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Image for sfo charges patisserie valerie finance team over ps40m fraud

Finance | SFO charges Patisserie Valerie finance team over £40m fraud

The Serious Fraud Office has brought fraud charges against four individuals in the bakery chain’s finance team, including the former chief financial officer of Patisserie Valerie

14 Sep 2023

Financial Reporting

Image for have you got your sights set isqm uk 2

Finance | Have you got your sights set on ISQM (UK) 2?

Aron Kleiman, head of audit and accounts at Wilson Wright LLP, explains why the requirements of ISQM (UK) 2 apply to all firms, not just the largest ones

14 Sep 2023

Corporate Governance

Image for inheritance tax added hmrc performance dashboard

Tax | Inheritance tax added to HMRC performance dashboard

Inheritance tax has been included on HMRC’s service dashboard for the first time, while marriage allowance claims are taking at least three months to deal with

14 Sep 2023

Inheritance Tax

Image for bankrupt paint company owes ps160k tax bill

Tax | Bankrupt paint company owes £160k tax bill

The administrators of a paint coating company that collapsed following an accounting error have said that HMRC is owed over £160,000 in unpaid tax and VAT

14 Sep 2023

Accountancy Firms

Image for jail sentence offshore tax evasion halved

Tax | Jail sentence for offshore tax evasion halved

The length of custodial sentences for failure to declare offshore income where tax of £25,000 or more is due has been slashed

14 Sep 2023

Law and Regulation

Image for deloitte cut 800 risk and consulting jobs

Business | Deloitte to cut 800 risk and consulting jobs

Big Four firm Deloitte is planning to slash 800 jobs in the UK as demand for consulting services slows amid a challenging economic environment

14 Sep 2023

Accountancy Firms

Image for lords examine longer prison terms tax avoidance promoters

Tax | Lords to examine longer prison terms for tax avoidance promoters

Increased prison terms for tax fraud, the merged R&D tax relief scheme and wider HMRC data collection powers to be examined by Lords Finance Bill Sub-Committee

14 Sep 2023

Business | Value chain The Range buys Wilko brand

The Range has agreed a deal to acquire the Wilko brand, website and some of its stock for around £5m

14 Sep 2023

Accountancy Firms

Image for ey global revenue hits 494bn

Business | EY Global revenue hits $49.4bn

EY Global has reported one of its best ever years with fee income of $49.4bn, up 25% since the pandemic, despite disruption caused by the now abandoned plan to split the firm into two entities

14 Sep 2023

Accountancy Firms

Leadership & Management

13 Sep 2023

Image for australian regulatory shake post pwc debacle

Tax | Australian regulatory shake-up post PwC debacle

The tax world has been shaken by the revelations of PwC partners’ involvement in leaks of confidential government tax documents in Australia to multinational clients. Glyn Fullelove, editor-in-chief, Tax Weekly, considers how this could affect UK tax rules

13 Sep 2023

International Tax

Image for co founder jailed 4bn crypto fraud

Business | Co-founder jailed for $4bn crypto fraud

The co-founder of the fraudulent cryptocurrency scheme, OneCoin, has been handed 20 years behind bars for his involvement in marketing the $4bn scam worldwide

13 Sep 2023

Accountancy Firms

AI & Technology

Image for director loses ps80k tax appeal

Tax | Director loses £80k tax appeal

A director has lost a First Tier Tribunal (FTT) appeal against penalties charged by HMRC for VAT and corporation tax inaccuracies, which totalled £80,666.31

13 Sep 2023

Image for brearley co acquires yorkshire firm

Business | Brearley & Co acquires Yorkshire firm

Accountancy firm Brearley & Co has extended its presence across Yorkshire with the acquisition of F L Accounting

13 Sep 2023

Accountancy Firms

Leadership & Management

Image for uk economy shrinks 05

Business | UK economy shrinks by 0.5%

The UK economy contracted by 0.5% in July, with falls in all three main sectors, according to data from the Office for National Statistics (ONS)

13 Sep 2023

Accountancy Firms

Image for half tax relief claims invalid under rd rule changes

Tax | Half of tax relief claims invalid under R&D rule changes

UK companies risk falling foul of new regulation involving the submission of tax relief claims for research and development (R&D), warns accountancy firm Azets

13 Sep 2023

Accountancy Firms

12 Sep 2023

Image for qa salary sacrifice and parking expenses

Tax | Q&A: salary sacrifice and parking expenses

In this week’s Q&A, Croner-i payroll advisor Joe Tabois, explains the tax and benefit in kind implications of claiming parking expenses

12 Sep 2023

Image for plans insolvency watchdog abandoned

Business | Plans for insolvency watchdog abandoned

The government has backed down on plans to create a single insolvency watchdog and will leave oversight to professional institutes like ICAEW and ICAS

12 Sep 2023

Accountancy Firms

Restructuring & Insolvency

Image for management consultant jailed ps850k will fraud

Business | Management consultant jailed for £850k will fraud

A retired management consultant has been jailed for five years after defrauding vulnerable people out of nearly £900,000, which he used to fund a gambling addiction and holidays

12 Sep 2023

Accountancy Firms

Called to Account

Image for dains acquires midlands accountants hsksg

Business | Dains acquires Midlands accountants HSKSG

Private equity backed Dains Accountants has acquired HSKSG as part of its strategy to become one of the Top 30 firms

12 Sep 2023

Accountancy Firms

Leadership & Management

Image for poundland snaps 71 wilko stores

Business | Poundland snaps up 71 Wilko stores

Poundland owner Pepco has agreed to take on up to 71 Wilko stores, with staff working at the sites given priority for jobs once the sale has been completed

12 Sep 2023

Accountancy Firms

Image for narrow scope amendments ifrs proposed

Finance | Narrow scope amendments to IFRS proposed

The International Accounting Standards Board plans a number of narrow-scope amendments to clarify wording on IFRS accounting standards

12 Sep 2023

Audit Consultations

Image for ministers ignore departmental fraud crisis

Business | Ministers ignore departmental fraud crisis

MPs have criticised the government for failing to take action to recover fraud and error losses of up to £28bn a year

12 Sep 2023

Accountancy Firms

Image for pwc hired audit bazalgette finance

| PwC hired to audit Bazalgette Finance

KPMG has resigned as auditor of listed Bazalgette Finance plc and will be replaced by PwC with immediate effect in a Big Four swap

12 Sep 2023

Corporate Governance