Business &amp; Accountancy Daily

Tax Compliance

Business | Customs export system delayed, says HMRC

HMRC is giving exporters an additional eight months to sign up to the customs declaration service (CDS) as testing continues and rollout is delayed

21 Dec 2022

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Tax | Overseas property register will target offshore tax evaders

HMRC is planning to use the Register of Overseas Entities to target tax evaders who may be hiding funds offshore to reduce their tax bills

21 Dec 2022

Tax Compliance

Tax | HMRC raises late payment interest from 6 January

HMRC will raise interest rates on tax debt from 6 January following the latest 0.5% increase in the Bank of England base rate

21 Dec 2022

Tax Compliance

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Business | Scholes CA merges with A9 Bower + Smith

Scottish accountancy firm Scholes CA has merged with Aberdeen based A9 Bower + Smith

21 Dec 2022

Careers

Leadership & Management

Tax | Tax take down £5.3bn on October

Tax receipts were down in November from £63.8bn to £58.5bn with inheritance tax continuing to rise by 16%

21 Dec 2022

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Business | FRC ‘deeply concerned’ about exam cheating

The Financial Reporting Council (FRC) has updated stakeholders on its review to identify and prevent exam cheating at audit firms

21 Dec 2022

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| AIM listed Induction hires Crowe as auditor

AIM listed Induction, a digital health platform, plans to drop KPMG as auditor with the appointment of Crowe UK LLP

21 Dec 2022

Corporate Governance

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Business | Fees for ARGA audit regulator must be ‘proportionate’

The audit regulator has set out the rationale for future funding requirements once the body is relaunched as the Audit Reporting and Governance Authority (ARGA)

21 Dec 2022

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Tax | Homeowner wins £212k stamp duty appeal

An individual has won a First Tier Tribunal (FTT) appeal against a demand from HMRC over disputed stamp duty land tax (SDLT) payments

21 Dec 2022

Tax | Making Tax Digital for income tax delayed until 2026

The government has delayed the introduction of Making Tax Digital (MTD) for income tax for landlords and self employed by two years until 2026 and raised the threshold

20 Dec 2022

Making Tax Digital

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Tax | Accountants blame lack of testing for MTD delay

The decision to delay the rollout of Making Tax Digital for income tax until 2026 could signal complications with the reporting system and lack of effective trials

20 Dec 2022

Tax | Alcohol duty freeze extended

There is a small respite for the hospitality sector as the freeze to UK alcohol duty rates has been extended six months to 1 August 2023

20 Dec 2022

Business Tax

Budget

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Business | Clerk jailed for £5.2m Church of England fraud

An official has been jailed for five years after defrauding the Church of England out of £5.2m and spending the profits on a lavish lifestyle

20 Dec 2022

Law & Guidance

Called to Account

Tax | Spring Budget set for 15 March

The Treasury has confirmed that the Spring Budget will be held on 15 March 2023

20 Dec 2022

Budget

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Business | £600 energy payment for Northern Ireland homes

All households in Northern Ireland will receive a single £600 payment to help with their bills, with payments starting in January 2023

20 Dec 2022

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Finance | Audit firms banned from working for Russian companies

Auditors have been barred from providing audit services to Russian companies until at least July 2023

20 Dec 2022

Auditing

Corporate Governance

Audit Regulations

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Business | King Charles III bank notes due in 2024

The King Charles III bank note designs have been revealed by the Bank of England, which are likely to enter circulation in 2024

20 Dec 2022

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Finance | Tips and advice: how to improve your charity accounts

Sayer Vincent’s Fleur Holden and Vivien Ma explain how to create an excellent annual report that brings your charity accounts to life

19 Dec 2022

Charities

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Business | Care home insolvencies jump 59%

Insolvencies involving residential care businesses have jumped 59% in the past year, as many struggle to deal with mounting servicing costs and energy bills, warned Mazars

19 Dec 2022

Restructuring & Insolvency

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| FRC audit inspections will focus on fraud and going concern

The Financial Reporting Council (FRC) will focus on going concern, fraud risks and climate related issues in the next cycle of audit inspections

19 Dec 2022

Corporate Governance

Business | FTSE 100 audit fees hit £1bn

Fees paid to auditors by FTSE 100 companies have broken through the £1bn threshold for the first time this year, from £975.38m in 2021, according to research by Thomson Reuters

19 Dec 2022

Auditing