Business &amp; Accountancy Daily

HMRC

Tax Compliance

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Finance | Charities: five steps to managing fraud risk

Instances of fraud are rising across charities so it is vital to have robust controls in place to protect the organisation, explains Arlene Clapham, senior risk and assurance manager, Sayer Vincent

17 Jul 2023

Charities

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Tax | Tax pain makes life difficult for landlords

Landlords of residential property may find themselves needing support as their forecasts and business plans might have been shredded by consecutive interest rate rises, warns Matthew Todd, manager at RSM

17 Jul 2023

Tax | Four in 10 callers to HMRC cannot get through

HMRC service levels continue to decline as only 61% of callers managed to get through to an adviser by phone in the latest performance report

17 Jul 2023

HMRC

Tax Compliance

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Business | Exit strategy: tips and advice on selling a business

The majority of businesses are exposing themselves to unnecessary risk by failing to plan their exit strategy, warns John Edwards, CEO of the Institute of Financial Accountants

17 Jul 2023

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Business | Hotter Shoes slides towards administration

The owners of the Hotter Shoes’ brand, Unbound Group plc, has warned it is about to appoint administrators after attempts to sell the business failed

17 Jul 2023

Restructuring & Insolvency

Image for second carillion finance chief banned directorships

Business | Second Carillion finance chief banned from directorships

The former group finance director of collapsed outsourcer Carillion plc, Richard Adam, has been disqualified from working as a director for 12 and a half years

17 Jul 2023

Called to Account

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Tax | Director loses £20k VAT appeal as paid four days late

A director has lost a First Tier Tribunal (FTT) appeal over a VAT default penalty issued by HMRC for £20,000 for a payment that was only four days late

17 Jul 2023

Business | MHA acquisition expands Welsh presence

Accountancy group MHA has strengthened its service offering in Wales through a merger with Cardiff based Watts Gregory Group

17 Jul 2023

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Tax | HMRC gives £1.8m to charities to help excluded taxpayers

The voluntary and community sector will be able to apply for grants to support their work with taxpayers who need extra assistance with their tax affairs

17 Jul 2023

HMRC

Tax Compliance

Tax | HMRC will only be paid £4m of Prezzo tax bill

The High Court has ruled that Prezzo Investco, owner of the Prezzo restaurant chain, can exercise a cram down which means that creditors, including HMRC, will not be paid in full

14 Jul 2023

Tax | Construction director jailed over £100k VAT fraud

A businessman has been jailed for 14 months after failing to pay a £100,000 tax bill since being charged for VAT fraud in September 2016

14 Jul 2023

Business | Accountancy firm websites offer poor user experience

The majority of accountancy firm websites do not stand out from their competitors with most offering a limited experience, limited mobile functionality and a poor user experience

14 Jul 2023

Business | People in the news: PKF Littlejohn, Mercer & Hole, Old Mill, ATT

In this week’s accountancy career moves, partner promotions and hires at PKF Littlejohn, Grant Thornton, RSM, Mercer & Hole, Dains, Old Mill, Kilsby Williams

14 Jul 2023

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Business | Over four million UK adults have used AI at work

More than four million people in the UK have used generative artificial intelligence (AI) at work, despite the risks in accuracy and many not informing their employers

14 Jul 2023

Business | Moore Kingston Smith snaps up Irish firm

In the first acquisition since private equity investment, Moore Kingston Smith LLP has acquired Irish accountancy firm Moore

14 Jul 2023

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Tax | South Yorkshire secures £80m for investment zone

Sheffield, Rotherham, Doncaster and Barnsley are set to benefit from thousands of new jobs and £1.2bn of investment as Boeing signs up to investment zone

14 Jul 2023

Business | Companies House to tighten up verification activity

Companies House expects to increase the amount of fines issued in 2024-25 from £12m this year to £19m with the introduction of better company vetting

14 Jul 2023

Tax | Business mileage rate frozen at 45p since 2011

People who drive their own cars for work purposes are being short-changed because the tax-free amount they are paid has not changed for more than a decade, says RAC

14 Jul 2023

Personal Tax

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Finance | WANdisco auditor signs off accounts as audit fee hiked

Auditor BDO has signed off WANDisco’s accounts after months of delay as the listed IT data specialists reported a ‘significant, sophisticated’ fraud with millions of pounds of sales wrongly booked

13 Jul 2023

Finance

Auditing

Corporate Governance

Image for bookkeeper jailed ps180k fraud

Business | Bookkeeper jailed for £180k fraud

A bookkeeper was caught defrauding her employers when she used the company credit card to pay for goods at B&Q

13 Jul 2023

Business | GDP falls 0.1% in May

The economy contracted by 0.1% in May, and saw no growth overall in the last three months, although accountancy services revenue was up 2%

13 Jul 2023

Image for dow schofield watts expands midlands

Business | Dow Schofield Watts expands into Midlands

Accountancy network Dow Schofield Watts has expanded into the Midlands for the first time with the acquisition of insolvency and restructuring specialist Bridgewood

13 Jul 2023

Restructuring & Insolvency

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Tax | India hits online gaming industry with 28% tax

India plans to make a significant 10% increase to the current 18% gaming tax on revenue that online gaming companies collect from their customers, but some fear that it might damage the $1.5bn sector

13 Jul 2023

Tax | Southend United given extra time to pay £275k tax bill

Southend United football club has been granted more time to secure its future and pay off a £275,000 tax bill owed to HMRC

13 Jul 2023

Finance | Charity trustee spent £180k on renovations and antique clocks

The sole trustee of a local charity set up to support needy people in a Yorkshire village spent donations on renovation work on his house and longcase clocks

13 Jul 2023