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Image for accountant failed pay ps116k tax sideline work

Tax | Accountant failed to pay £116k tax for sideline work

An accountant who was paid by people to complete their tax returns as a gig job outside his PAYE employment failed to pay tax on these ad hoc earnings

6 Nov 2024

Tax

HMRC

Case Reports

Image for miner china interests drops pwc auditor

Finance | Miner with China interests drops PwC as auditor

London listed Griffin Mining has replaced PwC with BDO with immediate effect to fill a ‘casual vacancy’, stressing decision not influenced by China fine on Big Four auditor

6 Nov 2024

Finance

Auditing

Corporate Governance

Image for budget 2024 charity gift aid rules be strengthened

Tax | Budget 2024: Charity Gift Aid rules to be strengthened

HMRC is planning to clamp down on charitable tax reliefs claimed through Gift Aid, but not until 2026 to ‘give charities time to adjust to the new rules’

6 Nov 2024

Tax | EU set to adopt e-invoicing for VAT

In a sweeping change to EU VAT rules, the European council has agreed to go ahead with electronic invoicing and real-time data reporting

6 Nov 2024

Tax

International Tax

VAT

Image for scrutton bland snaps jacobs allen

Business | Scrutton Bland snaps up Jacobs Allen

Scrutton Bland, part of Sumer Group, has acquired Suffolk based accountancy firm Jacobs Allen

6 Nov 2024

Business

Accountancy Firms

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HR | IFA partnership with Croner-i to enhance member benefits

The Institute of Financial Accountants (IFA) has signed strategic partnerships with Croner-i and Clearview FX to further boost its member offering

6 Nov 2024

HR

Work

Careers

Leadership & Management

Image for implications cgt rises and planning opportunities

Tax | Implications of CGT rises and planning opportunities

With hikes in capital gains tax in the Budget, Steph Hurst, tax director at Monahans, looks at the options for business owners considering ownership and structural changes

5 Nov 2024

Tax

Tax Planning

Budget

Image for bmw and flat must be sold repay ps50k covid loan

Business | BMW and flat must be sold to repay £50k Covid loan

A director from Ilford was ordered to sell a BMW purchased with a fraudulently claimed £50,000 bounce back loan as well as his flat in east London to repay the loan in full

5 Nov 2024

Business

Called to Account

Image for budget 2024 llp tax loophole closed event liquidation

Tax | Budget 2024: LLP tax loophole closed in event of liquidation

In a bid to close a tax loophole, the Budget swept through an immediate change to tax rules apply to tax on gains in the event of the liquidation of a limited liability partnership

5 Nov 2024

Finance | Cladding removal fund defrauded of £575k

The National Audit Office (NAO) has identified abuse of the government’s fund to help developers pay for the removal of dangerous cladding across the UK

5 Nov 2024

Tax | Tuition fees to rise by 3.1% from September

Students face a hike in tuition fees as education secretary Bridget Phillipson confirmed a rise from £9,250 to £9,535 in September 2025

5 Nov 2024

Tax | Mel Stride named as shadow Chancellor

One time Treasury minister Mel Stride has been appointed shadow Chancellor as new Conservative leader Kemi Badenoch's cabinet takes shape

5 Nov 2024

Tax

Politics

Image for budget glance what you need know

Tax | Budget at a glance: what you need to know

After Chancellor Rachel Reeves’ first Budget on 30 October, the Business & Accountancy Daily team gives a rundown of 28 measures affecting businesses, accountants and tax advisers with details of the changes, reaction from accountants and implications for business

5 Nov 2024

Tax

Tax Planning

Budget

Image for bizarre transition rules give non doms easy exit

Tax | ‘Bizarre’ transition rules give non doms easy exit

The government is digging a deeper fiscal black hole with non-dom changes as a result of favourable transition rules for 10-year inheritance tax rule

5 Nov 2024

Business | 20:20 Innovation snaps up RossMartin

Practice development firm 20:20 Innovation has acquired tax consultancy RossMartin, along with its specialist Virtual Tax Partner service

5 Nov 2024

Business

Companies

Accountancy Firms

Image for all tax advisers will have register hmrc

Business | All tax advisers will have to register with HMRC

In a bid to clamp down on rogue tax practitioners and to stamp out unethical operators, the government will introduce mandatory registration for all tax advisers dealing with HMRC from 2026

4 Nov 2024

Business | Moore Kingston Smith merges with £18m Shipleys

Independently owned accountancy firm Shipleys has merged with private equity backed Moore Kingston Smith LLP in a surprise deal

4 Nov 2024

Business

Accountancy Firms

Private Equity

Image for farmers plan action against inheritance tax hike

Tax | Farmers plan action against inheritance tax hike

Uproar among the farming community has seen urgent action to coordinate a march on parliament to demonstrate against the carve-out of agricultural property relief

4 Nov 2024

Tax

Inheritance Tax

Budget

Image for private schools use human rights law challenge vat

Tax | Private schools use human rights law to challenge VAT

The Independent Schools Council is gearing up to fight the decision taken by Labour to charge VAT on private school fees from 1 January 2025

4 Nov 2024

Tax | Lycamobile to appeal £51m VAT ruling

An appeal to the Upper Tribunal was filed by Lycamobile after it lost a £51m VAT dispute with HMRC back in July

4 Nov 2024

Tax | Budget 2024: recruiters using umbrella companies caught by tax liability

In a clampdown on umbrella companies, recruitment agencies will have to pay PAYE income tax and national insurance on wages paid to workers

4 Nov 2024

Tax

Employment Tax

Budget

Finance | Focusrite hires EY for £1m audit

AIM listed Focusrite has swapped Big Four auditors with the appointment of EY, replacing KPMG after tender process

4 Nov 2024

Finance

Auditing

Corporate Governance

Image for home improvement builder collapsed owing ps100k tax

Business | Home improvement builder collapsed owing £100k tax

The boss of an Essex building firm failed to pay tax and took more than £300,000 in deposits for home improvements work never completed when the business was insolvent

4 Nov 2024

Business

Called to Account

Image for budget 2024 vape liquid will be taxed ps220 10ml

Tax | Budget 2024: vape liquid will be taxed £2.20 per 10ml

Vaping has been added to the list of vice taxes with the Chancellor bringing vape liquids into the tax fold at a flat rate from 1 October 2026

4 Nov 2024

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Latest news

Tax | Accountant failed to pay £116k tax for sideline work

Finance | Miner with China interests drops PwC as auditor

Tax | Budget 2024: Charity Gift Aid rules to be strengthened

Tax | EU set to adopt e-invoicing for VAT

Business | Scrutton Bland snaps up Jacobs Allen

HR | IFA partnership with Croner-i to enhance member benefits

Tax | Implications of CGT rises and planning opportunities

Business | BMW and flat must be sold to repay £50k Covid loan

Tax | Budget 2024: LLP tax loophole closed in event of liquidation

Finance | Cladding removal fund defrauded of £575k

Tax | Tuition fees to rise by 3.1% from September

Tax | Mel Stride named as shadow Chancellor

Tax | Budget at a glance: what you need to know

Tax | ‘Bizarre’ transition rules give non doms easy exit

Business | 20:20 Innovation snaps up RossMartin

Business | All tax advisers will have to register with HMRC

Business | Moore Kingston Smith merges with £18m Shipleys

Tax | Farmers plan action against inheritance tax hike

Tax | Private schools use human rights law to challenge VAT

Tax | Lycamobile to appeal £51m VAT ruling

Tax | Budget 2024: recruiters using umbrella companies caught by tax liability

Finance | Focusrite hires EY for £1m audit

Business | Home improvement builder collapsed owing £100k tax

Tax | Budget 2024: vape liquid will be taxed £2.20 per 10ml