Business &amp; Accountancy Daily

VAT

Case Reports

| Student loan repayment threshold frozen

The income level at which people have to pay back their student loan has been frozen at £27,295 for the next 12 months

31 Jan 2022

Politics

Careers

Image for lifetime tax bill hits ps11m household

Tax | Lifetime tax bill hits £1.1m per household

The average household will pay over £1.1m in tax in their lifetime, meaning they would have to work for 18 years just to pay off their tax bills

31 Jan 2022

Tax Planning

Image for national insurance hike will go ahead

Tax | National insurance hike will go ahead

Boris Johnson and Rushi Sunak have pledged to go ahead with the upcoming 1.25% rise in national insurance for employees and employers from April, saying it is a progressive tax

31 Jan 2022

Politics

Image for regional economic divide narrows during pandemic

Business | Regional economic divide narrows during pandemic

The Covid-19 pandemic has helped to narrow the UK’s regional economic divide, but the gap between London and the rest of the country is set to grow again during the post-pandemic recovery

31 Jan 2022

Image for changes expected work home tax relief

Tax | Changes expected to work from home tax relief

The government is reviewing the tax relief which allows employees to claim up to £125 a year if they work from home after it has cost the taxpayer £500m over the course of the pandemic

28 Jan 2022

Employment Tax

Image for lack awareness about tax free childcare scheme

Tax | Lack of awareness about tax free childcare scheme

HMRC commissioned research into tax free childcare payments has raised issues about awareness of the scheme with many parents put off claiming for the scheme due to a lack of understanding about eligibility

28 Jan 2022

HMRC

Image for manager jailed defrauding charity ps145k

Business | Manager jailed for defrauding charity of £145k

A manager for a Midlands autism charity has been sentenced to four years and three months in prison after defrauding the charity out of £145,000 worth of funds

28 Jan 2022

Called to Account

Business | 14k company insolvencies in 2021

There were 14,048 company insolvencies recorded in 2021 which is up 11% from the 12,634 recorded the year before

28 Jan 2022

Restructuring & Insolvency

Image for people news azets pwc aab prime issb

Business | People in the news: Azets, PwC, AAB, Prime, ISSB

In this week’s accountancy career moves, senior management appointments at Azets, PwC and Anderson Anderson & Brown, promotions at Prime Accountants Group and VP for ISSB

28 Jan 2022

Leadership & Management

Image for half uk energy firms technically insolvent

Business | Half of UK energy firms ‘technically insolvent’

Analysis from accountancy firm Price Bailey has found that 55% of the UK’s remaining energy firms are ‘technically insolvent’ and are on the brink of collapse

28 Jan 2022

Image for mps approve du plessis head audit regulator

| MPs approve Du Plessis as head of audit regulator

The BEIS Committee has endorsed the appointment of Jan Du Plessis as the new chair of the Financial Reporting Council (FRC)

28 Jan 2022

Corporate Governance

Image for bankrupt trader uses ps50k covid loan drugs

Business | Bankrupt trader uses £50k covid loan for drugs

A Newport trader has been handed a bankruptcy order after he used £50,000 from the bounce back loan scheme (BBLS) to fund his drug habit

28 Jan 2022

Image for hosting airbnb tax implications

Tax | Hosting on Airbnb: tax implications

Signing up as an Airbnb host may seem like an easy way to earn additional income but it is important to understand the tax liabilities, says Tim Walford-Fitzgerald, private client partner at HW Fisher

27 Jan 2022

Tax Compliance

Image for treasury committee questions plans ni increase

Tax | Treasury Committee questions plans for NI increase

The Treasury Committee has criticised plans to raise national insurance by 1.25% from April, stressing that the tax burden is now the highest for five decades

27 Jan 2022

Employment Tax

Image for last chance apply welsh covid grants

Tax | Last chance to apply for Welsh covid grants

The deadline for applications for the Economic Resilience Fund (ERF), the Welsh covid grant scheme, is fast approaching, warns accountants Kilsby Williams

27 Jan 2022

Finance | Education charity faces probe over missing accounts

The Charity Commission has launched an investigation into Bristol-based charity Shire Way Community Association over concerns relating to financial mismanagement

27 Jan 2022

Charities

Image for deloitte offers flexible public holidays staff

Business | Deloitte offers flexible public holidays for staff

Deloitte is to give its 22,000 staff a choice of when they want to take public holiday leave

27 Jan 2022

Image for director sentenced ps43k vat fraud

Business | Director sentenced for £43k VAT fraud

A company director has been sentenced in court after falsifying VAT returns to fraudulently claim £43,000 and attempting to illegally claim £37,085 more from HRMC

27 Jan 2022

Called to Account

Image for academy schools record average surplus ps460k

Business | Academy schools record average surplus of £460k

Multi-academy trusts (MAT) reported a record boost in the average financial surplus of more than £460,000 in 2021 which is more than double the 2020 average surplus of £221,000

27 Jan 2022

Image for icaew updates code ethics accountants behaviour

Business | ICAEW updates code of ethics on accountants' behaviour

ICAEW has issued new guidance relating to the influence of personal behaviour on professional conduct for accountants

27 Jan 2022