Business &amp; Accountancy Daily

Business Tax

Politics

Image for fca bans adviser after understating income tax returns

Business | FCA bans adviser after 'understating' income in tax returns

The Financial Conduct Authority (FCA) has banned an independent financial adviser and mortgage intermediary from performing any regulated activity in the financial services industry

27 Sep 2021

Tax | NHS staff to pay £900m more in tax

Research by the House of Commons finds that NHS nurses, care home staff, and other health and social care workers will pay over £900m more in tax with the national insurance contributions (NIC) rise

27 Sep 2021

Personal Tax

Image for uk should follow g24 proposals says taxwatch

Tax | UK should follow G24 proposals says Taxwatch

Taxwatch tells the UK to support the proposals put forward by the G20 rather than the G7 when taxing the tech giants as the G7’s proposals will mean tech giants will ‘almost certainly’ pay less tax

27 Sep 2021

Business Tax

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Finance | Charity inquiry launched over £900k loans

The Charity Commission has opened an investigation into ‘significant financial concerns’ at the Citygate Christian Outreach Centre

27 Sep 2021

Charities

Image for cipfa consults treasury management code

Finance | CIPFA consults on treasury management code

The Chartered Institute of Public Finance and Accountancy (CIPFA) has announced its second consultation on the Prudential and Treasury Management Codes for public sector investments

27 Sep 2021

Finance

Financial Reporting

Image for mtd income tax delayed year until 2024

Tax | MTD for income tax delayed by a year until 2024

In a statement to MPs today, new financial secretary to the Treasury Lucy Frazer has confirmed that the introduction of Making Tax Digital (MTD) for income tax will be postponed by a year

24 Sep 2021

Making Tax Digital

Tax Planning

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Business | Labour shortages: where are all the workers?

The lack of available workers has been all over the news in recent weeks, Tom Pugh, UK economist at RSM details the reasons why and how this problem will ease over the coming months

24 Sep 2021

Companies

Image for people news rsm azets johnston carmichael rkb

Business | People in the news: RSM, Azets, Johnston Carmichael, RKB

In this week’s accountancy career moves, partner promotions at RSM, Johnston Carmichael, director hires at Azets, RKB and Tilney Smith & Williamson

24 Sep 2021

Accountancy Firms

Careers

Leadership & Management

Tax | Tipping rules set for overhaul

The government plans to overhaul tipping practices, helping around 2 million people top up their income by ensuring all tips are given to staff rather than retained by business owners

24 Sep 2021

Personal Tax

Image for inheritance tax bills hit record ps6bn

Tax | Inheritance tax bills hit record £6bn

HMRC has collected more than £6bn in inheritance tax (IHT) in the past 12 months, the highest figure ever

24 Sep 2021

Personal Tax

Image for construction boss banned missing ps700k

Business | Construction boss banned for missing £700k

A Scottish construction director has been banned for seven years after failing to explain more than £700,000 worth of expenditure

24 Sep 2021

Finance | Global ad agency WPP fined $19m over accounting issues

The US Securities and Exchange Commission (SEC) has fined London-based WPP plc, the world's largest advertising group, more than $19m (£13.8m) to resolve charges that it violated anti-bribery rules and internal accounting controls

24 Sep 2021

Finance

Financial Reporting

Image for extended loss carry back rules explained

Tax | Extended loss carry back rules explained

As part of a range of measures to support businesses post-covid, the extended loss carry back rules provide a temporary tax break for businesses. Anna Walker, practice development manager at Onyx Accountants, explains

23 Sep 2021

Business | Six energy firms stop trading in September

On Wednesday it was announced that Green Supplier and Avro Energy had gone bust which brings the total to six energy companies to have gone under in September 2021

23 Sep 2021

Companies

Image for right request flexible working may be extended

Business | Right to request flexible working may be extended

The government plans to strengthen employment rights for employees from their first day in a new job and unpaid leave for working carers

23 Sep 2021

Tax | Scottish Budget scheduled for 9 December

Scotland has set the date of 9 December 2021 for the annual Scottish Budget to review spending for 2022-23 and the medium term financial strategy

23 Sep 2021

Budget

Image for frc flags disclosure gaps viability statements

Finance | FRC flags disclosure gaps in viability statements

Viability and going concern reporting need to be improved to give investors and key stakeholders a clearer picture of the financial stability of businesses, warns the Financial Reporting Council (FRC)

23 Sep 2021

Finance

Financial Reporting

Image for deliberate tax defaulters face ps217m penalties

Tax | Deliberate tax defaulters face £21.7m in penalties

The latest HMRC deliberate defaulters list shows that £21.7m in penalties are outstanding for tax evasion and related non-payment for the last quarter

23 Sep 2021

Tax | Tax tribunals need significant improvement

The major cause of dissatisfaction with the UK tax chamber’s First Tier Tribunal (FTT) is the long delays in listing cases and issuing decisions, says the Institute for Fiscal Studies (IFS)

23 Sep 2021

HMRC

Image for directors banned over ps13m withheld creditors

Business | Directors banned over £1.3m withheld from creditors

Two investment brokers have been disqualified for 12 years after transferring over £1.3m into personal accounts while ignoring the company’s creditors

23 Sep 2021