Business &amp; Accountancy Daily

Image for covid 19 furlough extended parents statutory leave

Business | Covid-19: furlough extended for parents on statutory leave

Parents on statutory maternity and paternity leave who return to work in the coming months will be eligible for the government’s furlough scheme even after the 10 June cut-off date, the Treasury has announced

10 Jun 2020

Careers

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Business | Prince Andrew’s charity made unauthorised trustee payments

The Charity Commission has intervened at a charity set up by Prince Andrew, over financial concerns relating to a £355,297 payment to a trustee

10 Jun 2020

Charities

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Business | Richard Hughes named new OBR chair

Richard Hughes, an economist who has worked for the Treasury, the International Monetary Fund (IMF) and an independent think tank, is set to take over from Robert Chote as the new chair of the Office for Budget Responsibility (OBR)

10 Jun 2020

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Business | Boosting payroll professionalism

As a new body launches for the payroll industry, Chiene + Tait’s Neil Cameron highlights the increasing importance of standards in a profession at the centre of implementing government policy during the Covid-19 crisis

9 Jun 2020

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Tax | Q&A: temporary OTT notification extension period

In our regular Q&A series from Croner Taxwise, VAT advice consultant, Sally Atkins explains the background of HMRC’s extension to the notification period for notifying an Option to Tax (OTT)

9 Jun 2020

Business | FTSE 100 gender pay gap progress stalls

Slow progress on reducing the gender pay gap at the UK’s biggest companies means it will be almost 200 years before there is equal pay in the FTSE 100, while reporting and employment changes during the Covid-19 pandemic will make future trend analysis more complex

9 Jun 2020

Careers

Image for accounting vat extension construction businesses

Tax | Accounting for VAT extension for construction businesses

The Chartered Institute of Taxation (CIOT) welcomes that construction businesses will get an extra five months to prepare for a major change in accounting for VAT, because of the impact of Covid-19

9 Jun 2020

Business | Action urged on £107bn ‘unsustainable’ business debt

By March next year, UK businesses are likely to face between £97bn to £107bn of unsustainable debt, around half of it owed by SMES, according to research from an industry taskforce which says failure to reduce this debt burden will risk their recovery from the Covid-19 crisis

9 Jun 2020

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Business | Local councils urged to tackle procurement fraud

The Ministry of Housing, Communities and Local Government (MHCLG) has published advice for councils in England on preventing fraud during the procurement process, after almost a quarter reported incidence of losses

9 Jun 2020

Image for international reporting annual cohorts ifrs 17

Finance | International reporting: annual cohorts in IFRS 17

As the IASB returns to a new normal, Jeroen Van Doorsselaere reviews the ongoing annual cohorts debate in the insurance contracts standard and underlines renewed focus on the importance of management commentary

8 Jun 2020

Finance | Deloitte drops Lookers audit

Troubled car dealership Lookers has announced a further delay in publication of its 2019 results, already deferred to the end of this month, and is seeking a new auditor after Deloitte revealed its intention to resign after 14 years in the role

8 Jun 2020

Finance | FRC ends Tesco probe with no disciplinary actions

The Financial Reporting Council (FRC) has closed its five-year investigation into accounting irregularities at Tesco, and has dropped plans to take any further disciplinary action regarding accountants working at the supermarket chain, having also earlier halted its probes into auditor PwC and ICAEW members

8 Jun 2020

Business | Covid-19: Job Retention Scheme cut-off in two days

Employers planning to use the Coronavirus Job Retention Scheme (CJRS) from 1 July 2020 must have their staff furloughed by Wednesday 10 June (in two days) to be eligible for ‘mark 2’ of the scheme, warns ATT

8 Jun 2020

Careers

Image for charities seek social investment tax relief extension

Business | Charities seek social investment tax relief extension

Social enterprises and charities gearing up to help combat the impact of Covid-19 and support economic recovery are calling on the government to extend social investment tax relief (SITR) for two years, in order to help them fundraise

8 Jun 2020