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Image for regulator slates auditors bdo and forvis mazars

Finance | Regulator slates auditors at BDO and Forvis Mazars

Mid-tier firms BDO and Forvis Mazars have been heavily criticised by the regulator in the annual AQI for the quality of their audit work, which fell ‘significantly below expectations’

30 Jul 2024

Corporate Governance

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Tax | Non doms face inheritance tax charges

Non doms will see a harsh tax environment from next year with Labour plans to clamp down on the ‘outdated’ tax advantage and overhaul their inheritance tax liability

30 Jul 2024

Inheritance Tax

Image for tax breaks under rd intensive support scheme smes

Tax | Tax breaks under R&D intensive support scheme for SMEs

Richard Edwards, CEO of R&D Community, explains how the targeted research and development scheme known as ERIS works for loss making SMEs

30 Jul 2024

Image for aqi 2024 kpmg makes notable turnaround audit work

Finance | AQI 2024: KPMG makes 'notable' turnaround in audit work

KPMG has overhauled its audit business after intensive remedial action in the last three years, with FRC inspectors noting a consistent improvement in audit work

30 Jul 2024

Corporate Governance

Image for aqi 2024 ey needs focus audit consistency

Finance | AQI 2024: EY needs to focus on audit consistency

EY needs to develops its use of effectiveness measures to ensure it maintains a high level of audit quality and maintains consistency in audit work

30 Jul 2024

Corporate Governance

Image for aqi 2024 deloitte must avoid potential conflicts interest

Finance | AQI 2024: Deloitte must avoid potential conflicts of interest

Deloitte outperformed other Big Four firms but needs to improve global conflict management system

30 Jul 2024

Corporate Governance

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HR | Auditors working up to 70 hours a week

Audit staff are putting in excessive hours and a lack of work life balance is the main reason people quit the profession

30 Jul 2024

Leadership & Management

Image for hike windfall tax tax breaks abolished

Tax | Hike in windfall tax as tax breaks abolished

The rate of windfall tax on energy giants will go up to 38% in November and most tax breaks will be removed

30 Jul 2024

Image for 320k mortgage holders pushed poverty warns ifs

| 320k mortgage holders pushed into poverty, warns IFS

Thousands of households remortgaging since interest rate hikes in 2022 have seen their income drop significantly putting them at risk of falling into poverty

30 Jul 2024

Image for aqi 2024 pwc audit teams need avoid inconsistency

Finance | AQI 2024: PwC audit teams need to avoid inconsistency

PwC must pay closer attention to ethical conduct in order to maintain its usual high audit quality on complex, non high risk audit work

30 Jul 2024

Corporate Governance

Image for care home recruiters evaded ps35m tax

Business | Care home recruiters evaded £35m in tax

The masterminds behind a multimillion tax evasion have been banned from acting as directors with only £7m repaid to HMRC while one director was jailed

30 Jul 2024

Called to Account

Image for fraudster invoked hmrc account freeze ps360k fraud

Business | Fraudster invoked HMRC account freeze in £360k fraud

A fraudster from Liverpool has been jailed after defrauding a Chester couple out of more than £360,000 by pretending HMRC had frozen his account

30 Jul 2024

Called to Account

29 Jul 2024

Image for vat school fees january 2025

| VAT on school fees from January 2025

As the Chancellor was speaking in the House of Commons the Treasury published draft legislation on VAT for private school fees with forestalling measures from October

29 Jul 2024

Image for pension annual allowance how avoid tax inquiry

Tax | Pension annual allowance: how to avoid a tax inquiry

A hugely complex pension tax regime creates a minefield of compliance issues. Danielle Ford, partner at haysmacintyre explains what to do to avoid triggering additional tax charges under annual allowance rules

29 Jul 2024

Image for tax clampdown private equity investors gets greenlight

Tax | Tax clampdown on private equity investors gets greenlight

Private equity investors face an overhaul of their favourable tax status on carried interest as the Chancellor promises ‘decisive action’ to close a perceived loophole

29 Jul 2024

Image for furnished holiday lets face tax hike april

Tax | Furnished holiday lets face tax hike from April

The Chancellor is going ahead with plans to abolish the furnished holiday lettings (FHL) tax regime from April 2025 as draft legislation is published

29 Jul 2024

Image for chilling decision abolish winter fuel payment

Tax | ‘Chilling’ decision to abolish winter fuel payment

In a surprise move, described as ‘chilling’ by one MP, the Chancellor has announced plans to abolish the winter fuel payment for all but the poorest pensioners

29 Jul 2024

Image for first labour budget set 30 october

Tax | First Labour Budget set for 30 October

The Budget will be held on Wednesday 30 October, the Chancellor has confirmed as she set out plans to deal with an 'unsustainable' £22bn blackhole

29 Jul 2024

Image for hmrc sends 140k pensioners tax bills

Tax | HMRC sends 140k pensioners tax bills

Over 140,000 pensioners are going to have to pay tax for the first time as HMRC writes to over half a million taxpayers who have taxable income but are not in self assessment

29 Jul 2024

Image for miserable fantasist fraudster struck again

Business | ‘Miserable fantasist’ fraudster struck off again

The director of a travel agency who has changed his name three times to create new companies was already banned for 15 years when an investigation began

29 Jul 2024

Restructuring & Insolvency

Image for failed ftx crypto investors will see claims paid full

Business | Failed FTX crypto investors will see claims paid in full

The liquidators of collapsed FTX crypto exchange have confirmed that customers of FTX.com can have their claims handled in the Bahamas Supreme Court as well as the US

29 Jul 2024

Restructuring & Insolvency

Image for businesses want tax certainty not constant change

Tax | Businesses want tax certainty, not constant change

The majority of businesses want a moratorium on tax changes from the new chancellor, with calls for a roadmap setting out future tax plans

29 Jul 2024

Image for streets merges andrew wright co

Business | Streets merges with Andrew Wright & Co

Top 40 firm Streets has signed a deal with Wakefield accountants, Andrew Wright & Co which will see the firms merge and rebrand

29 Jul 2024

Accountancy Firms

Leadership & Management

Image for regulator set review broken nhs audit market

Finance | Regulator set to review broken NHS audit market

As the NHS struggles to find auditors, the regulator has launched a market study into supply problems and shortage of auditors

29 Jul 2024

Audit Consultations

Image for hmrc losing patience companies failing pay tax

Business | HMRC losing patience with companies failing to pay tax

The number of companies forced to close following petitions by creditors, especially HMRC, jumped 63% to 2,067 in 2023

29 Jul 2024

Restructuring & Insolvency

26 Jul 2024

Image for lycamobile faces ps51m vat bill over bundled charges

Tax | Lycamobile faces £51m VAT bill over bundled charges

The First Tier Tribunal has ruled that mobile phone operator Lycamobile does owe up to £51m in VAT on plan bundles in long-running dispute

26 Jul 2024

Image for job interview tips and red flags watch out

HR | Job interview tips and red flags to watch out for

Job interviews are not one-way and candidates should be assessing the company as much as the interviewer. Cristiano Winckler at Somebody Digital explains the six biggest red flags to watch out for at your next interview

26 Jul 2024

Image for revolut given uk banking licence

Business | Revolut given UK banking licence

After years of lobbying, global fintech Revolut has been given a UK banking licence but will be under initial restrictions from the Prudential Regulation Authority (PRA)

26 Jul 2024

Accountancy Firms

Image for bbc presenter jailed ps120k power attorney theft

Business | BBC presenter jailed for £120k power of attorney theft

Former BBC TV presenter Hayley Matthews has been jailed after admitting to stealing £120,000 from her mother’s bank accounts who was suffering from dementia

26 Jul 2024

Called to Account

Image for third local councils face colossal financial challenges

| Third of local council’s face ‘colossal financial challenges’

Section 114 notices warning of bankruptcy have become a common occurrence at local councils over the past few years as financial pressures build

26 Jul 2024

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Business | Crowe joins Hidden Disabilities Sunflower network

Crowe UK has joined the Hidden Disabilities Sunflower network to raise awareness of disabilities and underline its commitment to providing an inclusive, safe workspace

26 Jul 2024

Accountancy Firms

Leadership & Management

Image for fca fines crypto trading platform ps35m lax controls

Business | FCA fines crypto trading platform £3.5m for lax controls

The Financial Conduct Authority takes first enforcement action against Coinbase firm enabling cryptoasset trading by high risk customers

26 Jul 2024

Called to Account

Image for people news crowe clive owen bdo

HR | People in the news: Crowe, Clive Owen, BDO

In this week’s accountancy career moves, partner promotions and hires at PwC, RSM, Birketts, PKF Littlejohn Advisory, Armstrong Watson, Burgis & Bullock

26 Jul 2024

Leadership & Management

Image for what sexual harassment duty employers means

Business | What sexual harassment duty for employers means

Changes to employment law will see a preventative duty on employers to prevent sexual harassment from October

26 Jul 2024