Business &amp; Accountancy Daily

Called to Account

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Finance | Legal updates: directors’ conflicts of interest

In this month’s legal updates, Sophie Brookes and Debbie Shaw examine directors’ conflicts of interest and transactions in Humphrey Bennett, extension reform of listing rules and financial promotion exemptions

5 Feb 2024

Finance

Financial Reporting

Law and Regulation

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Business | SME council announced to help struggling businesses

The government has voiced its support for SMEs with the relaunch of the Help to Grow scheme and the creation of a Small Business Council

5 Feb 2024

Companies

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Tax | Tax filing deadlines: February - April 2024

Our handy guide to tax filing deadlines for deferment of payment for Class 1 NICs to corporation tax returns for accounting periods ended 28 February 2023

5 Feb 2024

Tax Compliance

Tax Planning

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Business | Trader jailed in Denmark for £37m tax fraud

A British trader has been jailed for six years after being extradited from Belgium to Denmark for defrauding tax authorities out of 320m Danish crowns (£37m)

5 Feb 2024

Law & Guidance

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Tax | Paystone Services runs tax avoidance scheme for health workers

A Glasgow umbrella company has been named for paying workers from the health and tech sectors partly untaxed payments for agency work

5 Feb 2024

Employment Tax

Personal Tax

Image for hmrc needs review strategy against tax fraud say lords

Business | HMRC needs to ‘review strategy against tax fraud’, say Lords

Increasing the maximum sentence for tax fraud and imposing tougher penalties for use of tax avoidance schemes are not the best deterrents, says House of Lords Economic Affairs Committee

2 Feb 2024

Companies

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Tax | 25% corporation tax would stay under Labour

A Labour government would not increase the 25% corporation tax if voted in according to shadow Chancellor Rachel Reeves

2 Feb 2024

Business Tax

Politics

Image for pwc picks ps13m ncc group audit

| PwC picks up £1.3m NCC Group audit

Listed cyber security services provider NCC Group plc has swapped Big Four auditors with appointment of PwC

2 Feb 2024

Corporate Governance

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Tax | HMRC stops Online Agent Authorisation for VAT clients

HMRC is removing the legacy VAT for Agents registration facility from the Online Agent Authorisation (OAA) service in two weeks’ time

2 Feb 2024

VAT

Tax Compliance

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HR | People in the news: BDO, Grant Thornton, Alexander & Co

In this week’s accountancy career moves, partner promotions and hires at BDO, Grant Thornton, EY, Alexander & Co, Azets, Champion, Alvarez & Marsal

2 Feb 2024

Careers

Business | BK Plus snaps up Abrams Ashton

BK Plus has acquired Merseyside accountancy firm Abrams Ashton, making first acquisition since private equity deal

2 Feb 2024

Careers

Image for accountancy business value hits record ps80bn

Business | Accountancy business value hits record £80bn

The accountancy profession is worth £80.7bn to the UK economy and employs more than 828,000 staff across practice and business, up by more than a third in five years

1 Feb 2024

Image for mercenary pensioner jailed ps13k fraud

Business | ‘Mercenary’ pensioner jailed for £13k fraud

A 72-year-old fraudster has been sentenced to 26 months in prison after stealing £13,000 from vulnerable victims

1 Feb 2024

Law & Guidance

Called to Account

Image for 605k people miss tax return deadline

Tax | 605k people miss tax return deadline

More than double the number of taxpayers have failed to file their self assessment tax return on time this year, despite 11.5m filers managing to remember tax d-day

1 Feb 2024

Tax | Property tax take exceeds pre-pandemic level at £15bn

The tax take from stamp duty has shot up to pre-pandemic levels at £15.4bn despite high mortgage rates and the average buyer paying £9,937

1 Feb 2024

Property Tax

HMRC

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Tax | Over £1bn lost through R&D tax error and fraud

A lack of resources to monitor compliance means that a record 341 tax reliefs cost taxpayers £204bn in 2023 with just 25 evaluated for cost effectiveness in the last eight years

1 Feb 2024

Business Tax

HMRC

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Tax | Six-month alcohol duty freeze for pubs

A freeze on alcohol duty in pubs announced in the Autumn Statement comes into effect from 1 February

1 Feb 2024

Business Tax

Tax Compliance

Business | Interest rate unchanged at 5.25%

The Bank of England has kept the base rate at 5.25% for the fifth consecutive month with one committee member voting for a cut

1 Feb 2024

Companies

Image for plumber made company get ps60k bounce back loans

Business | Plumber made up company to get £60k bounce back loans

A plumber from Plymouth has avoided jail after he invented a fake company and fabricated turnover to secure two bounce back loans for £60,000 at the start of the pandemic

1 Feb 2024