Business &amp; Accountancy Daily

Public Sector

Image for hmrc fails crack down ps45bn sme tax avoidance

Tax | HMRC fails to crack down on £4.5bn SME tax avoidance

Up to £5.5bn is estimated have been lost through tax evasion with 81% being down to small businesses avoiding and evading tax with takeaways, small retailers and candy shops the worst, NAO report finds

9 Sep 2024

HR | Employment reforms will curb job hiring

The majority of businesses are likely to reduce hiring as a result of Labour’s employment rights reforms, including day one rights for new staff

9 Sep 2024

Work

Image for deadline sme banking complaints looms

Business | Deadline for SME banking complaints looms

SMEs have only three months left to register a business banking complaint with the Business Banking Resolution Service (BBRS) before it is disbanded

9 Sep 2024

Companies

Image for legal updates 10 year restrictive covenant unenforceable

Finance | Legal updates: 10-year restrictive covenant unenforceable

Sophie Brookes and Debbie Shaw of Gateley examine court rulings on restrictive covenants in Literacy Capital, validity of appointment of insolvency practitioner in Bland and prospectus regime reform

9 Sep 2024

Law and Regulation

Corporate Governance

Finance | CLS hires BDO for £770k audit

CLS Holdings has appointed BDO to replace Big Four auditor EY with immediate effect

9 Sep 2024

Auditing

Corporate Governance

Image for genealogy charity trustees banned after ps113k misspend

Business | Genealogy charity trustees banned after £113k misspend

The Charity Commission has disqualified two former trustees of Burke’s Peerage Foundation for failing to file accurate accounts and misappropriation of funds

9 Sep 2024

Called to Account

Image for national living wage likely rise 57

HR | National living wage likely to rise by 5.7%

Move to increase 18-20 year old rate of national minimum wage will begin from 2025 but will not be instant

6 Sep 2024

HR | 40% of payroll staff plan to quit jobs

The payroll sector is heading towards a ‘looming skills gap’ as 40% of staff look to leave the industry within five years

6 Sep 2024

Work

Business | PwC moves the goalposts on hybrid working

All PwC staff will have to work in the office for three days a week and attend client meetings in person from January

6 Sep 2024

Image for tax breaks start ups extended 2035

Tax | Tax breaks for start-ups extended to 2035

The Treasury has confirmed the extension of the Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) tax reliefs to April 2035

6 Sep 2024

Business | Maximum fraud refund to be slashed to £85k

Fraud is rife in the UK with it being the most common crime committed but the regulator is reducing the maximum refund for fraud victims from £415,000 to £85,000 from 7 October

6 Sep 2024

Companies

Image for uk signs first treaty risks ai

Business | UK signs first treaty on risks of AI

The UK and Europe have signed the first international treaty addressing risks of artificial intelligence covering 48 countries

6 Sep 2024

AI & Technology

Law and Regulation

Image for people news forvis mazars prime ams group

HR | People in the news: Forvis Mazars, Prime, AMS Group

In this week’s accountancy career moves, partner promotions and hires at Forvis Mazars, Prime, Grant Thornton, AMS Group, Evelyn Partners, Azets, George Hay and 100s of trainees hired

6 Sep 2024

Image for fake police officer charged ps3k pensioner theft

Business | Fake police officer charged in £3k pensioner theft

A man from London has been charged with fraud after cheating an elderly victim out of £3,000 while pretending to be a police officer

6 Sep 2024

Called to Account

Image for mps allowed debate winter fuel payment axe

Tax | MPs allowed to debate winter fuel payment axe

There is still a faint hope the winter fuel payment could be saved for needy pensioners who are dreading the winter

6 Sep 2024

Tax

Politics

Image for qa flexible working and compressed hours

HR | Q&A: flexible working and compressed hours

My client has received a flexible working request from an employee asking for compressed hours over four days. Do we have to facilitate this?

6 Sep 2024

Work

Image for shop owner hiding ps150k profit loses vat appeal

Tax | Shop owner hiding £150k of profit loses VAT appeal

Off-licence owner deliberately misled HMRC about his VAT tax returns and used untaxed earnings to pay his mortgage and car lease

5 Sep 2024

Tax

Case Reports

Image for businesses far comfortable employment rights overhaul

Tax | Businesses ‘far from comfortable’ with employment rights overhaul

Sweeping changes to employment rights for workers will be set out in draft legislation by 14 October at the latest, minister confirms

5 Sep 2024

HR | Grant Thornton signs up first charities for Foundation

Magic Breakfast and The Baytree Centre will be the first charity beneficiaries of the newly established Grant Thornton Foundation as the accountancy firm kicks off philanthropic work with £40,000 donation

5 Sep 2024

Image for labour cans plan flawed british isa

Business | Labour cans plan for flawed British ISA

The British ISA was announced by Jeremy Hunt in his last Budget but Labour is moving quickly to drop the shares based ISA

5 Sep 2024

Image for bolton data boss banned ps145k council fraud

Business | Bolton data boss banned for £145k council fraud

At the height of the pandemic, the director of a data processing business took advantage of 21 local councils to claim numerous business grants

5 Sep 2024

Called to Account

Image for gri and ifvi team improve impact accounting

Finance | GRI and IFVI team up to improve impact accounting

The Global Reporting Initiative and International Foundation for Valuing Impacts have signed a partnership to improve reporting and comparability on sustainability data in accounts

5 Sep 2024

Financial Reporting

ESG & Sustainability

Image for frp advisory signs williams ali acquisition

Business | FRP Advisory signs off Williams Ali acquisition

AIM listed FRP Advisory has acquired Newcastle based Williams Ali CF Limited

5 Sep 2024