Business &amp; Accountancy Daily

Restructuring & Insolvency

VAT

Called to Account

Image for record ps80bn handed out covid support loans

Business | Record £80bn handed out in covid support loans

The government spent £80bn supporting businesses through the covid-19 business support loans, according to the final calculations released by the Treasury

7 Jul 2021

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Business | Government showed ‘unusual interest’ in Greensill over covid loans

Greensill Capital was given £418.5m worth of loans during the pandemic but as the government guarantees 80% of the value of loans made through the covid-19 scheme, if the loans are not repaid, the taxpayer will lose £335m

7 Jul 2021

Image for taxi drivers face tax conditionality test renew licence

Tax | Taxi drivers face tax conditionality test to renew licence

The government is clamping down on tax avoidance by taxi drivers and scrap metal dealers by requiring a tax conditionality test to prove they pay taxes before licences are issued

7 Jul 2021

Personal Tax

Tax Compliance

Image for ey launches neuro diverse centre drive innovation

Business | EY launches neuro-diverse centre to drive innovation

EY has launched a UK neuro-diverse centre of excellence (NCoE) and plans to hire 150 individuals who will work within EY’s integrated client teams across the UK

7 Jul 2021

Finance | FRC sets out plan to support ESG reporting

The lack of a coherent approach to environmental, social and governance (ESG) reporting is putting pressure on company reporters with various different frameworks currently in use, warns the Financial Reporting Council (FRC)

7 Jul 2021

Finance

Financial Reporting

Image for douglas home profits increase despite pandemic

Business | Douglas Home profits increase despite pandemic

Chartered accountancy firm Douglas Home and Company has reported a 4% rise in turnover to £4m for the financial year 2020 to 21 despite the covid-19 pandemic

7 Jul 2021

Image for protecting your business financial failure tips and advice

Finance | Protecting your business from financial failure - tips and advice

As businesses embark on the road to recovery, what challenges do company financial directors need to be most aware of and how can they best prepare and protect themselves and their companies? Natalie Todd, partner and committee member of the London Solicitors Litigation Association (LSLA) explains

6 Jul 2021

Finance

Financial Reporting

Image for drivers support vat cut electric cars

Tax | Drivers support VAT cut for electric cars

Two thirds of drivers say that scrapping VAT from the purchase price would be the most influential policy to help drivers buy an electric vehicle, finds a survey by motoring organisation AA

6 Jul 2021

Personal Tax

VAT

Image for icas calls improvements hmrc service levels

Tax | ICAS calls for improvements to HMRC service levels

Overly complex tax rules and poor service standards need to be addressed to build taxpayer confidence in the tax system, warns ICAS

6 Jul 2021

Business | All covid-19 restrictions removed on 19 July

After 17 months of restrictions, prime minister Boris Johnson has confirmed that the government will go ahead with the easing of phase four restrictions in two weeks

6 Jul 2021

Image for upper tribunal rules favour taxpayer hicbc case

Tax | Upper Tribunal rules in favour of taxpayer in HICBC case

The Upper Tribunal ruled against HMRC deciding that where a taxpayer had not submitted self assessment tax returns, discovery assessments could not be used to assess the taxpayer’s liability to the high income child benefit charge

6 Jul 2021

Tax | Q&A: VAT and the EU Import One Stop Shop (IOSS)

In our regular Q&A series, Croner Taxwise VAT advisor Arti Sonpal explains the compliance issues for exporters including the EU’s Import One Stop Shop (IOSS) scheme

6 Jul 2021

VAT

Tax Compliance

Image for ots recommends banks share client data hmrc

Tax | OTS recommends banks share client data with HMRC

The Office of Tax Simplification (OTS) is recommending that financial institutions should start sharing client information such as account interest with HMRC to speed up the data population process for the new single customer account

6 Jul 2021

Personal Tax

Image for recent tax changes uk property investors need know about

Tax | Recent tax changes UK property investors need to know about

A number of changes to tax rules have added to compliance requirements for property owners and increased tax bills. Andrew Hoban, partner at Allsop, explains

5 Jul 2021

Property Tax

Tax Compliance

Image for ey makes progress audit separation plans

Business | EY makes progress on audit separation plans

As part of its plans for operational separation of its UK audit practice and to improve governance, Big Four firm EY has appointed two independent non-executives and established a new UK Audit Board

5 Jul 2021

Image for supreme court quashes ps86m follower notice

Tax | Supreme Court quashes £8.6m follower notice

The Supreme Court has ruled against HMRC and confirmed the Court of Appeal’s decision to throw out a ‘draconian’ follower notice issued for £8.6m by the tax authority

5 Jul 2021

Finance | Two thirds of listed businesses predict rise in audit fees

Listed businesses are highly sceptical about what the government’s proposed reforms to audit and corporate governance will achieve without a more proportionate approach, according to research by accountancy firm PKF, with widespread concern audit fees will rise

5 Jul 2021

Auditing

Accounting Consultations

Business | Management shake-up at ForrestBrown

ForrestBrown, the R&D tax relief consultancy, has announced that it is making a trio of changes to its senior management team as the sector gears up for a market shake-up

5 Jul 2021

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Business | Eight councils face independent review of financial problems

The government has appointed independent reviewers to undertake assurance reviews into eight councils, following decisions earlier this year to provide financial support to these authorities

5 Jul 2021

Image for 46 smes contemplated closure 2020

Business | 46% of SMEs contemplated closure in 2020

The 2020, 46% of SMEs contemplated closure but that figure dropped to just 1% in 2021 whilst 36% are now planning for growth

5 Jul 2021