Business &amp; Accountancy Daily

Restructuring & Insolvency

Companies

Image for inflation fears keep interest rate frozen 45

Business | Inflation fears keep interest rate frozen at 4.5%

An overwhelming majority of Bank of England members voted to keep interest rates at 4.5%, as fears about inflation stalked the corridors of Threadneedle Street

20 Mar 2025

Companies

Image for ey roll out nvidia ai agents all tax teams

Business | EY to roll out Nvidia AI agents for all tax teams

Big Four giant EY has strengthened ties with chipmaker Nvidia in a move to develop specialised AI agents using the EY.ai Agentic platform, with tax teams the first to have access

20 Mar 2025

Business | Xeinadin snaps up £5m Raffingers in London move

Private equity backed Xeinadin has signed a deal with London based accountancy firm Raffinger, the biggest acquisition for the group

20 Mar 2025

Finance | Directors should be held accountable, says audit regulator

Audit regulator calls for tougher rules to make directors liable for accounting and audit failures, instead of just the auditors

20 Mar 2025

Audit Regulations

Image for bedford consultant banned ps11m accounts blackhole

Business | Bedford consultant banned for £1.1m accounts blackhole

A director from Bedfordshire has been banned after failing to ever file company accounts, going bust owing more than £300,000 in tax and over £1m in unexplained payments

20 Mar 2025

Called to Account

Image for local authority accounts slated closed book

Finance | Local authority accounts slated as ‘closed book’

Government accounts fail to provide transparency on the real financial position of local authorities, continually breach audit sign-off deadlines and ignore long-term financial risks, warns PAC

19 Mar 2025

Corporate Governance

Image for hmrc clarifies subcontracted activities sme rd tax relief

Tax | HMRC clarifies subcontracted activities for SME R&D tax relief

The definition of subcontracted activities is critical to R&D tax claims by SMEs and the latest HMRC clarification sheds some new light, explains Richard Edwards, CEO of R&D Community

19 Mar 2025

Business | Crowe launches probate advisory service

In a push to target estates and executors, Crowe has set up a probate advisory service, strengthening the firm’s tax advisory service for private clients

19 Mar 2025

Finance | FRC tries to placate SME auditors with basic guidance

As part of a campaign to help smaller companies access audit services, the regulator has published the first in a series of SME audit guides

19 Mar 2025

Corporate Governance

Image for accountants models and sports agents owe ps101m tax and penalties

Tax | Accountants, models and sports agents owe £101m in tax and penalties

An accountancy practice is in this month’s top 10 of deliberate tax defaulters owing £2.4m in unpaid tax and penalties, joined by son of Pakistan’s former prime minister

19 Mar 2025

Tax | Would a wealth tax really raise £460m a week?

With the UK tax burden at record highs, Chris Etherington, partner at RSM, is sceptical calls for a wealth tax stack up, not mention the sceptre of great sums on buses

19 Mar 2025

Tax

Personal Tax

Image for essex director jailed ps250k pandemic fraud

Business | Essex director jailed for £250k pandemic fraud

An Essex director abused the covid loan system in a bid to steal over £250,000 and spent the money on luxury watches, cars and home improvements

19 Mar 2025

Called to Account

Image for ey cuts 30 partners consulting division

Business | EY cuts 30 partners in consulting division

A decline in consulting work has forced EY to take action to reduce the number of partners working across the service line

18 Mar 2025

Leadership & Management

Image for footballer loses ps300k ir35 case second try

Tax | Footballer loses £300k IR35 case at second try

Former footballer and Sky Sports pundit Phil Thompson has lost his appeal at the Upper Tribunal over long-running IR35 tax case

18 Mar 2025

Tax

Case Reports

Image for civil servant credit cards slashed after ps600m spend

Finance | Civil servant credit cards slashed after £600m spend

The government plans to halve the total of 20,000 credit cards given to civil servants to clamp down on ‘wasteful spending’ and told senior staff to take disciplinary action

18 Mar 2025

Public Sector

Tax | Q&A: tax and travel expenses

In this week’s Q&A, Croner-i VIP Tax Team adviser Natasha Saina unravels the complexities of when to claim travel expenses for tax purposes when travelling between workplaces

18 Mar 2025

Finance | Scammers target charities with fake trustee letters

The Charity Commission has warned charities to watch out for fraudulent letters demanding the removal of trustees, as well as copies of ID and passport details

18 Mar 2025

Charities

Image for macintyre hudson faces frc probe over isg audit

Finance | MacIntyre Hudson faces FRC probe over ISG audit

The Financial Reporting Council is investigating the work of auditor MacIntyre Hudson LLP for the audit of collapsed construction and engineering company ISG

18 Mar 2025