Accountancy Daily

Tax / HMRC slips up in skating rink VAT appeal

A tribunal has ruled that children’s ice skates can be hired without VAT, even when included in a skating session package. RSM’s Sarah Halsted reviews the judges’ score

Tax / One week until ‘gloves off’ HMRC furlough investigations

It's only one week until the end of the 90 day period (Tuesday 20 October) for individuals and businesses to disclose incorrect furlough claims to HMRC, or risk HMRC probe

Insight / Ban for payroll company director over unaccounted £2.7m

The director of a payroll services company has been disqualified after failing to explain the true nature of £2.7m of payments made over a two-month period

Insight / Business urged to prepare for Brexit

With less than 100 days to go before the UK leaves the EU, a poll by EY has found only one in nine businesses have a good understanding of the risks of not being prepared, while the business secretary is writing to 600,000 companies urging them to action

Insight / FRC wants more diversity at top of profession

The Financial Reporting Council (FRC) is calling on accountancy firms to prioritise increased diversity at the most senior levels of management, with partners being the least diverse when it comes to gender, ethnicity and disability, according to its latest report on the profession

Tax / Q&A: temporary rate-reduction and multiple-dwellings relief

In our regular Q&A series, Croner Taxwise, tax advice consultant Roger Bradbury, explains how multiple dwellings relief would work in a purchase following the temporary stamp duty land tax (SDLT) rate changes

Technical Alerts

12 Oct 2020

Tax / Quantum employment forcing tax and pay admin shift

The rise of the self-employed ‘quantum worker’, who takes on multiple assignments, demands a change in how businesses manage their payroll and tax management, says John Whelan, CEO of My Digital

Insight / Job support scheme expanded, three tier lockdowns to come

With the government set to introduce localised Covid-19 lockdowns of varying severity, the job support scheme (JSS) is to be expanded to support businesses required to close their doors as a result of coronavirus restrictions

Insight / Electrical engineering duo's repeat offences spark ban

A father and son team who ran an electrical installations company have banned for a total of 26 years after the pair breached previous disqualifications, and failed to meet accounting obligations

Audit / AIM bounces back to pre-Covid highs

The Alternative Investment Market (AIM) all-share index has returned to its 2020 pre-Covid highs, outperforming the FTSE all-share index, according to BDO

Insight / Finance sector recognised in Queen’s Birthday Honours

The former CEO of Grant Thornton, the billionaire brothers who recently acquired Asda and the head of GlaxoSmithkline are amongst those from the finance sector named in the Queen’s Birthday Honours List 2020

Tax / HMRC warns university students over tax scams

As students return to university at the start of the new academic year, HMRC is highlighting that they could be targeted by a fresh wave of tax scams

Technical Alerts

9 Oct 2020

Insight / How accounting practices succeed in difficult times

Faced with the Covid-19 crisis, forward thinking accountants have flourished while more traditional firms have struggled. Shane Lukas of AVN, the accountants’ association, sets out how firms can succeed while others fail

Tax / Surrey’s stockbroker belt is UK income tax hotspot

The ‘stockbroker belt’ dominates the ranking of the UK’s top ten towns with the biggest income tax bills, with taxpayers in these areas paying triple the UK average, according to research by UHY Hacker Young

Insight / US oil data company charged with $100m fraud

The Securities and Exchange Commission (SEC) has charged an international oil and gas exploration seismic data company, SAExploration Holdings (SAE), and four former executives over a multimillion dollar accounting fraud stretching back five years

Insight / Black history month: Young black talent key to long-term business representation

Marking the start of Black History Month, EY’s Zaheer Ahmad sets out what his firm is doing to tackle low black numbers in the accounting profession, including 30% targets for black work experience and school leaver recruitment

Insight / People in the news: Thomas Westcott, MHA MacIntyre Hudson, EY

In this week’s accountancy career moves, partners appointed at Thomas Westcott, MHA MacIntyre Hudson and Deloitte, financial services leader named at EY, and associate director appointed at RSM

Insight / Deloitte appoints new audit leadership line-up

Deloitte has announced its new audit and assurance leadership team as the firm begins to implement operational separation of audit and other service lines

Technical Alerts