Business &amp; Accountancy Daily

Charities

Image for pwc removes 21 pass rate graduate roles

Business | PwC removes 2:1 pass rate for graduate roles

PwC, one of the UK’s largest graduate employers, has opened up its recruitment with the removal of the 2:1 degree requirement for all its undergraduate and graduate roles

15 Aug 2022

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Business | World’s first Excel NFT goes on sale

In a first for the NFT market, artist Saif Ali has created five five pieces of art using Excel, now on sale

15 Aug 2022

Charities

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Tax | Accountancy school loses £780k VAT dispute

A London based accountancy school has lost an appeal at tribunal over a disputed VAT bill relating to tuition fees when it went into administration

15 Aug 2022

Tax | More staff for HMRC Newcastle customer service team

HMRC is recruiting 100 full-time customer service staff at its base in Newcastle as service levels continue to fall below standards expected by accountants and tax agents

15 Aug 2022

Tax | Three alternatives to a pay rise

As inflation rises and the cost of living crisis bites, accountancy firms could consider alternatives to pay rises with share schemes as one option

15 Aug 2022

Employment Tax

Tax Planning

Image for frc consults 2023 accounting taxonomy

Finance | FRC consults on 2023 accounting taxonomy

The FRC has published a draft version of the 2023 taxonomy for accounting standards which makes key changes to interim reporting and filleted accounts

15 Aug 2022

Finance

Audit Consultations

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Business | How to retain accountancy staff - tips and advice

For smaller accountancy practices, an unexpected resignation could cause huge challenges. So, what can accountancy firms do to try and retain staff in the current climate, asks John Edwards, CEO of the Institute of Financial Accountants (IFA)

12 Aug 2022

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Business | Investment manager jailed for £19m fraud

Investment manager behind £100m no-win-no-fee fraud has been jailed for 14 years after using investors’ money to fund luxury lifestyle

12 Aug 2022

Called to Account

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Tax | HMRC raises late payment interest from 23 August

Following the latest increase in the Bank of England base rate to 1.75%, HMRC will raise interest rates on late tax bills by 0.5%

12 Aug 2022

HMRC

Tax Compliance

Image for ifrs 9 exemption local authorities under review

Finance | IFRS 9 exemption for local authorities under review

The government is consulting on plans to extend a statutory exemption on certain aspects of asset reporting under IFRS 9 Financial Instruments by public authorities

12 Aug 2022

Finance

Audit Consultations

Image for people news old mill deloitte pwc rsm interpath

HR | People in the news: Old Mill, Deloitte, PwC, RSM, Interpath

In this week’s accountancy career moves, partner promotions at RSM, PwC and Interpath, real estate specialist at Deloitte, audit chief at Grant Thornton and raft of promotions at Old Mill

12 Aug 2022

Business | Growth contracted by 0.1%

GDP fell by 0.1% in June 2022 as the impact of the Jubilee bank holidays weighed on growth figures, although business investment held up

12 Aug 2022

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Business | One in four accountants criticise poor training

Accountants are leaving the profession in record numbers, with over a quarter (28%) feeling like they lack the proper training to do their job

12 Aug 2022

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Business | Class barriers dominate finance sector

Employees from professional backgrounds are 43% more likely to be working in senior level jobs across financial services and the accountancy sector compared to their working-class peers

12 Aug 2022

Tax | HMRC warning on how to spot umbrella companies

HMRC has updated guidance on how to spot a fraudulent umbrella company abusing the VAT flat rate scheme and employment allowance to avoid taxes

12 Aug 2022

Tax | Shrinking the VAT gap is futile without digital change

As tax complexities increase, current processes need overhauling to reduce the error level and close the tax gap, warns Peter Boerhof, VAT director, Vertex

11 Aug 2022

VAT

Tax Compliance

Tax | HMRC redesigns PSA1 form for PAYE

PSA1 forms are going digital after HMRC recently completed a review of customer feedback from employers who use PAYE Settlement Agreements

11 Aug 2022

Employment Tax

Tax Compliance

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Tax | Over 650,000 bonuses paid through ISA scheme

So far this year over £35m of bonuses have been paid out to first-time buyers purchasing over 17,500 properties

11 Aug 2022

Property Tax

Image for azets acquires medical accountants sandisons

Business | Azets acquires medical accountants Sandisons

Azets has agreed a deal to acquire Sandisons in Dorset, a specialist provider of medical accounting services

11 Aug 2022

Image for director ps360k gold trading investment scam banned

Business | Director of £360k gold trading investment scam banned

Investors lost £360,000 after a gold trading venture, Sutter Capital Ltd promised annual returns between 15% and 22%, but failed to return any gains or keep adequate accounting records

11 Aug 2022

Called to Account

Image for welsh charities need release ps12m dormant funds

Finance | Welsh charities need to release £12m in dormant funds

The Charity Commission and Community Foundation Wales is warning that charities have up to £12m in dormant funds which could be accessed to use for charitable causes

11 Aug 2022