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Image for ir35 rules private sector will not be retrospective

Tax | IR35 rules for private sector will not be retrospective

IR35 contractors mid-way through a contract when the off-payroll working rules for the private sector come into force in April will only go on payroll from the new 2020-21 tax year, reports Sara White

7 Feb 2020

Law and Regulation

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Business | Top 25 accounting firms in 2010: where are they now?

A decade since the financial crash, the top 25 accountancy firms look rather different to their pre-2009 counterparts, except for the ever expanding Big Four. Philip Smith assesses the cataclysmic changes of the last 10 years, with revenue comparisons

7 Feb 2020

Accountancy Firms

Image for pra bans two credit union directors over governance failures

Business | PRA bans two credit union directors over governance failures

The Prudential Regulation Authority (PRA) has taken its first ever enforcement action against the directors of a credit union for their role in the collapse of Enterprise Business Credit Union Ltd (EBCU) in 2015

7 Feb 2020

Called to Account

Image for top 75 firms survey 2020 record profits partner numbers cut

Business | Top 75 Firms survey 2020: record profits as partner numbers cut

Revenue at the UK’s top accounting firms is on a growth trajectory with 7% growth as income exceeds £16.8bn but stronger profitability and rising staff numbers has resulted in a decline in partner numbers as the fee to partner ratio has risen, reports Philip Smith

7 Feb 2020

Accountancy Firms

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Business | Called to account: February 2020

In this month’s scandals, convictions and penalties, a senior civil servant jailed for stealing from the Ministry of Justice and property pair sentenced for dodging capital gains tax on over 50 properties

7 Feb 2020

Called to Account

Image for ey targets carbon neutrality end 2020

Business | EY targets carbon neutrality by end of 2020

EY is the first Big Four firm committed to going carbon neutral within less than a year by reducing and offsetting its carbon emissions

7 Feb 2020

Accountancy Firms

Leadership & Management

Image for top 75 trainee interview hw fisher

Business | Top 75 trainee interview: HW Fisher

In our trainee series, Zak Jakubowski talks to Travis Martin, tax trainee at HW Fisher, about his three-year training contract and ambition to achieve chartered tax adviser status

7 Feb 2020

Accountancy Firms

Image for people news bdo mazars kreston streets

HR | People in the news: BDO, Mazars, Kreston, Streets

In this week’s accountancy career moves, partner appointments at BDO, Kreston and Mazars, and climate change lead for Deloitte

7 Feb 2020

Leadership & Management

Image for stone masonry firm tumbles administration

Business | Stone masonry firm tumbles into administration

Howard Smith, associate partner, and David Costley-Wood, partner, from KPMG have been appointed joint administrators to J Rotherham Masonry Ltd, which has collapsed

7 Feb 2020

Accountancy Firms

Restructuring & Insolvency

6 Feb 2020

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Business | Underwood: over-reliance on practice partners?

New year plans fall by the wayside as accounting firms return to the comfort of client service rather than focusing on a long-term strategy, but all businesses need to know where they are going, says Keith Underwood

6 Feb 2020

Accountancy Firms

Leadership & Management

Image for plans arga audit regulator due end march

Finance | Plans for ARGA audit regulator due by end March

The government has confirmed that it will replace the Financial Reporting Council (FRC) with a powerful new audit regulator as soon as parliamentary time is available

6 Feb 2020

Corporate Governance

Image for threshold frozen higher rate scottish taxpayers

Tax | Threshold frozen for higher rate Scottish taxpayers

Scotland plans to raise the income tax threshold for basic and intermediate taxpayers in line with inflation from April 2020 but top earners will see the figures frozen

6 Feb 2020

Image for autonomy founder given bail extradition hearing

Finance | Autonomy founder given bail at extradition hearing

Mike Lynch, the founder of IT software company Autonomy, has been freed on bail following an extradition hearing over HP case

6 Feb 2020

Financial Reporting

Accountancy Firms

Image for scottish finance minister resigns over inappropriate texts

Tax | Scottish finance minister resigns over inappropriate texts

Derek Mackay, Scotland’s finance secretary and a SNP member of the Scottish parliament, has resigned hours before he was due to deliver the Scottish Budget

6 Feb 2020

Image for us tax authority treats cryptocurrency assets property

Tax | US tax authority treats cryptocurrency assets as ‘property’

The US Internal Revenue Service (IRS) is under fire over its decision to classify cryptoassets as ‘property’ in its guidance on taxation for virtual currencies

6 Feb 2020

International Tax

Image for 160 year old newspaper hits blocks

Business | 160-year old newspaper hits the blocks

Cumberland & Westmorland Herald newspaper has called in administrators after the publisher collapsed after 160 years in print

6 Feb 2020

Restructuring & Insolvency

Image for auditor resignations 21

Finance | Auditor resignations up 21%

The number of auditors resigning from audits is up 21% in a year, as the Financial Reporting Council (FRC) puts firms under pressure to stop using audit as a loss-leader to get higher margin tax and consulting work

6 Feb 2020

Corporate Governance

Accountancy Firms

5 Feb 2020

Image for lords committee investigate ir35 rule change

Tax | Lords committee to investigate IR35 rule change

The House of Lords Finance Bill Sub-Committee has launched an inquiry into government plans to introduce off-payroll working rules for the private sector, with concerns about whether the impact has been fully assessed

5 Feb 2020

Image for audit regulator ramps investigations 13 budget hike

Finance | Audit regulator ramps up investigations with 13% budget hike

The Financial Reporting Council (FRC) is significantly beefing up its oversight and supervisory functions, recruiting 100 additional staff to improve the quality of its enforcement activity

5 Feb 2020

Corporate Governance

Accounting Consultations

Accountancy Firms

Image for 11 ftse 100 board directors are bame

Business | 11% of FTSE 100 board directors are BAME

There are just six ethnic minority directors in the position of chair or CEO in the FTSE 100 and nine in the FTSE 250, while over a third of FTSE 100 companies do not have any BAME board memebers

5 Feb 2020

Accountancy Firms

Leadership & Management

Image for woolf radical proposal state sponsored audit body

| Woolf: radical proposal for state sponsored audit body

The appointment of auditors needs to be nationalised with the creation of a overarching Public Company Audit Office to sign off the accounts if standards are ever to improve, argues Emile Woolf FCA

5 Feb 2020

Corporate Governance

Image for armstrong watson merges eura audit

Business | Armstrong Watson merges with Eura Audit

Armstrong Watson has merged with the Northallerton office of Eura Audit following the retirement of the audit partner

5 Feb 2020

Accountancy Firms

Image for praxity alliance reports 64bn revenues

Business | Praxity alliance reports $6.4bn revenues

Accounting firms in the Praxity global alliance saw combined global revenues hit a record $6.38bn (£4.9bn) in 2019

5 Feb 2020

Image for brexit subdues property tax take

Tax | Brexit subdues property tax take

Brexit had a dampening effect on stamp duty land tax (SDLT) receipts at the end of last year with the figure flatlining at £3.3bn, less than 1% ahead of the tax take recorded in the same quarter in 2018

5 Feb 2020

Image for wales consult social care tax

Tax | Wales to consult on social care tax

The Welsh government is to look more closely at the potential for introducing a tax increase to cover the rising costs of social care

5 Feb 2020