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Business & Accountancy Daily
May 2026
Highlights from May 2026 including wills, estates and taxes, interview with HMRC chief on MTD ‘We are not expecting perfection’, salary sacrifice cap and the middle income trap, private equity investment in accountancy firms ‘may be reaching a plateau’, plus all your essential monthly tax, audit and accounting news and analysis
Articles
Business
- Agentic AI is not just ‘plug and play’ for accountants
- Grant Thornton partner pay hits £686k after PE deal
- HMRC’s hard turn on tax enforcement
- HaysMac acquires corporate finance advisors Green Square
- KPMG rolls out Anthropic Claude Cowork to tax teams
- Only 12% of accountancy firms led by women
- Private equity investment ‘may be reaching a plateau’
- Scrutton Bland acquires Oxlade & Bond
Finance
- BDO fined £1.4m for ‘numerous and pervasive’ audit failings
- Crowe auditors had no duty to report fraud to individual shareholders
- FRC audit investigations set to be ‘much more robust’
- Five Carillion accountants fined £380k for ‘acting recklessly’
- How should audit committees factor in AI?
- IFRS 20 to improve financial reporting for utilities and transport
- Legal & General hires Deloitte for £21m audit
- Legal updates: treating accounting liabilities as assets in business sale
- Minor amendments to FRS 101 to improve clarity
- NMC Health audit negligence claim cost EY £105m
- Pension annuities: what savers need to consider
- Pros and cons of consolidating multiple pension pots
Tax
- Football referees not employees in £584k tax dispute
- HMRC spends £1.05bn in major IT overhaul this year
- HMRC to extend UTT disclosure rules to wealthy individuals
- HMRC will not appeal £470k giant marshmallow case
- KFC scores a win in £106k dipping pot VAT case
- Q&A: VAT and personal use of work double cab pickup
- Q&A: postponed VAT accounting
- Q&A: reclaiming VAT on imports
- Q&A: revoking an option to tax on property
- Salary sacrifice cap and the middle income trap
- Should your business be registered for VAT?
- Tax code is too complicated and needs urgent reform
- Tax filing deadlines: May – Sep 2026
- Tax filing deadlines: May – Sep 2026
- Treasury consults on £2m council tax surcharge
- Wills, estates and taxes: what you need to know
- ‘We are not expecting perfection’, HMRC issues update on MTD cohort
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