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Image for hmrc accused misusing powers amend rd claims

Tax | HMRC accused of ‘misusing’ powers to amend R&D claims

An accountancy firm has accused HMRC of correcting up to 2,100 research and development (R&D) tax relief claims, claiming it is abuse of its powers which HMRC said is ‘simply untrue’

21 Aug 2024

Tax

Business Tax

HMRC

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Business | ‘Underlying data should be trustworthy’ when using AI in audit

After 15 years of investment in AI in audit, EY global assurance digital leader, Marc Jeschonneck tells Accountancy Daily it has ‘dramatically changed’ the profession

21 Aug 2024

Business

Accountancy Firms

AI & Technology

Image for how will icaew monitor tougher cpd rules

HR | How will ICAEW monitor tougher CPD rules?

As the anniversary of the new ICAEW CPD framework approaches, the institute will soon start monitoring compliance by individual members and firms

21 Aug 2024

HR

Careers

Leadership & Management

Training & CPD

Business

Accountancy Firms

Tax | £1.2bn paid in stamp duty in July

The amount of tax paid on property purchases is rising by the month and with the threshold set to be cut in 2025 more people will be dragged into stamp duty land tax

21 Aug 2024

Tax | HMRC clarifies compliance with VAT One Stop Shop

HMRC has published details on how to cancel or make changes to VAT One Stop Shop (OSS) Union scheme registrations

21 Aug 2024

Tax | UN plans global tax powers to replace OECD role

In a move strongly supported by developing countries, the UN has agreed to finalise a framework on international tax rules and anti-avoidance measures by 2027

21 Aug 2024

Tax

International Tax

Image for bpp train civil service accountancy apprentices

HR | BPP to train civil service accountancy apprentices

BPP has won a contract to deliver accountancy apprenticeships to over 600 civil servants nationwide

21 Aug 2024

Tax | 10 days to extend child benefit for 16 to 19 year olds

HMRC is urging nearly a million parents with 16 to 19 year old children in education that they must renew child benefit claims urgently or lose the payment

21 Aug 2024

Tax

Personal Tax

Image for footgolf director sentenced ps50k covid fraud

Business | Footgolf director sentenced for £50k covid fraud

The director of a footgolf leisure complex has been banned from being a director and handed a suspended sentence due to fraudulently using his Covid loan

21 Aug 2024

Business

Restructuring & Insolvency

Called to Account

Image for bhs boss pay ps56m letting retailer fail

Business | BHS boss to pay £56m for letting retailer fail

Dominic Chappell, former CEO of collapsed retail group BHS, has been ordered to pay £56m in compensation for wrongful trading

20 Aug 2024

Business

Companies

Restructuring & Insolvency

Image for qa rd tax relief overseas contractors

Tax | Q&A: R&D tax relief on overseas contractors

In this week’s Q&A, Croner-i tax adviser David Lawson explains when R&D tax relief is available for overseas workers and contractors

20 Aug 2024

Tax

Business Tax

Tax Compliance

Image for pub landlord blames accountant ps100k late tax appeal

Tax | Pub landlord blames accountant for £100k late tax appeal

An 'off' accountant was not a valid reason to file a claim for an appeal more than two and a half years late over a tax bill for undisclosed rental income

20 Aug 2024

Tax

Personal Tax

Case Reports

Image for dividend tax take set hit record ps178bn

Tax | Dividend tax take set to hit record £17.8bn

The number of people expected to pay dividend tax in the current tax year is likely to have doubled in just three years as the tax-free allowance is slashed

20 Aug 2024

Finance | 880k pensioners fail to claim £3.9k pension credit

Hundreds of thousands of pensioners who are eligible for pension credit do not claim the benefit which is worth up to £3,900 a year per household

20 Aug 2024

Finance

Pensions

Image for deloitte wins ps2m discoverie group audit

Finance | Deloitte wins £2m DiscoverIE Group audit

Listed discoverIE Group plc has swapped Big Four auditor PwC with the appointment of Deloitte

20 Aug 2024

Finance

Auditing

Corporate Governance

Image for top tips navigating fcas updated listing rules

Finance | Top tips for navigating FCA’s updated listing rules

Adam Zoucha, SVP at FloQast, examines what the listing rule changes mean for finance teams and how they impact planning for IPOs

20 Aug 2024

Finance

Financial Reporting

Image for first king charles ps1 coins buzz circulation

Business | First King Charles £1 coins buzz into circulation

Coin collectors are encouraged to keep an eye on their change for a piece of history, as King Charles III’s first £1 coin enters circulation this week

20 Aug 2024

Business

Companies

Accountancy Firms

Image for highest insolvency figures 2019

Business | Highest insolvency figures since 2019

There were 2,191 company insolvencies in July 2024 with construction and hospitality businesses hard hit

20 Aug 2024

Business

Restructuring & Insolvency

Image for grant thornton hits back over birmingham financial fiasco

Finance | Grant Thornton hits back over Birmingham financial ‘fiasco’

Birmingham Council and Grant Thornton have been told to answer for the ‘fiasco’ of a financial situation which led the council to file a section 114 notice in 2023

19 Aug 2024

Corporate Governance

Public Sector

Image for fraudsters target companies fake hmrc letters

Tax | Fraudsters target companies with fake HMRC letters

HMRC is warning business owners to ignore a letter from fraudsters pretending to be the tax authority and demanding confidential business information and bank statements

19 Aug 2024

Tax

HMRC

Tax Compliance

Image for grant thornton set open pe bids september

Business | Grant Thornton set to open PE bids in September

Mid-tier firm Grant Thornton is understood to be going ahead with plans to secure private equity funding with a bid process likely to kick off next month

19 Aug 2024

Business

Accountancy Firms

Private Equity

Leadership & Management

Image for tandoori owner faked ps48k eat out help out claim

Business | Tandoori owner faked £48k Eat Out to Help Out claim

Abuse of the Eat Out to Help Out scheme was widespread with a Lichfield restaurant owner fraudulently claiming nearly £50,000 but only getting a director ban

19 Aug 2024

Business

Called to Account

Image for legal updates implementation articles association

Finance | Legal updates: implementation of articles of association

Sophie Brookes and Debbie Shaw assess High Court ruling on leaver provisions and share values in Syspal, ambiguous drafting in Cantor case and changes to listing rules

19 Aug 2024

Finance

Law and Regulation