Business & Accountancy Daily

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Image for weak financial controls caused wh smith ps30m accounting error

Finance | Weak financial controls caused WH Smith £30m accounting error

Fallout from £30m misstatement of supplier income triggers resignation of group CEO of WH Smith after Deloitte review discovers poor financial controls and failure to follow accounting standards on revenue recognition and inventory provisioning

19 Nov 2025

Business | Threat of exit tax rattles business owners

Chris Etherington, tax partner at RSM, warns endless Budget leaks create confusion and uncertainty for business owners, while threat of an exit tax is unnecessarily disruptive

19 Nov 2025

Business

Companies

Accountancy Firms

Business | Why accountancy firms are ramping up apprenticeship places

Rising tuition fees and student debt mean the graduate path is no longer the gateway to accountancy, with most firms actively recruiting apprentices. Laura Leslie, corporate partner at DSG Chartered Accountants argues apprenticeships are central to nurturing the next generation of talent

19 Nov 2025

Finance | FRC calls for improvement in quality of cash flow reporting

Smaller listed companies are still failing to meet the standard for reporting on revenue recognition, impairment and cash flow statements, raising the risk of an enquiry, warns Financial Reporting Council (FRC)

19 Nov 2025

Business | Inflation rate down but food prices up 4.9%

Latest inflation figure shows a slight drop to 3.6% after relatively low increases in the gas and electricity price cap, but cost of food continues to soar

19 Nov 2025

Business

Companies

Accountancy Firms

Image for hmrc showed cavalier approach child benefit checks

Tax | HMRC showed ‘cavalier’ approach to child benefit checks

MPs on the influential Treasury Committee criticise HMRC crackdown on potential abuse of child benefit system, leaving parents without crucial payments and giving little time to respond to checks

19 Nov 2025

Business | Council leader jailed for ‘ludicrous’ £188k fraud

Former Conservative councillor and chief operating officer jailed for romance fraud taking £188,000 from ex-partner and stealing thousands from own Christian radio station

19 Nov 2025

Business

Called to Account

18 Nov 2025

Image for bar owner refused ps31k late tax appeal over lost post

Tax | Bar owner refused £31k late tax appeal over lost post

HMRC has won a case at tribunal over attempts to make a late appeal after Belfast bar owner argued all the relevant letters and penalty demands had never arrived in the post

18 Nov 2025

Tax

Business Tax

HMRC

Image for if youre leaving ps1m you probably have cash pay tax claims minister

Tax | ‘If you’re leaving £1m you probably have the cash to pay the tax,’ claims minister

Lords warn Treasury minister plans for executors to pay inheritance tax on pension pots ‘unworkable’ and ignore ‘real world impact’

18 Nov 2025

Business | Clampdown on exam cheating by accountants

Matthew Corrie, barrister at 5 St Andrew’s Hill Chambers, examines the rise of misconduct in accountancy exams and assessments, use of GenAI to cheat, and the risk of facing a disciplinary tribunal

18 Nov 2025

Business | 1.5m directors complete ID verification

As ID verification becomes law, so far one in four directors have verified their identity out of the more than six million on the register

18 Nov 2025

Tax | Register for our post-Budget webinar

18 Nov 2025

Tax | Private mileage rates frozen at 45p per mile for years

Employees who use their own car to travel for work business ‘stranded on the roadside’ by absurdly low mileage rates, which have lost touch with inflation, warns Association of Taxation Technicians (ATT)

18 Nov 2025

Finance | LLP accounting rules revised for partner pay changes

Accounting rules for limited liability partnerships (LLPs) updated to reflect changes to presentation of members’ remuneration and disclosures for smalls in 2026 SORP

18 Nov 2025

Finance

Financial Reporting

Accounting Standards

Image for macalvins acquires cox costello horne

Business | Macalvins acquires Cox Costello & Horne

Independently owned Macalvins Group expands in home counties with acquisition of Cox Costello & Horne, a Rickmansworth-based accountancy and advisory firm

18 Nov 2025

Business

Accountancy Firms

Private Equity

Image for bank savings protection limit increased ps120k

Finance | Bank savings protection limit increased to £120k

Limit on protected bank savings rises by a third to £120,000, the first change for nearly a decade to the Financial Services Compensation Scheme

18 Nov 2025

Finance

Corporate Governance

Tax | Q&A: how to secure film tax relief

In this week’s Q&A, David Lawson, tax adviser at Croneri VIP Tax Team, explains the process for claiming film tax credits for upcoming productions filmed in both UK and overseas locations

18 Nov 2025

17 Nov 2025

Image for accountants face ps671m tax bill if partnership ni goes ahead

Business | Accountants face £671m tax bill if partnership NI goes ahead

Partners in accountancy firms face a £671m increase in tax liability if the government charges employers National Insurance contributions on partnerships, threatening the inherent structure of the profession

17 Nov 2025

Business | Twitter hacker told to pay back £4.1m bitcoin

A Twitter hacker who hijacked accounts of celebrities including Barack Obama and Jeff Bezos forced to repay over £4m

17 Nov 2025

Business

Called to Account

Image for one five firms breach anti money laundering rules

Finance | One in five firms breach anti money laundering rules

Ian Ko and Zoe Beels at Kingsley Napley LLP assess why 20% of accountancy firms fail to comply with anti money laundering rules in annual ICAEW anti money laundering report, highlighting key pitfalls, with tips on how to improve compliance, particularly around KYC and customer due diligence

17 Nov 2025