Business &amp; Accountancy Daily

Tax Compliance

Image for warwick launches ps3m fintech centre

Business | Warwick launches £3m fintech centre

Warwick Business School has opened a centre for financial and technology sectors, which will be backed by £3m in funding from Warwick Business School alumnus Clive Gillmore to spearhead cutting edge research

28 Jul 2023

Accountancy Firms

Image for 6000 shops vanish last five years

Business | 6,000 shops vanish in last five years

The UK has lost around 6,000 high street stores in the last five years as financial pressures continue to boil and business rates rise

28 Jul 2023

Accountancy Firms

Image for pod point hires kpmg ps340k audit

| Pod Point hires KPMG for £340k audit

FTSE listed Pod Point Group Holdings has swapped auditors hiring KPMG to replace Deloitte as a result of French joint audit rules

28 Jul 2023

Corporate Governance

Image for people news azets hwb pwc westcotts

HR | People in the news: Azets, HWB, PwC, Westcotts

In this week’s accountancy career moves, partner promotions and hires at Azets, HWB, MHA Moore & Smalley, Bevan Buckland, Moore Kingston Smith, PwC, Westcotts

28 Jul 2023

Careers

Leadership & Management

Image for growth remains priority finance chiefs

Business | Growth remains priority for finance chiefs

The majority of CFOs ranked growth as the top priority for their organisation in 2023, but many are cautious about raising prices as a result of inflation

28 Jul 2023

Accountancy Firms

Image for poor service standards ongoing problem hmrc

Tax | Poor service standards ongoing problem for HMRC

With a third of taxpayers dissatisfied with the quality of HMRC service, the HMRC Charter annual report acknowledged serious service failures, and said the future focus would be on online migration

27 Jul 2023

Image for frc fined auditors ps40m poor audits

Finance | FRC fined auditors £40m for poor audits

Big Four firm KPMG was hit with the highest ever sanction imposed by the regulator last year, although total fines dropped by £5m

27 Jul 2023

Auditing

Audit Regulations

Image for easyway umbrella flagged tax avoidance scheme

Tax | Easyway Umbrella flagged for tax avoidance scheme

A Hertfordshire employment agency has been named as running a tax avoidance scheme by paying contractors part of their pay tax free

27 Jul 2023

Called to Account

Image for city am sold thg beauty group pre pack

Business | City AM sold to THG beauty group in pre-pack

The London based financial and business newspaper has avoided going into administration after its sale in pre-pack deal to listed beauty group THG

27 Jul 2023

Restructuring & Insolvency

Image for liverpool investment zone secures ps80m funding

Tax | Liverpool investment zone secures £80m funding

Plans for a Liverpool investment zone have been given a boost with up to £80m of government funding to drive growth in the life sciences sector and deliver 4,000 jobs

27 Jul 2023

Finance | ISSB consults on taxonomy for sustainability reporting

The International Sustainability Standards Board has released a draft digital taxonomy to improve accessibility and comparability of sustainability information

27 Jul 2023

Finance

Audit Consultations

Image for late tax appeals what you need know

Tax | Late tax appeals: what you need to know

Taxpayers have 30 days to appeal a tax demand from HMRC at tribunal based on Maitland ruling but there are some exceptions to the tight deadline, explains Meg Wilson CTA, lead direct tax writer, Croner-i

26 Jul 2023

Tax Compliance

Tax | HMRC loses appeal over luxury hotel £76k VAT bill

The operator of a luxury hotel group has won an appeal at the Upper Tribunal over a dispute with HMRC relating to a VAT bill for £76,000 as VAT on accountancy and legal fees was recoverable

26 Jul 2023

Tax | Average inheritance tax bill hits £214k

Nearly 4% of estates are paying inheritance tax as soaring house prices saw more people pulled into the unpopular tax

26 Jul 2023

Tax | Youngsters fail to claim £1.7bn in child trust funds

Nearly a million young people are yet to access their child trust fund accounts, despite providers charging fees for passively managing them

26 Jul 2023

Tax Compliance

Image for mps call action stop abuse ps195bn tax reliefs

Tax | MPs call for action to stop abuse of £195bn tax reliefs

A lack of accountability, growing levels of fraud and excessive complexity mean that the Treasury needs to be more transparent about the multibillion pound tax breaks

26 Jul 2023

Business | Global crypto attacks hit record numbers

The number of crypto hacking cases has risen to record numbers as cybercriminals shift their tactics, with increases in phishing campaigns and cryptojacking continuing to rise

26 Jul 2023

Business | Celebrity fashion house enters liquidation

Fashion house Julien Macdonald has been placed in liquidation following licensing and cashflow problems

26 Jul 2023

Restructuring & Insolvency

Image for education charities probed over financial mismanagement

Finance | Education charities probed over financial mismanagement

Two charities are under investigation by the Charity Commission for a lack of financial controls and use of blank signed cheques

26 Jul 2023