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Image for domestic vat reverse charge effective 1 march

Tax | Domestic VAT reverse charge effective 1 March

Ellen Main-Jeffrey, head of VAT services at accountancy firm Burgis & Bullock assesses the implications of new domestic VAT reverse charge

15 Feb 2021

Tax

VAT

Tax Compliance

Image for unresolved bank complaints service smes goes live

Business | Unresolved bank complaints service for SMEs goes live

Small businesses will be able to use a new, free and independent service to help them resolve disputes with their banks, in a boost for SMEs struggling in the current crisis

15 Feb 2021

Business

Companies

Accountancy Firms

Image for government invests ps10m green finance initiative

Finance | Government invests £10m in green finance initiative

Leeds and London will be home to a new UK centre for global green finance and investment, energy minister Anne-Marie Trevelyan has announced

15 Feb 2021

Business | FRC sets out 15% funding hike as regulator plans for ARGA

The Financial Reporting Council (FRC) has published for consultation its draft 2021/22 Strategy, Plan & Budget which reflects its efforts to build the enhanced capacity and capability necessary to transform into the new Audit, Reporting and Governance Authority (ARGA)

15 Feb 2021

Business

Accountancy Firms

Image for iasb plans extension ifrs 16 support lessees

Finance | IASB plans extension of IFRS 16 support for lessees

The International Accounting Standards Board (IASB) has published a two-week consultation on a proposal to extend by one year the application period of the amendment to IFRS 16 Leases issued in 2020 to help lessees accounting for covid-19-related rent concessions

15 Feb 2021

Finance

IFRS

Audit Consultations

Image for ban caterer who failed pay ps500k taxes

Business | Ban for caterer who failed to pay £500k in taxes

A caterer has been handed a seven-year disqualification after deliberately avoiding paying £500,000 in taxes

15 Feb 2021

Business

Called to Account

Image for kpmg confirms resignation bill michael chair

Business | KPMG confirms resignation of Bill Michael as chair

KPMG UK confirms that Bill Michael, its chair and senior partner, has resigned and will leave the firm at the end of this month

12 Feb 2021

Business

Accountancy Firms

Leadership & Management

Image for tax efficient side valentines day

Tax | The tax efficient side of Valentine’s day

Valentine’s Day approaches, but with romantic gestures likely limited to takeaways and socially distanced walks, tax and advisory firm Blick Rothenberg have looked at the at the tax efficient side of love

12 Feb 2021

Tax

Personal Tax

Tax Planning

Image for cash reserves unsustainably low 600000 companies

Business | Cash reserves unsustainably low at 600,000 companies

More than half a million UK employers are at risk of collapse in the spring as cash reserves fall perilously low, finds IPPR

12 Feb 2021

Business

Companies

Restructuring & Insolvency

Image for people news fortus mercer hole grant thornton frp

Business | People in the news: Fortus, Mercer & Hole, Grant Thornton, FRP

In this week’s accountancy career moves, hires and promotions at Mercer & Hole, Grant Thornton, FRP and Quantuma, and board director for Fair Tax Mark for starters

12 Feb 2021

Finance | Regulator given tougher powers in pensions shake-up

The biggest overhaul of UK pensions for decades will see the introduction of civil penalties of up to £1m as the Pension Schemes Act 2021 is passed

12 Feb 2021

Business

Pensions

Image for government expands workplace covid 19 testing programme

Business | Government expands workplace covid-19 testing programme

Workplace covid-19 testing will be extended so that smaller businesses with minimum 50 staff will be able to sign up to the scheme for the first time

12 Feb 2021

Business

Companies

Accountancy Firms

Image for grants help smes new importing or exporting

Business | Grants to help SMEs new to importing or exporting

The government has launched the SME Brexit Support Fund giving up to £2,000 to help with training or professional advice on exporting for businesses with up to 500 employees

12 Feb 2021

Business

Companies

Image for pggb and netflix seek new accountancy trainees

Business | PGGB and Netflix seek new accountancy trainees

The Production Guild of Great Britain (PGGB) and Netflix are seeking eight new recruits for the latest intake of the Netflix assistant production accountant training scheme (NAPATS)

12 Feb 2021

Business

Companies

Careers

Image for international reporting subsidiary accounts and banking standards

Finance | International reporting: subsidiary accounts and banking standards

Jeroen Van Doorsselaere assesses the latest developments from the International Accounting Standards Board, including updates on how the banking sector has responded to the pandemic and the use of primary financial statements

11 Feb 2021

Finance

Financial Reporting

IFRS

Image for kpmg chair steps aside over lockdown meeting

Business | KPMG chair steps aside over lockdown meeting

Days after a meeting with members of the KPMG consulting team where staff were told to stop moaning about the latest lockdown, KPMG boss steps aside

11 Feb 2021

Business

Accountancy Firms

Careers

Leadership & Management

Image for financial services sector pays record ps756bn taxes

Tax | Financial services sector pays record £75.6bn in taxes

The UK’s financial services sector contributed a record £75.6bn in tax in the year to March 2020, according to a new report published by the City of London Corporation

11 Feb 2021

Tax

Business Tax

Employment Tax

Image for mazars reports 78 hike global fee income

Business | Mazars reports 7.8% hike in global fee income

Global accounting network Mazars has reported a significant fee income increase of 7.8% to €1.9bn (£1.6bn) in 2019/20 as partner profits drop

11 Feb 2021

Business

Accountancy Firms

Careers

Leadership & Management

Image for property developers face tax charge offset cladding remediation

Tax | Property developers face tax charge to offset cladding remediation

The Housing Secretary has announced plans to introduce a new tax, the ‘Gateway 2’ developer levy to offset some of the costs of replacing dangerous cladding on high-rise buildings

11 Feb 2021

Tax

Business Tax

Property Tax

Image for esfa updates budget forecast requirements academy trusts

Finance | ESFA updates budget forecast requirements for academy trusts

The Education and Skills Funding Agency has updated its guidance for academy trusts on submitting their budget forecast returns (BFR) this year

11 Feb 2021

Accounting Standards

Financial Reporting

Law and Regulation

Navigate

Tax Services

Latest news

Tax | Domestic VAT reverse charge effective 1 March

Business | Unresolved bank complaints service for SMEs goes live

Finance | Government invests £10m in green finance initiative

Business | FRC sets out 15% funding hike as regulator plans for ARGA

Finance | IASB plans extension of IFRS 16 support for lessees

Business | Ban for caterer who failed to pay £500k in taxes

Business | KPMG confirms resignation of Bill Michael as chair

Tax | The tax efficient side of Valentine’s day

Business | Cash reserves unsustainably low at 600,000 companies

Business | People in the news: Fortus, Mercer & Hole, Grant Thornton, FRP

Finance | Regulator given tougher powers in pensions shake-up

Business | Government expands workplace covid-19 testing programme

Business | Grants to help SMEs new to importing or exporting

Business | PGGB and Netflix seek new accountancy trainees

Finance | International reporting: subsidiary accounts and banking standards

Business | KPMG chair steps aside over lockdown meeting

Tax | Financial services sector pays record £75.6bn in taxes

Business | Mazars reports 7.8% hike in global fee income

Tax | Property developers face tax charge to offset cladding remediation

Finance | ESFA updates budget forecast requirements for academy trusts