Business & Accountancy Daily

Latest news

Image for beating barriers esg implementation

Finance | Beating the barriers to ESG implementation

As environment, social and governance (ESG) reporting moves up the agenda, it is crucial for SMEs to be able to access their ESG data easily and affordably. Marc Lepere, CEO of ESGGen explains the easy steps to get started

9 Feb 2023

Financial Reporting

Image for hmrc loses appeal over ps900k tax bill

Tax | HMRC loses appeal over £900k tax bill

A director has won a First Tier Tribunal (FTT) appeal against a personal liability notice (PLN) for £900,000 related to VAT transactions HMRC considered to be fraudulent

9 Feb 2023

Law and Regulation

Called to Account

Image for more flexibility planned scottish 6 property surcharge

Tax | More flexibility planned for Scottish 6% property surcharge

Scotland is reviewing the tax on second property purchases to give buyers longer to reclaim additional dwelling supplement if they own two houses temporarily

9 Feb 2023

Image for former mp jailed ps52k fraud

Tax | Former MP jailed for £52k fraud

A disgraced MP has been jailed for four years after trying to claim £52,000 of parliamentary expenses through a ‘fictitious’ autism charity

9 Feb 2023

Law and Regulation

Called to Account

Image for cpd module taxation dividends

Tax | CPD module: taxation of dividends

In this month's exclusive Accountancy Daily CPD module, we provide an overview of the taxation of dividends and distributions, how the tax is charged and reporting requirements

9 Feb 2023

Image for scottish higher rate taxpayers ps15k worse

Tax | Scottish higher rate taxpayers £1.5k worse off

The tax and benefits system is more progressive in Scotland than the rest of the UK, but higher earners pay thousands more in tax

9 Feb 2023

Image for high hmrc repayment interest rates are unfair

Tax | High HMRC repayment interest rates are ‘unfair’

Excessively high HMRC repayment interest rates are ‘unfair’ and should be reviewed, said Chartered Institute of Taxation (CIOT)

9 Feb 2023

Image for social media encryptor jailed ps19m cyber fraud

Business | Social media encryptor jailed for £1.9m cyber fraud

A 21-year-old has been sentenced for operating an encrypted social media platform to steal more than £1.9m from victims

9 Feb 2023

Accountancy Firms

Called to Account

AI & Technology

Image for one five academy school trusts deficit

Business | One in five academy school trusts in deficit

Nearly all heads of academy school trusts are concerned about financial pressures while there are growing deficits as reserves are depleted

9 Feb 2023

Accountancy Firms

Image for icaew calls taskforce tackle hmrc underperformance

Tax | ICAEW calls for taskforce to tackle HMRC underperformance

Ministers must set up a taskforce to deal with the unacceptable delays and clear the backlog at HMRC, says ICAEW

9 Feb 2023

8 Feb 2023

Image for engagement letters line defence

Business | Engagement letters: line of defence

Engagement letters set out the terms of the business relationship between accounting firm and client. Benjamin Smith FCA and Rachel Farris FCA CTA provide tips and advice on their contents

8 Feb 2023

Accountancy Firms

Image for banks paid ps44bn defaulted bounce back loans

Business | Banks paid £4.4bn for defaulted bounce back loans

More than 7% of bounce back loans are in arrears, while banks have claimed billions from the government in compensation for defaulted loans

8 Feb 2023

Accountancy Firms

Image for evelyn partners snaps leathers llp

Business | Evelyn Partners snaps up Leathers LLP

Evelyn Partners has acquired Leathers LLP, a firm of chartered accountants and tax specialists with offices in Newcastle and Harrogate

8 Feb 2023

Accountancy Firms

Leadership & Management

Image for businessman must repay ps600k unpaid tax

Tax | Businessman must repay £600k in unpaid tax

A Scottish businessman who hid cash in thousands of envelopes has been ordered to pay back £600,000 after the seizure of £1m from several bank accounts

8 Feb 2023

Called to Account

Image for liberty steel customer aartee bright bar collapses

Business | Liberty Steel customer Aartee Bright Bar collapses

Aartee Bright Bar, a major customer for Sanjeev Gupta’s Liberty Steel, has gone into administration, putting more than 250 jobs at risk

8 Feb 2023

Accountancy Firms

Restructuring & Insolvency

Image for tax avoidance promoter alpha flagged

Tax | Tax avoidance promoter Alpha flagged

HMRC has warned taxpayers to be ultra cautious when using umbrella companies as another recruitment agency fails to tax full employee earnings

8 Feb 2023

Called to Account

Image for temporary staff hires rise due uncertain outlook

Business | Temporary staff hires rise due to uncertain outlook

Cost pressures and ongoing economic uncertainty dampened permanent staff hiring at the start of 2023, shows latest KPMG and REC jobs report

8 Feb 2023

Accountancy Firms

Image for uk mulls plan digital pound 2030

Tax | UK mulls plan for digital pound by 2030

The Treasury and Bank of England is consulting on plans to enter the crypto market with a digital pound for consumer and business use

8 Feb 2023

Image for hmrc appeal giant marshmallow case

Tax | HMRC to appeal giant marshmallow case

HMRC plans to appeal a decision over a £472,928 VAT bill relating to the tax tribunal’s decision to treat giant marshmallows as zero rated

8 Feb 2023

Law and Regulation

7 Feb 2023

Image for taxpayers pay more fiscal drag accelerates

Tax | Taxpayers pay more as fiscal drag accelerates

The impact of fiscal drag as thousands of taxpayers are dragged into higher rate tax are a cause for concern, says Dominic Bourquin, partner for tax consultancy and corporate finance, at Monahans

7 Feb 2023

Image for asian buffet owner loses ps78k vat appeal

Tax | Asian buffet owner loses £78k VAT appeal

An Asian buffet company has lost a First Tier Tribunal (FTT) appeal against a tax demand from HMRC related to undisclosed VAT and corporation tax returns

7 Feb 2023

Image for grant shapps head revamped energy department

Tax | Grant Shapps to head up revamped energy department

The Prime Minister Rishi Sunak has restructured four government departments with a shake-up of the business department as he prioritises energy stability

7 Feb 2023

Image for top 100 taxpayers paid ps52bn tax last year

Tax | Top 100 taxpayers paid £5.2bn in tax last year

The top 100 taxpayers, including JK Rowling and the founder of Wetherspoons, contributed nearly £5.2bn in tax in the UK last year

7 Feb 2023

Image for bp set pay ps583m windfall tax

Tax | BP set to pay £583m in windfall tax

Energy giant BP has reported bumper profits of $27.6bn (£23bn) as it sets aside funds for first windfall tax payment

7 Feb 2023

Image for baker tilly international reports record 46bn revenues

Business | Baker Tilly International reports record $4.6bn revenues

Accounting network Baker Tilly International has announced record revenues of $4.66bn (£3.8bn) for year end 31 December 2022

7 Feb 2023

Accountancy Firms

Leadership & Management

Image for investment schemer jailed ps27m fraud

Business | Investment schemer jailed for £2.7m fraud

A fraudster who ran an investment fraud scheme with his wife has been jailed for nine years after stealing £2.7m from 175 known victims

7 Feb 2023

Accountancy Firms

Called to Account

Image for how smes can take control their tax and accounting

Tax | How SMEs can take control of their tax and accounting

Vicki Bracey, product manager at Mettle, discusses the importance of tax and accounting for small business owners, and how to prepare for the year ahead

7 Feb 2023