Business

Insight / Coronavirus: essential updates for accountants

To assist accountants, tax advisers and auditors in dealing with the coronavirus crisis, all our related covid-19 coverage will be available here as soon as new announcements are made, plus expert analysis

Tax / Covid-19: partnerships offered income support

HMRC has published guidance on the self-employment income support scheme to combat losses as a result of coronavirus, which confirms that partnerships are eligible to apply, reports Pat Sweet

Tax / Q&A: Self-employment Income Support Scheme

On Thursday 26 March the Chancellor announced the Coronavirus Self-employment Income Support Scheme to provide financial support for the self-employed and members of partnerships in the form of a taxable cash grant in the fight against covid-19. Here we assess the key measures and eligibility criteria

Insight / Covid-19: contractors ‘fall through cracks’ in support

Contractors and others who work through personal service companies (PSCs) fear they risk being left without government support for lost earnings as a result of coronavirus, because they do not meet the requirements of current support schemes

Insight / Covid-19: accounting and tax institutes cancel exams

Students in the accountancy sector may have longer to revise as exams are pushed back due to the covid-19 crisis, although some exams may go online, reports Zak Jakubowski

Accounting / SEC zooms in on mistaken identity over video app

The US Securities and Exchange Commission (SEC) has stepped in to address a case of mistaken identity which has seen investors put money into a little known Chinese tech firm, Zoom Technologies, in the mistaken belief that it is behind the Zoom, the video conferencing app which is going through the roof as a result of coronavirus working from home rules

Insight / Betting group loses new finance chief before he starts

FTSE 250 betting and gaming group William Hill is hunting for a new finance chief after Adrian Marsh, group finance director of packaging group DS Smith, said he would now be staying at DS Smith’s rather than join William Hill due to covid-19 crisis

Tax / Covid-19: self employed package hints at future tax equity

Chancellor Rishi Sunak has unveiled a £9bn package of support for self employed taxpayers and members of partnerships, Self-Employed Income Support Scheme, affected by the coronavirus epidemic which he said was equivalent to the furlough scheme for those paid via PAYE, and has indicated that future tax policy may need to change to reflect this equivalence

Tax / Q&A: Coronavirus Job Retention Scheme and furlough

The financial job grants offered under the Coronavirus Job Retention Scheme pays up to 80% of salary for temporarily laid off workers, but there are important legal and contractual issues to consider. Croner-i's Nicola Mullineux explains

Insight / £3.5bn of dividends slashed off FTSE 100

A growing number of listed companies are taking an axe to their dividends for the latest financial year amid a dash to shore up balance sheets, reports Philip Smith

Tax / Covid-19: self employed will receive 80% package financial support

The Coronavirus Bill has received Royal Assent and is now in statute, setting out the bare details about the plans for a support package for the self employed, with detail to follow in tonight's televised briefing by the Chancellor

Tax / Covid-19: taxpayers urged to weigh up savings withdrawals

Taxpayers who are looking to reorganise their finances to respond to the impact of coronavirus on jobs are being warned to think carefully about the tax and welfare benefit consequences of drawing on savings

Accounting / Revised investment reporting standards delayed to September

The Financial Reporting Council (FRC) has issued revised Standards for Investment Reporting (SIRs) 1000 to 5000, and a new SIR 6000 dealing with reports on Quantified Financial Benefits Statements (QFBSs) published in accordance with the City Code

Tax / HMRC changes coronavirus business helpline number to increase capacity

HMRC has changed the dedicated phone number for the coronavirus helpline targeted at businesses and the self employed to 0800 024 1222 to increase load capacity, reports Sara White

Audit / Covid-19: FTSE audit tenders face delays, partner engagements extended

The length of time an audit partner can remain in position without rotating off the client company can be extended on a temporary basis due to the ongoing covid-19 crisis, the Financial Reporting Council (FRC) has confirmed, while it is calling for a halt on company audit tender processes, reports Philip Smith 
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