Business &amp; Accountancy Daily

Property Tax

Case Reports

Image for corporate insolvencies return pre covid levels

Business | Corporate insolvencies return to pre-covid levels

Corporate insolvencies in England and Wales began to return to levels last seen before the pandemic with 1,560 reported in January 2022

16 Feb 2022

Restructuring & Insolvency

Companies

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Tax | 100k taxpayers sign up to Time to Pay scheme

Almost 100,000 taxpayers are unable to pay their tax bill and have signed up to HMRC’s Time to Pay scheme to spread the cost of their tax bill

16 Feb 2022

Personal Tax

Tax Compliance

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Business | £1.4bn of covid loans need to be repaid next month

Nine companies need to pay back almost £1.4bn worth of the Covid Corporate Financing Facility (CCFF) loans before the repayment deadline closes next month

16 Feb 2022

Companies

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Business | Accountex London set for May return at Excel

After three years, Accountex London is returning to Excel in London, providing a showcase for 250 companies and education programme

16 Feb 2022

Business | Hybrid working rolled out at majority of accounting firms

Four in five (79%) accounting firms are seeing an increase in flexible working as a result of Covid-19 with a third of accountants already working a four-day week

16 Feb 2022

Accountancy Firms

Careers

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Tax | KPMG and Blue J launch AI tax tool

Big Four firm KPMG is partnering with Blue K to develop artificial intelligence (AI) tax analysis tools for the UK

16 Feb 2022

Business | Bogus claims boss sentenced

Nottingham-based claims management boss previously jailed for being in contempt of court fined £25,000 for failing to carry out duties as a company director

16 Feb 2022

Called to Account

Image for qa vat lease terminations and property dilapidations

Tax | Q&A: VAT on lease terminations and property dilapidations

In this week’s Q&A, Croner Taxwise VAT adviser Tony Chamberlain, considers the treatment of VAT on lease terminations and property dilapidations in commercial buildings

15 Feb 2022

VAT

Tax Compliance

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Tax | Car boot sale business wins £87k VAT case

A taxpayer has won an appeal against a VAT and interest assessment worth £87,795 with the court ruling that they ran an ‘ordinary car boot’ and the pitches it rented out were zero-rated

15 Feb 2022

VAT

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Finance | FRC issues guidance on auditor duties on climate reporting

The Financial Reporting Council (FRC) has published a guidance note on auditor responsibilities under ISA (UK) 720 in respect of climate related reporting by companies required by the Financial Conduct Authority (FCA)

15 Feb 2022

Auditing

Corporate Governance

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Tax | MTD for income tax exemptions clarified

HMRC has clarified the reasons for when to apply for an exemption from using Making Tax Digital (MTD) for Income Tax

15 Feb 2022

Making Tax Digital

Personal Tax

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Business | DJH Mitten Clarke merges with Bakers

DJH Mitten Clarke has made a third acquisition in a year following a merger with Walsall based accountancy firm Bakers Chartered Accountants

15 Feb 2022

Accountancy Firms

Careers

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Business | Two-thirds of UK CEOs focus on investment and M&A

Most UK corporates are expecting to accelerate investment and undertake mergers and acquisitions (M&A) this year

15 Feb 2022

Companies

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Tax | Young people targeted by ‘stealth taxes’

The government is ‘unfairly targeting’ young people in a ‘tax by stealth’ as the freeze to tax brackets, student loan repayments, and the National Insurance contributions (NIC) increase will hit young workers the hardest

15 Feb 2022

Personal Tax

HMRC

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Tax | Business tax relief claims hits £93.7bn

The value of claims for business tax relief has hit a record £93.7bn annually which is up 5% from £89.3bn claimed the year before

15 Feb 2022

Business Tax

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Tax | Determining the tax residence of individuals

Residency is an important factor when deciding which jurisdiction the taxpayer should pay tax in and rules vary between countries. Guillermo Narvaez, tax partner and technical director, Kreston Global Tax Group, considers the tax traps

14 Feb 2022

Tax | Accountant loses £297k tax relief case

An accountant’s claim for input tax and VAT relief of £240,842.78 has been rejected as his luxury leisure complex was ruled not ‘business expenditure’

14 Feb 2022

Tax | HMRC seizes NFT for first time in £1.4m fraud case

HMRC has seized three non-fungible tokens (NFTs) and arrested three people as part of an investigation into a £1.4m tax evasion fraud

14 Feb 2022

VAT

HMRC

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Business | Big Four firm invests £100m in EY Carbon net zero project

EY has launched a sustainability service offering, EY Carbon, to support UK-listed businesses and financial institutions meet net zero reporting as rules change

14 Feb 2022

Accountancy Firms

Careers

Image for static caravan company wound over ps50k covid loan

Business | Static caravan company wound up over £50k covid loan

Regal Luxury Lodges Ltd has been closed down after fraudulently securing a bounce back loan while the company was not operating

14 Feb 2022

Called to Account

Tax | Plans for two freeports for Scotland

A partnership agreement to establish two green freeports in Scotland has been reached between Scottish and UK ministers with plans to come online in 2023

14 Feb 2022

Business Tax

Tax Planning

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Tax | Tax tips for couples this Valentine’s Day

On top of the usual Valentine’s Day treats of chocolate and flowers, tax and advisory firm Blick Rothenberg highlights the tax gifts that you can give to your partner this year

14 Feb 2022