Business &amp; Accountancy Daily

AI & Technology

Image for jongleurs fd jailed ps79m ponzi fraud

Business | Jongleurs FD jailed for £7.9m ponzi fraud

An accountant and finance director has been jailed after masterminding a £7.9m ponzi scheme to defraud investors and fund a luxury lifestyle

15 Dec 2023

Law & Guidance

Image for inclusivity does accounting sector need wake

Business | Inclusivity: does the accounting sector need to wake up?

With the accounting profession perceived as being slow off the mark in terms of diversity, what can be done to attract the next generation, asks Sarah Beale, CEO at the AAT

15 Dec 2023

Image for camping pod owner partly wins ps354k tax appeal

Tax | Camping pod owner partly wins £354k tax appeal

The owners of an adventure company based in the Brecon Beacons have part won a claim for £354,489 relating to capital allowances

15 Dec 2023

Business | People in the news: EY, Azets, Grant Thornton

In this week’s accountancy career news, partner promotions and hires at EY, Azets, Grant Thornton, Alvarez & Marsal, MHA Moore and Smalley, Johnston Carmichael, Quantuma, Hentons

15 Dec 2023

Image for opportunity join netflix accountancy training scheme

HR | Opportunity to join Netflix accountancy training scheme

The Production Guild has launched the first fully subsidised training scheme for assistant production accountants in partnership with Netflix

15 Dec 2023

Image for ex liverpool footballer loses ps294k ir35 case

Tax | Ex Liverpool footballer loses £294k IR35 case

A Sky Sports presenter faces a tax bill for nearly £300,000 after losing a dispute with HMRC over whether he qualified for IR35 status

15 Dec 2023

Personal Tax

Case Reports

Image for avoid ps150 fine filing annual accounts late

Finance | Avoid £150 fine for filing annual accounts late

Companies House has warned businesses to file their accounts by 31 December deadline to avoid receiving an automatic £150 penalty for late filing

15 Dec 2023

Finance

Financial Reporting

Business | TaxAssist Accountants named as top 10 franchise

TaxAssist Accountants has finished 2023 on a high after being named as one of the leading franchise opportunities in the UK

15 Dec 2023

Image for hmrc determined shift agent queries online

Tax | HMRC determined to shift agent queries online

HMRC bosses told MPs they will continue to offer a phone service for agents and accountants, but needed to reduce dependence with ‘interventionist’ action to force a change of behaviour

14 Dec 2023

| ‘Unacceptable’ number of poor audits by smaller firms

Nearly a third of audits completed by small and mid-tier firms needed ‘significant improvements’ after inspections by the regulator

14 Dec 2023

Auditing

Image for delays over 900 local audit reports thwart inspectors

Finance | Delays in over 900 local audit reports thwart inspectors

Only a small number of local government and NHS audits has been analysed by the audit regulator this year after ‘unacceptable delays’ in filing completed audit reports

14 Dec 2023

Finance

Auditing

Public Sector

Image for voluntary groups given ps55m lifeline vulnerable taxpayers

Tax | Voluntary groups given £5.5m lifeline for vulnerable taxpayers

HMRC has given 12 voluntary and community sector organisations a share of £5.5m in funding to help taxpayers who need extra support with their tax affairs

14 Dec 2023

HMRC

Image for handy tips when gifting clients christmas

Tax | Handy tips when gifting clients this Christmas

The line between bribery and goodwill can be blurred when sending Christmas gifts to clients, so make sure you stay within the rules, says Matt Green at Skillcast

14 Dec 2023

Image for cash and carry trader banned over ps24m vat fraud

Business | Cash and carry trader banned over £2.4m VAT fraud

The director of a cash and carry company has been disqualified by the Insolvency Service after becoming involved in a missing trader VAT fraud related to alchol trading

14 Dec 2023

Called to Account

Business | Interest rate unchanged at 5.25%

The Bank of England has kept the interest rate at 5.25% but three members of the committee wanted to hike rates by a quarter of a percent

14 Dec 2023

Companies

Image for thinking deferring christmas bonus

Tax | Thinking of deferring that Christmas bonus?

If staff ask to delay payment of their Christmas bonus until the new year to save tax, it will be a tight turnaround to update payroll systems, warns Susan Ball, partner at RSM

13 Dec 2023

Employment Tax

Image for mtd testing pilot mission critical warns abab

Tax | MTD testing pilot is ‘mission critical’ warns ABAB

HMRC needs to focus on understanding the needs of small businesses and landlords, and not rush out the beta trial of Making Tax Digital

13 Dec 2023

Making Tax Digital

HMRC

Image for accountancy sector bucks trend gdp falls 03

| Accountancy sector bucks trend as GDP falls by 0.3%

Growth figures for the last quarter were flat as GDP fell by 0.3% in October, signalling signs of a ‘sinking economy’, although the accountancy sector performed strongly

13 Dec 2023

Business | DJH Mitten Clarke signs deal with DTE Business Advisers

Private equity backed DJH Mitten Clarke has expanded in the northwest with the acquisition of DTE Business Advisers, the sixth deal of the year

13 Dec 2023

Image for shipping magnate loses ps851k appeal over tax bonuses

Tax | Shipping magnate loses £851k appeal over tax on bonuses

A Hong Kong based billionaire who paid bonuses to staff from his own funds has lost an appeal over whether the payments were subject to income tax and National Insurance

13 Dec 2023

Business | KPMG global revenue hits $36bn

Big Four accounting network KPMG International has reported global revenue of $36.4bn (£29bn) for FY23 after significant investment in technology, ESG and staff

13 Dec 2023

Tax | Twelve Days of Tax Tips webinar

Let’s speed up your tax returns, making the process more streamlined and efficient this Christmas with our exclusive advent calendar webinar

13 Dec 2023

Image for dental worker stole ps282k payroll fraud

Business | Dental worker stole £282k in payroll fraud

A Lancashire dental manager has been jailed after stealing nearly £300,000 from her employers over decades by manipulating cheques and digital records

13 Dec 2023