Business &amp; Accountancy Daily

Finance | Legal updates: September 2021

In this month’s roundup of significant cases, Sophie Brookes, partner at Gateley, examines why court refuses to impose restructuring plan on shareholders at Hurricane Energy, company director liability in Tattersalls and Tribe dispute over allocation of profits in a law firm

1 Sep 2021

Finance

Law and Regulation

Tax | VAT updates: September 2021

In this month’s round-up of VAT cases, Graham Elliott examines the rulings on exempt services in Target Group, VAT group backdated exemption in Dollar Financial and judicial review at issue in KSM Henryk Zeman

1 Sep 2021

VAT

Case Reports

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Business | Finance teams could be set to go external

In-house finance teams could be a thing of the past with 33% of business leaders and employees seeing external expertise as essential for businesses to thrive after the Covid-19 pandemic

1 Sep 2021

Business | Companies House urges businesses to file accounts early

Companies House urges businesses who are due to file accounts by the end of September to do so as soon as possible through its online service

1 Sep 2021

Business | ESG reporting vital for businesses to survive

Almost one-third of mid-market businesses say they face a high risk of losing business if they fail to act on environmental, social, and governance (ESG) impacts according to a new survey from accountancy and business advisory firm BDO

1 Sep 2021

Tax | Business rates discourage net-zero improvements

The Federation of Small Businesses (FSB) has called on the government to 'fix the system' that sees businesses incurring additional tax when they make improvements for net zero

1 Sep 2021

Tax | Super-deduction tax break – CPD module

In this month's exclusive Accountancy Daily CPD module, we focus on the super-deduction detailing what the relief is and how it is given, the conditions that must be met for the expenditure to qualify for the super deduction, and the disposal of the asset

1 Sep 2021

Business | Do you really understand the risks faced by your organisation - part 1

In the first in a three-part series, Nick Denning, CEO at Diegesis, looks at the risks faced by company boards, with a particular focus on those confronting CIOs and CTOs who are managing and operating complex enterprise IT systems

31 Aug 2021

Leadership & Management

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Tax | Court rules for £2.5m corporate tax deductions

The Upper Tribunal (UT) has overturned the First-Tier Tribunal’s (FTT) decision by ruling that corporation tax deductions of £2.5m were eligible for fees relating to advice on the disposal of assets

31 Aug 2021

Business Tax

Case Reports

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Tax | Q&A: tax liability on loan to shareholder

In our regular Q&A series, Croner Taxwise tax consultant Vivienne Cheung considers whether a loan to a non-employee shareholder should be treated as a benefit in kind

31 Aug 2021

Tax | HMRC opened 278 tax investigations in lockdown

HMRC launched 278 civil investigations into suspected tax evasion during the first 10 months of the Covid-19 pandemic says UHY Hacker Young

31 Aug 2021

| FRC issues auditor guidance on anomalies in data analytics

The Financial Reporting Council (FRC) has issued guidance for auditors on addressing potential exceptions when using data analytics in an audit

31 Aug 2021

Auditing

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Business | Plumber banned for abusing hire purchase

A Herefordshire plumber has had his bankruptcy extended for six years after he sold a van without the permission of the hire purchase finance company

31 Aug 2021

Called to Account

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Business | One third of UK accountants don’t trust outsourcing

According to research by IRIS Software Group, one third, 34%, of UK accountants do not trust that outsourcing is done correctly or to a high enough standard

31 Aug 2021

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Tax | Making Tax Digital: preparing accountants for MTD

Next year sees the rollout of the extension to Making Tax Digital for self-employed people, which means accountants need to start preparing their clients, explains Lee Murphy, managing director at The Accountancy Partnership

27 Aug 2021

Making Tax Digital

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Business | Use final month of furlough to plan for the future, warns R3

Insolvency and restructuring trade body R3 is urging directors of Covid-hit businesses to use the final month of the government’s furlough scheme to plan for the future and address any financial issues they face

27 Aug 2021

Restructuring & Insolvency

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Finance | FRC consults on updates to 2022 taxonomies

The Financial Reporting Council (FRC) is consulting on changes to the draft FRC taxonomies 2022 collection

27 Aug 2021

Finance

Financial Reporting

Audit Consultations

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Finance | Inventory reporting issue hits Peloton

Peloton, the exercise bike giant, has reported an inventory issue in its annual accounts filing, although this will not result in a restatement of results

27 Aug 2021

Finance

Financial Reporting

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Tax | HMRC ramps up debt collection with £7.5bn fall

In HMRC’s most recent performance update spanning April to June 2021, it reports that by the end of the first quarter (Q1) in 2021-22, the debt balance had dropped by 13% to £50bn

27 Aug 2021

HMRC