Business &amp; Accountancy Daily

Image for corporation tax trading losses temporary three year carry back

Tax | Corporation tax trading losses: temporary three-year carry-back

As part of measures to support businesses during the pandemic, the Chancellor announced a temporary three-year carry back relief on corporation tax trading losses. Paul Davies FCA, tax writer at Croner-i, explains

16 Jun 2021

Business Tax

Image for payroll fraudster ordered pay ps17m

Business | Payroll fraudster ordered to pay £1.7m

A tax consultant who stole £6.9m from construction workers’ pay has been ordered to repay £1.7m or face four more years in prison

16 Jun 2021

Called to Account

Image for frc head predicts doubling staff meet arga demands

| FRC head predicts doubling of staff to meet ARGA demands

Plans to create a tougher audit regulatory body by 2024 would see the number of staff at the new regulator doubling to ensure adequate oversight of the audit market once audit reforms are introduced

16 Jun 2021

Corporate Governance

Image for finance act 2021 given royal assent

Tax | Finance Act 2021 given royal assent

The Finance Act 2021 has been given royal assent and brings in measures first announced in Budget 2021 including the three-year loss carry back and 130% super deduction tax relief

16 Jun 2021

Law and Regulation

Image for new accountancy degree launched queen mary university

Business | New accountancy degree launched at Queen Mary University

Queen Mary University of London has launched a new chartered accountancy course which includes an ‘earn while you learn’ work placement with Big Four firm, PwC

16 Jun 2021

Careers

Image for penalties late submissions ers rise

Tax | Penalties for late submissions of ERS on the rise

Businesses need to remember to file their ERS (employment related securities) submissions on time as the number of penalties for late filings has risen by 15% since 2018

16 Jun 2021

Employment Tax

Image for hmrc loses case over asylum seekers claiming child tax credits

Tax | HMRC loses case over asylum seekers claiming child tax credits

The Scottish Court of Session has ruled in favour of two asylum seekers in their claim to gain child tax credits dating back six years

16 Jun 2021

Tax | Q&A: VAT recovery on premises for an exempt business

In our regular Q&A series, Paul Knott, VAT adviser at Croner Taxwise considers the VAT exemption rules when converting a commercial building to alternative use

15 Jun 2021

VAT

Image for pwc plans recruit 100000 worldwide next five years

Business | PwC plans to recruit 100,000 worldwide in the next five years

The Big Four firm is set to invest $12bn (£8.5bn) worldwide with $1.2bn (£854m) in the UK to create jobs over the next five years focusing on Environmental, Social, and Governance (ESG) and tech

15 Jun 2021

Image for it contractor loses second appeal ps70k ir35 tax case

Tax | IT contractor loses second appeal in £70k IR35 tax case

A Nationwide IT contractor has lost his second appeal against a £70,000 tax bill for work conducted at the bank and building society

15 Jun 2021

Tax | HMRC help towards cost of children’s summer holiday activities

Working families can use tax-free childcare to help pay for their childcare costs over the summer, with the government topping up charges by 20%, but accounts must be renewed every three months

15 Jun 2021

Personal Tax

HMRC

Image for premier league clubs report largest pre tax loss

Business | Premier League clubs report largest pre-tax loss

Premier League clubs generated £4.5bn of revenue during the 2019/20 financial year, according to analysis from Deloitte’s Sports Business Group, a decline of 13% compared to 2018/19 (£5.2bn)

15 Jun 2021

Image for hmrc clarifies vat liability day care services

Tax | HMRC clarifies VAT liability for day care services

HMRC has published details of its interpretation of the rules on the VAT liability of day care services provided by private bodies to vulnerable adults in England after the rejection of a Supreme Court appeal

15 Jun 2021

Business | Final lockdown release delayed to 19 July

The prime minister has delayed the ending of lockdown measures for four weeks due to concerns over the spread of the Delta variant of covid-19, but confirmed that weddings can go ahead

15 Jun 2021

Image for p11d tips covid 19 and benefits kind

Tax | P11D tips – Covid-19 and benefits in kind

The annual P11D submissions for benefits in kind and expenses will be affected by certain Covid-19 measures. Michael Hepburn, senior manager – employment tax at BDO, explains the key issues to consider

14 Jun 2021

Employment Tax

Image for hmrc officials recognised queens birthday honours list

Tax | HMRC officials recognised in Queen’s Birthday Honours list

Seven HMRC officials and four from the Treasury have been named on the Queen’s Birthday Honours List

14 Jun 2021

Leadership & Management

Image for azets create 650 uk jobs next year

Business | Azets to create 650 UK jobs in the next year

Top 10 accountancy firm Azets plans a national recruitment drive with around 650 new roles to be created over the next 12 months

14 Jun 2021

Careers

Image for hmrc warning tax avoidance using unfunded pension schemes

Tax | HMRC warning on tax avoidance using unfunded pension schemes

HMRC has issued Spotlight 58 setting out why disguised remuneration using unfunded pension arrangements are considered as tax avoidance with tough penalties for promoters

14 Jun 2021

Personal Tax

Image for toshiba audit chair quits over governance issues

Business | Toshiba audit chair quits over governance issues

Two Toshiba board directors have stepped down over governance issues following an investigation into the shareholder directors vote last year

14 Jun 2021

Leadership & Management

Image for hmrc mulls plans north east hub office

Tax | HMRC mulls plans for North East hub office

HMRC is considering moving to a new north east office in the Newcastle area which will accommodate around 6,500 workers

14 Jun 2021

HMRC

Image for tcfd consults improvements climate related disclosures

Finance | TCFD consults on improvements to climate related disclosures

The Task Force on Climate-Related Financial Disclosures (TCFD) is consulting on new guidance on climate-related metrics, targets and transition plans

14 Jun 2021

Finance

Audit Consultations

Image for pwc guarantees places school and college leaver intake

Business | PwC guarantees places for school and college leaver intake

PwC UK has told candidates with offers to join its school and college leaver programme that their places are guaranteed even if they do not achieve the grades previously required

14 Jun 2021