Business &amp; Accountancy Daily

Called to Account

Image for finance bill 2020 21 legislation and consultations announced

Tax | Finance Bill 2020-21: legislation and consultations announced

On 21 July, the government released draft legislation for this year's Finance Bill, plus details of the consultations first trailed at the Spring Budget, Accountancy Daily has consolidated these announcements with full details below

7 Aug 2020

Business | Chancellors and financiers on peerage list

One of the accountancy profession’s staunchest critics joins two former Conservative Chancellors of the Exchequer and senior figures from the financial services industry on the list of 36 new peers created last month

7 Aug 2020

Careers

Business | FTSE 100 CEO pay flat in 2019

Pay packages for FTSE 100 bosses remained flat this year and are likely to fall as a result of Covid-19, but CEO pay levels remain over 100 times greater than the average UK full-time worker

7 Aug 2020

Image for bame 2020 vincent egunlae associate grant thornton

Business | BAME 2020: Vincent Egunlae, associate, Grant Thornton

In the first of a series, Accountancy Daily speaks with those fighting to improve BAME representation within the accountancy profession. Vincent Egunlae, founder of Grant Thornton’s Ethnicity Group, highlights barriers to the profession, the importance of inclusion and the need for frank discussions

7 Aug 2020

Careers

Business | People in the news: Blick, RSM, KPMG

In this week’s accountancy career moves, CEO appointed at Blick Rothenberg, partner promotion at RSM and EY, and KPMG names their global head of tax and legal services

7 Aug 2020

Image for amazon hikes uk seller fees response digital services tax

Tax | Amazon hikes UK seller fees in response to digital services tax

Online marketplace Amazon is to increase fees for UK sellers next month by 2%, in response to the introduction of the UK’s digital services tax (DST), in a move which is likely to increase costs for small businesses and traders who use the platform

6 Aug 2020

Business | Follow up Covid-19 guidance for pensions administrators

The Pensions Administration Standards Association (PASA) has issued follow up Covid–19 guidance designed to highlight best practice for administrators as they navigate their way out of lockdown and businesses adopt new ways of working

6 Aug 2020

Pensions

Image for new buyer theme parks ticket ride out administration

Business | New buyer is theme park’s ticket to ride out administration

PwC has found a European buyer for a third-generation family-run theme park in Tamworth, which went into administration after experiencing cashflow difficulties, putting 600 jobs at risk

6 Aug 2020

Restructuring & Insolvency

Accountancy Firms

Image for hmrcs let property campaign yield below expectations

Tax | HMRC’s let property campaign yield below expectations

An HMRC campaign targeted at increasing the tax take from properties which are let out is making slow progress, so far producing under a third of the yield expected, and with only a handful of landlords coming forward to make a disclosure, according to analysis by Saffery Champness

6 Aug 2020

Tax | Covid-19: tax-free childcare extended

Tax-free childcare has been extended to 31 October for parents who may have fallen below the minimum income requirement, and critical workers who may have exceeded it

6 Aug 2020

Tax | Offshore bank accounts in HMRC’s sights under DAC 6

Through its disclosure facilities, HMRC learnt more about tax avoidance schemes, but from January 2021 further transparency under the DAC 6 EU directive give it greater firepower over offshore bank accounts, says Harbottle and Lewis’ Gary Ashford CTA

5 Aug 2020

Tax | HMRC and General Electric in $1bn tax dispute

HMRC is seeking to reclaim some $1bn of tax from US industrial giant General Electric (GE), amid claims the company failed to disclose full details of financing arrangements in Australia, and was allegedly using an arbitrage scheme to gain a tax advantage

5 Aug 2020

Tax | HMRC looks at modernising stamp taxes on shares

The tax office has issued a call for evidence on the principles, priorities and design of a new framework for stamp duty and stamp duty reserve tax (SDRT), as a first stage in plans to modernise and digitise the regime for handling stamp taxes on shares

5 Aug 2020

Business | Mid-sized businesses have only nine months’ funding

Most of the UK’s medium-sized companies say they only have sufficient funding to continue trading for the next nine months, although a third say they are starting to recover from the impact of the Covid-19 disruption, according to research by BDO

5 Aug 2020

Accountancy Firms

Image for hmrc appoints holliday tax assurance commissioner

Tax | HMRC appoints Holliday as tax assurance commissioner

Justin Holliday, HMRC’s chief finance officer (CFO), has been named as tax assurance commissioner, replacing Melissa Tatton who is moving to Ofcom from September

5 Aug 2020

Image for dw sports administration exercises bdo

Business | DW Sports administration exercises BDO

BDO business restructuring partners, Graham Newton and Ryan Grant, have been appointed joint administrators of fitness chain Dave Whelan Sports Ltd (DW Sports), which has collapsed putting 1,700 jobs at risk

5 Aug 2020