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Image for shining light intangibles reporting

Finance | Shining a light on intangibles reporting

Accounting for intangibles from goodwill to intellectual property rights needs to reflect the sustainable development agenda, argues Dr Janice Denoncourt, associate professor at Nottingham Law School

8 Dec 2022

Finance

Accounting Standards

Financial Reporting

Image for hmrc explains reasons phone system shutdown

Tax | HMRC explains reasons for phone system shutdown

An overnight IT update led to the failure of HMRC’s telephone systems with the critical customs transit system, general telephony and PAYE online services worst affected

8 Dec 2022

Tax

HMRC

Image for eu plans mandatory e invoices 2024

Tax | EU plans mandatory e-invoices from 2024

The EU is planning to introduce mandatory e-invoicing for businesses that operate cross-border, including third party countries like the UK

8 Dec 2022

Tax

VAT

Tax Compliance

Image for taxpayer wins hmrc dispute over higher rate child benefit

Tax | Taxpayer wins HMRC dispute over higher rate child benefit

A taxpayer has won a case at the Court of Appeal over HMRC’s use of discovery assessments to assess whether the higher rate child benefit charge was payable

8 Dec 2022

Tax

Personal Tax

Case Reports

Image for subway owner loses ps45k vat appeal

Tax | Subway owner loses £45k VAT appeal

A Subway franchisee has lost a First Tier Tribunal (FTT) appeal over a dispute with HMRC relating to incorrect VAT charges

8 Dec 2022

Business | Starting pay still on the rise for job seekers

Candidate shortages and economic uncertainty weighed on permanent job recruitment in November, according to KPMG and REC jobs report

8 Dec 2022

Business

Companies

Accountancy Firms

Tax | One in four set to pay 40% tax rate

Another 742,000 workers could become 40% taxpayers next year due to the tax threshold freeze, pulling nearly a quarter of taxpayers into higher rate tax

8 Dec 2022

Tax | Top 100 Group companies paid £81.5bn in tax

Some of the UK’s largest 100 companies paid £81.5bn in tax during the 2021/22 financial year, according to a PwC study

8 Dec 2022

Finance | Tips and advice: UK GAAP and IFRS year end accounting

Rachel Farris FCA CTA and Sarah Baxendale FCA explain the critical issues to bear in mind when completing accounts for December 2022 year end reporters

7 Dec 2022

Business | KPMG UK fined $2m after staff cheat in tests

The US audit regulator has fined KPMG UK $2.6m (£2.14m) over failures to prevent cheating on tests for mandatory internal training courses and use of non-affiliated firms in Romania

7 Dec 2022

Business

Accountancy Firms

Careers

Leadership & Management

Image for plymouth and south devon freeport gets green light

Tax | Plymouth and South Devon freeport gets green light

The Plymouth and South Devon freeport has received final government approval, with £25m in seed funding

7 Dec 2022

Tax

Budget

Image for third audits smaller firms require improvement

| Third of audits by smaller firms require improvement

The Financial Reporting Council (FRC) has announced new supervision measures to support smaller audit firms to improve their audit quality and share of the market

7 Dec 2022

Corporate Governance

Image for book place our hmrc rd enquiry webinar

Tax | Book a place on our HMRC R&D enquiry webinar

Find out more about how to deal with an HMRC enquiry at our webinar hosted by expert speaker Mark Doodney on 13 December

7 Dec 2022

Tax | Trump Organization faces $1.6m fine for tax fraud

The Trump Organization has been found guilty of criminal tax fraud after prosecutors accused the company of running a scheme to defraud tax authorities for 15 years

7 Dec 2022

Business | Director misled bank over turnover to get covid loan

Restaurant and fashion bosses have been banned for misconduct including bounce back loan abuse and failure to keep company accounts

7 Dec 2022

Business

Companies

Accountancy Firms

Restructuring & Insolvency

Image for avoid tax traps when giving money children

Tax | Avoid the tax traps when giving money to children

As the cost of living crisis intensifies, shoring up the financial future of your children and other young family members has never felt more important but beware the tax traps, explains Alice Haine, personal finance analyst at Bestinvest

6 Dec 2022

Tax | HMRC opens regional hub in Cardiff

Tŷ William Morgan, the HMRC regional hub in Cardiff, has been officially opened by David TC Davies MP, secretary of state for Wales

6 Dec 2022

Tax

HMRC

Image for clothing retailer loses ps190k tax dispute

Tax | Clothing retailer loses £190k tax dispute

The owner of a clothing business has lost an appeal in the First Tier Tribunal (FTT) against penalty assessments related to the submission of inaccurate VAT returns

6 Dec 2022