Business &amp; Accountancy Daily

Restructuring & Insolvency

Image for biomass producer wins case over disputed ps150k vat bill

Tax | Biomass producer wins case over disputed £150k VAT bill

The First Tier Tribunal has thrown out an HMRC claim for underpaid VAT in a case about a northern Ireland wood chip business

3 Jun 2021

VAT

Case Reports

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Business | FCA flags money laundering concerns at cryptoasset businesses

The Financial Conduct Authority (FCA) is extending the end date of the temporary registrations regime (TRR) for existing crypto asset businesses from 9 July 2021 to 31 March 2022

3 Jun 2021

Law & Guidance

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Business | Demand for tax accountants highest in over two years

Hiring for tax accountants across firms in England and Wales has reached record levels with some large firms already posting year-on-year rises in recruitment just five months into 2021

3 Jun 2021

Careers

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Finance | IASB consults on improvements to management commentary

The International Accounting Standards Board (IASB) has launched a consultation on a revised framework for management commentary in accounts which aims to build on the latest developments in narrative reporting to focus on the information that investors need and ways to present it more clearly

3 Jun 2021

Finance

IFRS

Audit Consultations

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Tax | Fourth SEISS grant payouts total £4.7bn

As the pandemic continues to affect the self employed the latest HMRC figures show that a total of £4.7bn has been paid out in grants for the fourth self employment income support scheme (SEISS)

3 Jun 2021

Tax | Tech giants underpaid £1.5bn in UK corporation tax

Eight large tech companies in the UK made an estimated £9.6bn in profit from sales to UK customers in 2019, but paid only £297m in corporation tax

3 Jun 2021

Business Tax

International Tax

2 Jun 2021

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Finance | Preparing financial statements under FRS 102 and FRS 105

Steve Collings FMAAT FCCA examines the overall objective of financial statements, the basis on which they must be prepared and the measurement bases that can be used, including when offsetting is acceptable in FRS 102 and FRS 105

2 Jun 2021

Finance

Financial Reporting

UK GAAP

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Business | Hybrid work model will erode organisational culture

Hybrid working is leading to a ‘culture crisis’ with four out of 10 auditors believing that the move is damaging company culture and affecting levels of collaboration

2 Jun 2021

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Tax | Global 21% corporate tax rate would raise £15bn in tax

Supporting the US tax plan for a global minimum rate of corporation tax could raise nearly £15bn and enable the UK to invest in the NHS and fund post-covid economic growth, claims IPPR

2 Jun 2021

Business Tax

International Tax

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Tax | Scams warning for tax credits claimants

HMRC is warning that a surge in scams targeting tax credits claimants is increasing the risk of fraud and theft, as the tax authority reports more than one million referrals of suspicious contact in the last year

2 Jun 2021

Personal Tax

HMRC

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Tax | EU agrees deal for corporate tax transparency

Negotiators for the European parliament and council negotiators have agreed rules for greater tax transparency for multinational businesses

2 Jun 2021

Finance | FRS 102 & 105: Property, plant and equipment - CPD module

In this month's exclusive Accountancy Daily CPD module, we focus on the accounting treatment of property, plant and equipment under FRS 102 and FRS 105

2 Jun 2021

Tax | Filing deadlines: June 2021

In our handy guide to tax filing deadlines, we provide an at-a-glance guide to key dates from the deadline for opting into the VAT deferral new payment scheme and corporation tax first quarterly instalment payment

2 Jun 2021

HMRC

Tax Compliance

Image for furlough change means employers contribute 10 1 july

Tax | Furlough change means employers contribute 10% from 1 July

From July employers will have to pay 10% of staff wages to anyone on furlough as the government reduces its level of support for the Coronavirus Job Retention Scheme

2 Jun 2021

1 Jun 2021

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Tax | Q&A: tax and electric car charging

In our regular Q&A series, Croner Taxwise VAT adviser Rachel Clark, examines the tax compliance issues with electric car charging for business vehicles

1 Jun 2021

Business Tax

VAT

Image for icaew and acca criticise hmrcs poor performance

Tax | ICAEW and ACCA criticise HMRC’s ‘poor’ performance

ICAEW and the Association for Chartered Certified Accountants (ACCA) is calling on HMRC to improve its performance and be more responsive to complaints from taxpayers and less ‘erratic’ when dealing with technical questions

1 Jun 2021

Business | Eviction ban lifted so bailiffs can intervene

The government ban on eviction notices has been lifted allowing landlords to serve notice on tenants who have not paid rent and can now call in bailiffs

1 Jun 2021

Finance | Legal updates: June 2021

In this month’s legal updates, Sophie Brookes, partner at Gateley, examines the ruling in Virgin Active Holdings dispute over restructuring plans, buyer's notice of warranty claim in MDW Holdings and post-Brexit changes to UK market abuse regime in Financial Services Act 2021

1 Jun 2021

Tax | VAT updates: June 2021

In this month’s round-up of VAT cases, Graham Elliott head of City & Cambridge Consultancy, examines the decisions in Prudential Insurance, R K Fuels and zero rating at stake in WM Morrisons’ appeal

1 Jun 2021

VAT

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Business | Azets shakes up top team with Horne appointment

Chris Horne has taken on the top job at Azets, the fast growing accountancy group, replacing CEO Dawn Marriott who will remain on the board

1 Jun 2021

Leadership & Management

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Business | Rees Pollock becomes Blick Rothenberg

Rees Pollock has officially completed the transition to become the financial services team at tax and advisory firm Blick Rothenberg, and the Rees Pollock name will now longer be used

1 Jun 2021

Careers

Leadership & Management

Image for silentnight tribunal hearing set restart over pension issues

Finance | Silentnight tribunal hearing set to restart over pension issues

The Financial Reporting Council (FRC) has confirmed the dates for the next phase of a disciplinary tribunal hearing of a formal complaint under the Accountancy Scheme in respect of KPMG LLP and ICAEW member David Costley-Wood over pensions advice given to bed and mattress specialist, Silentnight

1 Jun 2021

Pensions

Business | Jobs warning as owner managed businesses struggle

Owner managed businesses are struggling to come out of lockdown with 11% likely to be making redundancies in the next three to six months a report finds

1 Jun 2021

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Business | Deloitte volunteers clock up over 3,000 hours for Futures Month

Deloitte is marking Volunteers’ Week with the conclusion of a month-long initiative, Futures Month, that saw its people volunteer over 3,000 hours - the equivalent to 19 months of pro bono work - as part of the firm’s 5 Million Futures social impact goal

1 Jun 2021