Business &amp; Accountancy Daily

Personal Tax

Image for qa corporation tax and associated companies

Tax | Q&A: corporation tax and associated companies

In this week’s Q&A, Croner-i tax advisers consider new corporation tax rules introduced in April 2023 when reporting for associated companies

10 Oct 2023

Business | VAT fraudsters stripped of £7.5m properties

HMRC has sold five properties belonging to two fraudsters who were serving long sentences for a multimillion pound carousel VAT fraud

10 Oct 2023

Called to Account

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Business | Azets expands with first Bristol office

Top 10 firm Azets has opened its first office in Bristol, located on Temple Back East, and hired a tax partner to run the operation

10 Oct 2023

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| Only five local authority audits signed off by deadline

The backlog in the number of local authority audits has worsened with nearly 1,000 sets of accounts now overdue

10 Oct 2023

Corporate Governance

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Business | Grant Thornton launches internal generative AI tool

Grant Thornton has created a generative artificial intelligence (AI) platform, GTAssist, to help staff access the latest processes and procedures

10 Oct 2023

Tax | HMRC owed £2.38m after law firm collapse

Conveyancing law firm Alexander Grace Law went bust in June following a winding up petition from HMRC due to a £2.38m unpaid tax bill and further debts of £4.3m

9 Oct 2023

Tax | Labour plans hike in stamp duty for overseas buyers

Shadow Chancellor Rachel Reeves plans to increase the additional rate of stamp duty for overseas buyers, slash government consultancy costs and set up a covid corruption commission

9 Oct 2023

Politics

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Business | Taxi driver inflated turnover to £300k for covid loan

The director of a taxi business from Chesham exaggerated turnover by fivefold to secure a £50,000 bounce back loan and then spent the money on himself

9 Oct 2023

Companies

Called to Account

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Finance | UK sustainability standards disclosure in force from 2026

The UK plan to adopt UK Sustainability Disclosure Standards has been endorsed with the release of the disclosure framework for climate transition reporting effective 2026

9 Oct 2023

Finance

Financial Reporting

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Tax | Businesses call for one Budget not two fiscal events

Manufacturers are calling on the Chancellor to reform the UK’s business taxes and create one annual fiscal event, rather than the current Budget and Autumn Statement

9 Oct 2023

Business Tax

Tax Planning

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Business | EY finance chief quit after plan to split firm voted down

The global chief financial officer of Big Four network EY has left the firm after partners voted against plans to break up the business

9 Oct 2023

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Tax | Buy to let landlords caught in £50m tax avoidance scheme

HMRC is warning buy to let property owners not to use a tax avoidance scheme to reduce the tax payable on profits generated from rentals

6 Oct 2023

Business | How can accountants adapt to the era of AI in accounting?

Artificial intelligence will not do away with the need for accountants, but will it lead to a bold redefinition of their roles, argues Kyle Wilkinson, strategic industry advisor at Workday

6 Oct 2023

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Business | People in the news: Mercer & Hole, Cowgills, Simpson Wood

In this week’s accountancy career moves, partner promotions and hires at BDO, Crowe, Mercer & Hole, Prime Accountants, Cowgills, MHA Moore and Smalley, Aston Business School and HMRC

6 Oct 2023

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Business | RSM partner pay hits £661k as revenue up 14%

RSM UK reported a record rise in fee income to £486.3m following a share buyback programme which saw ownership returned to working partners

6 Oct 2023

Image for claims about private equity tax position nonsense says hmrc

Tax | Claims about private equity tax position ‘nonsense’, says HMRC

HMRC has strongly rejected claims by the Good Law Project that private equity managers have not been paying enough tax on their earnings, describing them as ‘nonsense’

6 Oct 2023

Personal Tax

HMRC

Image for 250k taxpayers filed self assessment return early

Tax | 250k taxpayers filed self assessment return early

Almost 250,000 people filed a self assessment tax return in the first week of the tax year, up by 100,000 since 2018

6 Oct 2023

Personal Tax

Tax Planning

Image for pe backed djh mitten clarke completes two acquisitions

Business | PE backed DJH Mitten Clarke completes two acquisitions

DJH Mitten Clarke has expanded in the northwest with the acquisition of the Altrincham office of Haines Watts and Nantwich accountancy practice, Lyon Griffiths

6 Oct 2023