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Image for pra warns brexit regulation extra burden

Business | PRA warns of Brexit regulation ‘extra burden’

Sam Woods, CEO of the Prudential Regulation Authority (PRA), has reiterated calls for UK financial services companies to have a transitional implementation period post-Brexit to adjust to the new relationship with the EU, and has indicated that work preparing for the changes ahead is putting a ‘a material extra burden’ on the regulator

9 Aug 2017

Accountancy Firms

Image for supreme court hear pimlico plumbers self employment case

Tax | Supreme Court to hear Pimlico Plumbers self employment case

Pimlico Plumbers has been granted permission to appeal to the Supreme Court over the decision of the Court of Appeal, which ruled that one of the company’s former self-employed plumbers was entitled to employment rights

9 Aug 2017

Image for ten year exclusion ex fd tech data ltd

Business | Ten-year exclusion for ex-FD of Tech Data Ltd

ACCA member Philip James has been excluded for 10 years and given a £100,000 fine after admitting misconduct in his role as finance director of Tech Data Ltd, following an investigation by the Financial Reporting Council (FRC)

9 Aug 2017

Accountancy Firms

Called to Account

Image for government consults cyber security measures

Business | Government consults on cyber security measures

The government is consulting on plans to implement the EU’s security of network and information systems (NIS) directive, which could see businesses facing fines of up £17m or 4% of global turnover for the failure to have effective cyber security measures in place to safeguard against IT hacking attacks and breaches

8 Aug 2017

Accountancy Firms

AI & Technology

Image for data protection laws mean stiffer fines business breaches

Business | Data protection laws mean stiffer fines for business breaches

The government has signalled its intention to update and strengthen data protection laws through a data protection bill, ushering in large fines for businesses which fail to meet the new requirements

8 Aug 2017

Accountancy Firms

AI & Technology

Image for plastics companies melt administration

Business | Plastics companies melt into administration

Chris Pole and Mark Orton, partners at KPMG have been appointed joint administrators to Gelpack Industrial Ltd and Gelpack Excelsior Ltd, leading manufacturers of plastic packaging for the industrial sector, which have collapsed putting some 200 jobs at risk

8 Aug 2017

Accountancy Firms

Restructuring & Insolvency

Image for brexit worries hit ftse 350 confidence economy

Business | Brexit worries hit FTSE 350 confidence in economy

Confidence in the UK economy has hit a five-year low amid growing concerns over political risk and Brexit, according to a survey of FTSE 350 companies by ICSA: The Governance Institute, which also found that attempts to improve boardroom diversity are stalling

8 Aug 2017

Accountancy Firms

Image for acquisition forced early tender micro focus

| Acquisition forced early tender for Micro Focus

FTSE 100 company Micro Focus had to bring forward its audit tender process after an acquisition of a software business meant there was a potential conflict

7 Aug 2017

Image for administrators find light end tunnel failed company

Business | Administrators find light at end of tunnel for failed company

Damian Webb and Phillip Sykes, partners at RSM restructuring advisory have been appointed joint administrators of Cambridgeshire-based lighting firm Isotera Ltd, and have sold the business to agricultural technology specialist Greengage Lighting Ltd

7 Aug 2017

Restructuring & Insolvency

Image for working capital failure ties ups ps136bn

Business | Working capital failure ties ups £136bn

Companies are struggling to improve their working capital performance, and nearly half have experienced a deterioration over the past year, according to research from Grant Thornton which suggests that up to £136bn in cash is tied up on the balance sheets of companies, which could be unlocked for further growth

7 Aug 2017

Accountancy Firms

Image for finance mole all ready tough mudder

Business | Finance Mole: all ready for Tough Mudder

A new head of legal causes unrest, and plans for an extreme endurance day raise the tension for Finance Mole, plus Making Tax Delayed, Philip Hammond has a tough ride as Chancellor and outgoing BT chairman Sir Mike Rake reassures angry shareholders

4 Aug 2017

Image for uk accounting and legal sector generates ps155bn tax receipts

Tax | UK accounting and legal sector generates £15.5bn of tax receipts

Accountancy firms and legal practices generated an estimated £15.5bn in tax in 2015/16, according to research by PwC for TheCityUK, the representative body for the UK-based financial and related professional services industry

3 Aug 2017

Accountancy Firms

Image for 17 drop ftse 100 ceo pay rates

Business | 17% drop in FTSE 100 CEO pay rates

Pay rates for top level CEOs in the UK have fallen by 17%, but it would still take the average employee 160 years to earn the equivalent annual remuneration, according to figures from the High Pay Centre

3 Aug 2017

Accountancy Firms

Leadership & Management

Image for dublin running host european banking authority post brexit

Business | Dublin in running to host European Banking Authority post-Brexit

Eight European cities, including Dublin, are vying to host the European Banking Authority (EBA) which will leave London once the UK completes Brexit, the European Council has revealed

2 Aug 2017

Accountancy Firms

Image for trio directors debt management company disqualified

Business | Trio of directors at debt management company disqualified

A third director of Manchester-based debt management company Debt Connect (UK) Ltd has been disqualified as a result of an Insolvency Service investigation following the company’s collapse into liquidation owing some £150,000 to creditors

2 Aug 2017

Restructuring & Insolvency

Called to Account

Image for pwc expands research services uk acquisition

Business | PwC expands research services with UK acquisition

PwC has acquired UK business Optimisa Research, which will merge with the firm’s existing global research to insight consulting business, in a move designed to expand its qualitative and consumer-led research capabilities

2 Aug 2017

Accountancy Firms

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