Setting up a lasting power of attorney is a shrewd move for farmers as they prepare to pass their business to the next generation, giving them flexibility and protection from a punitive tax bill, says Julie Butler of Butler & Co
The government has launched a consultation on the current regulatory framework for insolvency practitioners, which includes considering whether to establish a single regulator for the sector
The government has launched an Economic Crime Plan, a joint initiative with law enforcement, business and professional services firms, to share data and pool resources, in a bid to crack down on fraud, money laundering, bribery and corruption
In this week’s Q&A, Vivienne Scott, senior VAT consultant at Croner Taxwise, explains how travel agents must use the Tour Operators’ Margin Scheme (TOMS) to account for VAT
In the first of a series on company car tax, Julie Clift CTA, tax writer at Croner-i, explains the calculations when assessing company cars as a taxable benefit and defining reason of employment
HMRC has promised not to throw the book at firms who struggle to register for Making Tax Digital (MTD) as new figures show total take-up lagging in certain sectors
The VAT incentive for installing energy efficiency measures in residential accommodation is to be amended to bring the UK into line with EU rules, HMRC has confirmed
The Financial Reporting Council (FRC) is to introduce more stringent ethical rules for auditors in response to findings from recent audit enforcement cases and audit inspections
Sports Direct has delayed the publication of its annual results, citing the ‘complexities’ relating to its purchase of House of Fraser last August and a request from auditor Grant Thornton for more time
The Chartered Institute of Internal Auditors (IIA) has begun a consultation on an internal audit code of practice in the wake of high-profile corporate failures
The Financial Reporting Council (FRC) has issued an amendment to FRS 101 reduced disclosure framework as part of its annual review, to address a conflict with the new insurance contracts standard
Smith & Williamson, the financial and professional services firm, has reported 4.3% growth as operating income hits £278m and confirmed it is still planning to list in 2020
The government plans to remove company car tax for newly registered zero emission models for one year from 2020 to offset the impact of the Worldwide harmonised Light vehicles Test Procedure (WLTP)
Advances in fintech could transform the accounting profession if firms leverage the technology to help growth their practices and offer extended services to their smaller clients, explains Sam O’Connor ACA, co-founder & CEO of smart banking app Coconut
France is to introduce a 3% digital services tax, the first European country to do so, and now faces the risk of retaliation from the US, which argues that the levy unfairly targets multinational tech giants
Renold, an industrial equipment supplier, has postponed its AGM scheduled for 17 July after the company discovered a £1.8m accounting black hole in its gears business unit
Mazars plans to expand its presence in the US and Canada with the creation of the Mazars North America Alliance in a tie-up with five major accounting firms to challenge the Big Four in the region
Grant Thornton has teamed up with CIPFA to develop a financial foresight model to help local authorities understand and test their long-term financial sustainability
FTSE 100 companies are being criticised for a failing to tackle the lack of diversity on their boards despite new figures showing they are on track to hit a 33% target for female board representation by 2020
In this week’s accountancy career moves, partner hires at RSM, CVR Global and Carey Olsen, promotions at Wylie & Bisset, onshore MD for trust specialist Zedra, and Revenue Scotland ramps up board members
