Business &amp; Accountancy Daily

Called to Account

Image for date set private school vat legal challenge

Tax | Date set for private school VAT legal challenge

A court date has been set for April for the parents challenging the government’s policy to charge VAT on private school fees

29 Jan 2025

Tax | Abramovich caught up in superyacht tax avoidance

An investigation by the Bureau of Investigative Journalism suggests that former owner of Chelsea FC, Roman Abramovich, used his superyachts to avoid tax

29 Jan 2025

Tax Compliance

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Tax | Acceptable excuses for a late tax return

HMRC could rake in up to £100m from taxpayers failing to submit their tax returns by this Friday, but there are some valid excuses for a late submission, says Chris Etherington

29 Jan 2025

Tax | Daisy & Ollie animator loses £1.1m EIS tax appeal

The animators of popular children’s cartoon Daisy & Ollie lost an appeal at the Upper Tribunal against tax relief wrongly claimed under enterprise investment scheme (EIS)

29 Jan 2025

HMRC

Case Reports

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Business | How partners can maximise benefits of a private equity deal

Lesley Fordyce and Mark Bell, change directors at Equator, examine the shift from traditional partnership model to a corporate structure, and the impact on business owners

28 Jan 2025

Private Equity

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Tax | High Court rules against HMRC in Mike Ashley data case

Businessman and former Newcastle owner, Mike Ashley has won a case about HMRC’s refusal to disclose all personal data used in a £13m tax dispute

28 Jan 2025

HMRC

Case Reports

Image for qa reclaiming tax deductions staff parties

Tax | Q&A: reclaiming tax deductions on staff parties

In this week’s Q&A, Croner-i tax adviser Andrew Gilderdale gives the lowdown on tax deductions, eligible employees and benefit exemptions for staff parties and events

28 Jan 2025

Business Tax

Tax Compliance

Image for one four charities fail monitor financial reserves

Finance | One in four charities fail to monitor financial reserves

RSM has found that 26% of charities have not reviewed their financial reserves policy in the last 12 months, putting their financial stability at risk

28 Jan 2025

Finance | Experian retains KPMG for £8.3m audit

Credit agency Experian has reappointed KPMG as auditor after a competitive tender, renewing the contract after eight years

28 Jan 2025

Finance

Auditing

Corporate Governance

Image for basic tax return form hits record 88 questions

Tax | Basic tax return form hits record 88 questions

The size of tax returns has ballooned with 19% more questions than just 15 years ago, with eight suppplementary forms making compliance more of a challenge

28 Jan 2025

Business | One time passcode bank fraudster jailed

Three fraudsters who were running an online subscription service for crooks to hack into bank accounts have been sentenced at Snaresbrook Crown Court

28 Jan 2025

Called to Account

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Business | Xeinadin expands with Landmark deal

Private equity backed Xeinadin has acquired Hertfordshire accountancy firm, Landmark Accountants to take its total number of acquisitions to 30 in two years

28 Jan 2025

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Tax | Non doms: what the tax changes mean for HNWI

Elliot Lewis, head of private client at law firm Thackray Williams explains why the non dom changes call for an increased level of cooperation between accountants and private lawyers, despite the chancellor’s Davos tweaks

27 Jan 2025

Tax | Emergency tax codes for first-time pensioners ending

HMRC plans to stop using emergency tax codes for new pensioners after criticism of the way they automatically deduct tax, often at the wrong tax rate, when people first start claiming their pension

27 Jan 2025

Business | SME confidence plunges as Budget tax rises loom

UK SMEs are reporting plummeting levels of confidence going into 2025 largely based off Rachel Reeves’ Autumn Budget announcements

27 Jan 2025

Companies

Image for judge raps taxpayer over hyperbolic claims ps700k tribunal

Tax | Judge raps taxpayer over hyperbolic claims at £700k tribunal

A South African appellant has lost his appeal against historic tax assessments dating back to 1999 as well as penalties accrued over 17 years after deliberately failing to declare income despite ‘unjustifiable’ allegations of racism

27 Jan 2025

Tax | DWP yet to hold open consultation on Public Authorities Bill

The Department for Work and Pensions (DWP) is still to consult on the Public Authorities (Fraud, Error & Recovery) Bill after announcing drastic punishments for benefits cheats last week

27 Jan 2025

Politics

Image for zoo digital group hires haysmac ps190k audit

Finance | Zoo Digital Group hires HaysMac for £190k audit

AIM listed media services provider Zoo has appointed HaysMac as auditor following the resignation of Grant Thornton after 12 years in post

27 Jan 2025

Finance

Auditing

Corporate Governance

Image for sumer focus tilts ggi global alliance venture

Business | Sumer focus tilts with GGI Global Alliance venture

Private equity backed Sumer has joined GGI Global Alliance, the international association of accountancy and professional services firms, to drive growth

27 Jan 2025

Private Equity

Image for baker slapped 12 year ban over ps98k loan fraud

Business | Baker slapped with 12-year ban over £98k loan fraud

A baker and hairdresser from Sheffield claimed two separate covid loans totalling £98,000 for a new business which only traded for two weeks

27 Jan 2025