Accountancy Daily

Insight | Couple sentenced for £150k restaurant fraud

A married couple who siphoned £150,000 out of a luxury restaurant has been handed two-year suspended sentences for fraud

22 May 2023

Tax | Accountant loses £78k tax appeal

An accountant has lost an Upper Tribunal case against a notice of requirement (NOR) to pay security for PAYE and national insurance contributions (NICs) totalling £78,000

22 May 2023

Audit | FRC publishes minimum standards for audit committees

The Financial Reporting Council (FRC) has issued the minimum standards of conduct for audit committees within the FTSE 350 to help contribute to a more robust audit market

22 May 2023

Accounting | IFRS issues guidance for SMEs on climate-related matters

The IFRS Foundation has published educational material into SMEs accounting standards related to the effects of climate-related matters on financial statements

22 May 2023

Insight | UK tax vacancies fall year-on-year

Professional tax jobs in London plunged by 13.8% compared to 2021, which saw a total of 16,000 vacancies registered, according to a report by Morgan McKinley

22 May 2023

Insight | Deloitte offers risk management MSc to audit graduates

Edinburgh Napier University and Deloitte have signed a deal to launch a custom-made MSc postgraduate qualification for the firm’s employees

22 May 2023

Careers

Tax | Plans to simplify construction industry scheme

HMRC is consulting on plans to simplify the administrative burden of the construction industry scheme by simplifying some reporting requirements

22 May 2023

Business tax

Consultations

19 May 2023

Insight | Rishi Sunak’s wealth falls by £200m on rich list

The prime minister, Rishi Sunak, and his wife ranked 275th in the Sunday Times rich list, with a fortune worth around £529m, down a third on the previous year

19 May 2023

Insight | Fraudster behind iSpoof jailed for 13 years

The administrator responsible for running a fraud website which stole up to £100m from HMRC and other organisations has been jailed for 13 years

19 May 2023

Insight | People in the news: Mitchells, Johnston Carmichael, Westcotts, GWA

In this week’s accountancy career moves, partner promotions and hires at Mitchells, Johnston Carmichael, Westcotts, GWA, Sapphire, Forensic Risk Alliance, PKF Littlejohn and Macalvins

19 May 2023

Careers

Leadership & management

Tax | Waste company loses £1.6m tax case

A waste company has lost a First Tier Tribunal (FTT) appeal after missing an appeal deadline over disputed landfill tax amounting to £1.6m

19 May 2023

Insight | Sixth crypto exchange platform AAX collapses

Quantuma have been appointed as joint provisional liquidators to handle the failed crypto exchange AAX, owned by Atom Holdings

19 May 2023

Insolvency

Tax | Landlord registration plan will drive HMRC investigations

The launch of a landlord database outlined in the Renters Reform Bill will give HMRC unparalleled access to information to launch tax investigations

19 May 2023

Property tax

Tax compliance

Insight | Webinar on anti-money laundering rules for accountants

19 May 2023

Insight | Ex-CEO spared jail after hiding £95k from investigators

The former chief executive of London Capital & Finance, Michael Thomson, has avoided jail after hiding £95,000 from investigators to fund his lavish lifestyle

19 May 2023

Insight | KPMG plans early finish Fridays from June

KPMG UK will be running its Jump Start programme again this summer giving staff Friday afternoons off

19 May 2023

Careers

Leadership & management

Tax | Late interest penalties hit 1.4m taxpayers

More than 1.4 million taxpayers had to pay interest for late payments in the 2020-21 tax year after missing filing deadlines

19 May 2023

Insight | Liquidity and financial risk top threat for businesses

Six in 10 chief internal auditors said that economic uncertainty means that financial, liquidity and insolvency risks were now the biggest concern for businesses

19 May 2023

Insolvency

18 May 2023

Accounting | Speedy fixes £20.4m inventory gap in accounts

FTSE listed equipment hire business, Speedy Hire plc, has resolved problems relating to undervaluing millions of pounds of assets in its annual accounts for previous year ends

18 May 2023

Accounting

Financial reporting

Tax | 900k child trust funds unclaimed, MPs told

MPs called on HMRC to do more to unite young people with their child trust funds (CTFs) as nearly £400m has not been claimed

18 May 2023

Insight | Payroll clerk jailed for £350k fraud

A payroll clerk who stole more than £350,000 after finding a glitch in the IT system has been jailed for four and a half years

18 May 2023

Tax | MPs call for simplification of 1,180 tax reliefs

The tax system is becoming more complex with over 1,100 tax reliefs creating more compliance risks, HMRC official tells MPs

18 May 2023

Tax | Taxpayers told to use HMRC online services by Treasury

The continuing problems with service levels at HMRC can only be resolved by accountants, businesses and tax agents using online instead of phone calls, Treasury minister says

18 May 2023

HMRC

Politics

Insight | Beever and Struthers works with Aston to improve audit

Aston University has signed an agreement with accountants Beever and Struthers to support digital transformation and improve audit using data analytics

18 May 2023

Leadership & management

Tax | Claim tax reliefs on work-related expenses

Anyone planning to claim tax relief on work-related expenses should submit claims directly with the tax authority and avoid using repayment agents, HMRC warns

18 May 2023