Companies

Image for begbies traynor puts new buyer menu failed restaurant chain

Business | Begbies Traynor puts new buyer on menu for failed restaurant chain

Gareth Prince, Joanne Hammond and Gareth Rusling of Begbies Traynor, who were appointed joint administrators of Midlands bar and restaurant chain Town and Country Inns, have saved nearly 100 jobs via a successful sale of the business

11 Nov 2016

Restructuring & Insolvency

Image for pac look defence equipment spending

Tax | PAC to look at defence equipment spending

HMRC’s outsourcing deal with Concentrix and the financial stability of both the NHS and schools are due to come under scrutiny at the public accounts committee (PAC) at the beginning of next year, while there will also be sessions on the defence estate and defence equipment plan, after the National Audit Office (NAO) issued qualified accounts on spending in these areas

11 Nov 2016

Business | Call for regulatory action on SME late payments

Government efforts to tackle the UK’s late payments culture have failed to achieve the expected changes in practice, with more than a third of SME still reporting major payment delay problems, according to research by Close Brothers which says regulatory action is needed

11 Nov 2016

Image for hmrc denies mtd means quarterly filing

Tax | HMRC denies MTD means quarterly filing

HMRC has gone on the offensive to counter claims that its move to making tax digital (MTD) will increase the accounting costs and burden for large numbers of businesses, in the wake of sustained criticism from professional bodies and others about the proposals

11 Nov 2016

Business | Q&A: time off for jury service

When an employee is called up for jury service, what are the implications for the employer and what are the cost implcations for both the juror and the business. Croner-i experts consider the question: can I avoid losing the employee for this period and what are your legal obligations?

11 Nov 2016

Leadership & Management

Careers

Image for frc fines deloitte ps4m over audit failings aero inventory

Finance | FRC fines Deloitte £4m over audit failings at Aero Inventory

Deloitte has been fined £4m by the Financial Reporting Council (FRC), the highest ever imposed by the regulator, at the conclusion of a long-running investigation into the firm’s failures in relation to the audit of the AIM listed company Aero Inventory and its subsidiary Aero Inventory (UK) Ltd for the financial years ended 30 June 2006, 2007 and 2008

10 Nov 2016

Tax | Calls to increase MTD threshold to £83,000

The Association of Accounting Technicians (AAT) is calling on HMRC to opt for a phased introduction of Making Tax Digital (MTD) requirements, and make the threshold for mandatory participation much higher than planned, arguing that the current approach risks being too costly and burdensome for SMEs

10 Nov 2016

Business | 60 years to close gender pay gap

Thursday 10th November 2016 marks Equal Pay Day (EPD), the date from which women are effectively working for free to the end of the calendar year, according to calculations from the Fawcett Society which suggest it will take 60 years to reduce the ongoing gap between male and female pay rates

10 Nov 2016

Business | 70% of SMEs set to tackle MTD reforms single handed

Over two thirds (69%) of SME owners will take a ‘do it yourself’ approach to Making Tax Digital (MTD) reforms to save on additional costs, but ironically 32% of these owners have had to pay an external expert to correct an error they have created, according to research from Geniac

10 Nov 2016

Finance | FRS 102: acquisition accounting obligations

Time is running out for businesses to complete their acquisition accounting obligations under new UK GAAP rules, warns John Rugman, head of valuations at Smith & Williamson

10 Nov 2016

Business | KPMG appointed administrators of fashion retailer

Jim Tucker and Richard Beard of KPMG have been appointed as joint administrators of fashion retailer, American Apparel, as the UK business is set to close its 13 stores

9 Nov 2016

Restructuring & Insolvency

Image for rbs pay ps400m compensation smes poor treatment

Business | RBS to pay £400m compensation to SMEs for poor treatment

RBS has announced it is to introduce a complaints review process and the automatic refund of complex fees, at a cost of some £400m, in acknowledgment of the poor treatment experienced by small businesses customers of the bank’s former global restructuring group (GRG) in the wake of the financial crisis

9 Nov 2016

Image for call one third ftse 100 executive pipeline be female

Business | Call for one third of FTSE 100 executive pipeline to be female

The independent Hampton-Alexander review, set up to accelerate the push to ensure more women reach the top in business, has announced a voluntary target of 33% representation of women for the FTSE 100 executive pipeline by 2020

9 Nov 2016