Companies

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Business | Top tips on career progression for FDs and CFOs

There may not be a one-size-fits-all career path for financial professionals, but there are common elements which individuals can apply to their own journey. To climb the ladder, it pays to diversify your offering, says Phil Scott, director of FD Recruit

17 Jun 2016

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Tax | BHS pension deficit ‘resolvable and sortable’, claims Green

Sir Philip Green, the former owner of BHS, ended a marathon six-hour appearance in front of the joint BIS and DWP select committee with a commitment to ‘sort’ the deficit in the store chain’s pension fund, but defended his decision to sell the chain to a former bankrupt on the grounds that the purchaser, Dominic Chappell, was being advised by reputable firms, including Grant Thornton

16 Jun 2016

Finance | HMRC revises FRS 102 guidance on director’s loans

HMRC has revised the guidance on director’s loans due to the UK GAAP change to accounting rules affecting reporting as taxing debt will now be largely driven by FRS 102 requirements for financial instruments

16 Jun 2016

Business | ‘Poor communications’ blamed for soaring BHS pension scheme deficit

The joint DWP and BIS select committee cross examining Sir Philip Green about the fate of the BHS pension scheme following the collapse of the high street chain has heard the retailer say ‘someone was asleep at the wheel’ while a deficit of some £700m was built up

15 Jun 2016

Pensions

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Tax | Philip Green ‘too emotionally involved’ in BHS

Former BHS-owner Sir Philip Green has started his long anticipated appearance in front of MPs keen to quiz him on the collapse of the high street retailer and the fate of its pension scheme, and has sought to allay accusations of tax avoidance by saying he has never moved assets offshore

15 Jun 2016

Tax | Slip up on tax, but where’s the safety net?

It’s not only businesses and the better off that need tax advice. Some people on low incomes desperately need tax help and without it they and their families can suffer significantly, warns Stephen Banyard, TaxAid trustee

15 Jun 2016

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Business | Treasury set to replace Whiting as OTS head

The Treasury is looking for a replacement for John Whiting as permanent tax director to lead the Office of Tax Simplification (OTS), following the announcement that Whiting will be stepping down from the role and retiring in November

14 Jun 2016

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Business | Call for UK to improve employment rates for over-55s

Improving the employment rate of workers over 55 could boost UK GDP by £105bn according to analysis by PwC, which suggests the UK is failing to close the gap in its performance at having older people in work compared with other EU countries

14 Jun 2016

| KPMG gives Fifa audit the boot

KPMG Switzerland has resigned as auditor of Fifa, the world football governing body which has become mired in a corruption scandal following claims that millions of pounds have been paid to its top executives as part of corrupt deals stretching back decades

14 Jun 2016

Auditing

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Tax | HMRC plans to send taxpayers 'thank you' letters

HMRC is trialling the idea of sending ‘thank you’ letters to taxpayers as part of moves to improve relationships, according to evidence given to the Public Accounts Committee (PAC) which was examining National Audit Office (NAO) reports on poor customer service levels in 2014/15

14 Jun 2016

Image for call tax relief private medical care cut sickness rates

Tax | Call for tax relief on private medical care to cut sickness rates

EEF, the industry body for engineering and manufacturing employers, is calling for tax breaks for companies who pay for private medical treatment for staff, saying this would increase productivity by cutting the number of days off sick, as well as easing the burden on the NHS

14 Jun 2016

Business | Company secretaries call for rethink on excessive pay packages

A poll carried out by the Institute of Chartered Secretaries and Administrators (ICSA) has found that 60% of company secretaries feel that executive remuneration needs a rethink and only a third feel that the current long-term incentive plan (LTIP) model is fit for purpose

13 Jun 2016

Image for ukti and pa consulting under fire over ps19m contract procurement process

Business | UKTI and PA Consulting under fire over £19m contract procurement process

The UK Trade and Investment (UKTI) and PA Consulting have both been heavily criticised by the National Audit Office (NAO) over the handling of a £19m outsourcing contract, after auditors from RSM identified issues with the way in which £4m of overheads were calculated and charged

13 Jun 2016

Image for auto enrolment pensions lack protection employees

Business | Auto enrolment pensions: lack of protection for employees

Plans to establish an effective regulatory framework to govern workplace pensions are only in the early stages but on initial inspection fail to offer adequate protection for employees, warns Brendan Shanks, CEO of Husky Finance

13 Jun 2016

Business | Bacs extends software upgrade deadline by three months

A failure by small businesses to conform to new security protocols has forced Bacs Payment Schemes (Bacs) to extend the deadline for companies to upgrade to new payment security measures by three months

10 Jun 2016