Accountancy Daily

Tax / The tax implications of creating a permanent establishment

Allan Cinnamon, former head of international tax at BDO, looks at the case of a niche book business navigating cross-border distribution, and tax in foreign jurisdictions, by establishing an international presence

Accounting / Charities SORP amended to reflect changes to FRS 102

The amendments to the Charities Statement Of Recommended Practice (SORP) are intended to bring it into line with changes to Financial Reporting Standard (FRS) 102 and provide guidance on how to apply the standard to charity accounts

Insight / BDO sees 8.5% rise in revenues to £464m

BDO has posted an 8.5% increase in revenues to £464.1m from £427.8m last year, while profits went up by 19.7% to £109.4m

Audit / FRC to consider ban on consultancy work for audit clients

The Financial Reporting Council (FRC) is considering a potential ban on audit firms doing any consulting work for the bodies they audit as part of the regulator’s new strategic focus designed to ensure audit better serves the public interest

Tax / Dutch reconsider dividends tax post-Unilever

The coalition government in the Netherlands is to re-consider proposals to scrap the country’s tax on dividends, which were intended to make it a more attractive destination for foreign companies, in light of Unilever’s U-turn on plans to relocate its headquarters from London to Rotterdam

Tax / Proposals for CGT cut for ‘generation rent’ landlords

The government is being urged to introduce a new ‘chance to buy’ scheme which would offer capital gains tax (CGT) incentives for landlords to sell their properties to long-term tenants, as a way of addressing the UK’s housing crisis

Insight / Security systems boss jailed for defrauding creditors

The director of a Warwickshire company that manufactured security systems has been given a two year prison sentence for defrauding his creditors to the tune of £600,000, following an Insolvency Service investigation

Tax / HMRC challenged over customs declarations system

HMRC has come under fire from MPs over delays to the development of its new customs declaration service (CDS) and its failure to communicate with businesses about potential changes to customs processes in the event of a ‘no deal’ Brexit

5 Oct 2018

Insight / Finance Mole: drinking is not the answer

Finance Mole faces a backlog of payment collections and is tempted by a crafty beverage on the home commute, stormy times for the cloud as Xero suffers network issues, Chancellor Philip Hammond makes a blunder in front of the Lord Economic Affairs Committee

Insight / People in the news: Deloitte, RSM, Carey Olsen

This week's news of professional moves in the sector includes a partner appointment in Deloitte’s advisory corporate finance practice, RSM appoints an associate director, a director in its restructuring practice and a partner in Milton Keynes, Carey Olsen gains a partner

Insight / Moore Stephens' revenue up 13% in wake of merger

Moore Stephens LLP has grown revenue by 13% to hit £137.5m in the year to 30 April 2018, up from £121.4m in 2017

Tax / Knight and Morton set to leave Office of Tax Simplification

There is a shakeup at the top of the Office of Tax Simplification (OTS) as chair Angela Knight and tax director Paul Morton have both announced that they will be leaving the organisation for personal reasons

Insight / Average salary for accountants rises 9%

Remuneration for accountancy roles has reached a ‘record high’, according to research from CV Library, with average salaries growing 9% to reach £34,660

Insight / Company bosses jailed over £360k tax fraud

A pair of company bosses have been jailed for a total of 30 months after stealing £360,000 through various tax frauds, after an HMRC investigation

Tax / Tax collection help for developing countries proving effective

An international initiative that assists developing countries to effectively tax multinational businesses has met with considerable success in generating additional revenue

4 Oct 2018

Tax / Brexit: tax implications for EU employees living and working in the UK

Jackie Hendley, head of tax at accounting firm Smith Cooper, explores the potential UK tax issues of Brexit, in particular what a No Deal Brexit might mean for EU employees living and working in the UK in terms of PAYE, NICs and short-term business visitors

Tax / Making Tax Digital for VAT - practical examples

Stan Dencher, specialist tax writer at Croner-i examines some practical examples of how Making Tax Digital for VAT will change the way companies submit their quarterly VAT numbers via digital reporting from 1 April 2019

Accounting / FTSE 100 making progress on climate change reporting

More top UK companies are taking climate change reporting seriously with BT, Marks & Spencer and Unilever topping the annual Eco-Act Sustainability Reporting Performance of the FTSE 100 index

Insight / Consultation on tackling late payments

The department for business, energy and industrial strategy (BEIS) is consulting on strategies to tackle late payments for goods or services to smaller companies by larger firms

Insight / SMEs failing to prioritise governance

SMEs find it difficult to put good governance practices into place due to limited time and resources, research has revealed

Audit / IAASB issues ISA 540 (Revised) for audit of accounting estimates

The International Auditing and Assurance Standards Board (IAASB) has released International Standard on Auditing (ISA) 540 (Revised), its revised standard for the audit of accounting estimates and related disclosures

Insight / FCA sets rules on pension transfer advice

Pension transfer advisers will be required to have specific qualifications in providing investment advice under new rules from the Financial Conduct Authority (FCA)

Insight / PwC global revenues up 7% to hit $41.3bn

PwC global’s earnings have hit a record high with gross revenue reaching $41.3bn for the year ending 30 June 2018, a growth of 7% in local currency and 10% in US dollars