Business

Insight / Brexit Withdrawal Act given Royal Assent

Brexit is moving a step closer with the Withdrawal Agreement Act now in statute following Royal Assent and completion of the implementation period by 31 December 2020 

Insight / Value of fraud cases exceeds £1bn in UK courts

The number of insider fraud cases involving businesses has more than doubled in the last year, according to figures from KPMG

Insight / Nexia network revenue hits £3.3bn

Accounting network Nexia International saw a 7% rise in revenues last year, with total fee income of more than $4.3bn (£3.3bn)

Insight / European data breach fines hit £97m

European regulators have imposed €114m (£97m) in fines under the GDPR regime for data privacy infringements, with a further €329m in fines threatened by the UK regulator

Insight / FS firms pause post-Brexit relocation plans

With 10 days to go until the UK officially leaves the EU, financial services firms have gone quiet on relocation announcements, and are focusing instead on the nature of post Brexit relationships, according to research from EY

Insight / Lord attempts to save SMEs with 30-day payment limit

Lord Mendelsohn is introducing a Private Members Bill to the House of Lords in an effort to tackle late payments and to strengthen the powers of the Small Business Commissioner

Insight / Military vehicle manufacturer loses cashflow battle

Blair Nimmo, partner, and James Lumb, director, from KPMG’s restructuring practice have been appointed joint administrators of Penman MW Ltd

Insight / Beales sunk by high rent and low sales

KPMG has been appointed as administrator of department store Beales as the company collapses into administration following high rent and poor Christmas sales

Audit / Green corporate governance vital to 2030 environment goals

Accounting bodies have called for listed companies to improve reporting on the UN’s Sustainable Development Goals (SDG) in an attempt to meet 2030 environmental goals

Audit / Investors want more insight into relationship between board and employees

Companies need to improve their reporting on workforce-related issues by providing clearer and more consistent information about how staff interface with wider the business strategy, says UK standard setter

Insight / Wealth series: advising an entrepreneur after a business sale – part 3

Ian Dembinski, head of client development at Rathbone Investment Management, explores the partnership between accountant and wealth manager in guiding entrepreneurs through the sale of their business and managing their wealth in the longer term

Tax / Flybe confirms time to pay arrangement over £10m APD tax arrears

Flybe has rejected claims that it owed HMRC over a £100m in airline passenger duty (APD) arrears, stating that the unpaid tax is closer to £10m

Tax / Global anti-money laundering fines top £6bn

A record number of anti-money laundering (AML) penalties were handed down worldwide last year, totalling over $8bn (£6.2bn), with the US authorities taking the lead, imposing twice as many fines as UK regulators

Insight / Financial stress worst in retail

One in five businesses are financially stressed, with more than 1,000 companies in situations of acute distress

Insight / RSM invests in creditor services expansion

RSM is beefing up its creditor services business with a £100k plus investment, including substantial investment in products, people and premises, in anticipation of increasing activity as the UK economy comes under strain
Subscribe