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Image for treasury gives hmrc ps51m improve helplines

Tax | Treasury gives HMRC £51m to improve helplines

Following months of deteriorating service on helplines, the Treasury has increased funding by £51m to bring HMRC’s phoneline service back up to 85% of calls answered

14 May 2024

Image for parasitical hmrc investigation dismissed tribunal

Tax | ‘Parasitical’ HMRC investigation dismissed at tribunal

A £40m dividend payment to companies incorporated in Bermuda and a settlement in Guernsey led HMRC to investigate three company directors

14 May 2024

Image for bank details being changed hmrc portal vat scam

Tax | Bank details being changed on HMRC portal in VAT scam

Accountants at Price Bailey are warning companies to be extra vigilant as there has been a surge in fraudulent activity affecting VAT repayments from HMRC

14 May 2024

Image for mha takes irish step roberts nathan merger

Business | MHA takes Irish step with Roberts Nathan merger

In its first move into Ireland, top 20 firm MHA is set to merge with Irish accountancy firm Roberts Nathan, branding the business as Baker Tilly Ireland

14 May 2024

Accountancy Firms

Leadership & Management

Image for glasgow director banned over 63m unsolicited cold calls

Business | Glasgow director banned over 63m unsolicited cold calls

The director of a Glasgow based cold-call company which made 1.6m calls a day hounding customers has been banned from being a director

14 May 2024

Restructuring & Insolvency

Called to Account

Image for dwp expands benefits fraud team 25k hires

Business | DWP expands benefits fraud team with 2.5k hires

The Department for Work and Pensions (DWP) saved £1.3bn last year from the hands of fraudsters and now plans to continue the momentum

14 May 2024

Accountancy Firms

Image for crypto academy shut down after ps5m hole accounts

Business | Crypto academy shut down after £5m hole in accounts

The director of an online cryptocurrency academy has forced to close his business after misleading investors and failing to file up to date accounts with no record of a £5m transfer

14 May 2024

Called to Account

Image for cfos twice ambitious other top leaders

Business | CFOs twice as ambitious as other top leaders

The majority of finance leaders say they are very ambitious compared to just 42% of other professions, while they expect investment in AI to improve job satisfaction

14 May 2024

AI & Technology

Leadership & Management

Image for us accounting giant cla buys british ai start

Business | US accounting giant CLA buys British AI start-up

CLA, one of the top 10 accounting firms in the US, has acquired UK tech start-up Engine B, an AI-specialist focusing on services for accountants and tax advisers

14 May 2024

Accountancy Firms

AI & Technology

Finance | Companies House rule changes – attend our Accountex seminar

If you’re planning to visit Accountex, don’t miss the Croner-i session on Companies House rule changes on 15 May

14 May 2024

Financial Reporting

13 May 2024

Image for hmrc loses ps780k director loan tax case

Tax | HMRC loses £780k director loan tax case

The former director of a luxury hotel and spa faced a £200,000 tax bill and £90,000 penalty for a single tax year over a director’s loan account

13 May 2024

Image for hmrc targets savvy online sellers what you need do

Tax | HMRC targets savvy online sellers: what you need to do

As online platforms prepare for new disclosure rules on transactions, Danielle Ford, partner at haysmacintyre, warns that HMRC has already started compliance checks on the highest reported earners

13 May 2024

Image for grant thornton partner pay 11 ps644k

Business | Grant Thornton partner pay up 11% to £644k

Grant Thornton has reported revenues of £653.5m for year end 2023, with profits up 18% to £146m, with strong growth in audit business

13 May 2024

Accountancy Firms

Leadership & Management

Image for april sees staff rates falling pay growth

Business | April sees staff rates falling but pay growth on the up

The latest KPMG and Recruitment and Employment Confederation (REC) report on UK jobs has found the number of workplaces is still slowly dropping while salaries are increasing

13 May 2024

Accountancy Firms

Image for builder bromley faked accounts claim full ps50k covid loan

Business | Builder from Bromley faked accounts to claim full £50k Covid loan

A builder received the full £50,000 Covid loan, going bust owing over £180,000 and has now received a 10-year director ban

13 May 2024

Restructuring & Insolvency

Called to Account

Image for boiler room fraudster sentenced over ps13m forged paper case

Business | Boiler room fraudster sentenced over £1.3m forged paper case

A forged document provided as evidence to the Financial Conduct Authority (FCA) in a £1.3m boiler room fraud case has landed the accused an 18-month prison sentence

13 May 2024

Called to Account

Image for nadhim zahawi admits settling ps5m tax bill

Tax | Nadhim Zahawi admits settling £5m tax bill

‘Non-deliberate’ and ‘careless mistake’ led to Zahawi having to pay a £5m settlement bill to HMRC, including a £1m fine

13 May 2024

Law and Regulation

Image for consultation accounting renewable electricity contracts

Finance | Consultation on accounting for renewable electricity contracts

The International Accounting Standards Board (IASB) is consulting on narrow-scope amendments to the effects of renewable electricity contracts on companies

13 May 2024

Audit Consultations

10 May 2024

Image for car finance gang leader jailed ps800k theft

Business | Car finance gang leader jailed for £800k theft

The leader of a seven-man gang that set up 90 false companies and stole people’s identities has been jailed

10 May 2024

Called to Account

Image for women led accounting firms face multiple barriers growth

Business | Women led accounting firms face multiple barriers to growth

The accountancy profession is systemically holding women back with less than one percent of firms led by women having broken the £1m turnover barrier

10 May 2024

Accountancy Firms

Leadership & Management

Image for gdp 06 surprise first quarter

| GDP up 0.6% in surprise first quarter

Economists were caught by surprise when GDP growth came into a 0.6% for Q1 but ‘too early to say that the British economy has turned a corner’

10 May 2024

Image for short lived chancellor nadhim zahawi resign mp

Tax | Short-lived Chancellor Nadhim Zahawi to resign as MP

Nadhim Zahawi will step down as an MP at the next election after 14 years in parliament and a very brief stint as Chancellor

10 May 2024

Image for what do you need know about term time working

Business | What do you need to know about term-time working?

Significant changes to the Working Time Regulations 1998 (WTR) have been made in 2024, in particular for term-time only and irregular hours workers

10 May 2024

Image for leeds builder avoids jail after ps869k hole accounts

Business | Leeds builder avoids jail after £869k hole in accounts

The director of a Leeds construction company showed a ‘blatant disregard’ for keeping up-to-date accounts, and could not explain mysterious vehicle purchases

10 May 2024

Called to Account

Image for lancashire medical umbrella contractor broke tax rules

Business | Lancashire medical umbrella contractor broke tax rules

HMRC has warned contractors not to use Accent Umbrella Ltd as it uses disguised remuneration schemes to avoid tax

10 May 2024

Called to Account

HR | People in the news: Bishop Fleming, Moore, RSM

In this week’s accountancy career moves, partner promotions and hires at RSM, Deloitte, KPMG, Carpenter Box, Bishop Fleming, Dow Schofield Watts, Milsted Langdon, Moore, Quantuma and governance shake-up at ICAEW

10 May 2024

Leadership & Management

Tax | Don't miss Accountex seminar on property tax pitfalls

Register for the Croner-i session on property tax and typical problem areas on 15 May at Accountex

10 May 2024