Business & Accountancy Daily | Business & Accountancy Daily

Latest news

Image for asset freezing magnitsky law bold step human rights abuse fight

Business | Asset freezing Magnitsky law bold step in human rights abuse fight

As the UK moves into a new era of sanctions and asset freezes, Stephen Baker, senior partner at Baker & Partners, says success depends on international cooperation to trace assets

22 Jul 2020

Business

Law & Guidance

Image for finance bill 2020 21 tackling promoters and enablers tax avoidance schemes

Tax | Finance Bill 2020-21: tackling promoters and enablers of tax avoidance schemes

The government has signalled its intention to crack down harder on the promotors and enablers of tax avoidance schemes, with proposals for wider information powers for HMRC and tougher sanctions included in Finance Bill 2020-21

22 Jul 2020

Tax | Finance Bill 2020-21: New SDLT rates for non-UK residents

HMRC has issued draft legislation for 2% additional stamp duty land tax (SDLT) for non-UK resident purchasers of residential property, set to be introduced from 1 April 2021 and forecast to raise £250m over five years

22 Jul 2020

Tax

Property Tax

Image for finance bill 2020 21 making tax digital be extended

Tax | Finance Bill 2020-21: Making Tax Digital to be extended

HMRC’s flagship Making Tax Digital online quarterly reporting is to be significantly extended, with legislation in the Finance Bill 2020-21 bringing all VAT-registered businesses into the system from April 2022, and plans to include income tax self-assessment from April 2023

22 Jul 2020

Finance | Social distancing increases drive to digital AML

With face-to-face meetings not an option currently, accountants need to look at other ways to verify client identities under money laundering regulations, says SmartSearch’s Martin Cheek

21 Jul 2020

Finance | Companies need to enhance Covid-19 reporting

Companies need to do more to explain the impact of Covid-19 on their performance, according to the first Financial Reporting Council (FRC) thematic review of company reporting since the onset of the pandemic

21 Jul 2020

Tax | Treasury moves to regulate cryptoasset promotions

The Treasury is consulting on plans for the Financial Conduct Authority (FCA) to regulate the promotion of certain types of cryptoassets for the first time, and to strengthen its role in approving financial promotions by unauthorised firms

21 Jul 2020

Tax | Q&A: inheritance tax on a deed of variation

In our regular Q&A series from Croner Taxwise, tax consultant, David Woolley explores the inheritance tax implications of applying a deed of variation

21 Jul 2020

Finance | FTSE 250: firms in fees bonanza amid regulatory scrutiny

The long-expected hike in audit fees has finally come to pass, with FTSE 250 companies now paying on average 14% more this year to their auditors than last year, while challenger firms are beginning to make inroads, reports Philip Smith

20 Jul 2020

| ESMA to probe German regulators over Wirecard

The European Securities and Markets Authority (ESMA) has announced a fast-track review of the German financial reporting system, in response to Wirecard’s insolvency following the discovery of a €1.9bn (£1.7bn) hole in its accounts

20 Jul 2020

Audit Regulations

Business

Companies

Restructuring & Insolvency

Image for frc reports significant progress transformation

Finance | FRC reports ‘significant progress’ on transformation

The Financial Reporting Council (FRC) has had a year of ‘significant progress’ in implementing its transformation into a new regulatory body, but has been hampered by the lack of legislation and recruitment challenges, according to its latest annual report and accounts

20 Jul 2020