FRC considering audit probe into Man City FC, 1.4m directors remain unverified for ID at Companies House, and Register for the Budget 2026 tax changes webinar now

Summary provided by AI

Business & Accountancy Daily

Latest news

Business | Fraud in a pandemic: the perfect storm?

The sheer scale of fraud committed during the pandemic was exacerbated by the limited level of checks when claims were made for covid grants. Kate Gee, counsel at specialist disputes firm Signature Litigation, examines the scale of the issue

18 Oct 2021

Business

Companies

Accountancy Firms

Image for inheritance tax bills exceed ps1m kensington

Tax | Inheritance tax bills exceed £1m in Kensington

As the thresholds for inheritance tax are frozen, there is a clear divide between towns and regions in the UK where the most tax is paid

18 Oct 2021

Tax

Personal Tax

Tax Planning

Image for forrestbrown expands scottish presence

Business | ForrestBrown expands Scottish presence

ForrestBrown, the R&D tax credit consultancy, has expanded its presence in the UK by opening a new office in Scotland

18 Oct 2021

Business

Accountancy Firms

Careers

Leadership & Management

Image for cfos see labour shortages and supply disruptions persisting

Business | CFOs see labour shortages and supply disruptions persisting

Finance leaders believe that the labour shortages and supply disruptions British businesses are experiencing now are likely to persist for a year, with no meaningful easing until late 2022

18 Oct 2021

Business

Companies

Image for accounting and legal sectors pay ps205bn taxes

Tax | Accounting and legal sectors pay £20.5bn in taxes

The UK accounting and legal sectors contributed £20.5bn in tax in 2020, up 5.4% from 2018, according to the latest report from TheCityUK

18 Oct 2021

Tax

Business Tax

Employment Tax

Image for reporting uncertainties and cash outflows need improvement

Finance | Reporting of uncertainties and cash outflows need improvement

The Financial Reporting Council (FRC) has published review findings on companies’ disclosures, calling for better reporting of key assumptions under IAS 37 Provisions, Contingent Liabilities and Contingent Assets

18 Oct 2021

Finance

Financial Reporting

Image for court dismisses claim against ps15m pension tax

Tax | Court dismisses claim against £1.5m pension tax

The court has dismissed an appeal from a taxpayer finding that he had unreasonably delayed applying for enhanced protection on his pension which resulted in a £1.5m tax bill

18 Oct 2021

Tax

Case Reports

Image for thinktank calls carbon tax decarbonise economy

Tax | Thinktank calls for carbon tax to decarbonise economy

The Centre for Policy Studies has urged reform of carbon pricing to ‘ensure polluters are paying for the damage they cause’, in a report released and backed by Stanley Johnson

18 Oct 2021

Tax

Business Tax

15 Oct 2021

Image for collaboration within accountancy world pros and cons

Business | Collaboration within the accountancy world: pros and cons

Offering a comprehensive range of services to clients is not always possible so it can be worth considering joining forces with another accountancy practice. Sherad Dewedi, managing partner at Shenwards, explains the pros and cons

15 Oct 2021

Business

Accountancy Firms

Leadership & Management

Image for 40 consumers concerned about inheritance tax bills

Tax | 40% of consumers concerned about inheritance tax bills

Inheritance tax remains an area of concern for 40% of people, who say they are concerned about paying the death tax, while the majority (70%) are doing nothing to reduce a potential bill

15 Oct 2021

Tax

Personal Tax

Tax Planning

Image for educational publisher fails over ps1m accounts hole

Business | Educational publisher fails over £1m accounts hole

The Prevention Foundation CIC, a community interest company, has been wound up by the High Court, after complaints regarding misleading sales tactics and missing accounts

15 Oct 2021

Business

Called to Account

Image for deloitte offers university bursaries

Business | Deloitte offers university bursaries

Deloitte has given 41 students of Black, Asian, and other minority ethnic heritage a bursary to support their studies as part of Black History Month

15 Oct 2021

Business

Accountancy Firms

Leadership & Management

Image for accountancy firm fiander tovell joins etl global

Business | Accountancy firm Fiander Tovell joins ETL Global

ETL Global has expanded its UK network with a recent investment in Fiander Tovell as the Southampton based accountancy firm joins the group

15 Oct 2021

Business

Accountancy Firms

Leadership & Management

Image for september insolvencies 56 higher last year

Business | September insolvencies 56% higher than last year

The number of company insolvencies in September 2021 sat at 1,446 which is 99 more than recorded in August and 56% higher than last year’s figure of 926

15 Oct 2021

Business

Companies

Restructuring & Insolvency

Image for people news bdo mercer hole carpenter box icaew

Business | People in the news: BDO, Mercer & Hole, Carpenter Box, ICAEW

In this week’s accountancy career moves, partner promotions at BDO and Tilney Smith & Williamson, new hires at KPMG, Mercer & Hole and Carpenter Box, and regulatory head for ICAEW

15 Oct 2021

Leadership & Management

Image for auditing and accounting skills most demand

Business | Auditing and accounting skills most in demand

Finance, auditing, and accounting are the top three most in-demand skills in the UK right now as employers struggle to fill vacancies

15 Oct 2021

Business

Companies

Accountancy Firms

Image for azets appointed administrators symbio energy

Business | Azets appointed administrators to Symbio Energy

Nicola Clark and Jonathan Amor of Azets have been appointed as joint administrators of Symbio Energy Limited, the latest energy company to collapse

15 Oct 2021

Business

Companies

Image for mdu and armstrong watson llp sign partnership

Business | MDU and Armstrong Watson LLP sign partnership

The Medical Defence Union (MDU) has signed a partnership with accountancy firm Armstrong Watson LLP to offer members access to tax, accountancy and business advisory services

15 Oct 2021

Business

Accountancy Firms

Image for accountants are anti money laundering gatekeepers says icaew

Business | Accountants are anti money laundering ‘gatekeepers’, says ICAEW

The current anti money laundering (AML) regime’s main objectives fail to capture the important role the accountancy sector plays in acting as a ‘gatekeeper’ to the financial system and preventing criminals from doing business in the UK, says ICAEW

15 Oct 2021

Business

Accountancy Firms

Business | Small business loan defaults rise substantially

The Bank of England Credit Conditions Survey shows that the majority of banks, 44% reported an increase in loan defaults by small companies in Q3 of this year

15 Oct 2021

Business

Companies

Image for video games tax relief paid out ps180m

Tax | Video games tax relief paid out £180m

The Video Games Tax Relief (VGTR), a form of subsidy to the UK videogames industry, has seen a 48% increase in the past year with £180m claimed

15 Oct 2021

Tax

Business Tax

14 Oct 2021

Image for planning and paying inheritance tax

Tax | Planning and paying for inheritance tax

As inheritance tax take increases by a third, it is time to think about more efficient wealth and tax planning, and practical solutions to protect your wealth, explain Simon Dawson, chief commercial officer, Legacy Release, and Imogen Lea, tax and trust consultant, Wilsons Solicitors LLP

14 Oct 2021

Tax

Personal Tax

Tax Planning

Image for hmrc extends beta trial agent access client data

Tax | HMRC extends beta trial for agent access to client data

HMRC has extended the trial of a pre-release version extension of its PAYE for the agent’s online service which allows agents to see employer liabilities and payments

14 Oct 2021

Business | £100 spending limit for contactless cards goes live

The national rollout of the new £100 spending limit for contactless card payments begins from 15 October 2021, although it will take time for retailers to update their terminals

14 Oct 2021

Business

Companies

Accountancy Firms

Image for small firms spend ps25bn year tax admin

Tax | Small firms spend £25bn a year on tax admin

The Making Tax Digital initiative, which the government states should be ‘making it easier for individuals and businesses to get their tax right’ has significantly increased costs and admin burdens for small firms

14 Oct 2021

Business | HMRC clarifies Covid-19 overpayment notification process

HMRC is contacting companies directly about their company tax returns reminding them to declare overpayments from the Coronavirus Job Retention Scheme (CJRS) or the Eat out to Help Out scheme

14 Oct 2021

Business

Companies

Business | Two more energy firms go bust

Pure Planet, a renewable energy firm backed by oil company BP, and Colorado Energy, have become the latest energy suppliers to collapse

14 Oct 2021

Business

Companies

Image for majority digital annual reports not scratch

| Majority of digital annual reports not up to scratch

In a review of 50 early annual reports presented in a structured electronic format a majority fell short of the quality standards expected, the Financial Reporting Council’s (FRC) LAB has found

14 Oct 2021

Auditing

Navigate

Tax Services

Latest news

Business | Fraud in a pandemic: the perfect storm?

Tax | Inheritance tax bills exceed £1m in Kensington

Business | ForrestBrown expands Scottish presence

Business | CFOs see labour shortages and supply disruptions persisting

Tax | Accounting and legal sectors pay £20.5bn in taxes

Finance | Reporting of uncertainties and cash outflows need improvement

Tax | Court dismisses claim against £1.5m pension tax

Tax | Thinktank calls for carbon tax to decarbonise economy

Business | Collaboration within the accountancy world: pros and cons

Tax | 40% of consumers concerned about inheritance tax bills

Business | Educational publisher fails over £1m accounts hole

Business | Deloitte offers university bursaries

Business | Accountancy firm Fiander Tovell joins ETL Global

Business | September insolvencies 56% higher than last year

Business | People in the news: BDO, Mercer & Hole, Carpenter Box, ICAEW

Business | Auditing and accounting skills most in demand

Business | Azets appointed administrators to Symbio Energy

Business | MDU and Armstrong Watson LLP sign partnership

Business | Accountants are anti money laundering ‘gatekeepers’, says ICAEW

Business | Small business loan defaults rise substantially

Tax | Video games tax relief paid out £180m

Tax | Planning and paying for inheritance tax

Tax | HMRC extends beta trial for agent access to client data

Business | £100 spending limit for contactless cards goes live

Tax | Small firms spend £25bn a year on tax admin

Business | HMRC clarifies Covid-19 overpayment notification process

Business | Two more energy firms go bust

| Majority of digital annual reports not up to scratch