Accountancy Daily

Accounting / Shohet: why accountancy firm rankings matter

Climbing the accountancy league table is a serious business, but the overall pattern of movement suggests an existential threat to the practice community, write Foulger Underwood’s Phil Shohet and Kevin Reed

Tax / HMRC revamps CEST IR35 off payroll working tool

With four months to go until the IR35 off payroll rules start to apply in the private sector, HMRC has published its first update to its controversial check employment status for tax (CEST) tool since it was launched in 2017

Tax / Brexit Party plan to ‘abolish inheritance tax’

The Brexit Party want to stop inheritance tax (IHT) and exempt small businesses with profits before tax of under £50,000 from corporation tax

Tax / US threatens 100% tariffs over French digital services tax

The US has warned it may levy 100% trade tariffs on up to $2.4bn (£1.85bn) of French goods, including cheese and champagne, in response to a federal investigation which concluded that France’s digital services tax (DST) discriminates against US companies

Tax / Counterfeit goods costing UK economy £9.2bn

The UK economy is missing out on billions a year as a result of the global trade in fake goods, which  was behind more than 86,000 lost jobs in 2016, according to the OECD

Insight / EY snaps up SAP consulting business

Big Four firm EY has expanded its consulting arm with the acquisition for an undisclosed sum of AgilityWorks, a technology consultancy business with offices in the UK, Portugal and India 

Tax / Q&A: tax and joint rental income

In our regular Q&A series from Croner Taxwise, tax adviser, Marsha Haywood explores how joint rental income tax can be divided between owners more tax efficiently

Technical Alerts

2 Dec 2019

Tax / Gaines-Cooper and the implications for domicile

Dating back to the 1990s, the argument over Robert Gaines-Cooper’s domicile status is back in court, reminding high net worth individuals about the importance of keeping up to date with changes in tax avoidance legislation, warns international tax barrister Leon Fernando Del Canto

Insight / Beef farmers jailed over £610k VAT fraud

A farmer and his wife have been jailed for their role in a £610,000 VAT fraud, following an HMRC investigation into their County Armagh beef cattle farm

Accounting / Ted Baker to investigate £20m inventory overstatement

Upmarket fashion brand Ted Baker is launching a review of its accounting methods after discovering the value of inventory held on its balance sheet has been overstated by some £20m

Tax / Tax filing deadlines: Dec 2019

The key HMRC filing deadlines including corporation tax third quarterly instalment payment for companies with annual taxable profits exceeding £20m and corporation tax returns for accounting periods ended 31 Dec 2018

Insight / Anti money laundering rules - CPD module

This month's exclusive Accountancy Daily CPD module focuses on the latest anti-money laundering rules providing a reminder of the basic legislation, which is as crucially important as ever, and to outline the most important areas where recent modifications have been or are being made to the legislation

Tax / Tax updates: December 2019

In this month’s tax news, Gaines-Cooper returns to court, Higgins wins CGT claim, TV presenter Fospero and IT contractor in IR35 decisions, R&D tax credit claim fails and general election pushes back Finance Bill

Insight / Legal updates: December 2019

In this month’s legal updates, Sophie Brookes, partner at Gateley plc, considers whether a signatory must see a witness sign in Wood and sponsorship rights at Liverpool FC

Accounting / Accounting updates: December 2019

This month’s accounting update includes 10-year ban for ex-BHS boss, £40m losses at Goals Soccer Centre, FRC demands corporate reporting improvements, CIMA updates ethics code, EU securities markets regulator prioritises IFRS 16, US part delays lease standard, CIPFA clarifies property investment rules, and college accounts direction is updated

Audit / Audit updates: December 2019

In this month’s audit updates, Deloitte partner fined over Serco misconduct, PwC fails to strike out multimillion euro claim, audit switches at BHP, ITV and Staffline, FRC considers fixed fees as audit quality declines, MPs slam audit automatons, and ethics code leads to ISA changes

Tax / VAT updates: December 2019

In this month’s VAT updates, Graham Elliott, director at City & Cambridge Consultancy, considers when an employment bureau can and cannot be a joint employer, whether a community amateur sports club can be a charity and the impact of trying to backdate a flat rate scheme application

Technical Alerts

29 Nov 2019

Tax / EU forced to back down on plan for tech giant tax transparency

Twelve members of the EU’s European Council have voted against plans to introduce tough tax laws to force multinationals to disclose their profits and tax liability in each EU member state

Insight / Administrators seek missing £76m at care home provider

A development company which claimed to be opening a network of luxury care homes has gone into administration and is under investigation over the disappearance of £76m of investors’ money

Tax / Labour and Conservative spending plans unrealistic says IFS

The Labour pledge to not raise taxes is ‘clearly not true’, the same Tory promise is doubtful as their plans would result in ‘taxing or borrowing more’

Insight / Church charity trustees banned over £450k unauthorised payments

The Charity Commission has disqualified the trustees of a London-based Christian charity after discovering unauthorised payments of over £450,000 and cash withdrawals of over £700,000

Insight / How to handle romantic relationships at work

After a number of high profile dismissals over work-based relationships, Beverley Sunderland, managing director of Crossland, examines what steps to take to reduce risks for firms dealing with conflicts of interest, allegations of sexual harassment and claims for unfair dismissal

Insight / Finance staff frustrated by ‘laggard’ bosses

Finance professionals want senior bosses to move with the times when it comes to modern work practices like remote working, and cite out of date views as a greater barrier than lack of technology, according to research from accounting software provider, CaseWare UK

Tax / Tax data: CGT data, HMRC rates of interest - Dec 2019

Download the current HMRC CGT indexation allowance unchanged since December 2017, RPI index for October 2019, HMRC rates of interest, and property tax rates including SDLT, Scottish LBTT and Welsh LTT

Insight / People in the news: Chiene + Tait, EY and Cowgills

In this week’s accountancy career moves, chair at Chiene + Tait, hires at EY, Cowgills, Carey Olson, and an interim takes over as the Small Business commissioner

Accounting / Wanted: audit & accounting technical writers at Croner-i

Croner-i has an exciting opportunity for two audit & accounting technical writers to join a lively team based in our Blackfriars London office

Technical Alerts