Business & Accountancy Daily

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Tax | What accountants want from the Budget

While a u-turn on corporation tax seems unlikely, there are calls to increase the profit limit to reduce the impact on smaller businesses and more certainty on business tax reliefs and capital allowances

10 Mar 2023

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Tax | Taxpayer ‘careless’ in £58k VAT penalty appeal

An export company made a careless error, not a deliberate one, in its VAT return, resulting in cancellation of £58,000 VAT penalty

10 Mar 2023

Law and Regulation

Image for wandisco discovers potential ps125m accounting fraud

| WANdisco discovers potential £12.5m accounting fraud

AIM listed tech company WANdisco has reported a major fraud related to revenue recognition in its accounts with up to $15m (£12.5m) of potentially fraudulent sales

10 Mar 2023

Corporate Governance

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Tax | Corporation tax hike will cut growth by £30bn

The chancellor’s plans for a corporation tax hike will make the UK a ‘significantly worse place to do business’

10 Mar 2023

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Business | AlixPartners snaps up restructuring firm

AlixPartners has acquired independent restructuring practice THM Partners LLP as all staff join the merger

10 Mar 2023

Accountancy Firms

Restructuring & Insolvency

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Business | GDP up 0.3% in January

The economy rebounded with 0.3% growth in January as school attendance figures rose and football returned after the World Cup

10 Mar 2023

Accountancy Firms

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Tax | HMRC warning to check super-deduction reporting errors

HMRC has sent letters to businesses advising them to check their super-deduction reporting to ensure they have not claimed for lease related transactions

10 Mar 2023

Accountancy Firms

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Business | Accountants sleep deprived due to workload

Heavy workloads and stressful jobs are keeping accountants awake at night as nearly half reported difficulty sleeping following worries about work

10 Mar 2023

Accountancy Firms

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HR | Accountants show financial resilience

Inflation and the cost of living crisis are big concerns for accountants, but they demonstrate high levels of financial resilience and risk awareness, says Olly Cheng, associate director of Saunderson House

10 Mar 2023

Leadership & Management

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HR | People in the news: Deloitte, KPMG, Wylie & Bisset

In this week’s accountancy career moves, partner promotions and hires at Deloitte, KPMG, Milsted Langdon, Wylie & Bisset, CLA Global, Co-op and HMRC

10 Mar 2023

Leadership & Management

9 Mar 2023

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Tax | Use it or lose it – year end tax tips

With less than a month to go before the end of the tax year, there are some essential tax saving measures that people can take before the tax year ends on 5 April

9 Mar 2023

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Business | Private equity firm invests in Moore Kingston Smith

Moore Kingston Smith has secured external investment from private equity firm, Waterland, to fund acquisitions, although it did not disclose the amount of investment

9 Mar 2023

Accountancy Firms

Leadership & Management

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Business | EY stops plan to split firm as ‘reworking’ proposal

EY has halted plans to go ahead with a partnership vote on proposals to split the global firm into two entities focusing on audit and consulting

9 Mar 2023

Accountancy Firms

Leadership & Management

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Tax | Former accountant submitted £24k fake EIS claims for client

A taxpayer has won an appeal after his former accountant fraudulently claimed enterprise investment scheme relief (EIS) without his knowledge

9 Mar 2023

Law and Regulation

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Business | FCA raids illegal operators of crypto ATMs

A crackdown on businesses illegally operating crytpo ATMs has seen several sites in East London raided

9 Mar 2023

Called to Account

Image for sheffield directors banned ps62k bounce back fraud

Business | Sheffield directors banned for £62k bounce back fraud

Two bosses from Sheffield have been banned for 17 years after hiking turnover to fraudulently claim bounce back loans of £62,000

9 Mar 2023

Accountancy Firms

Called to Account

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Business | Streets merges with Eadie Young Chartered Accountants

Top 40 accounting firm Streets has merged with Oxfordshire-based Eadie Young in fourth transaction in 12 months

9 Mar 2023

Accountancy Firms

Leadership & Management

Image for evelyn partners reports record ps600m fee income

Business | Evelyn Partners reports record £600m fee income

In a record year for rebranded Evelyn Partners, the firm reported revenues of £600.8m for year end 2022, up 7% from £560.8m the previous year

9 Mar 2023

Accountancy Firms

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Business | Excello Law launches in Nottingham with insolvency team

National consultancy law firm Excello Law has opened an office in Nottingham and hired a team of insolvency experts to drive expansion

9 Mar 2023

Accountancy Firms

Restructuring & Insolvency

Leadership & Management

8 Mar 2023

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Tax | Dividend or bonus: what is most tax effective?

Tax changes mean that the choice between paying dividends or taking a bonus is narrowing, especially as corporation tax rises to 25% from April. Stephen Relf, content manager – tax at Croner-i, explains the pros and cons

8 Mar 2023

Image for hmrc clarifies guidance ir35 payroll working rules

Tax | HMRC clarifies guidance on IR35 off-payroll working rules

In line with IR35, HMRC has issued a set of guidance for off-payroll working for intermediaries and contractors providing services to small clients in the private or voluntary sectors

8 Mar 2023

Image for pwc fined ps56m after lack competence babcock audits

| PwC fined £5.6m after ‘lack of competence’ in Babcock audits

PwC and two former audit partners have been handed a multimillion pound fine for audits of Babcock which ‘fell far short of the standards expected of statutory auditors’

8 Mar 2023

Corporate Governance

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Business | Dormant assets worth £76m for vulnerable

Assets worth £76m lost in forgotten bank and building society accounts will be used to support vulnerable people as scheme extended to unclaimed life insurance and pension pots

8 Mar 2023

Accountancy Firms

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Business | HMRC fails to tackle £2.3bn furlough fraud

MPs have criticised HMRC’s performance in tackling Covid-19 support fraud, after recovering only £640,000 of an estimated £2.3bn in furlough payments fraudulently claimed by employers

8 Mar 2023

Accountancy Firms

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Business | Influencer pleads guilty to $1m Covid loan fraud

A social media influencer has agreed to pay back $1m in Covid-19 relief loans from the US government that she used to fund a lavish lifestyle that she flaunted on Instagram

8 Mar 2023

Accountancy Firms

Called to Account

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Business | Best in Business conferences launched

It’s not easy to make accountants happy, but that's what we did last year with Accountants in Business (AIB) events

8 Mar 2023

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Business | Glass ceiling prevents women reaching top of accountancy

As employers around the world today mark International Women’s Day, ACCA is emphasising the importance of flexible working and training in accelerating diversity

8 Mar 2023

Accountancy Firms

Leadership & Management

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Business | Women forced out of work by lack of affordable childcare

The UK has fallen five places in a global index of women’s employment outcomes as a lack of affordable childcare limits work options

8 Mar 2023

Accountancy Firms

Image for iia plans overhaul internal audit standards

Finance | IIA plans overhaul of internal audit standards

The Institute of Internal Auditors (IIA) is consulting on proposed changes to framework for the internal audit standards with a focus on ethics and scepticism

8 Mar 2023

Audit Consultations