Business &amp; Accountancy Daily

Companies

Image for ex hmrc officer swerves jail over ps56k fraud

Business | Ex-HMRC officer swerves jail over £56k fraud

A former HMRC official has been given a suspended sentence after siphoning taxpayers’ money into personal accounts

7 Jul 2022

Called to Account

Image for icaew completes restoration accountants hall

Business | ICAEW completes restoration of Accountants Hall

ICAEW’s Chartered Accountants Hall has been completely refurbished, following a major project overseen by conservation architects Donald Insall Associates, breathing new life into its unusual neo-baroque interiors

7 Jul 2022

Image for deloitte plans significant manchester expansion

Business | Deloitte plans significant Manchester expansion

Big Four firm Deloitte has agreed heads of terms for a 10-year lease for 43,000 sq ft of space at 100 Embankment, a new state-of-the-art office in Manchester

7 Jul 2022

Careers

Leadership & Management

Image for hmrc flags novus consultants over tax avoidance

Tax | HMRC flags Novus Consultants over tax avoidance

HMRC has updated the tax avoidance scheme promoters list, adding Novus Consultants, as it is operating an avoidance scheme to reduce tax bills for workers

7 Jul 2022

Finance | IASB to release IFRS for SMEs consultation in September

The International Accounting Standards Board (IASB) plans to simplify revenue recognition rules when it issues the consultation on IFRS for SMEs accounting standard

7 Jul 2022

Finance

IFRS

Image for ipo activity down 45 first half 2022

Business | IPO activity down 45% in first half of 2022

The number of IPO transactions in the first half of 2022 on the UK main market and AIM saw a collective 45% decrease in deal numbers and a 94% drop in proceeds compared to H1 2021

7 Jul 2022

Companies

Image for accounting critical judgments under ias 1

Finance | Accounting for critical judgments under IAS 1

Critical judgments are frequently raised as an issue by the Financial Reporting Council in its annual Corporate Reporting Reviews as they are not clearly identified or explained. Rachel Farris FCA CTA, Croner-i, summarises the requirements around judgments set out in IAS 1

6 Jul 2022

Tax | Rise in National Insurance threshold to £12,570 effective

The increase in the National Insurance contributions threshold came into effect from 4 July, cutting the tax by an average £330 per worker

6 Jul 2022

Employment Tax

Personal Tax

Image for hmrc defends service levels accountants

Tax | HMRC defends service levels for accountants

Following complaints from the professional bodies, including CIOT and ICAEW, HMRC has defended its service levels and committed to further staff recruitment to improve service standards

6 Jul 2022

HMRC

Image for chancellor rishi sunak resigns nadhim zahawi appointed

Tax | Chancellor Rishi Sunak resigns as Nadhim Zahawi appointed

Chancellor Rishi Sunak has resigned saying that it was not a decision that he took lightly, but he could not continue to support the prime minister

6 Jul 2022

Politics

Image for cottons accountants london acquires roberts co

Business | Cottons Accountants London acquires Roberts & Co

Cottons Accountants has acquired west London based accountancy firm, Roberts & Co as part of its plans to strengthen their presence in the London area

6 Jul 2022

Leadership & Management

| FRC Stewardship Code raises governance standards

Asset owners are monitoring their investment managers more closely as a result of the Stewardship Code, but onerous reporting requirements are a challenge

6 Jul 2022

Corporate Governance

Companies

Image for lack awareness cgt liability among crypto investors

Tax | Lack of awareness of CGT liability among crypto investors

More than half of investors in cryptocurrency have limited or no understanding of capital gains tax and associated tax liability on crypto transactions

6 Jul 2022

Tax | Sky Sports presenter Alan Parry loses £356k IR35 case

In the latest IR35 case, Sky Sports presenter Alan Parry faces a £356,420 tax bill after judge rules that his working arrangements were equivalent to employment contract

5 Jul 2022

Personal Tax

Case Reports

Image for return capital demerger tax efficient separation business activities

Tax | Return of capital demerger – tax efficient separation of business activities

A return of capital demerger can be a tax effective means of separating business activities, particularly in situations where another type of demerger is not possible. James Butterworth explains

5 Jul 2022

Business Tax

Tax Planning

Image for qa capital gains tax and non residents

Tax | Q&A: capital gains tax and non-residents

In this week’s Q&A, Croner-i tax adviser Julian Payne, considers the tax compliance issues for non-residents when facing capital gains tax on disposal of business assets

5 Jul 2022

Business | HMRC opens Leeds regional centre

HMRC has officially opened the Leeds Regional Centre and UK Government hub which will see over 4,000 staff located in a single site

5 Jul 2022