Business &amp; Accountancy Daily

Leadership & Management

Image for hmrc advisory fuel rates company car users 1 december 2

Tax | HMRC advisory fuel rates for company car users from 1 December

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 December 2021, increasing mileage rates by between 1p and 2p per mile for all petrol and diesel vehicles, while the electric car rate also increases

24 Nov 2021

Tax | Tax pitfalls of building a garden home office

Investing in a home office with a garden shed upgrade or working pod makes sense for home workers, but there are a number of tax issues to consider, warns Ian McMonagle, taxation director at Russell & Russell

24 Nov 2021

Personal Tax

Tax Compliance

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Business | ACCA warns against risk of greenwashing

The Association of Chartered Certified Accountants (ACCA) has warned SMEs and their accountants to not fall into the ‘unwary trap’ of greenwashing and to ‘not cut corners’ on sustainability reporting

24 Nov 2021

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Business | BM Advisory and Moorfields Advisory merge

Restructuring and advisory firms BM Advisory and Moorfields Advisory have announced a merger to support ambitious growth plans under the rebranded firm

24 Nov 2021

Restructuring & Insolvency

Careers

Leadership & Management

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Tax | HMRC to move to Pilgrim’s Quarter in Newcastle

HMRC’s north east hub is going to be based at Pilgrims Quarter in Newcastle and is set to accommodate around 9,000 HMRC staff

24 Nov 2021

HMRC

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Tax | Court rules company must pay £2.7m withholding tax

The Court has ruled in favour of HMRC that the interest paid by a UK property investment company under short-term loans was subject to £2.7m withholding tax

24 Nov 2021

Case Reports

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Business | Majority of businesses expect cyber security threat to increase

Two thirds (66%) of UK business leaders expect the threat from cyber criminals to increase over the next 12 months, according to the latest PwC cyber security survey

24 Nov 2021

Business | Job of the week: audit and accounting writer, Croner-i

Croner-i is looking for an audit and accounting writer to join their team of writers, producing technical content and analysis on the latest developments facing the accountancy profession

24 Nov 2021

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Tax | Q&A: subcontracted R&D and tax liability

In this week’s Q&A, Croner Taxwise tax adviser Suzanne Rowland, considers the tax implications for claiming reliefs when subcontracting research and development (R&D) work

23 Nov 2021

Tax Compliance

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Tax | Stamp duty holiday gave buyers £6.4bn tax break

The stamp duty holiday for home buyers introduced in July 2020 provided a £6.4bn tax break for buyers according to analysis by property agent Savills

23 Nov 2021

Property Tax

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Tax | What is changing in the world of R&D tax credits?

Changes to research and development (R&D) tax credits are due to come into effect in 2023. AAT’s Annie Makoff examines the impact and talks to accountants about potential pitfalls

23 Nov 2021

Tax Compliance

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Tax | MPs avoided tax bills on second jobs

MPs have been found to be channelling large amounts of money from private consultancy work through personal service companies that may have significantly reduced their tax bills

23 Nov 2021

Business | Sustainability and digital top agenda for IFA conference

The Institute of Financial Accountants (IFA) will hold its inaugural international conference for accountants and accountancy firms this week, focusing on sustainability and digital transformation

23 Nov 2021

Finance | UKEB calls for feedback on IFRS 9 implementation

The UK Endorsement Board (UKEB) has issued a survey to gather views on the IASB’s Post-implementation Review of IFRS 9 Financial Instruments, Classification and Measurement

23 Nov 2021

Finance

Audit Consultations

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Tax | Tax refund companies target self assessment returns

The Low Incomes Tax Reform Group (LITRG) is warning taxpayers never to share their Government Gateway username and password details with companies that offer to make tax relief claims on their behalf

23 Nov 2021

Personal Tax

Image for partnership dispute tribe case highlights risk court action

Business | Partnership dispute in Tribe case highlights risk of court action

After the High Court ruling over a partnership dispute over payments in Tribe v Elborne Mitchell LLP, Andrew Flynn, associate at Cooke, Young & Keidan LLP examines the impact on partnership arrangements

22 Nov 2021

Law & Guidance

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Business | Business optimism high despite low cash reserves

A third of UK owner-managed businesses report lower cash reserves now than when going into the pandemic but a worrying percentage do not plan to pay back covid loans

22 Nov 2021

Business | One in five businesses not confident with IR35

One in five mid-sized businesses do not think that their business is compliant with IR35, finds research by Grant Thornton

22 Nov 2021

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Business | Energy firm Bulb enters special administration

Bulb has entered special administration affecting 1.7m customers, which is 6% of the energy market

22 Nov 2021

Restructuring & Insolvency

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Finance | IASB consults on amendments to long-term debt under IAS 1

The International Accounting Standards Board (IASB) is planning to amend IAS 1 Presentation of Financial Statements to improve the information companies provide about long-term debt with covenants

22 Nov 2021

Finance

Audit Consultations

Image for official receiver files ps230m claim against kpmg auditors

Finance | Official Receiver files £230m claim against KPMG auditors

The Official Receiver is reported to have launched a £230m legal claim against KPMG, the auditor of collapsed construction firm Carillion

22 Nov 2021

Auditing

Corporate Governance

Image for anti money laundering monitoring results ps53m fines

Finance | Anti-money laundering monitoring results in £53m in fines

The latest Treasury figures on compliance with anti-money laundering rules shows that the total fines issued for breaching the rules was £53.2m in 2019/20, including penalties for professional service firms

22 Nov 2021

Business | Adviser Fortus relocates to larger Scarborough base

Business advisers Fortus has moved to new Scarborough offices, to accommodate the company’s fast-growing team and client list

22 Nov 2021