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Image for kreston reeves achieves carbon neutrality

Business | Kreston Reeves achieves carbon neutrality

Accountants Kreston Reeves has marked a major environmental benchmark, becoming officially carbon neutral

24 Feb 2022

Accountancy Firms

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HR | Student loan repayment to start at £25k

The level at which students begin to pay back their loans has been lowered from £27,295 to £25,000

24 Feb 2022

Careers

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Tax | Bonus scheme structured as tax avoidance

HMRC has won a landmark ruling in a long-running case over the use of a Growth Securities Ownership Plan (GSOP) which the tax authority argued was a tax avoidance scheme

24 Feb 2022

Personal Tax

Case Reports

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Business | ESG reporting for EU trading businesses from 2023

The EU is to impose mandatory sustainability reporting for large companies under its Corporate Sustainability Reporting Directive (CSRD)

24 Feb 2022

Business | Fraud levels rise by two thirds

The number of fraud cases worth over £100,000 rose from 166 in 2020 with a value of £110.3m, to a total of 285 in 2021 which is a 66% increase

24 Feb 2022

Accountancy Firms

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Tax | HMRC has lost 1,491 electronic devices

HMRC has recorded 1,491 electronic devices as being lost or stolen in the past five years

24 Feb 2022

HMRC

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Tax | Business property relief and investments

When making a claim for business property relief, it is important to ensure that it is related to business activity and not pure investment. Stephanie Webber, tax writer at Croner-i, examines the tax compliance issues

23 Feb 2022

Business | £20bn could be lost to Covid-19 fraud

The Public Accounts Committee (PAC) estimates that the cost of Covid-19 fraud across all support schemes could be as high as £20bn

23 Feb 2022

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| Private company reporting on corporate governance in its 'infancy'

Large private companies are starting to use the Wates Principles as a framework for their corporate governance reporting, but ‘disclosure practices are still in their infancy’

23 Feb 2022

Corporate Governance

Image for matalan founders ps84m tax case rejected

Tax | Matalan founder’s £84m tax case rejected

Matalan founder John Hargreaves’ appeal against an £84m discovery assessment from 2001 has been dismissed by the court

23 Feb 2022

HMRC

Case Reports

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

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 March 2022, keeping rates unchanged despite huge hikes in the cost of fuel at forecourts

23 Feb 2022

Business | Businesses call for Covid guidance

Businesses have criticised the government about the lack of guidance on how they can ensure workplace safety when all Covid-19 restrictions end

23 Feb 2022

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Finance | Endorsement board consults on due process handbook

The UK Endorsement Board (UKEB) has issued for comment a draft version of its Due Process Handbook setting out its guiding principles on accountability

23 Feb 2022

Finance

Audit Consultations

Image for student given bounce back loan non existent business

Business | Student given bounce back loan for non-existent business

A bankrupt student from Scunthorpe has been placed under nine years of restrictions after he abused government support available for businesses during the pandemic

23 Feb 2022

Called to Account

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Business | What impact has the pandemic had on insolvencies?

Extensive government support for businesses during the pandemic protected many companies from the threat of insolvency but loan repayments will shake up resilience, warns Steve Thomas, partner at Excello Law

22 Feb 2022

Restructuring & Insolvency

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Tax | Taxpayers footed tax bill for IR35 mistakes

HMRC’s Jim Harra confirmed to the Public Accounts Committee (PAC) that taxpayers do foot the tax bill for private contractors when government departments get their IR35 compliance wrong

22 Feb 2022

Employment Tax

HMRC

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Tax | Q&A: tax liability and high income child benefit charge (HICBC)

In this week’s Q&A, Croner Taxwise adviser Vivienne Cheung, explains the tax implications of the high income child benefit charge for anyone earning over £50,000 if they do not live with their partner

22 Feb 2022

Personal Tax

Tax Compliance

Image for four 10 ftse 100 board directors are women

Business | Four in 10 FTSE 100 board directors are women

Nearly 40% of UK FTSE 100 board positions are now held by women, compared with 12.5% a decade ago, but the CEO role remains male dominated

22 Feb 2022

Careers

Leadership & Management

Image for oecd consults tax base rules digital taxation

Tax | OECD consults on tax base rules for digital taxation

The OECD has launched a brief consultation over the draft rules for tax base determinations under Amount A of its pillar one rules to deal with digital taxation

22 Feb 2022

International Tax

Consultations

Tax | 4m people to pay higher tax rate

In the next three years, the number of people paying the higher rate of tax will almost double to 8.1m as thresholds are frozen

22 Feb 2022