Business &amp; Accountancy Daily

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Business | Head of Grant Thornton Dave Dunckley steps down

Dave Dunckley has stood down as CEO of Grant Thornton after five years, part way through his second tenure, and will remain with the firm until March to ensure a smooth transition

10 Jan 2024

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Tax | CGT allowance reduced to £3k from April

The capital gains tax (CGT) allowance is going to be halved from £6,000 to £3,000 in April, the lowest figure for 40 years

10 Jan 2024

Personal Tax

HMRC

Business | What’s in store for accountants in 2024?

The rise of artificial intelligence, changes to accounting rules for small businesses and growth of outsourcing will shape the next 12 months, says Jonathan Barber, executive director of the Institute of Financial Accountants

10 Jan 2024

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Tax | HMRC scoops up £345m in late payment interest charges

The amount of late payment interest paid to HMRC has soared in recent years to £345.8m, nearly three times higher than the £127m recorded in the year to October 2021

10 Jan 2024

Business | Plans to legislate for resolution of Post Office accounting scandal

The government plans to introduce legislation to speed up the exoneration of postmasters caught up in the Post Office’s Horizon accounting scandal

10 Jan 2024

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| Two-thirds of self-employed freeze pay rates

Contractors, freelancers and small business owners have not increased their day rate in line with inflation

10 Jan 2024

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Business | Shopkeeper banned for failure to file accounts

A Swansea shop owner has been banned from acting as a director for six years after failing to file accounts and fund transfers

10 Jan 2024

Called to Account

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Tax | Q&A: higher rate stamp duty on residential property

In this week’s Q&A, Marsha Haywood, tax adviser at Croner-i, considers the stamp duty land tax charges when two properties are jointly owned by a married couple

9 Jan 2024

Property Tax

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Business | Sedulo Group smashes £14.9m in revenues

Business advisory and accountancy firm Sedulo Group has reported annual revenues of £14.9m for year end 2022, marking double digit growth

9 Jan 2024

Careers

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Tax | HMRC warns crypto investors of tax risks

With self assessment returns due at the end of the month, HMRC is running a targeted campaign to remind crypto investors of their tax reporting obligations

9 Jan 2024

Tax | Salary sacrifice: how electric cars benefit employers and staff

Salary sacrifice schemes can benefit employers and employees, and reduce scope 3 emissions for business, explains Jack Tanner, head of new business at Volkswagen Financial Services Fleet

9 Jan 2024

Employment Tax

Personal Tax

Image for late filing penalties waived postmasters awaiting top ups

Tax | Late filing penalties waived for postmasters awaiting top-ups

Postmasters in the Horizon Shortfall Scheme (HSS) who do not receive top-up payments in time to file their tax return will not have to pay late filing or late payment penalties, and interest

9 Jan 2024

Business | CFOs wary of balance sheet risks in 2024

CFOs are surprisingly upbeat about prospects for the new year, with optimism running well above average levels, but warn of a ‘defensive balance sheet stance’

9 Jan 2024

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Business | Freeman Accountancy opens Oldham office

An accountant with over 25 years of experience in tax and accounting set up her own firm 18 months ago and has raised finance to open an office in Oldham

9 Jan 2024

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Business | Ex Post Office chief hands back CBE

Following growing criticism after the ITV drama about the Horizon accounting scandal and an online petition, former Post Office boss confirmed she will return CBE

9 Jan 2024

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Tax | Tax tips when donating culturally significant assets

Vanina Wittenburg, senior associate at Hunters Law LLP, considers the options for donating important objects to the nation from gardens to textiles and jewellery, either during a taxpayer’s lifetime or on death, with an eye on effective tax planning

8 Jan 2024

Business | Shortage of skilled staff drives salary growth

The number of vacancies in permanent and temporary positions fell again in December, but there is still a shortage of skilled staff

8 Jan 2024

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Finance | FRC chief rejects criticism of tough audit investigations

Richard Moriarty, CEO of the Financial Reporting Council (FRC) has defended the regulator’s investigations into audit firm misconduct saying ‘fear of enforcement sanctions’ will not make the regulator ‘disinterested’

8 Jan 2024

Auditing

Corporate Governance

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Business | Dains makes double acquisition with first Irish move

Private equity backed Dains Group has kicked off the new year with two accountancy firm acquisitions, increasing revenue to a projected £55m and adding over 100 staff members

8 Jan 2024

Careers

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Tax | Chelsea apartment owners face £4.5m VAT bill

Reelreed, the owner of over 200 short-term let apartments in Chelsea, was ‘careless in submitting VAT returns’ and owes £4.5m as they were run like a hotel

8 Jan 2024

VAT

Tax Compliance

Tax | What to expect in the world of tax in 2024

2023 was transformative for accountants, most notably with the unstoppable rise of generative AI. Russell Gammon, chief solutions officer at Tax Systems looks at what trends will shape the year ahead

8 Jan 2024