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Tax | Q&A: Christmas party tax exemption

In our regular Q&A series, Croner Taxwise, payroll adviser, Samantha O'Sullivan explains whether businesses are able to utilise the £150 exemption at another point in the year, with office Christmas parties looking doubtful with coronavirus restrictions

17 Nov 2020

Accountancy Firms

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Finance | FRC outlines expectations for 2020/21 reporting

The Financial Reporting Council (FRC) has published its annual letter setting out its reporting expectations for preparers of reports and accounts for the year ahead

16 Nov 2020

Accounting Standards

Financial Reporting

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Finance | Andreas Barckow named new IASB chair

The trustees of the IFRS Foundation, who are responsible for the governance and oversight of the International Accounting Standards Board (IASB), have appointed Professor Dr Andreas Barckow to serve as the new IASB chair

16 Nov 2020

Accounting Standards

Financial Reporting

Leadership & Management

Image for fca warns carillion over misleading reporting

Finance | FCA warns Carillion over misleading reporting

The Financial Conduct Authority (FCA) has warned Carillion and certain of its previous executive directors that it intends to take action over their conduct at the outsourcing company, which collapsed in January 2018

16 Nov 2020

Accounting Standards

Financial Reporting

Accountancy Firms

Restructuring & Insolvency

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Business | Five furlough changes you need to know

The latest official Coronavirus Job Retention Scheme guidance published by the government includes ‘increase in flexibility’ and ‘further restrictions’, explains BrightHR’s, CEO, Alan Price as he highlights differences from the original scheme

16 Nov 2020

Leadership & Management

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Finance | International reporting: financial institutions post Covid

In October’s international accounting update, Jeroen Van Doorsselaere considers the impact of Covid-19 on financial institutions and how environmental, social and governance criteria could provide an answer

16 Nov 2020

Accounting Standards

Financial Reporting

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Business | People in the news: Grant Thornton, Quantuma, Baines Jewitt

In this week’s accountancy career moves, partner promotions at Grant Thornton, tax technician appointed at Baines Jewitt, and director named at Quantuma

13 Nov 2020

Leadership & Management

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Business | Accountancy firms in top three for social mobility

PwC has been named the top UK employer for social mobility for the second year running, with Grant Thornton taking second place and KPMG ranked third

13 Nov 2020

Accountancy Firms

Leadership & Management

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Finance | FRC wants auditors to ‘redouble’ efforts to improve quality

The Financial Reporting Council (FRC) is urging auditors to redouble their efforts to remedy inconsistent audit quality, saying this has become even more important in the face of the unprecedented economic turbulence brought by Covid-19

13 Nov 2020

Corporate Governance

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Tax | Remote worker tax to help lower-paid employees

The government should consider introducing a 5% tax on those who continue working from home (WFH) after the pandemic ends, with the potential to raise an additional £6.9bn in revenue to be targeted at lower-paid workers, according to analysis from Deutsche Bank (DB)

12 Nov 2020

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Finance | £66m shortfall as Croydon Council fails to balance budget

Croydon Council has become the first London borough in twenty years to issue a section 114 notice banning all new non-essential spending as the authority admitted it can no longer balance its budget this year

12 Nov 2020

Corporate Governance

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Finance | Accounting for Brexit part 3: impact for auditors

In the third article of a series on the impact of Brexit on audit and accounting, Croner-i writer David Duvall FCA sets out the key changes for auditors from January 2021

12 Nov 2020

Accounting Standards

Financial Reporting

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Finance | FRC endorses push to global sustainability standards

The Financial Reporting Council (FRC) is calling for improvements in corporate reporting on climate change issues, and has signalled its support along with other UK regulators for the IFRS Foundation’s work on developing a global approach to sustainability reporting

12 Nov 2020

Accounting Standards

Financial Reporting

Accountancy Firms

Image for plans tackle back door hostile foreign takeovers

Business | Plans to tackle ‘back door’ hostile foreign takeovers

The government is planning a major shake-up of the UK’s takeover laws, the first overhaul for almost 20 years, with wider powers to investigate and intervene in potentially hostile foreign direct investment that threatens national security

11 Nov 2020

Accountancy Firms

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Tax | ICAS proposes three-month waiver for late filing penalties

ICAS has written to HMRC seeking a three-month waiver of the penalties for failure to meet tax filing deadlines, highlighting the impact of Covid-19 disruption on firms and their clients

11 Nov 2020

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Business | Regulator calls for pledge to tackle pension scams

The pensions regulator is calling on the pensions industry to publicly pledge to combat pension scams as part of a major new campaign

11 Nov 2020

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