Business & Accountancy Daily

May 2025
Highlights from May 2025 include inheritance tax for lifetime gifts, LLP SORP accounting rules to be updated, KPMG quits £1.3m P&O Ferries audit, millionaire couple wins £3.3m tax dispute, should business owners sell their company before April 2026, partner mandatory retirement ages in accountancy firms, plus CPD module on Making Tax Digital for Income Tax
Articles
Business
- AI and ethics issues for accountants
- Barrister ridiculed for using AI to make up cases at High Court
- Cooper Parry acquires Netsuite IT consultancy
- EQ merges with McDonald Gordon & Co in Edinburgh
- FRP acquires One Advisory Group
- From apprentice to accountant: a personal journey
- How to navigate a private equity transition
- Insider fraud: finance leaders need to get their act together
- Justifying partner mandatory retirement ages in accountancy firms
- Transferring assets before insolvency challenged by creditors
Finance
- Barclays sticks with KPMG for £91m audit
- Hays reappoints PwC for £2.4m audit
- IFRS updates going concern educational material
- KPMG quits £1.3m P&O Ferries audit over late filing issues
- LLP SORP accounting rules to be updated
- Major change to digital filing for accounts planned
- More powers to strike off companies from register
- Regulator slaps ACCA accountant and Thurrock CFO with five-year ban
- Wood Group £8m audit still not finished
HR
Tax
- Beneficiary of £850k estate loses IHT battle
- CPD module: MTD For Income Tax
- Care providers warned not to use VAT avoidance scheme
- Chancellor backs off plan to slash £20k ISA limit
- Changes to IR35 CEST tool ‘cosmetic’
- Farmers cannot ‘rethink businesses on a whim’
- HMRC cuts late payment interest rate to 8.25%
- HMRC stops posting letters for CT reminders and receipts
- HMRC systems are a ‘lumbering dinosaur’
- Inheritance tax and lifetime gifts
- Inheritance tax: what happens to trusts after farm tax overhaul
- Marathon promoter wins ‘excessive’ £330k R&D dispute
- Millionaire couple wins £3.3m tax case after selling £27m mansion
- Only 1,000 accountants signed up for MTD trial
- Q&A: car or van for tax purposes
- Q&A: land sale and CGT liability
- Should business owners sell their company before April 2026?
- Tax filing deadlines: May to Nov 2025
- Taxpayer who owed no tax wins £1.7k penalty appeal
- Tribunal strikes out £7.4m Kittel VAT fraud appeal
- VAT road fuel charges reduced for company cars
- ‘No evidence at all’ brought by HMRC to £12k VAT appeal
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