Business &amp; Accountancy Daily

Business Tax

Case Reports

Image for 15m still file self assessment tax returns 28 february

Tax | 1.5m still to file self assessment tax returns by 28 February

Time is running out for the 1.5 million taxpayers who still need to file their self assessment tax return and avoid a £100 penalty, HMRC has warned

21 Feb 2022

Business | City centres hit by majority of shop closures

Over 10,000 chain store branches disappeared from Great Britain’s retail locations in 2021 but retail parks were more resilient to closures

21 Feb 2022

Restructuring & Insolvency

Companies

Image for two more energy firms collapse 0

Business | Two more energy firms collapse

Whoop Energy and XCel Power have collapsed as the energy crisis fallout continues

21 Feb 2022

Companies

Tax | Business taxes bring in £50bn for Treasury

HMRC has collected more than £50bn from businesses in the last decade from the introduction of eight new business taxes

21 Feb 2022

Business Tax

HMRC

Image for fsb and tuc call chancellor change sick pay rules

Tax | FSB and TUC call on Chancellor to change sick pay rules

Frances O’Grady and Martin McTague have sent a joint letter to the Chancellor demanding action on sick pay and support for employers as annual cost to small firms nears £5bn

21 Feb 2022

Employment Tax

Tax Compliance

Image for armstrong watson acquires grants accountants

Business | Armstrong Watson acquires Grants accountants

Armstrong Watson has acquired Leeds-based Grants Chartered Accountants in its aim to be the ‘go to accountancy firm’ for family and owner-managed businesses across the north

21 Feb 2022

Image for frcs questioning use bame be welcomed

Business | FRC’s questioning the use of ‘BAME’ is to be welcomed

The accountancy profession needs to consider how it measures diversity and the use of language to ensure opportunities for all. Julie Matheson and Shannett Thompson, partners at law firm Kingsley Napley, consider the latest developments

18 Feb 2022

Careers

Leadership & Management

Image for help buy isa paid out ps674m bonuses

Tax | Help to Buy ISA paid out £674m of bonuses

The Help to Buy ISA scheme has helped fund 460,567 property purchases with bonuses totalling £674m since its introduction in 2015

18 Feb 2022

Property Tax

Image for boss banned unexplained ps4m turnover

Business | Boss banned for unexplained £4m turnover

A construction company director has been banned for seven years after failing to maintain adequate accounting records which meant that £4m of income could not be explained

18 Feb 2022

Called to Account

Image for bkd and dhg merger creates us accounting giant

Business | BKD and DHG merger creates US accounting giant

US accounting firms BKD and DHG plan to merge to create a new top 10 firm with $1.4bn (£1.03bn) in revenue, giving its UK arm more growth potential

18 Feb 2022

Careers

Leadership & Management

Image for redcentric directors convicted falsifying accounts

Finance | Redcentric directors convicted for falsifying accounts

Two former finance bosses at Redcentric have been found guilty with one jailed after providing false accounting statements to auditors PwC to mislead investors

18 Feb 2022

Following a trial, HMRC will now be temporarily closing the VAT and corporation tax phonelines on several days across February and March to help the tax authority deal with a covid post backlog

17 Feb 2022

HMRC

Image for covid grants must be reported company tax returns

Tax | Covid grants must be reported on company tax returns

HMRC is reminding accountants that coronavirus grants and payments to support businesses during the pandemic are taxable, and must be included on annual corporate tax returns

17 Feb 2022

Business | Lack of regulatory oversight of crypto, warns FSB

Crypto-asset markets could reach a point where they represent a threat to global financial stability due to their scale, structural vulnerabilities and increasing interconnectedness with the traditional financial system, warns Financial Stability Board (FSB)

17 Feb 2022

Companies

Image for hmrc spending data specialists hits ps12m

Tax | HMRC spending on data specialists hits £12m

HMRC has tripled its spending on its data specialist staff with an annual spend of £12.4m in 2021

17 Feb 2022

HMRC

Image for returning nhs staff given reprieve over pensions

Finance | Returning NHS staff given reprieve over pensions

Doctors and nurses who returned to work in the NHS during the pandemic will be able to continue working without damaging their pension status until October

17 Feb 2022

Pensions

Image for ps60k theatre tax relief claim rejected

Tax | £60k theatre tax relief claim rejected

A theatre company’s claim for theatre tax relief of £60,506 has been rejected because the admission for the show was part of the whole theme park experience and not just for the performance

17 Feb 2022