Accountancy Daily

Employment tax

Tax compliance

Accounting | Paying dividends: what you need to know

The adverse impact of coronavirus on some companies’ trading fortunes now means business owners need to watch out before they calculate dividends, as they may be liable for losses should the business subsequently fail. Tyrone Courtman, insolvency partner at RSM explains

1 Apr 2021

Financial reporting

Tax | VAT updates: April 2021

In this month’s VAT updates, Graham Elliott, VAT expert examines recent cases on input tax from charity imported services in Wellcome Trust to DIY Housebuilders Scheme claim relating to property development in Long case

1 Apr 2021

VAT

Case reports

| Legal updates: April 2021

In this month’s legal updates, Sophie Brookes, partner at Gateley, examines the rulings on disguised distribution in SSF Realisations and the definition of a 'manifest error' in Flowgroup

1 Apr 2021

Navigate Tax

Law and regulation

Tax | 10% of mid-sized business furlough claims incorrect

One in 10 (13%) mid-sized businesses who have reviewed their initial furlough claim found it to be incorrect, according to research from Grant Thornton

1 Apr 2021

Insight | Regulator launches inquiries into two wildlife charities

The Charity Commission has opened a statutory inquiry into the Howletts Wild Animal Trust over serious concerns about the charity’s governance and financial management, while it is also examining the Aspinall Trust

1 Apr 2021

Charities

Insight | People in the news: Wilson Wright, Grunberg, Grant Thornton, ICAEW

In this week’s accountancy career moves, partner and manager promotions at Wilson Wright, Grunberg & Co, Hillier Hopkins and Kroll, plus senior management changes at ICAEW

1 Apr 2021

Insight | Johnston Carmichael launches virtual work experience for students

Scottish accountancy firm Johnston Carmichael has launched a virtual workplace challenge for more than 100 students across the country

1 Apr 2021

Tax | National Living Wage and National Minimum Wage rise from 1 April

Millions of workers in all parts of the UK will receive a pay increase from today as minimum pay rates rise, with the age threshold reduced to 23 year olds

1 Apr 2021

Employment tax

Tax | Will the new late filing penalties be fair and consistent?

Meg Wilson, tax writer at Croner-i, examines the points-based late filing penalty regime being introduced in Finance Bill 2021 for VAT and income tax submissions

31 Mar 2021

Accounting | Lack of clarity on sustainability reporting metrics

Over 30% of executives say their organisations are starting to feel the operational impact of climate-related disasters and more than a quarter are facing a scarcity of resources

31 Mar 2021

Financial reporting

Tax | HMRC’s cryptocurrency tax treatment introduced without law

The latest HMRC guidance on the tax treatment of cryptocurrency comes without any legislation underpinning it, warns tax and advisory firm Blick Rothenberg

31 Mar 2021

Business tax

Tax compliance

Insight | Old Mill acquires Yeovil family accountancy firm

South West financial experts Old Mill has acquired Yeovil-based family accountancy firm Ivan Rendall & Co

31 Mar 2021

Insight | PwC announces flexible working deal for employees

Following extensive consultation with employees, PwC has told its 22,000 staff and partners that it is making changes to allow greater flexibility for post-pandemic working

31 Mar 2021

Insight | Jon Holt lined up for KPMG chief executive role

The board of KPMG UK has nominated Jon Holt, currently head of the UK audit practice, as its nominee for the role of chief executive following the resignation of chair Bill Michael

31 Mar 2021

Insight | Scaffolder banned after disposing assets prior to bankruptcy

A Kenilworth scaffolder has been banned for four years after spending £142,000 prior to bankruptcy to avoid paying creditors

31 Mar 2021

Called to account

Tax | April 2021 changes to Making Tax Digital (MTD) for VAT reporting

From 1 April 2021, UK VAT registered businesses will face more Making Tax Digital (MTD) obligations. Scott Craig, partner and head of VAT at Azets, explains the key changes and penalty system

30 Mar 2021

Tax | End of the tax year tips

As the end of the tax year fast approaches, Kevin Sefton, CEO of untied, the personal tax app, sets out the 10 steps to ensure you reduce your tax liability

30 Mar 2021

Personal tax

Tax planning

Accounting | Mandatory climate-related financial disclosures by 2022

The government has launched a consultation on introducing mandatory climate-related financial disclosures for publicly quoted companies, large private companies and LLPs, set to come into effect from April 2022

30 Mar 2021

Financial reporting

Consultations

Tax | Q&A: input tax on business gifts

In this week’s Q&A, Priyesh Mistry, VAT advisor at Croner Taxwise, considers whether VAT can be reclaimed on gifts from a client received by a supplier

30 Mar 2021

VAT

Tax compliance

Insight | TC Group merges with accounting firm in Leicester

TC has expanded its presence in the East Midlands following a merger with Leicester-based practice, Sence Accounting

30 Mar 2021

Accounting | IASB plans to improve disclosure notes in financial statements

The International Accounting Standards Board (IASB) is consulting on a new approach to developing disclosure requirements in IFRS standards and new disclosure requirements on fair value measurement and employee benefits

30 Mar 2021

IFRS

Consultations

Insight | Property developers abuse millions of investor funds

Two property directors have been banned for 25 years after misusing £7.7m taken from investors for student accommodation never completed

30 Mar 2021