Audit / PwC fails to ward off multimillion negligence claim

PwC has failed in a High Court bid to ward off a pending multimillion euro negligence claim against the Big Four firm

Tax / HMRC urges taxpayers affected by flood to get in touch

Business owners affected by flooding should contact HMRC’s Business Payment Support Service (BPPS) for help with tax problems, while BEIS is offering help through business recovery grants

Audit / Steinhoff swaps auditors to Mazars after accounting problems

South African retail giant Steinhoff international, which owns Poundland in the UK, has hired Mazars Netherlands as auditor, replacing Deloitte

Tax / MEPs plan clampdown on online platforms to close €5bn VAT gap

European lawmakers are set to tighten rules for large online platforms such as Amazon and eBay to recover billions in lost VAT from sales through their sites

Tax / Rangers EBT tax bill was inflated by HMRC

Two years after the Supreme Court decision on the employee benefit trusts (EBT) dispute over unpaid tax by the old Rangers Football Club (Rangers oldco), HMRC has slashed the tax due by £26m from the original £90m bill

Insight / PwC ranks top accounting firm for worker satisfaction

Accountants and auditors are the happiest and most loyal workers in the UK, but where are the top firms placed?

Accounting / Deloitte’s ethnicity pay gap remains static

Big Four accounting firm Deloitte has reported a slight improvement in its ethnicity pay gap, as it declined from 43.9% in 2018 to 43.5% in 2019

Insight / People in the news: MHA Henderson Loggie, Duff & Phelps, Cowgills

In this week’s accountancy career moves, senior hires and partner promotions at MHA Henderson Loggie, Duff & Phelps and Crowe, FD appointed at Beard and tax team expands at Cowgills  

Technical Alerts

14 Nov 2019

Tax / Property rental tax compliance essentials

Emma Rawson, technical officer at the Association of Taxation Technicians (ATT) explores how the rent a room scheme and property income allowance affect rental income for residential landlords and property owners

Insight / Underwood: cry for help from accountants

Growing an accountancy practice in a highly competitive business environment requires a strategic vision and the desire to shake off the comfortable status quo. Keith Underwood, managing director of Foulger Underwood, gives some useful tips on how to future-proof your business

Tax / UK taxes highest since 1950s

Taxes are high by historical standards accounting for over a third of GDP at 34.4%, increasing almost 7% from the 1950s

Insight / Former charity trustees in contempt of court

The High Court has found two former trustees of a Bristol charity in contempt of court after failing to provide information to the charity regulator

Insight / One in three millennial business owners dissatisfied with accountants

Millennial business owners are not happy with the service provided by their existing accountants and bookkeepers, with more than 39% of owners actively looking to replace their existing adviser in the next year

Tax / KPMG signs deal with R&D specialist Axillium

Big Four firm KPMG has signed an agreement with a specialist research, innovation and investment agency Axillium to support clients access research and development (R&D) grants

Insight / BKL acquires Green & Purple accountants

Chartered accountants BKL has acquired Green & Purple, an accounting firm specialising in providing chief financial officer (CFO) led virtual finance office services

Insight / EY negotiates British Steel sale to China's Jingye

The Official Receiver and administrators at EY have secured a deal to sell British Steel to Chinese steel giant, Jingye Steel (UK) Ltd and Jingye Steel (UK) Holding Ltd, subject to regulatory approval

Technical Alerts

13 Nov 2019

Tax / Missing trader VAT fraud and input tax recovery

Croner-i tax writer Sarah Kay looks at cases of carousel fraud and what HMRC can do to clamp down on the issue of VAT evasion on goods, by either disallowing input tax recovery or enforcing the domestic reverse charge

Tax / Vodafone hit by 'excessive' taxes on Indian business

Vodafone is warning that it may review its India business if it is not able to resolve outstanding regulatory issues with the Indian authorities

Tax / Tax traps for Londoners renting over Christmas

Homeowners in central London could earn more than the cost of Christmas through renting in December, but there are tax risks for exceeding the rent a room scheme thresholds

Tax / Rising self employment erodes income tax take

The amount of income tax being paid is declining in every region of the UK as a growing proportion of the workforce becomes self employed

Tax / Are businesses ready for the tax implications of a change of government?

With a December election approaching, James Ross, tax partner at McDermott, examines the financial and tax components of the party platforms and the impact and costs for businesses and individuals investing in the UK

Insight / Gig workers lose out on pension savings

The growth in the gig economy and the lack of flexible schemes for younger pension savers is creating a pension black hole as more workers fall outside auto enrolment 

Technical Alerts

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