Insight

Insight / European data breach fines hit £97m

European regulators have imposed €114m (£97m) in fines under the GDPR regime for data privacy infringements, with a further €329m in fines threatened by the UK regulator

Insight / FS firms pause post-Brexit relocation plans

With 10 days to go until the UK officially leaves the EU, financial services firms have gone quiet on relocation announcements, and are focusing instead on the nature of post Brexit relationships, according to research from EY

Insight / Lord attempts to save SMEs with 30-day payment limit

Lord Mendelsohn is introducing a Private Members Bill to the House of Lords in an effort to tackle late payments and to strengthen the powers of the Small Business Commissioner

Insight / Military vehicle manufacturer loses cashflow battle

Blair Nimmo, partner, and James Lumb, director, from KPMG’s restructuring practice have been appointed joint administrators of Penman MW Ltd

Insight / Beales sunk by high rent and low sales

KPMG has been appointed as administrator of department store Beales as the company collapses into administration following high rent and poor Christmas sales

Audit / Green corporate governance vital to 2030 environment goals

Accounting bodies have called for listed companies to improve reporting on the UN’s Sustainable Development Goals (SDG) in an attempt to meet 2030 environmental goals

Accounting / Guernsey overhauls corporate insolvency rules

Guernsey is to reform its insolvency laws to create a more effective corporate insolvency regime with more accountability for directors

Audit / Investors want more insight into relationship between board and employees

Companies need to improve their reporting on workforce-related issues by providing clearer and more consistent information about how staff link to the business strategy

Insight / Property pair jailed for £1m tax fraud

Two men who bought and sold over 50 properties but failed to pay nearly £1m in tax, have been jailed for more than eight years following an HMRC investigation.

Insight / Wealth series: advising an entrepreneur after a business sale – part 3

Ian Dembinski, head of client development at Rathbone Investment Management, explores the partnership between accountant and wealth manager in guiding entrepreneurs through the sale of their business and managing their wealth in the longer term

Tax / Flybe confirms time to pay arrangement over £10m APD tax arrears

Flybe has rejected claims that it owed HMRC over a £100m in airline passenger duty (APD) arrears, stating that the unpaid tax is closer to £10m

Insight / Mazars global reports hike in fee income to €1.77bn

Mazars, the international accounting and audit network, has reported a 10.4% hike in revenue to €1.77bn (£1.51bn) for year end 2019, marking record organic growth spurred by expansion in China

Insight / People in the news: Hurst, Mercer & Hole, Beever and Struthers

In this week’s accountancy career moves, partner appointments at Hurst, Mercer & Hole, partner promotion at PwC and senior audit hires at Beever and Struthers and DTE

Insight / Accountant fined for pension enrolment failure

A former accountant accused of misleading The Pensions Regulator (TPR) after he failed to enrol a client’s staff into a pension has been ordered to pay £4,987

Insight / ACCA launches student wellbeing hub

The Association of Chartered Certified Accountants (ACCA) has launched a new wellbeing hub to provide mental health, lifestyle and community support for students, in response to requests for additional help with exam stress
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