Business

Insight / Opinion: Don’t bar Branson from bailouts

Despite calls for UK corporates registered offshore to be denied government help during the coronavirus crisis, Andersen Tax’s Miles Dean argues that support could save thousands of jobs

Tax / Covid-19: VAT cut on PPE extended

The Treasury has extended the temporary scrapping of VAT on personal protection equipment (PPE) until the end of October, with the move expected to save £155m for care homes and businesses dealing with the coronavirus outbreak

Insight / Covid-19: £1.57bn support package for arts and culture

The government has announced a £1.57bn rescue package to help Britain’s arts, culture and heritage industries weather the impact of coronavirus, after leading figures from the world of theatre, music and museums warned of widespread venue closures and job losses

Audit / FRC gives four-year deadline for Big Four audit separation

The Financial Reporting Council (FRC) has given PwC, EY, KPMG and Deloitte four years in which to agree to operational separation of their audit practices, in a bid to drive up audit quality and end what the regulator dubbed ‘persistent cross subsidy’ from the rest of the firm

Tax / Coronavirus: essential updates for accountants, tax advisers and auditors

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 / HMRC shifts guidance on public access to national treasures

Covid-19 has prevented access to land and property of significant national value, but HMRC is granting owners leeway over its tax incentive scheme, say Withers’ Charlie Tee and Louise Williamson

Insight / Administration on the menu at Casual Dining Group

Casual Dining Group (CDG), which operates a range of mid-market restaurant brands including Las Iguanas, Bella Italia and Café Rouge, has collapsed into administration, with the immediate loss of 1,900 jobs

Insight / Green finance charter launched

The government, the Green Finance Institute, and 12 leading financial professional bodies, have launched the first green finance education charter, designed to embed green finance and sustainability into the core curricula, new qualifications, and the continued professional development of accountants

Insight / Push to widen FTSE board diversity

The 30% Club, which has been campaigning for better representation for women on boards for a decade, has announced new diversity targets for UK companies over the next three years, including greater BAME representation at the top level in big companies

Insight / Covid-19: support extended for motor finance and high cost credit customers

The Financial Conduct Authority (FCA) is proposing that firms extend the support offered for users of motor finance and high cost credit products, who continue to face payment difficulties due to coronavirus

Accounting / Technology and global demands drive move to strategic adviser

Whether it is through artificial intelligence, using the cloud or simply picking up the phone to offer proactive advice, the role of an accountant is shifting towards strategic advice with an international outlook, argues Chris Downing, director at professional services firm Inspire

Insight / PwC beds in at Harveys administration

PwC is handling the administration of a group of companies which includes the two high street bedroom furniture retailers Harveys and Bensons for Beds, with some operations sold in a pre-pack deal but over 1,300 jobs still at risk

Audit / Audit firms ‘respond appropriately’ to Covid-19 going concerns

Audit firms have responded appropriately to the need to enhance their evaluation of companies’ going concern assessments during the Covid-19 emergency, and the additional measures are being applied consistently, according to the Financial Reporting Council (FRC)

Tax / Hidden tax risks of raiding the pension pot

Extracting cash from your pension might seem an obvious source of income during the Covid-19 crisis, but complex tax rules mean it should only be a last resort, says LEBC Group’s Kay Ingram

Insight / FSB calls for urgent payment reforms

A majority of small companies have been hit by late payment difficulties as a result of Covid-19, despite only small minority having terms changed, according to the Federation of Small Businesses (FSB) which wants urgent reforms of payment practices
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