Business &amp; Accountancy Daily

VAT

Tax Compliance

Image for contractor trust cest ir35 accuracy falls

Tax | Contractor trust in CEST IR35 accuracy falls

Only 5% of contractors trust HMRC’s CEST tool to accurately decide their tax status and only 4% trusted HMRC to keep its promise to stand by the tool’s results

13 Jan 2022

Business Tax

HMRC

Image for italian wine producer wins ps12m tax case

Tax | Italian wine producer wins £1.2m tax case

The court has ruled in favour of the taxpayer against a £1,294,028 tax bill as the assessment notices were not formally issued by HMRC in the timeframe

13 Jan 2022

Business | Self-isolation reduced to five days

The government has announced that those who test positive for Covid-19 in England can end their self-isolation after five full days if testing negative

13 Jan 2022

Companies

Image for looking career change senior technical writer opportunity

| Looking for a career change? Senior technical writer opportunity

Croner-i is a market-leading provider of information services and solutions for professionals in accounting, audit, tax, H&S and business and is looking for a senior technical writer specifically for audit content

13 Jan 2022

Auditing

Careers

Image for digital taxation impact pillars one and two

Tax | Digital taxation: impact of pillars one and two

As plans to implement a minimum corporate tax rate for multinationals enters the consultation phase in the UK, Glyn Fullelove, tax writer at Croner-i, assesses the implications of pillars one and two on tax planning

12 Jan 2022

Tax | HMRC can use discovery assessments to recoup child benefits

HMRC is being given extra powers in the Finance Bill to use discovery assessments to force taxpayers to disclose tax liability on higher rate child benefit charges, Gift Aid and pensions with new retrospective legislation

12 Jan 2022

HMRC

Tax Compliance

Image for prime accountancy group acquires stanley yule

Business | Prime Accountancy Group acquires Stanley Yule

Prime Accountancy Group has acquired accountancy firm Stanley Yule following a period of growth for both throughout 2021

12 Jan 2022

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Finance | Charges removed from smallest pension pots

From April 2022, pension savings invested in the default funds of schemes used for automatic enrolment with a value of £100 or less will be exempt from flat fees

12 Jan 2022

Pensions

Image for european football clubs lose financial ground

Business | European football clubs lose financial ground

The second football season impacted by the coronavirus pandemic is showing further disruption in the financial performances of the champions of Europe’s eight prominent leagues with loss of gate revenue and high staff costs pushing many top clubs into debt

12 Jan 2022

Companies

Image for councils overestimated financial hit pandemic

Business | Councils overestimated financial hit from pandemic

Councils reported that they would have to spend £7.8bn more due to the Covid-19 pandemic however that figure was actually around £4.1bn

12 Jan 2022

Image for kpmg admits misconduct carillion audit

Business | KPMG admits ‘misconduct’ in Carillion audit

In a statement released on Monday after the first day of a Financial Reporting Council (FRC) disciplinary hearing, KPMG chief executive Jon Holt said that it was clear that ‘misconduct had occurred’ and that the regulator was ‘misled’ in the Carillion audit

11 Jan 2022

Image for covid 19 support grants must be included company tax returns

Tax | Covid-19 support grants must be included on company tax returns

HMRC is urging tax agents and accountants to remind their clients that Covid-19 support grants or payments are taxable and should be declared on their company tax returns

11 Jan 2022

Tax | Q&A: exchange of joint property interests and CGT

In this week’s Q&A, Croner Taxwise tax adviser Ibrahim Nalla considers whether there are any capital gains tax (CGT) reliefs available when taxpayers change ownership of properties

11 Jan 2022

Property Tax

Tax Compliance

Image for treasury consults global minimum tax multinationals

Tax | Treasury consults on global minimum tax for multinationals

The Treasury is consulting on the framework for rolling out the 15% global minimum tax on profits which will be payable by the largest multinationals from 2023

11 Jan 2022

Tax | Salon owner wins £18k VAT case

The court has ruled in favour of the taxpayer in an appeal against a VAT assessment of £18,649 in regards to rooms rented to other businesses within a hairdressing salon

11 Jan 2022

VAT

Case Reports

Image for mps told 37 bounce back loans could be fraudulent

Business | MPs told 37% of bounce back loans could be fraudulent

Over a third of bounce back loans (BBLs) issued during the pandemic are likely to have been made fraudulently due to the level of checks on applications, MPs are told

11 Jan 2022

Companies

Business | RSM global revenues hit $7.26bn

Global accounting network RSM, has reported revenues of $7.26bn (£5.37bn) in 2021, up 15.8% on last year’s figure of $6.3bn driven by a hike in consulting income

11 Jan 2022