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Business | Tips and advice on restructuring companies

Future threats can be mitigated and potentially avoided through proactive restructuring, and it is important to continually monitor the viability of a business, explains Niten Chauhan, partner at Harold Benjamin

5 Dec 2022

Business

Companies

Restructuring & Insolvency

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Tax | HMRC phone line closure resolved

HMRC has resolved the technical issue with its phone lines which saw services disrupted for four days

5 Dec 2022

Tax

HMRC

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Tax | £100k loan from pension scheme was 'contrived' tax avoidance

The anti-tax avoidance advisory panel has issued an opinion explaining that an unauthorised payment from a registered pension scheme was actually tax avoidance

5 Dec 2022

Tax

Personal Tax

Tax Compliance

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Business | Small businesses owed £23.4bn in late payments

The government plans a major review into tackling late payments for small businesses, with £23.4bn currently owed in outstanding invoices

5 Dec 2022

Business | Lack of socio-economic diversity on UK boards

Socio-economic background diversity on UK boards is lacking, and too few consider it as part of board recruitment and succession planning

5 Dec 2022

Business

Companies

Careers

Leadership & Management

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Tax | CBI calls for government action to support investment

The CBI is calling for more tax breaks for business with an extension of capital allowances to drive investment as the economy contracts

5 Dec 2022

Tax

Business Tax

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Tax | Tax tribunal backlog soars to 10,000

The backlog of tax tribunal cases waiting to be heard has hit 10,000 as HMRC pursues umbrella companies for unpaid tax

5 Dec 2022

Business | Rules on flexible working set for overhaul

Millions of workers will be able to request flexible working on day one of employment under government plans to make flexible working the default

5 Dec 2022

Business

Companies

Careers

Leadership & Management

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Tax | HMRC phone lines hit by IT outage

HMRC has technical problems with its phone lines which has seen telephone helplines closed for the last 24 hours

2 Dec 2022

Tax

HMRC

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HR | How to battle burnout in the accountancy world

Ed O’Connell, MD of professional services at Search, discusses the high stress levels within accountancy and the steps firms can take to help tackle the issue

2 Dec 2022

Business

Careers

Leadership & Management

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Business | US TV stars jailed for $30m tax and loan fraud

Reality TV stars Todd and Julie Chrisley have been sentenced to 12 and seven years, respectively, after a jury convicted them of bank and tax fraud

2 Dec 2022

Business

Called to Account

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Tax | One in four not ready for 15% base corporation tax

One in four tax professionals have not started to prepare for the 15% base corporation tax rate which is due to come into effect in 2024

2 Dec 2022

Tax

Business Tax

International Tax

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Finance | UKEB endorses minor amends to IAS 1, 8, 12

The UK Endorsement Board has approved minor scope amendments to three accounting standards, including IAS 12 Income Taxes

2 Dec 2022

Business | People in the news: Saffery Champness, Johnston Carmichael, Old Mill

In this week’s accountancy career moves, partner promotions and hires at Saffery Champness, Johnston Carmichael, Evelyn Partners, Gerald Edelman, Kreston Reeves, UHY East

2 Dec 2022

Business

Accountancy Firms

Careers

Leadership & Management

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Business | Overseas property owners must sign up to Companies House register

Companies House is issuing an urgent reminder to overseas entities that own property in the UK to sign up to the register of overseas entities

2 Dec 2022

Business

Companies

Accountancy Firms

Image for average hmrc call wait time 14 minutes

Tax | Average HMRC call wait time 14 minutes

The average caller to HMRC had to wait 14 minutes to speak to an adviser while one in four callers abandoned their calls in October

2 Dec 2022

Tax

HMRC

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Business | Majority of Gen Z want to set up a business

Two thirds of 16 to 25 years old workers have either started their own business or aspire to do so in 2023 compared to nearly a third of people overall

2 Dec 2022

Business

Companies

Careers

Image for next steps save joules ps41m deal

Business | Next steps in to save Joules in £41m deal

Fashion giant Next has acquired Joules, saving the fashion brand from insolvency and bringing in company founder to refocus retail business

1 Dec 2022

Business

Companies

Restructuring & Insolvency

Finance | Legal updates: December 2022

In this month’s round-up of cases, Sophie Brookes and Debbie Shaw of Gateley examine decisions on shareholder agreements in Compound Phototonics, buyer's warranty in TP ICAP and electronic signatures

1 Dec 2022

Finance

Law and Regulation

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Finance | Attempts to expand auditor choice ‘failing’

Five years since the Competition & Market Authority review of the audit market, there has been glacial change in the level of competition among audit firms

1 Dec 2022

Auditing

Corporate Governance

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Tax | Filing deadlines: December 2022 - March 2023

The latest tax filing deadlines from VAT returns and payments due for month or quarter ended 31 October 2022 and amending corporation tax returns for accounting periods ending 31 December 2020

1 Dec 2022

Tax

Tax Compliance

Tax Planning

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Tax | Director faces £2m tax bill over royalty payments

A director has lost an appeal at a First Tier Tribunal (FTT) after failing to meet an appeal deadline regarding income tax payments

1 Dec 2022

Tax

Personal Tax

Case Reports

Image for taxpayers lose ps391m unclaimed hmrc deposits

Tax | Taxpayers to lose £391m in unclaimed HMRC deposits

Nearly £400m in ‘unallocated’ deposits from taxpayers using a certificate of tax deposit (CTD) scheme are at risk of being confiscated by HMRC

1 Dec 2022

Tax | VAT updates: December 2022

In this month’s VAT round-up, Graham Elliott explains the zero rating decision on children’s face masks and the intricacies of the reverse charge for construction businesses on scaffolding

1 Dec 2022

Tax

VAT

Image for investors duped out ps8m care home scheme

Business | Investors duped out of £8m in care home scheme

A director has been banned for a decade after he secured investments to fund a scheme to build care apartments despite not having planning permission

1 Dec 2022

Business

Called to Account

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Business | DSW Capital reports record £9.8m half year revenue

AIM listed DSW Capital, owner of accounting network Dow Schofield Watts, has reported a 34.5% increase in revenue for the last six months

1 Dec 2022

Business

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Latest news

Business | Tips and advice on restructuring companies

Tax | HMRC phone line closure resolved

Tax | £100k loan from pension scheme was 'contrived' tax avoidance

Business | Small businesses owed £23.4bn in late payments

Business | Lack of socio-economic diversity on UK boards

Tax | CBI calls for government action to support investment

Tax | Tax tribunal backlog soars to 10,000

Business | Rules on flexible working set for overhaul

Tax | HMRC phone lines hit by IT outage

HR | How to battle burnout in the accountancy world

Business | US TV stars jailed for $30m tax and loan fraud

Tax | One in four not ready for 15% base corporation tax

Finance | UKEB endorses minor amends to IAS 1, 8, 12

Business | People in the news: Saffery Champness, Johnston Carmichael, Old Mill

Business | Overseas property owners must sign up to Companies House register

Tax | Average HMRC call wait time 14 minutes

Business | Majority of Gen Z want to set up a business

Business | Next steps in to save Joules in £41m deal

Finance | Legal updates: December 2022

Finance | Attempts to expand auditor choice ‘failing’

Tax | Filing deadlines: December 2022 - March 2023

Tax | Director faces £2m tax bill over royalty payments

Tax | Taxpayers to lose £391m in unclaimed HMRC deposits

Tax | VAT updates: December 2022

Business | Investors duped out of £8m in care home scheme

Business | DSW Capital reports record £9.8m half year revenue