The Pensions Research Accountant Group (PRAG) has published guidance on accounting for guaranteed minimum pensions (GMPs) equalisation in pension scheme accounts. Kevin Clark, chair of the PRAG SORP Working Party, examines the key issues for trustees
Comments made by Court of Appeal judges in a recent case relating to 'discovery' assessments have potentially made it harder to obtain certainty that HMRC cannot go back and challenge a tax return, by raising issues around what constitutes a ‘deliberate’ error by the taxpayer, according to Pinsent Masons
The UK has overtaken Japan as the most expensive location to send expatriates, despite salaries remaining static, because of increases in tax and essential costs, including housing
Accountants should be doing more to encourage the very smallest companies to opt for simplified accounting such as FRS 105, according to a report on the EU’s introduction of a micro-entities accounting regime
Blair Nimmo, partner, and Alistair McAlinden, director, of KPMG have been appointed joint administrators of Scottish IT company Hutchinson Networks Ltd, which has collapsed following cashflow difficulties, with the loss of 100 jobs
EY is teaming up with Thomson Reuters to develop leading-edge, digitally enabled tax services targeted at mulitnationals operating across tax jurisdictions
Stephen Relf ACA CTA examines the pros and cons of setting up a limited company versus operating as a sole trader, and assesses the critical tax compliance issues when planning a disincorporation
ACCA’s pre-tax deficit more than doubled to £35.2m last year according to a preview of its financial results for the 2018-19 financial year, largely because of a one-off accounting adjustment relating to ACCA’s defined benefit pension scheme amounting to £12.5m
EY has been called in to handle the administration of British Steel after last-minute attempts to arrange a rescue deal failed and the government announced the company has gone into compulsory liquidation
Impending accounting standards changes to IFRIC 14 and the limit on defined benefit asset rules could hit FTSE 100 pension schemes by up to £100bn, double previous predictions, warns LCP
Celebrity chef Jamie Oliver’s restaurant group has gone into administration after failing to secure additional financial backing with administrators KPMG closing all but threee restaurants immediately
Following a federal court ruling, Mazars US has been given seven days to provide President Donald Trump’s accounting records to a Congressional committee which is investigating his business dealings
The director of a Chatham-based travel agency has been banned for seven years after a lack of accounts meant it was not possible to explain thousands of pounds worth of company payments
The new Solicitors Regulation Authority (SRA) Accounts Rules come into effect this November and the key changes are set to simplify the accounting treatment with less prescriptive requirements but there are significant changes to handling of client monies, explains Ross Prince, partner at Crowe
UK property will not be a safe haven for money laundering in the near future if the government presses ahead with plans to create a register of ownership by offshore investors, but perhaps a more robust government position on taxing empty property would encourage the buy-to-leave investors to rethink their plans, argues Sara White, editor of Accountancy Daily
Goldman Sachs has broken with tradition and appointed Mazars to audit its European arm, the first time the US bank has chosen an auditor outside the Big Four, in a major coup for the mid-tier firm
A pub landlord who operated several pubs and bars across Nottingham and Derby has been banned for 11 years, after causing his company to submit inaccurate documents to tax authorities, with some £7m of tax owing
Regulatory bodies, including HMRC, ICAEW and ACCA, have identified 42 businesses as having potential compliance failings in customer checks, record keeping and identifying risk
Reports of cryptoassets and forex investment scams more than tripled last year, with victims losing over £27m in total in 2018/19, warns the Financial Conduct Authority (FCA) and Action Fraud
In our regular Q&A series, Croner Taxwise experts explain how to deal with pension opt outs in terms of relief at source and net pay pension schemes when auto enrolment and opt out spans a tax year
