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Image for sophos sale nearly punctured salary sacrifice bike scheme

Tax | Sophos sale nearly punctured by salary sacrifice bike scheme

The sale and delisting of IT cybersecurity giant Sophos was delayed momentarily earlier this week over a last minute glitch over a subsidiary’s cycle to work tax-free scheme

28 Feb 2020

Tax | HMRC arrests five over loan charge fraud

Four men and one woman have been arrested on suspicion of fraud in connection with promoting arrangements designed to avoid paying the loan charge

28 Feb 2020

Tax

Personal Tax

HMRC

Image for strong accountancy jobs market predicted 2020

Business | Strong accountancy jobs market predicted in 2020

Despite an uncertain 2019, recruitment consultants at Morgan McKinley saw a dynamic period in the accountancy and finance jobs market at the end of the year, giving hope for a strong 2020, especially in regulatory areas

28 Feb 2020

Leadership & Management

Image for student loans company trials online overpayment refunds

Tax | Student Loans Company trials online overpayment refunds

The Student Loans Company (SLC) is trialling automatic bank refunds to individuals who have overpaid their student loans, as part of moves to improve its repayment service

28 Feb 2020

| NAO warns MoD of £13bn overspend

The National Audit Office (NAO) has rated the Ministry of Defence’s (MoD’s) equipment plan for the next decade as ‘unaffordable’ and warns the department risks a £13bn overspend

28 Feb 2020

HR | People in the news: Thomas Westcott, EY, RSM, Rolls-Royce

In this week’s accountancy career moves, partners at Thomas Westcott and EY, hires at RSM and UHY Hacker Young and a non-executive director for Rolls-Royce

28 Feb 2020

Business

Careers

Leadership & Management

Business | Capita stamped with Fair Tax Mark

Outsourcer Capita is the largest employer with 63,000 staff to receive certification for tax transparency and compliance on corporation tax

28 Feb 2020

Business

Companies

Accountancy Firms

Image for top 75 trainee interview redington

Business | Top 75 trainee interview: Redington

Zak Jakubowski talks to Kevser Kilinc, finance analyst at financial consulting firm, Redington, about how she gained AAT alongside a sports leadership qualification

28 Feb 2020

Business

Top 75 Surveys

Image for how watertight are partnership agreements

Finance | How watertight are partnership agreements?

When partners are asked to leave their firm, frequently they will find little protection from their partnership agreements, even if they have been a high performer. Daniel Sutherland of law firm Fox Williams gives advice on how to challenge an expulsion decision

27 Feb 2020

Finance

Accounting Standards

Financial Reporting

Image for lack climate change disclosure stalls heathrow expansion

Finance | Lack of climate change disclosure stalls Heathrow expansion

The Court of Appeal has rejected plans to build a third runway at Heathrow airport criticising the government’s failure to include costings on the climate change impact

27 Feb 2020

Business | Aston Martin drives through board changes after £104m loss

Luxury car manufacturer Aston Martin Lagonda has announced plans to ‘reset’ the business, after posting a £104.3m pre-tax loss, with its CFO asked to leave and other board changes

27 Feb 2020

Leadership & Management

Image for ir35 implementation review commits april 2020 start date

Tax | IR35 implementation review commits to April 2020 start date

With weeks to go until the IR35 rules come into force, the government has released the findings of its off-payroll review, with no backtracking on initial plans

27 Feb 2020

Tax | Top 10% earn average £98k as equality gap widens

A change in the way ONS calculates the income of the highest paid using tax data from HMRC has made the wealth gap worse

27 Feb 2020

Finance | NMC Health hit by £258m accounting irregularities

FTSE 100 healthcare provider NMC Health has sacked its CEO and announced its CFO is on sick leave, after the company uncovered undisclosed loans to related parties amounting to $335m (£258m)

27 Feb 2020

Finance | IPSASB consults on revenue and transfer expenses standards

The International Public Sector Accounting Standards Board (IPSASB) is consulting on three inter-connected exposure drafts which are intended to pioneer new approaches to accounting for some of the most significant transactions of public sector entities

27 Feb 2020

Business | Bankrupt jailed over shadow director role

A bankrupt from Altrincham who continued to run an interior design company despite being banned has been jailed for six months after an Insolvency Service investigation found he was acting as a shadow director

27 Feb 2020

Business

Called to Account

Image for sra accounts rules 2019 client money

Finance | SRA Accounts Rules 2019: client money

With the Solicitors Regulation Authority’s new slimmed down client money rules now in force effect, reporting accountants need to demonstrate greater professional judgment when assessing compliance, says Croner-i’s Kate Beeston ACA

26 Feb 2020

Finance

Financial Reporting

Image for eddie stobart books ps11m loss after accounting errors

Finance | Eddie Stobart books £11m loss after accounting errors

Haulage firm Eddie Stobart Logistics has recognised a £169.2m impairment charge in its restated half-year results for the period to May 2019, which saw operating losses of £11.6m

26 Feb 2020

Business | Investment directors’ 11-year ban over missing £11m

Two directors of a property investment scheme, which left over 200 investors owed more than £11m, have been banned for a total of 22 years following an Insolvency Service investigation

26 Feb 2020

Business

Called to Account

Image for accountant loses appeal over ps12m goodwill claim

Tax | Accountant loses appeal over £1.2m goodwill claim

An accountant has been left facing a potential £431,400 tax bill after losing a case at First Tier Tribunal (FTT) over a claim for goodwill on the sale of his business, with HMRC arguing it did not exist

26 Feb 2020

Business | FCA admits website data breach

The Financial Conduct Authority (FCA) has suffered the embarrassment of a second run-in with another regulator after 1,600 individuals had details disclosed online

26 Feb 2020

Business

Companies

Accountancy Firms

Image for consultation opens eu market regulator reforms

| Consultation opens on EU market regulator reforms

The European Commission is consulting on possible reforms to the regulatory framework for investment firms and market operators which would include a single price comparison tool

26 Feb 2020

Tax | TV presenter Eamonn Holmes loses IR35 appeal

Veteran TV presenter Eamonn Holmes has lost a First Tier Tribunal (FTT) appeal regarding his status as a freelancer under IR35 rules, with the judge determining his contract with ITV’s This Morning programme amounted to employment

26 Feb 2020

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Latest news

Tax | Sophos sale nearly punctured by salary sacrifice bike scheme

Tax | HMRC arrests five over loan charge fraud

Business | Strong accountancy jobs market predicted in 2020

Tax | Student Loans Company trials online overpayment refunds

| NAO warns MoD of £13bn overspend

HR | People in the news: Thomas Westcott, EY, RSM, Rolls-Royce

Business | Capita stamped with Fair Tax Mark

Business | Top 75 trainee interview: Redington

Finance | How watertight are partnership agreements?

Finance | Lack of climate change disclosure stalls Heathrow expansion

Business | Aston Martin drives through board changes after £104m loss

Tax | IR35 implementation review commits to April 2020 start date

Tax | Top 10% earn average £98k as equality gap widens

Finance | NMC Health hit by £258m accounting irregularities

Finance | IPSASB consults on revenue and transfer expenses standards

Business | Bankrupt jailed over shadow director role

Finance | SRA Accounts Rules 2019: client money

Finance | Eddie Stobart books £11m loss after accounting errors

Business | Investment directors’ 11-year ban over missing £11m

Tax | Accountant loses appeal over £1.2m goodwill claim

Business | FCA admits website data breach

| Consultation opens on EU market regulator reforms

Tax | TV presenter Eamonn Holmes loses IR35 appeal