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Business | Blockchain: the future of accountancy

With digital transformation has come the rapid rise of blockchain technology, but what does it mean for the future of accounting? John Edwards, CEO of the Institute of Financial Accountants (IFA) looks at how blockchain technology is disrupting the sector

14 Mar 2022

Accountancy Firms

AI & Technology

Image for care director banned ps296k unpaid tax

Business | Care director banned for £296k of unpaid tax

A boss of a Southend care provider company has been banned for five years after owing HMRC around £296,000 in unpaid tax

14 Mar 2022

Called to Account

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Business | PwC expands entry routes for non graduates

PwC is launching a tech degree apprenticeship programme working with Ada, the National College for Digital Skills

14 Mar 2022

Accountancy Firms

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Business | 17% rise in whistleblower reports

The Serious Fraud Office (SFO) has reported a 17% increase in whistleblower reports in the last year

14 Mar 2022

Accountancy Firms

Image for 10 year director ban ps40k covid fraud

Business | 10-year director ban for £40k Covid fraud

A mobile mechanic has been disqualified from being a company director for 10 years after he fraudulently took a £40,000 bounce back loan (BBL)

14 Mar 2022

Called to Account

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Business | Troubled Finablr goes into administration

Global payments provider Finablr plc has gone into administration with PKF GM appointed to handle the search for an alternative buyer

14 Mar 2022

Restructuring & Insolvency

Image for treasury collects ps4m extra day fuel vat

Tax | Treasury collects £4m extra a day in fuel VAT

Since the beginning of 2022, the Treasury has collected nearly £4m extra a day in fuel VAT due to the increasing price of petrol which totals an extra £270m so far this year

14 Mar 2022

Image for listed cake box cfo resigns after accounting errors

Finance | Listed Cake Box CFO resigns after accounting errors

Following accounting errors related to inventory reporting earlier this year, the chief financial officer of AIM listed Cake Box has resigned

14 Mar 2022

Financial Reporting

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| Chancellor calls on firms to stop investing in Russia

The Chancellor has called on UK firms to ‘think very carefully’ about any investments that would support the Putin regime, in the wake of the invasion of Ukraine

14 Mar 2022

Corporate Governance

Accountancy Firms

11 Mar 2022

Image for personal tax planning tips year end

Tax | Personal tax planning tips for year end

There are now less than two months until the end of the tax year, so Laura Suter, head of personal finance at AJ Bell, gives her guide to what people need to consider before the 5 April deadline

11 Mar 2022

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Tax | Rogue tax advisers will face tougher scrutiny

HMRC is planning to streamline its approach to tackling poor tax agent behaviour which is encouraging abuse of the tax system

11 Mar 2022

Image for mtd brings ps195m more tax

Tax | MTD brings in £195m more tax

An estimated £195m extra tax revenue has been brought in through businesses using Making Tax Digital (MTD) for VAT reveals research from HMRC

11 Mar 2022

Making Tax Digital

Image for director banned covid loan fraud

Business | Director banned for covid loan fraud

A company director has been banned for nine years after he deliberately exaggerated his company’s turnover to fraudulently secure a £50,000 Covid loan

11 Mar 2022

Called to Account

Image for kroll appointed administrators steptronic footwear

Business | Kroll appointed administrators for Steptronic Footwear

Footwear brand Steptronic has appointed business advisory firm Kroll as administrator, following supply chain challenges

11 Mar 2022

Restructuring & Insolvency

Image for people news bdo rbk pwc williamson croft

Business | People in the news: BDO, RBK, PwC, Williamson & Croft

In this week’s accountancy career moves, partner promotions at BDO, RBK, Williamson & Croft, PwC and Tilney Smith & Williamson, forensic lead for FRA, and tax director promotions at BKL and Thomas Westcott

11 Mar 2022

Accountancy Firms

Leadership & Management

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Business | 160 students to attend Spring into Deloitte

Deloitte will host a three-day introductory course for 160 undergraduate students this April to give them insight into career opportunities at the firm

11 Mar 2022

Accountancy Firms

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Business | BDO launches tech growth programme

BDO has launched its first growth programme aimed at supporting technology scale-up businesses

11 Mar 2022

Accountancy Firms

Image for payroll salaries rise 15 hybrid working expands

Business | Payroll salaries rise by up to 15% as hybrid working expands

Salaries for payroll jobs have risen by up to 15% as increased competition and talent shortages add to pressure on employers

11 Mar 2022

Accountancy Firms

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Business | ICAEW and HMRC release film on money laundering

ICAEW and HMRC have released a short film to show how easy it is for businesses to get caught up in financial crimes

11 Mar 2022

Accountancy Firms

10 Mar 2022

Image for ma audit risks implications hp and lynch litigation

| M&A audit risks – implications of HP and Lynch litigation

The recent High Court ruling on the Autonomy acquisition by HP raises serious considerations for auditors when working on mergers and acquisitions (M&As). Navdeep Shihn, commercial litigation lawyer at SA Law LLP, examines the preliminary judgment

10 Mar 2022

Corporate Governance

Image for taxpayer loses ps14m tax dispute over penalty

Tax | Taxpayer loses £1.4m tax dispute over penalty

The courts have ruled that a taxpayer had made ‘no reasonable excuse’ for not paying a £14m tax bill and has upheld the £1.4m penalties issued by HMRC

10 Mar 2022

Image for accountant sentenced ps73k vat fraud

Business | Accountant sentenced for £73k VAT fraud

An accountant has been given a suspended prison sentence of 21 months after trying to steal £73,000 worth of VAT repayments

10 Mar 2022

Called to Account

Image for treasury face avalanche bank claims

Business | Treasury to face ‘avalanche’ of bank claims

Former fraud minister Lord Agnew warns that the Treasury faces an ‘avalanche’ of claims from banks over the government’s guarantees on the Bounce Back Loans Scheme (BBLS)

10 Mar 2022

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Finance | Burke's Peerage Foundation faces probe into finances

The Charity Commission has opened a statutory inquiry into Burke’s Peerage Foundation over concerns about the charity, including its financial management

10 Mar 2022

Image for hmrc returns looted ancient statue libya

Tax | HMRC returns looted ancient statue to Libya

A 2,500-year-old statue that was smuggled into the UK and seized by HMRC has been returned to Libya

10 Mar 2022

Image for ps22bn needed tackle inflation and energy

Business | £22bn needed to tackle inflation and energy

The Chancellor will need to find an extra £22bn to spend to just keep public pay above inflation and to support households with the energy crisis

10 Mar 2022

Finance | Stewardship standards improve at companies, says FRC

The quality of stewardship at UK companies is improving as the Financial Reporting Council (FRC) adds more names to its list of signatories to the UK Stewardship Code

10 Mar 2022

Financial Reporting