Business &amp; Accountancy Daily

Restructuring & Insolvency

Business | Cogital Group to re-brand as Azets

Big Four challenger Cogital Group is to re-brand as Azets, the group’s largest established brand

3 Sep 2020

Image for herbalife nutrition fined 123m over corrupt payments

Business | Herbalife Nutrition fined $123m over corrupt payments

Global supplement and weight management company Herbalife Nutrition Ltd has been ordered to pay over $123m (£91m) in fines and penalties for accounting violations, including the payment of bribes, following two regulatory actions in the US

3 Sep 2020

Called to Account

Image for warning remuneration trust tax avoidance schemes

Tax | Warning on remuneration trust tax avoidance schemes

HMRC has warned that using remuneration trusts to replace income with loans and other forms of credit as a way of paying company directors is a form of tax avoidance

3 Sep 2020

Tax | Payments to tax informants up 63%

Payments to informants have jumped 63% in a year as HMRC seeks to crack down on tax evasion and boost public finances, according to analysis by RPC

3 Sep 2020

Tax | Reforms to public sector VAT refund scheme

The Treasury is seeking views on proposals for a major reform of the current VAT refund scheme for public bodies, in order to make it simpler to operate and improve value for money in the delivery of services

3 Sep 2020

Tax | Case: Upper Tribunal confirms £1m VAT bill for essay-writing provider

RSM’s Scott Harwood reviews a £1m VAT case that centred on whether the company was the provider of a service or merely acted as an agent for other service providers

2 Sep 2020

Business | £2bn ‘Kickstart’ scheme to tackle youth unemployment

The Treasury has launched a £2bn ‘Kickstart’ scheme designed to address post-Covid youth unemployment by creating government-subsidised jobs across the UK

2 Sep 2020

Careers

Leadership & Management

Image for tilney and smith williamson complete merger

Business | Tilney and Smith & Williamson complete merger

Leading wealth manager Tilney and top 10 fund management and accounting firm Smith & Williamson complete merger with combined assets of over £47bn - a deal which was extended five months by Covid-19

2 Sep 2020

Image for haines watts tops ps100m revenue

Finance | Haines Watts tops £100m in revenue

Top twenty firm Haines Watts has broken the £100m barrier, recording a 11% increase in revenues for the latest financial year, largely due to its acquisitive ‘buy and build’ strategy

2 Sep 2020

Business | No return to pre-Covid economy before 2023

The UK economy is set to contract by 10.3% this year and is unlikely to reach its pre-Covid level until early 2023, according to KPMG’s forecasts on the impact of the pandemic

2 Sep 2020

Business | Companies House bank details have changed

All customers who make payments by bank transfer (BACS) will need to use the new bank account details from 1 September 2020

2 Sep 2020

Tax | VAT updates: August 2020

In this month’s VAT updates, Graham Elliott reviews uncertainty in EU distance selling ruling, the importance of checking customers’ residency, rent variations and electronic literature

1 Sep 2020

Business | Legal updates: September 2020

In this month’s round up of legal news, Gateley Legal’s Sophie Brookes considers the importance of worked examples in commercial contracts, tax impact of ‘gross-up’ clauses and members’ duties to an LLP

1 Sep 2020

Law & Guidance

Image for grant thornton loses appeal over ps226m damages

Finance | Grant Thornton loses appeal over £22.6m damages

The Court of Appeal has dismissed an attempt by Grant Thornton to overturn a record £22.6m claim for damages brought by former client AssetCo over the firm’s failure to spot a fraud at the AIM-listed company, which nearly collapsed as a result of an accounting scandal

1 Sep 2020

Auditing

Audit Regulations

Image for aid charity struck over financial failings

Business | Aid charity struck off over financial failings

A London-based aid charity has been removed from the register and trustees disqualified after two statutory inquiries found it could not account for around £2.8m worth of goods shipped to Syria, among a catalogue of other financial concerns

1 Sep 2020