Business &amp; Accountancy Daily

Business Tax

Tax | HMRC fines tax evaders £13.4m

A management consultancy, construction company and golf club have been fined over £13m for tax evasion, after deliberately failing to pay £20.3m in tax

22 Sep 2023

Business | Armstrong Watson relocates to state of art Carlisle HQ

Accountancy and business advisory firm Armstrong Watson has moved its headquarters to a new purpose-built office in Carlisle

22 Sep 2023

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Tax | How to reclaim emergency tax on pension drawdowns

HMRC has issued guidance on how to claim back a refund in the current tax year on an overpayment of tax when a pension has been flexibly accessed

22 Sep 2023

Tax | How to change tax agent codes when firm merges

HMRC has issued guidance on requesting new agent codes for accountants when they merge their firms or acquire other practices

22 Sep 2023

HMRC

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Business | Grant Thornton named top employer for working families

National charity Working Families has named Grant Thronton as one of the top family-friendly and flexible employers in the UK

22 Sep 2023

Business | Financial health podcast targets young accountants

Caba has launched a financial health podcast series for young accountants, covering debt, budgeting and how to get on top of their finances

22 Sep 2023

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Business | People in the news: UHY Hacker Young, Mazars, PM+M

In this week’s accountancy career moves, partner promotions and hires at BDO, PKF Francis Clark, SGD, Kreston Reeves, Quantuma, Cowgills

22 Sep 2023

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Business | Cybersecurity and staffing issues key risks for companies

Cybersecurity threats, staff shortages and economic uncertainty are the top concerns for company boards, finds Chartered Institute of Internal Auditors risk survey

22 Sep 2023

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Business | Bennettbrooks snaps up MBL tax firm

Accountancy firm Bennettbrooks has acquired Altrincham based MBL (Business and Tax Advisers) in a move to expand its presence in Cheshire and Greater Manchester

22 Sep 2023

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Tax | HMRC abandons 10-minute answering on Agent Dedicated Line

As HMRC struggles to deal with demand for telephone support, it will drop the 10-minute call answering target from the agent dedicated line for accountants

21 Sep 2023

HMRC

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Tax | Bluecrest LLP loses £100m tax appeal

Bluecrest Capital Management LLP has once again lost an appeal over the tax status of members of the partnership due to lack of influence over business

21 Sep 2023

Business | Silver trader disqualified for £1m tax fraud

A director of a metal trading company has been disqualified for 12 years after selling precious metals connected to a tax fraud scheme run by customers

21 Sep 2023

Business | Xeinadin expands Irish presence with Quintas deal

Xeinadin Group has made its largest acquisition since private equity investment with the addition of Irish accountancy and wealth management firm Quintas

21 Sep 2023

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Finance | IASB to improve reporting of climate-related risks in IFRS

The International Accounting Standards Board has launched a project to address concerns about inconsistency in the reporting of climate-related risks in IFRS financial statements

21 Sep 2023

Finance

IFRS

Tax | Tax take up nearly £20bn this year

HMRC collected a total of £60.7bn in tax in August 2023, marking a £19.8bn hike on last year’s six-month performance, with inheritance tax continuing to fill Treasury coffers

21 Sep 2023

Business | Bank of England leaves interest rate at 5.25%

For the first time in over a year, the Bank of England has maintained the current interest rate at 5.25%

21 Sep 2023

Tax | Tax issues for buy to let landlords

The tax burden on buy to let landlords has increased significantly from removal of interest relief to higher capital gains tax. Tim Palmer CTA ATT, senior partner, Palmer Consultancy Partnership, explains the key issues to consider

20 Sep 2023

Tax | Essay writing service loses £420k VAT case

An internet based essay and dissertation writing service for students has lost an appeal at the First Tier Tribunal over who is liable for £419,559 in VAT charges for the academic work

20 Sep 2023

VAT

Case Reports

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Tax | HMRC telephone support for small businesses ‘poor’

A third of small businesses have seen a deterioration in the quality of their dealings with HMRC in the last 12 months, with particular dissatisfaction with telephone support

20 Sep 2023

HMRC

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Tax | Horizon postmaster payments exempt from inheritance tax

Compensation payments for victims of the Horizon accounting scandal will be exempt from inheritance tax

20 Sep 2023

Business | Accountants worried by client tax bills

Accountants and financial advisers are becoming increasingly worried about their client's ability to pay important tax bills, according to a survey by Premium Credit

20 Sep 2023