Accountancy Daily | Accountancy Daily

Tax | Residential properties and tax liability

From principal private residence relief to inheritance tax and capital gains tax, home owners need to keep up to speed with tax liability, explains Chris Thorpe LLB ATT CTA (Fellow) TEP

24 May 2023

Tax

Property tax

Tax compliance

Tax planning

Tax | Scottish energy giant wins £200m tax case

FTSE 100 power company SSE has won a case at the Supreme Court over a long-running dispute over whether a claim for capital allowances was tax deductible

24 May 2023

Insight | Inflation falls to 8.7% but food prices remain high

The rate of inflation dropped to 8.7% in April from 10.1% the previous month, the largest fall in inflation since the Bank of England began raising interest rates in 2021

24 May 2023

Insight | Fraudster living high life jailed for £4m scam

The boss of an investment firm has been jailed for seven years after duping more than 50 investors in a £4m scam

24 May 2023

Tax | Electrical blinds are not tax deductible

HMRC has clarified the rules on claiming VAT relief on the installation of electrical blinds in building projects

24 May 2023

Audit | Corporate Governance Code up for review

The Financial Reporting Council (FRC) is planning to tighten up the Corporate Governance Code for the first time in five years

24 May 2023

Audit

Corporate governance

Tax | CPS calls for mileage tax on electric cars

Electric vehicle drivers should be charged on a pay as you go basis for every mile driven to ensure they contribute to the tax coffers

24 May 2023

Tax

Personal tax

Insight | Cottons Rugby acquires Street & Street Accounts

Warwickshire based accountancy firm Cottons has snapped up Street & Street Accounts, a Midlands firm with a strong hospitality clientele

24 May 2023

Insight

Practice & Industry

Careers

Audit | Enwell Energy search for auditor stalls

AIM listed oil and gas exploration group Enwell Energy plc is still looking for a UK auditor following the resignation of PwC in December due to Russian sanctions

24 May 2023

Audit

Corporate governance

Tax | Will ChatGPT transform how we process tax?

Generative artificial intelligence such as ChatGPT will have significant implications for accountants but AI tools need training to be a true expert in tax and accounting, argues Russell Gammon, chief solutions officer, Tax Systems

23 May 2023

Tax

Tax compliance

Technology

Tax | Doctor loses £43k tax dispute over expenses

A doctor has been told to pay tax on the majority of an expenses claim after a First Tier Tribunal (FTT) appeal

23 May 2023

Insight | Forex trader guilty of £70m Ponzi scheme

A foreign exchange boss responsible for a Ponzi-style investment scam valued at over £70m has been found guilty following a seven-week trial

23 May 2023

Tax | Q&A: R&D claim notification changes

In this week’s Q&A, we explain the new requirements for research and development (R&D) claims as new rules kick in for claimants with extra information disclosure

23 May 2023

Tax | Tax take hits £70.8bn in April

HMRC raked in £70.8bn in total tax collected in April 2023 from £63.4bn the previous month, with inheritance tax (IHT) continuing to rise as a result of frozen allowances and inflation

23 May 2023

Audit | IOSCO plans global rules for cryptoassets

A global standard setter has outlined a framework for global crypto regulation, including protections for investors and an integral role for auditors

23 May 2023

Audit

Consultations

Accounting | IASB amends IAS 12 ahead of 15% global tax rate

The International Accounting Standards Board (IASB) has amended the tax accounting requirements to help companies account for the 15% global tax rate

23 May 2023

Accounting

Accounting standards

Financial reporting

Insight | Xeinadin snaps up About Tax

Xeinadin Group has acquired About Tax to create a specialised direct tax advisory function across the UK

23 May 2023

Insight

Practice & Industry

Careers

Tax | Taxi driver tax registration extended to NI and Scotland

Advance tax registration for taxi drivers and scrap metal dealers will be mandatory in Scotland and Northern Ireland from October before a licence to operate is issued

23 May 2023

Insight | What accountants need to know about the Fraud Strategy

The government’s fraud strategy emphasises the role of accountants in preventing fraud, explain Alun Milford, partner, and Phil Taylor, professional support lawyer at Kingsley Napley LLP

22 May 2023

Insight

Business

Practice & Industry

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

Insight

Business

Practice & Industry

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

Business

Practice & Industry