Business &amp; Accountancy Daily

Companies

Image for calls global minimum tax rate spearheaded us

Tax | Calls for global minimum tax rate spearheaded by US

US Treasury chief Janet Yellen is calling for a global corporate tax approach to stop multinationals from profit shifting revenue to offshore locations to reduce tax liability

7 Apr 2021

Business Tax

International Tax

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Business | Grant Thornton revenue hits £471m despite pandemic hit

Grant Thornton UK LLP has reported a slight fall in fee income for year end 2020, with revenues of £471m, down 2.5% from £483m on the previous year as partner profit rose

7 Apr 2021

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Tax | Five things you need to know about IR35

The IR35 changes which came into force on 6 April 2021 are a monumental shift for accounting and payroll teams across the UK. Adam Prince, VP product management, compliance, at Sage explains

7 Apr 2021

Tax | Expat right to vote could have serious tax liabilities

The government is planning to allow more British expats the right to vote in UK elections – but this may come with a ‘tax sting in the tail’, warns tax and advisory firm Blick Rothenberg

7 Apr 2021

Tax | VAT and online marketplaces – will the recent changes combat fraud?

In an attempt to curb VAT fraud via third parties selling on online marketplaces, new rules shift compliance responsibility to platforms, but will this tackle the growing problem? Rachel Clark, barrister at Bright Line Law, examines the legal framework

6 Apr 2021

VAT

Tax Compliance

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Business | Fashion retailer Peacocks rescued from administration

The collapsed fashion retailer Peacocks has been saved from administration after a buyout from a senior executive and with backing from an international investment consortium

6 Apr 2021

Restructuring & Insolvency

Companies

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Tax | Tax cut for employers of veterans introduced

A National Insurance contributions (NICs) holiday for businesses who employ armed forces veterans comes into effect from 6 April and can be backdated

6 Apr 2021

Employment Tax

Tax Compliance

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Business | Home testing kits for covid-19 rolled out

Everyone in England will be able to access two free rapid covid-19 tests a week from 9 April the government has announced

6 Apr 2021

Companies

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Finance | IASB extends IFRS 16 break for covid-19-related rent concessions

The International Accounting Standards Board (IASB) has extended by one year the application period in IFRS 16 Leases to help lessees accounting for covid-19-related rent concessions in light of the pandemic

6 Apr 2021

Finance

Financial Reporting

IFRS

Image for personal allowance rises 6 april tax year

Tax | Personal allowance rises from 6 April tax year

HMRC has confirmed a rise in personal allowances for the new tax year starting 6 April 2021 while the dividends rate is frozen

6 Apr 2021

Personal Tax

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Business | Grimsby accountancy firms sign merger deal

Blow Abbott Chartered Accountants has announced plans to merge with A P Robinson & Co Chartered Accountants to form one larger organisation

6 Apr 2021

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Business | Accountancy firm Ross Brooke joins UHY Hacker Young

Thames Valley accountancy firm Ross Brooke has joined UHY Hacker Young, the national accountancy group, as it expands its presence in the south of England, part of the firm’s strategic expansion plans

6 Apr 2021

Image for ir35 rules change client fee payer and supply chain provider

Tax | IR35 – rules change for client, fee payer and supply chain provider

The rules for IR35 off-payroll working will be overhauled from 6 April moving liability for tax and NICs to employers when hiring the majority of contractors. Nick Duffin, employment tax director at BDO, explains

1 Apr 2021

Employment Tax

Tax Compliance

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Finance | Paying dividends: what you need to know

The adverse impact of coronavirus on some companies’ trading fortunes now means business owners need to watch out before they calculate dividends, as they may be liable for losses should the business subsequently fail. Tyrone Courtman, insolvency partner at RSM explains

1 Apr 2021

Finance

Financial Reporting

Tax | VAT updates: April 2021

In this month’s VAT updates, Graham Elliott, VAT expert examines recent cases on input tax from charity imported services in Wellcome Trust to DIY Housebuilders Scheme claim relating to property development in Long case

1 Apr 2021

VAT

Case Reports

Finance | Legal updates: April 2021

In this month’s legal updates, Sophie Brookes, partner at Gateley, examines the rulings on disguised distribution in SSF Realisations and the definition of a 'manifest error' in Flowgroup

1 Apr 2021

Finance

Law and Regulation

Image for 10 mid sized business furlough claims incorrect

Tax | 10% of mid-sized business furlough claims incorrect

One in 10 (13%) mid-sized businesses who have reviewed their initial furlough claim found it to be incorrect, according to research from Grant Thornton

1 Apr 2021

Finance | Regulator launches inquiries into two wildlife charities

The Charity Commission has opened a statutory inquiry into the Howletts Wild Animal Trust over serious concerns about the charity’s governance and financial management, while it is also examining the Aspinall Trust

1 Apr 2021

Charities

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Business | People in the news: Wilson Wright, Grunberg, Grant Thornton, ICAEW

In this week’s accountancy career moves, partner and manager promotions at Wilson Wright, Grunberg & Co, Hillier Hopkins and Kroll, plus senior management changes at ICAEW

1 Apr 2021

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Business | Johnston Carmichael launches virtual work experience for students

Scottish accountancy firm Johnston Carmichael has launched a virtual workplace challenge for more than 100 students across the country

1 Apr 2021

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Tax | National Living Wage and National Minimum Wage rise from 1 April

Millions of workers in all parts of the UK will receive a pay increase from today as minimum pay rates rise, with the age threshold reduced to 23 year olds

1 Apr 2021