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Image for international reporting revising management commentary

Finance | International reporting: revising management commentary

The latest exposure draft from the IASB focuses on updates to the management commentary to meet the needs of investors. Jeroen Van Doorsselaere, vice president of value propositions at Wolters Kluwer Finance, Risk & Reporting, examines the options

15 Jul 2021

Finance

Financial Reporting

Audit Consultations

Image for hmrc offers 227 staff voluntary redundancy amid office closures

Tax | HMRC offers 227 staff voluntary redundancy amid office closures

Nearly 230 HMRC staff have been offered voluntary redundancy as the government department’s new hubs programme is completed leading to the closure of offices across the country

15 Jul 2021

Tax | Directors cannot use trusts as loan pots, says GAAR panel

The General Anti Abuse Rule (GAAR) advisory panel has issued a ruling setting out its views on abuse of employee reward arrangements through trusts where loans are used to avoid income tax

15 Jul 2021

Tax | Food strategy calls for £3bn sugar and salt tax

Ministers are being urged to levy a £3bn sugar and salt tax to break the UK’s addiction to junk food and to help tackle climate change

15 Jul 2021

Tax

Business Tax

Image for rank group wins ps80m vat return case

Tax | Rank Group wins £80m VAT return case

The First Tier Tribunal ruled against HMRC and in favour of Rank Group plc on its claim to be refunded an estimated £80m of VAT paid on slot machine income between 2006 and 2013

15 Jul 2021

Tax

VAT

Case Reports

Image for ecb project assess launch digital euro

Business | ECB project to assess launch of digital euro

The European Central Bank (ECB) is considering launching a digital euro and has started an in-depth analysis of the benefits, stating it would not compete with bitcoin

15 Jul 2021

Business

Companies

Image for tiedemann acquires holbein partners llp

Business | Tiedemann acquires Holbein Partners LLP

Tiedemann Constantia, the international operations of Tiedemann, the US investment and wealth advisers for high net worth families, has acquired London-based multi-family office Holbein Partners LLP

15 Jul 2021

Business

Accountancy Firms

Careers

Image for impairment assets small entities under frs 102

Finance | Impairment of assets for small entities under FRS 102

Steve Collings FMAAT FCCA explains impairment accounting and disclosure for small entities applying FRS 102:1A and the impact on the balance sheet

14 Jul 2021

Tax | Call waiting time for HMRC hits 17 minutes

In the latest HMRC performance figures issued by the tax authority call waiting time has worsened with many callers waiting up to 17 minutes to get through to a tax official

14 Jul 2021

Tax

HMRC

Image for mazars appointed liquidator arcadia group

Business | Mazars appointed liquidator for Arcadia Group

Accounting firm Mazars has been named as liquidator for the Arcadia Group, owners of Topshop, which went into administration in late 2020

14 Jul 2021

Business

Restructuring & Insolvency

Image for ex director disability charity jailed ps57k fraud

Business | Ex-director of disability charity jailed for £57k fraud

A man who set up a charity to help families of children with disabilities and serious illnesses has been jailed for fraud after stealing £57,000 from charity pot

14 Jul 2021

Business

Called to Account

Image for big four auditors dominate ftse 350 audit fees increase

| Big Four auditors dominate FTSE 350 as audit fees increase

Competition is growing slightly for audit business as challenger audit firms have grown their share of FTSE 250 audits, up from 4.8% to 7.6%, but fees have increased

14 Jul 2021

Corporate Governance

Business

Accountancy Firms

Image for employees will quit if not offered flexible working

Business | Employees will quit if not offered flexible working

Almost half, 47%, of employees surveyed from across the UK, would consider leaving their job post-covid-19 pandemic if they are not afforded some form of flexibility in where and when they work

14 Jul 2021

Business

Companies

Image for rapson named frc head audit supervision

| Rapson named FRC head of audit supervision

The Financial Reporting Council (FRC) has appointed Sarah Rapson as executive director, supervision, with responsibility for audit standards and monitoring

14 Jul 2021

Corporate Governance

Business

Accountancy Firms

Leadership & Management

Image for firms women senior roles outperformed companies run men

Business | Firms with women in senior roles outperformed companies run by men

Companies with more women in top positions performed better than male-run companies by almost 40% and managed to make more money during the 15 months of the covid-19 pandemic

14 Jul 2021

Business

Companies

Careers

Image for haines watts reports 3 growth after pandemic

Business | Haines Watts reports 3% growth after pandemic

Accounting firm Haines Watts has reported a 3% like-for-like revenue growth for year end 2021

14 Jul 2021

Leadership & Management

Image for making tax digital rollout under spotlight

Tax | Making Tax Digital rollout under the spotlight

The rollout of Making Tax Digital may have slowed due to the pandemic but there is low awareness about the next stage covering landlords, small business and partnerships, warns Kevin McCallum, chief commercial officer at FreeAgent

13 Jul 2021

Tax

Making Tax Digital

Image for use offshore tax havens scotland 60 decade

Tax | Use of offshore tax havens in Scotland up 60% in a decade

The number of companies registered in tax havens investing in Scotland over the last decade has increased by nearly 60%

13 Jul 2021

Tax

Business Tax

Image for qa tax and employee ownership trusts

Tax | Q&A: tax and employee ownership trusts

In our regular Q&A series, Croner Taxwise tax adviser Ibrahim Nalla examines the tax implications of setting up an employee ownership trust for a privately held company

13 Jul 2021

Tax

Business Tax

Tax Planning