Insight

Insight / Regulator orders pensions trustees to check data

The trustees of hundreds of pension schemes are to be ordered to urgently review the data they hold as part of a crackdown on poor record-keeping by The Pensions Regulator (TPR), which could result in fines of up to £50,000 for those found to be non-compliant

Accounting / Can you pay your accountant in cryptocurrency?

Top 50 accounting firm BKL is the first practice outside the Big Four to offer clients a Bitcoin payment facility. Jon Wedge, financial services partner, explains the due diligence process undertaken before launching the cryptocurrency payment service

Insight / Irish firms in €8m merger

Two Irish accountancy firms, both members of the DFK International association, are to merge to create a combined practice with an annual fee income of over €8m (£6.9m)

Audit / Audit review head warns of reform ‘drift’

Sir John Kingman, who led a highly critical review of the operations of the Financial Reporting Council (FRC) has hit out at the government over its failure to include any reference to the legislation needed for reform of the audit regulator in this week’s Queen’s Speech

Insight / Queen’s Speech: pensions, employment and airline insolvency changes

Changes to the financial services regime to prepare for Brexit, new airline insolvency rules, and a ‘pensions dashboard’ for savers were among the measures in the Queen’s Speech outlining the government’s programme for the year ahead

Tax / FCA cracks down on car finance commission

The Financial Conduct Authority (FCA) is consulting on new rules for discretionary commission models, after research in the motor finance market revealed the potential for annual savings of £165m for consumers through changes to the way brokers are paid 

Tax / Facebook’s UK tax payments under fire

Facebook’s UK tax payments have been branded ‘outrageous’ by a former chair of the public accounts committee (PAC), after the tech giant’s accounts revealed it paid £28.5m in tax in 2018, while revenues hit a record £1.65bn

Tax / Budget day is 6 November

With Brexit negotiations still finely balanced, the Chancellor of the Exchequer is planning to hold a Budget on Wednesday 6 November, the week after the UK’s scheduled date to exit the EU

Insight / Equity crowdfunding and due diligence requirements

Raising finance is always a challenge and taking the equity crowdfunding route requires additional due diligence. John Auckland of TribeFirst sets out key pointers for start-ups and growth stage companies 

Tax / R&D tax credit claims up 20%

There has been a 20% increase in the total number of claims for R&D tax credits, according to the latest HMRC figures, primarily driven by a rise in the number of SME claims, with the department forced to add extra resource to meet the demand 

Insight / Welsh environmental charity investigated over reporting

The Charity Commission has opened a new statutory inquiry into CWM Harry Land Trust Ltd, an environmental charity whose objects also include the education and rehabilitation of prisoners and ex-offenders, amid concerns about reporting failures

Insight / Accountants most popular professional advisor with SMEs

Two-thirds of SMEs have hired an accountant – making them the most popular professional adviser with this group – but a quarter says they only did so when faced with a crisis, according to research from Direct Line for Business

Insight / Finance Mole: lost mobile leads to assignation with phone box

After a spate of senior resignations, Finance Mole heads to Italy to eye up an acquisition but runs into trouble when he loses his mobile and hits Brexit woes

Insight / People in the news: RSM, Chiene + Tait, CBW, EY, Grant Thornton

In this week's accountancy career moves, we take a spin round the partner promotions, external hires and management changes 

Insight / ICAEW builds ties with Indian institute

ICAEW has signed an agreement with the Institute of Chartered Accountants of India (ICAI) for mutual recognition of their qualifications and to create a pathway for their members to become members of the other’s institutes
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