Business &amp; Accountancy Daily

Image for collagen drink supplier loses ps13m vat case

Tax | Collagen drink supplier loses £1.3m VAT case

A collagen drink product is not ‘food of a kind used for human consumption’ and therefore not exempt for VAT purposes

17 Jul 2024

Tax | Audit reform given green light in King’s Speech

In a King’s Speech packed with 40 bills, reform of audit and corporate governance was one of the first issues mentioned by King Charles

17 Jul 2024

Finance | FRC will be replaced by powerful audit regulator

As headlined in the King’s Speech, Labour will move swiftly to reform audit and create a more robust regulator with oversight of audit at large private companies and powers to sanction directors

17 Jul 2024

Finance

Auditing

Corporate Governance

Finance | K3 hires Crowe for £323k audit

Listed software provider K3 has appointed Crowe as auditors replacing outgoing BDO

17 Jul 2024

Finance

Auditing

Corporate Governance

Image for two weeks until payments account tax deadline

Tax | Two weeks until payments on account tax deadline

As the deadline for payments on account looms, Stevie Heafford, tax partner at HW Fisher, explains what self employed taxpayers need to do

17 Jul 2024

Business | NCA recovers £1m from tax evading money launderers

The National Crime Agency (NCA) has recovered £1.07m from an organised criminal gang who organised a fake bombing in London and avoided £55m in tax

17 Jul 2024

Called to Account

| Inflation stands fast at 2%

June saw inflation remain unchanged at 2%, keeping to the Bank of England’s target with hope this will lead to a cut in interest rates

17 Jul 2024

HR | How presenteeism affects productivity and mental health

If the pandemic has taught us anything about work, it's that we don't need to be pulling long hours in an office to be productive. So, why is presenteeism so important and what can we do about it?

17 Jul 2024

Leadership & Management

Image for taxpayer loses absurd claim ps400m against hmrc and cps

Tax | Taxpayer loses ‘absurd’ claim for £400m against HMRC and CPS

The High Court has dismissed a claim by a businessman for reimbursement of costs and malicious prosecution related to a trial over charges of tax evasion

16 Jul 2024

HMRC

Case Reports

Image for bbc presenter charlie stayt pay ps191k tax bill

Tax | BBC presenter Charlie Stayt to pay £191k tax bill

In a bid to avoid bankruptcy Charlie Stayt has paid most of a £191,000 tax bill

16 Jul 2024

Tax | Tax remit at Treasury moves to James Murray

MP James Murray will be responsible for the tax system and HMRC as Exchequer secretary to the Treasury, not Lord Livermore as originally announced

16 Jul 2024

Business | AAB revamps brand as nears £100m turnover

Private equity backed accountancy group AAB has completed a strategic consolidation of its five brands across the UK and Ireland

16 Jul 2024

Careers

Leadership & Management

Image for travel agency cheated holidaymakers out ps600k

Business | Travel agency cheated holidaymakers out of £600k

The High Court has ordered the closure of a travel agency after hundreds of customers were left short of almost £600,000 as it failed to provide hotels and ground services

16 Jul 2024

Restructuring & Insolvency

Image for xeinadin acquires clay shaw thomas

Business | Xeinadin acquires Clay Shaw Thomas

Private equity backed Xeinadin has expanded in Wales with the acquisition of Bridgend-based accountancy firm Clay Shaw Thomas

16 Jul 2024

Careers

Leadership & Management

Image for parliamentary session extended 30 july

Tax | Parliamentary session extended to 30 July

An additional week has been added to the current parliamentary session to give the new Labour government more time to set out their legislative plans

16 Jul 2024

Tax | Webinar on what accountants can expect from Labour

Join our webinar at 11am on 17 July with our tax, accounting and HR experts on what legislative changes to watch out for under Labour

16 Jul 2024

Business | AI in accountancy: friend or foe?

Artificial intelligence has the potential to transform the work of accountants and open up opportunities for more high margin advisory work, but are firms ready to embrace the technology, asks Damon Brain, CEO of Duncan & Toplis

15 Jul 2024

Companies

Business | Companies House releases draft ID verification rules

The process to open a company through Companies House is going to become harder as draft ID verification compliance rules are published

15 Jul 2024

Companies

Image for eel business shuttered after ps275k covid loan abuse

Business | Eel business shuttered after £275k covid loan abuse

A Lincolnshire eel company cheated the covid system by quadrupling turnover to secure a £50,000 bounce back loan and did not stop there

15 Jul 2024

Called to Account

Image for over 500k taxpayers caught 60 tax trap

Tax | Over 500k taxpayers caught by 60% tax trap

More than half a million UK taxpayers caught in 60% tax trap, up nearly a quarter in last year as frozen thresholds bite

15 Jul 2024

Personal Tax

| Kirklees Council narrowly avoids going bust

The West Yorkshire-based council was spared issuing a Section 114 notice but is left with ‘local government finance in crisis’ after overspending by £7.3m

15 Jul 2024