Business &amp; Accountancy Daily

Careers

Leadership & Management

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HR | Attract talent by offering more in post covid world

As the job market picks up and competition for recruits intensifies, Chris Willsher, senior regional director and Reed’s accountancy recruitment expert, provides tips on attracting the best staff

13 Aug 2021

Careers

Image for aat reports ps78m surplus income reserve

| AAT reports £7.8m surplus in income reserve

The Association of Accounting Technicians (AAT) has released its annual report which showed a £7.8m surplus in the membership body’s income reserve level

13 Aug 2021

Tax | Wetherspoons to slash prices for one day

Pub group, J D Wetherspoons is to cut the price of all food and drinks in its pubs by 7.5% on Thursday 23 September to highlight the benefit of a permanent VAT reduction in the hospitality industry

13 Aug 2021

Business Tax

VAT

Image for musical instrument traders banned fiddling sales

Business | Musical instrument traders banned for fiddling sales

Two directors have each received a nine-year ban after their London store sold musical instruments when it was insolvent and then failed to pass thousands of sales proceeds on to clients

13 Aug 2021

Called to Account

Image for record partner payout pwc fee income 2 ps44bn

Business | Record partner payout as PwC fee income up 2% to £4.4bn

PwC has reported that its total group profit for the financial year rose by 25% to £1.2bn as revenue grew by 2% and partners were paid a record payout of over £860,000 per partner

12 Aug 2021

Accountancy Firms

Image for hmrc handled over 6000 vulnerable taxpayer enquiries

Tax | HMRC handled over 6,000 vulnerable taxpayer enquiries

Voluntary and community sector (VCS) organisations which offer frontline support to individuals with their tax affairs, including tax credit queries and problems with tax debt, refer over 6,000 people to the HMRC extra support team annually

12 Aug 2021

Personal Tax

Tax Compliance

Image for financial institution notices extend hmrc powers

Tax | Financial institution notices extend HMRC powers

Under new rules introduced in the Finance Act 2021, HMRC has been given extra powers to issue financial institution notices to access information about taxpayers’ bank accounts to drum out possible tax evasion. Rachel Clark, barrister at Bright Line Law, examines the powers

12 Aug 2021

Finance | Charity faces probe over £1.7m in loans

A charity set up to help relieve poverty is under investigation by the Charity Commission over a series of loans to connected parties

12 Aug 2021

Charities

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Business | Director jailed for stealing £1.7m

A company director has been jailed for five years and banned for 12 for stealing £1.7m from the business to fund ‘addiction’ to buying horses

12 Aug 2021

Called to Account

Image for tax free earnings teenagers capped ps1k

Tax | Tax free earnings for teenagers capped at £1k

Thousands of young people who have finished their exams need to be aware that they may have to declare income to the tax man and pay National Insurance contributions on summer jobs

12 Aug 2021

Personal Tax

Image for penalty suspension late filed accounts has ended

Tax | Penalty suspension for late filed accounts has ended

Companies House has updated its Covid-19 guidance for its customers and has ended payment breaks for late filing penalties

12 Aug 2021

Business Tax

HMRC

Image for contractor left ps17m tax bill

Tax | Contractor left with £1.7m tax bill

A developer linked to several stalled construction sites in Liverpool and under investigation by the Serious Fraud Office has been hit with a tax bill of more than £1.7m

12 Aug 2021

Business | UK reports £5.7m of losses due to cybercrime

The UK has reported financial losses of £5.7m from 14,883 cybercrime incidents since the start of the year, with one third of the total losses, £1.9m, coming from businesses

12 Aug 2021

Image for bunny hall loses tax case over ps500k land dispute

Tax | Bunny Hall loses tax case over £500k land dispute

The First Tier Tribunal has dismissed an appeal against HMRC over the amount of income tax on trade profits and capital gains tax paid on plots of land sold on the estate of a listed building

11 Aug 2021

Property Tax

Case Reports

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Finance | Remuneration reporting in practice

Mark Wearden MSc FCCA FCG and Sarah Baxendale FCA examine current remuneration reporting practices at listed companies and compliance with the Corporate Governance Code

11 Aug 2021

Finance

Financial Reporting

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Finance | EY hired as auditor at FTSE 250 CLS Holdings

FTSE 250 listed CLS Holdings plc has confirmed plans to change auditors with the appointment of EY as the group’s external auditor

11 Aug 2021

Auditing

Corporate Governance

Image for fraudulent companies shut down after abusing ps230k covid 19 loans

Business | Fraudulent companies shut down after abusing £230k Covid-19 loans

Two companies who fraudulently secured £230,000 worth of Covid-19 support loans have been wound up in the courts

11 Aug 2021

Called to Account

Image for chancellor does not rule out lifting triple lock pensions

Finance | Chancellor does not rule out lifting triple lock on pensions

The Chancellor, Rishi Sunak, has not dismissed the idea of lifting the triple lock on pensions in his response to a letter from the Treasury Committee which asked for his stance on the matter

11 Aug 2021

Pensions

Image for stamp duty probes raise ps60m unpaid property taxes

Tax | Stamp duty probes raise £60m in unpaid property taxes

The number of stamp duty land tax (SDLT) investigations launched by HMRC has fallen by 75% in the last year but the recovered revenue remained almost as high as previous years

11 Aug 2021

Property Tax

HMRC

Image for rise number tax scams about tax evasion

Tax | Rise in number of tax scams about tax evasion

Tax and advisory firm Blick Rothenberg is warning taxpayers that they should not ‘be scared of the taxman’ and to report all incidents if they believe that they are being conned

11 Aug 2021

HMRC

Image for aat calls action contradictory taxes achieve climate goals

Tax | AAT calls for action on contradictory taxes to achieve climate goals

Ahead of the COP26 climate conference this November, the Association of Accounting Technicians (ATT) has called on the UK government to take steps to make changes to tax policy in order to reach the goal of net zero by 2050

11 Aug 2021