Business & Accountancy Daily | Business & Accountancy Daily

Latest news

Image for ex bdo auditor banned after sustained dishonesty client audits

Finance | Ex BDO auditor banned after ‘sustained dishonesty’ on client audits

A former senior manager at BDO has been banned from working as an accountant and auditor for 20 years after falsifying documents, misusing partner signatures and deceiving audit partners

14 Nov 2024

Finance

Auditing

Corporate Governance

Image for changes director loan rules stop tax avoidance

Tax | Changes to director loan rules to stop tax avoidance

Anti-avoidance rules have been tightened up to ensure shareholders cannot extract funds untaxed from close companies with immediate effect

14 Nov 2024

Finance | Chancellor plans megafund overhaul of local authority pensions

In a bid to release billions from local authority pension funds, the Chancellor is planning radical reform to consolidate fragmented pots into up to six megafunds

14 Nov 2024

Finance

Pensions

Image for hazlewoods expands first cardiff office

Business | Hazlewoods expands with first Cardiff office

Top 30 firm Hazlewoods has opened a new Welsh office in Cardiff to meet growing demand for its services in south Wales

14 Nov 2024

Leadership & Management

Image for xeinadin acquires devonports las accountants

Business | Xeinadin acquires Devonports LAS Accountants

Private equity backed Xeinadin continues on the acquisition trail after a deal with Devonports LAS Accountants, expanding its reach in Essex

14 Nov 2024

Business

Accountancy Firms

Private Equity

Image for hmrc turns down two thirds rd tax claims

Tax | HMRC turns down two thirds of R&D tax claims

Tougher rules have resulted in 72% of research & development tax relief claims rejected by HMRC, including a third that were initially approved

14 Nov 2024

Tax

Business Tax

HMRC

Image for frc sets local audit training criteria tackle auditor shortage

Finance | FRC sets local audit training criteria to tackle auditor shortage

In a bid to end the dire shortage of public sector auditors, the Financial Reporting Council (FRC) has published the criteria to assess local audit specialist training programmes

14 Nov 2024

Tax | Can technology save you from Pillar Two fatigue?

Preparing for Pillar Two global 15% base tax rules is no easy task with the challenge of mass consolidation and interpretation of data from disparate sources, explains Russell Gammon, Tax Systems

14 Nov 2024

Tax | HMRC cuts late payment interest rate to 7.25%

Following the November cut in the base rate, HMRC will reduce late payment and repayment interest rates from 18 November

14 Nov 2024

Tax

HMRC

Tax Compliance

Image for director faces ps87k bill excessive furlough claim

Tax | Director faces £87k bill for ‘excessive’ furlough claim

HMRC has won a case at tribunal over a disputed £175,000 claim for furlough support payments based on future agreed earnings for family members during pandemic

13 Nov 2024

Tax

HMRC

Case Reports

Image for homebase stores go administration

Business | Homebase stores go into administration

The owners of Homebase have appointed administrators from Teneo and have sold part of the business to The Range

13 Nov 2024

Business

Companies

Restructuring & Insolvency

Image for cml hires cooper parry ps210k global audit

Finance | CML hires Cooper Parry for £210k global audit

Listed CML Microsystems plc has hired private equity backed Cooper Parry as statutory auditor, replacing BDO after three years

13 Nov 2024

Finance

Auditing

Corporate Governance

Image for less half businesses have net zero targets

Finance | Less than half of businesses have net zero targets

The majority of UK mid-sized businesses do not have sustainability targets in place and are put off by ever-changing, incoherent regulations

13 Nov 2024

Finance

Financial Reporting

ESG & Sustainability

Image for using data management improve quality accounting

Finance | Using data management to improve quality of accounting

Accountants are struggling to analyse the sheer volume of data they have to handle, but in the transition to more automated systems they must not ignore ethical issues, warns Shagun Malhotra, founder of SkyStem LLC

13 Nov 2024

Finance

Financial Reporting

Corporate Governance

Image for can corporate reporting drive decarbonisation

Finance | Can corporate reporting drive decarbonisation?

As delegates meet at COP29 in Baku, Tara Norton, advisory senior director at LRQA asks whether more sustainability and ESG reporting will result in better outcomes

13 Nov 2024

Business | Shaw Gibbs merges with Langdowns DFK

Private equity backed Shaw Gibbs expands office network after merger with Hampshire accountants, Langdowns DFK

13 Nov 2024

Business

Accountancy Firms

Private Equity

Image for qa tax and lease payments directors car

Tax | Q&A: tax and lease payments for director’s car

In this week’s VIP Tax Team Q&A, how is tax on lease payments and fuel costs for a director’s vehicle treated under benefits in kind rules when paid through director’s loan account?

12 Nov 2024

HR | 45% of professional services workers are hybrid

More than a quarter of the country is now hybrid working while 45% of professional services and nearly half of IT workers have the most flexibility

12 Nov 2024

HR

Work

Careers

Leadership & Management

Image for bolt drivers classified workers not contractors

Business | Bolt drivers classified as workers, not contractors

A tribunal has ruled that Bolt drivers can be classified as workers which means the taxi hailing app will have to pay national minimum wage and holiday pay

12 Nov 2024

Finance | IASB consults on changes to accounting for provisions under IAS 37

The International Accounting Standards Board (IASB) is planning targeted amendments to IAS 37 accounting rules to improve reporting of provisions on balance sheets

12 Nov 2024

Accounting Consultations

Image for metro bank fined ps16m financial crime failings

Business | Metro Bank fined £16m for financial crime failings

Failure to conduct adequate financial crime checks on customer transactions has led to a fine of £16,675,200 for challenger bank

12 Nov 2024

Business | Insurance broker fined £1.1m for misusing client funds

The sole director of a Coventry insurance broker has been banned from working in financial services after diverting funds due to insurers to his personal bank account

12 Nov 2024

Business

Called to Account

Image for tax filing deadlines nov 2024 mar 2025

Tax | Tax filing deadlines: Nov 2024 to Mar 2025

Deadline for corporation tax for accounting periods ended 28 February 2024

12 Nov 2024

Business | Complete our year end survey on 2025 concerns

With 2025 fast approaching, let us know your key concerns in our survey

12 Nov 2024

Business

Companies

Accountancy Firms

Tax | CPD module: latest changes to tax rules

In this month’s exclusive free Business & Accountancy Daily CPD module, we focus on the latest developments in tax from rule changes to rates, and the impact of recent tax tribunal decisions.

12 Nov 2024

Navigate

Tax Services

Latest news

Finance | Ex BDO auditor banned after ‘sustained dishonesty’ on client audits

Tax | Changes to director loan rules to stop tax avoidance

Finance | Chancellor plans megafund overhaul of local authority pensions

Business | Hazlewoods expands with first Cardiff office

Business | Xeinadin acquires Devonports LAS Accountants

Tax | HMRC turns down two thirds of R&D tax claims

Finance | FRC sets local audit training criteria to tackle auditor shortage

Tax | Can technology save you from Pillar Two fatigue?

Tax | HMRC cuts late payment interest rate to 7.25%

Tax | Director faces £87k bill for ‘excessive’ furlough claim

Business | Homebase stores go into administration

Finance | CML hires Cooper Parry for £210k global audit

Finance | Less than half of businesses have net zero targets

Finance | Using data management to improve quality of accounting

Finance | Can corporate reporting drive decarbonisation?

Business | Shaw Gibbs merges with Langdowns DFK

Tax | Q&A: tax and lease payments for director’s car

HR | 45% of professional services workers are hybrid

Business | Bolt drivers classified as workers, not contractors

Finance | IASB consults on changes to accounting for provisions under IAS 37

Business | Metro Bank fined £16m for financial crime failings

Business | Insurance broker fined £1.1m for misusing client funds

Tax | Tax filing deadlines: Nov 2024 to Mar 2025

Business | Complete our year end survey on 2025 concerns

Tax | CPD module: latest changes to tax rules