus, download our quick party-by-party guide on tax pledges

10 Dec 2019

Politics

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Tax | Tronc versus tips: understanding tax and NI liability

As the festive season gathers pace, the contentious area of tips versus tronc raises some tricky tax and NI compliance issues. Andy Turner, partner at Mercer & Hole, shares his tips on the most frequently asked questions on tronc

9 Dec 2019

Business | Late payment delays double in a year

UK businesses are waiting longer to get paid in 2019, with late payments doubling from 12 days in 2018 to 23 days currently, according to research from MarketFinance

9 Dec 2019

Companies

Image for ericsson pays 1bn over us corruption charges

Business | Ericsson pays $1bn over US corruption charges

Swedish telecoms giant Ericsson is to pay more than $1bn (£760m) to settle bribery charges brought by the Securities and Exchange Commission (SEC) and the US Department of Justice (DOJ), and is required to appoint an independent compliance monitor

9 Dec 2019

Tax | High end dating site loses VAT dispute

An upmarket matchmaking business has failed in its bid at a First Tier Tribunal (FTT) to overturn a demand from HMRC for VAT due on the services it provides

9 Dec 2019

VAT

Case Reports

Image for building firm collapses loss 150 jobs

Business | Building firm collapses with loss of 150 jobs

KPMG has been appointed as administrator to Midlands construction firm Clugston, which has collapsed following a series of losses on waste-to-energy projects, putting some 400 jobs at risk

9 Dec 2019

Restructuring & Insolvency

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Finance | Call for corporate reporting to focus on culture

Accountants need to respond to investor demands for more transparency and actionable insights from company reports, but have doubts about the potential for artificial intelligence (AI) to help with this analysis, research by EY has found

9 Dec 2019

Finance

Accounting Standards

Image for paye compliance after business mergers clarified

Tax | PAYE compliance after business mergers clarified

HMRC has clarified the rules on the treatment of PAYE employees and full payment submissions (FPS) in the event of business merger or company change of ownership

9 Dec 2019

| Finance Mole: office politics beats election hustings

With less than a week until the election, Finance Mole is keeping his head down, avoiding irritating political insights by focusing on the Christmas raffle

6 Dec 2019

Image for people news pwc beever and struthers pinsent masons

HR | People in the news: PwC, Beever and Struthers, Pinsent Masons

In this week’s accountancy career moves, partner promotions at Grant Thornton, Johnston Carmichael and BHP, and hires at BKL and Pinsent Masons

6 Dec 2019

Leadership & Management

Image for hmrc cuts call waiting time five minutes

Tax | HMRC cuts call waiting time to five minutes

The number of taxpayers calling HMRC to ask for advice and deal with problems has fallen with less use of phone services in October as more people go online to use digital services as the number of digital accounts exceeds 21m

6 Dec 2019

Making Tax Digital

HMRC

Image for university launches level 6 accounting apprenticeship

HR | University launches Level 6 accounting apprenticeship

A lecturer at Birmingham City University has won the backing of the Institute of Financial Accountants (IFA) for a campaign to create a new Level 6 degree apprenticeship, offering potential apprentices the opportunity to earn and learn, and qualify to honours degree level

6 Dec 2019

Image for isle man seeks hundreds accountants

HR | Isle of Man seeks hundreds of accountants

The Isle of Man government has launched a drive to recruit hundreds of accountants in 2020, with a campaign highlighting the financial incentives and quality of life on offer for those looking to relocate

6 Dec 2019

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Business | Only 22% of CFOs rated personally effective

Under a quarter of CFOs are personally effective and most spend too long on finance tasks, wasting the equivalent of one day a week when they could be supporting the business in other areas, according to Gartner

6 Dec 2019