Business &amp; Accountancy Daily

Restructuring & Insolvency

Image for kate middletons parents party business goes bust

Tax | Kate Middleton’s parents’ party business goes bust

Party Pieces Holdings, the event specialist company owned by Kate Middleton’s parents, has gone bankrupt after significant financial difficulties

9 Jun 2023

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Tax | Tax tribunal backlog hits 55k cases

Taxpayers are in limbo as the Ministry of Justice has revealed a backlog of 50,000 unresolved tax cases at the First Tier Tribunal (FTT)

9 Jun 2023

HMRC

Tax Compliance

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Business | Auditor shortage forces Azets to recruit overseas

Azets has expanded its audit team with the appointment of 33 permanent auditors from across Africa under a new international recruitment scheme

9 Jun 2023

Auditing

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Tax | Wigan Athletic handed transfer embargo for HMRC issues

Wigan Athletic football club have fallen under a transfer embargo for conflicting with English Football League (EFL) rules related to tax owed to HMRC

9 Jun 2023

HR | People in the news: RSM, Cooper Parry, Johnston Carmichael

In this week’s accountancy career moves, partner promotions and hires at RSM, Cooper Parry, Moore Kingston Smith, Johnston Carmichael, PwC, Alvarez & Marsal, Shakespeare Martineau, Irwin Mitchell

9 Jun 2023

Careers

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Business | ReSolve appointed administrator to London Irish

ReSolve Advisory has been hired as administrator of London Irish Rugby Club, following its fall into administration this week

9 Jun 2023

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Tax | Oil and gas windfall tax could be scrapped

The energy profits levy, which puts a marginal tax rate of 75% on North Sea oil and gas production, will remain in place for the next five years unless prices drop

9 Jun 2023

Business Tax

Politics

Image for self assessment tax helpline closed three months

Tax | Self assessment tax helpline closed for three months

HMRC is planning to close the self assessment tax helpline for three months over the summer to focus call centre resources on dealing with other problem calls

8 Jun 2023

Business | Action on error and fraud is 'too little too late'

The UK’s fight against fraud is a case of ‘too little too late’ with lessons to learn from the US approach, argue Andrew Durant, senior managing director and Gareth Eklund, senior consultant at FTI Consulting

8 Jun 2023

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Tax | A quick guide to the changes around P11Ds

Payroll experts at CIPP explain the key changes to P11Ds with tips and advice on how to complete the annual employee expenses returns online

8 Jun 2023

Employment Tax

Tax Compliance

Image for plumbing contractor loses ps18k vat appeal

Tax | Plumbing contractor loses £18k VAT appeal

A company director has lost a First Tier Tribunal (FTT) appeal against VAT assessments and penalties for £18,681

8 Jun 2023

Tax | HMRC app now available in Welsh

The HMRC app has been updated to give access to most tax services on the platform in Welsh for the first time

8 Jun 2023

Tax | HMRC launches VAT self service time to pay

HMRC has confirmed that businesses can now set up a payment plan online if they owe less than £20,000 in unpaid VAT

8 Jun 2023

VAT

Tax Compliance

Image for fca plans cooling period crypto buyers

Business | FCA plans cooling off period for crypto buyers

Any companies selling cryptoassets to UK consumers will need to introduce a 24-hour cooling off period for first time investors from 8 October 2023

8 Jun 2023

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Business | Mark Rhys becomes ICAEW president

ICAEW has named Mark Rhys as ICAEW president for 2023/24, replacing Julia Penny who has just completed her year in the post

8 Jun 2023

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Business | London Irish files for administration

London Irish rugby club has filed for administration after being suspended from the Premiership, following weeks of financial turmoil

8 Jun 2023

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Business | Recruitment slowdown persists in May

The hiring slowdown has continued into May with employers taking on more temporary workers rather than permanent staff

8 Jun 2023

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Finance | FRS 102 & FRS 105: provisions and contingencies

Benjamin Smith FCA explains the accounting requirements for the recognition of provisions under FRS 102 and FRS 105 accounting standards

7 Jun 2023

Business | Woking council goes bankrupt with £1.9bn debt

Woking Borough Council has declared itself bankrupt after the local authority’s debt reached £1.9bn following heavy investments and a stack of unaudited accounts

7 Jun 2023

Image for hmrc loses ps300k tax case over paddock

Tax | HMRC loses £300k tax case over paddock

A homeowner has won a First Tier Tribunal (FTT) appeal over a disputed stamp duty land tax (SDLT) bill related to use of a paddock

7 Jun 2023

Business | Fake companies caught in £500k covid loan fraud

More than 10 sham companies that fraudulently claimed over £500,000 in bounce back loans have been shut down by the Insolvency Service

7 Jun 2023

Tax | Public trust in HMRC falls to lowest level

The UK public continue to lose trust in HMRC as it opens fewer tax enquiries and prosecutes far fewer people for tax evasion, warns the Fair Tax Foundation

7 Jun 2023

Business | One in four UK business owners fast track their exit strategies

Two in three UK business owners are currently considering an exit strategy as fears grow about higher taxes depending on the result of a 2024 general election

7 Jun 2023