Business &amp; Accountancy Daily

Image for ps1m unaccounted expenses sparks ban electrician

Business | £1m unaccounted expenses sparks ban for electrician

A Surrey electrician has been banned from running companies for seven years after failing to explain the legitimacy of close to £1m of expenses taken out of the company bank account

12 Jan 2021

Called to Account

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Business | Covid prompts 21% slump in tax advisory revenues

The impact of Covid-19 has seen the UK’s tax advisory market contract by one fifth (21%), more than double the global level of decline, according to a report by Source Global Research

12 Jan 2021

Accountancy Firms

Image for covid puts 250000 small businesses risk failure

Business | Covid puts 250,000 small businesses at risk of failure

Some 250,000 small businesses are at risk of closure as a result of the pandemic according to the Federation of Small Businesses (FSB), which is calling on the government to provide more support for the sector during the latest national lockdown

12 Jan 2021

Restructuring & Insolvency

Accountancy Firms

Careers

Tax | Q&A: define an SME for R&D purposes

In our regular Q&A series, Croner Taxwise, tax consultant, David Woolley, explains how to define when an SME becomes a large business for research and development (R&D) purposes

12 Jan 2021

Tax | Tax systems that attract the rich

In recent weeks there has been much commentary related to how taxes will need to rise to pay for the cost of borrowing arising as a result of the pandemic. Rachel de Souza, tax partner at RSM, assesses the options

11 Jan 2021

Tax

Personal Tax

International Tax

Image for covid judged reasonable excuse late sa returns

Tax | Covid judged ‘reasonable excuse’ for late SA returns

Taxpayers who fail to submit their self assessment return by the 31 January deadline because of difficulties caused by Covid will be able to claim this as a ‘reasonable excuse’ to overturn a late filing penalty, HMRC has confirmed

11 Jan 2021

Business | Treasury consults on new cryptoassets regulatory regime

The Treasury has kicked off a consultative process on proposals for a new regulatory approach to cryptoassets and stablecoins, with a three-month call for evidence from industry and stakeholders

11 Jan 2021

Business | Deutsche Bank pays $120m to settle bribery charges

Deutsche Bank has agreed to pay $120m (£89m) to resolve bribery charges brought by the Securities and Exchange Commission (SEC) relating to violations of the Foreign Corrupt Practices Act (FCPA)

11 Jan 2021

Business | Pandemic puts 4,000 FS firms at risk

Some 4,000 financial services firms are at risk of failing as a result of the impact of the pandemic on their solvency, analysis by the Financial Conduct Authority (FCA) has shown

11 Jan 2021

Restructuring & Insolvency

Image for kwasi kwarteng appointed beis secretary state

Business | Kwasi Kwarteng appointed BEIS secretary of state

Kwasi Kwarteng has been appointed secretary of state at the Department of Business, Energy and Industrial Strategy (BEIS), he will replace the RT Hon Alok Sharma who served from 2020 - 2021

11 Jan 2021

Careers

Image for 2021 whats store accountants year ahead

Business | 2021: what’s in store for accountants in the year ahead?

After one of the toughest years ever as the covid-19 pandemic wreaked havoc, Zak Jakubowski talks to leading accountants and industry experts about their hopes and predictions for 2021

8 Jan 2021

Accountancy Firms

Business | Called to account: January 2021

In this month’s scandals, convictions and penalties, window cleaning company director disqualified for unaccounted £1.7m, property developed jailed over diverting funds to their account, and suspended prison sentence for bankrupt who avoided inheritance tax windfall

8 Jan 2021

Restructuring & Insolvency

Called to Account

Image for grant thornton faces ps200m legal challenge over patisserie valerie audits

Finance | Grant Thornton faces £200m legal challenge over Patisserie Valerie audits

Grant Thornton is facing a £200m lawsuit brought by the administrators of collapsed café chain Patisserie Valerie, seeking damages in respect of the firm’s audits for the financial periods September 2014 to September 2017

8 Jan 2021

Image for record ps238m money laundering fine

Business | Record £23.8m money laundering fine

A Luton-based money service business (MSB) has been hit with a record £23.8m fine for flouting money laundering regulations

8 Jan 2021

Called to Account

Image for cfos predict post covid home working shift

Business | CFOs predict post-Covid home working shift

CFOs at some of the UK’s biggest companies are predicting a five-fold increase in home working by 2025, along with hikes in the levels of corporate and individual taxation as a result of the pandemic

8 Jan 2021

Business | People in the news: BDO, PwC, NAO

In this week’s accountancy career moves, partner appointments at PwC, 20 partner promotions at BDO, CFO named at John Laing Group, and NAO adds two non-executive members

8 Jan 2021