Accountancy Daily

Tax / Google to repatriate intellectual property tax status to US

Google owner Alphabet has signalled it intends to amend its international tax strategy, in line with the OECD’s proposals to require that profits are taxed in the locations where they are created

Insight / Big Four Alumni Survey: questions of conflict at FTSE 100

As the Big Four audit firms come under continuing criticism over client conflict and lack of robust interrogation of client boards, the annual Accountancy Daily FTSE 100 Alumni Survey finds widespread representation by Big Four alumni at the highest levels of UK listed companies. Philip Smith reports

Insight / Ex Big Four staff chair majority of audit committees

Six out of 10 FTSE 100 audit committees are chaired by former Big Four audit firm alumni, according to exclusive research by Accountancy Daily

Tax / Accounting causes stress to micro businesses

Micro businesses spend 10 weeks a year trying to sort out their finances and accounting compliance is one of the most stressful tasks

Insight / FTSE 100 CEOs earn average £900 an hour

Heads of the UK’s biggest companies only need to work until the end of today in order to make the same amount of money that the typical full-time employee will in the entire year

Technical Alerts

3 Jan 2020

Tax / HMRC warns 90k tax returns need clerical review

With the self assessment deadline looming, HMRC has issued a special agent update on the topic to help with last minute technical questions to avoid falling foul of over complex tax code

Insight / Called to account: best of 2019

Accountancy Daily brings you a selection of cases involving members of the accounting profession – and a few others – who did not escape the long arm of the law during 2019

Insight / Finance Mole: getting off the train at the wrong station

Finance Mole takes a break from analysing year ends and succumbs to the Christmas malaise pervading the finance department

Tax / 5.4m yet to submit tax returns

The clock is ticking on 5.4m taxpayers who have less than a month to complete their self assessment tax returns by 31 January, with risks of tough penalties for anyone who has breached the high income child benefit charge (HICBC) £50k limit

Insight / Small business confidence plunges to eight-year low

The Federation of Small Businesses (FSB) Small Business Index (SBI) measure has hit the lowest point since the last recession  

Insight / People in the news: Watson Buckle, Raffingers, RSM

In this week’s accountancy career moves, new directors at Watson Buckle, hires at Mazars, Raffingers and RSM, and BDO set to recruit 600 trainees

Insight / Nissan ex-chief Ghosn has escaped Japan

Ex-Nissan boss Carlos Ghosn, who is facing trial in Japan for alleged financial misconduct, fled the country on a private jet to Lebanon

Tax / IR35 rules for intermediaries - CPD module

This month's exclusive Accountancy Daily CPD module focuses on the IR35 rules for intermediaries which control the tax status of contractors for both the public and private sector

Technical Alerts

2 Jan 2020

Insight / Pension scammers hide behind QROPS verification

Pension savers are calling for HMRC to clamp down on scammers that are using recognition under HMRC’s Qualifying Recognised Overseas Pension Scheme (QROPS) to target nest eggs

Insight / 2020: what’s in store for accountants in the year ahead?

With Brexit unresolved and a majority government, accountants can expect a turbulent year ahead with IR35 rules for the private sector, loan charge concerns and the extension of Making Tax Digital, while auditors faces cataclysmic changes which could reshape the profession. Sara White gauges the views of industry experts

Audit / SEC plans overhaul of audit independence rules

The US Securities and Exchange Commission (SEC) is planning to update and strengthen certain aspects of the auditor independence framework

Tax / Tax rules on company mobile phones clarified

HMRC has issued guidance on the tax rules for company mobile phones for employers

Insight / National Living Wage set to increase from April

The National Living Wage (NLW) is set to increase by 6.2% to £8.72 in 2020

Tax / VAT updates: January 2020

In this month’s VAT updates, Graham Elliott considers whether dating services are consultancy, a volunteer running a bar for charity and if HMRC’s enquiries service left a club in no man’s land

Insight / Legal updates: January 2020

In this month’s legal updates, Sophie Brookes considers recovering dividend losses from auditors, shareholder consent and the Duomatic principle and shadow director fiduciary duties

Audit / Audit updates: January 2020

In this month’s audit updates, Grant Thornton given £650,000 audit fine at unnamed company, FRC bans majority of non-audit services and audit investment drives down KPMG partner pay

Accounting / Accounting updates: January 2020

This month’s roundup of accounting stories includes SFO charges at Serco, FRS 101 exposure draft released, £58m Post Office accounting settlement, M&C Saatchi misstatement hike and De La Rue flags going concern fears

Tax / Tax updates: January 2020

In this month’s tax review, Lloyd-Webbers win CGT case, dating site loses VAT fight, CEST revamp, HMRC call times cut, VAT receipts hit £133bn