Business &amp; Accountancy Daily

Image for four arrests multi million phone scam raids

Business | Four arrests in multi-million phone scam raids

Two men and two women have been arrested as part of an investigation into a suspected multi-million pound phone scam targeting UK taxpayers

30 Jul 2020

Called to Account

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Finance | Aston Martin’s accounting error adds £15.3m to losses

Luxury car manufacturer Aston Martin has revealed that an accounting error means the sports car specialist understated its 2019 losses by £15.3m

30 Jul 2020

Business | Covid-19: changes to small business loan rules

More small businesses are set to benefit from loans of up to £5m under the coronavirus business interruption loan scheme (CBILS) following changes to state aid rules, as a result of government and industry lobbying

30 Jul 2020

Image for calls finance firms protect vulnerable consumers

Business | Calls for finance firms to protect vulnerable consumers

The Financial Conduct Authority (FCA) is calling for finance firms to do more to protect vulnerable consumers and ensure they are receiving positive outcomes

30 Jul 2020

Image for consultation possible new carbon emissions tax

Tax | Consultation on possible new carbon emissions tax

The government is consulting on the operation of the new carbon emissions tax that could be introduced after the end of the Brexit transition period, in the event no linked UK Emissions Trading System (UK ETS) is agreed with the EU

30 Jul 2020

Tax | Complex admin requirements of temporary VAT rate cut

With some businesses now facing three or even four different VAT rates, Crowe’s Robert Marchant unpicks the implications of the temporary reduction, assessing the impact of further tax compliance for the hospitality and tourism industries

29 Jul 2020

Tax | HMRC wins IR35 appeal at Upper Tribunal

HMRC has won a significant Upper Tribunal appeal over the use of personal services companies (PSCs) by broadcasters, with the overturning of a previous ruling on the tax status of radio presenter and comedy writer Paul Hawksbee under IR35 regulations

29 Jul 2020

Business | Eat Out to Help Out scheme launches next week

More than 53,000 outlets across the UK have so far signed up to the government’s Eat Out to Help Out scheme, which launches next week and is designed to boost the food and drink sector, which has been badly hit by the coronavirus downturn

29 Jul 2020

Image for frc fines bdo ps200000 over insurance audit failings

Finance | FRC fines BDO £200,000 over insurance audit failings

BDO has been fined £200,000 and sanctioned by the Financial Reporting Council (FRC) for lapses in its auditing of insurer AmTrust Europe Ltd (AEL), which included failing to report its evaluation of independent experts’ assessments

29 Jul 2020

Auditing

Corporate Governance

Image for treasury consults pensions tax relief administration

Tax | Treasury consults on pensions tax relief administration

The Treasury is consulting on how to plug a loophole in the way pensions tax relief operates, which means around 1.75m lower paid workers saving in a pension may end up in differing financial positions depending on how their scheme is administered

29 Jul 2020

Tax | Fullelove: post-pandemic tax probe needs greater public debate

Following the launch of the Treasury committee’s enquiry into the tax system after coronavirus, Croner-i expert Glyn Fullelove sets out the issues, from wealth and digital taxes to the nature of employment and the three-person problem

29 Jul 2020

Business | FCA bans discretionary commission in car finance

The Financial Conduct Authority (FCA) has confirmed it is to ban the use of discretionary commission models in the car finance market, saying this will save customers £165m a year

28 Jul 2020

Tax | HMRC sets up scheme for loan charge refunds

HMRC has published guidance on how it will administer the disguised remuneration repayment scheme, offering refunds to taxpayers who made voluntary payments of income tax or National Insurance prior to a change in the rules regarding the loan charge

28 Jul 2020

Business | Consultation opens on new economic crime levy

The government is consulting on plans to introduce an economic crime levy, designed to raise £100m a year to boost anti money laundering (AML) capability, to be paid for by the AML-regulated sector

28 Jul 2020

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Business | KPMG serves up pre-pack to French dining chain

Will Wright and Steve Absolom, partners from KPMG UK’s restructuring practice, have been appointed joint administrators of Le Bistrot Pierre Ltd, and have arranged a pre-pack of the restaurant chain, saving over 600 jobs

28 Jul 2020