Insight

Tax / Wholesalers top HMRC’s £13m deliberate tax defaulters list

HMRC’s latest quarterly list of deliberate tax defaulters is topped by three wholesale suppliers, each of which paid over £1m in penalties for underpaid tax, while fast food outlets, hairdressers, hauliers and grocery shops also feature among the more than one hundred ‘named and shamed’ businesses found to be owing some £13m

Insight / People in the news: BDO, Menzies, BTG Advisory

In this week’s accountancy career moves, hires and promotions at BDO LLP, Menzies, Johnston Carmichael, BTG Advisory and HW Fisher

Insight / Baldwins snaps up £1.6m Gardners accountants

Gardners Chartered Accountants, based in Holywell, has been acquired by the Baldwins Group which now has over 95 offices across England, Scotland and Wales

Insight / Using apps to manage your finances

Jonathan Amponsah CTA FCCA, founder of The Tax Guys, takes a look at a selection of apps to help manage business finances, keep track of accounts and maximise productivity

Tax / HMRC warning on double NICs' liability if no-deal Brexit

In the event the UK leaves the EU without an agreement, HMRC has warned that the current agreements to avoid double payment of the equivalent of national insurance contributions (NICs) in member states will be voided, affecting seconded employees

Insight / Restaurant bosses banned for cooking the tax books

Two restaurateurs from Glasgow have been banned for a total of 17 years for failing to pay HMRC more than £4m in taxes owed from a string of businesses

Insight / Smith & Williamson signs £1.8bn merger with wealth manager Tilney

Top 10 fund management and accounting firm Smith & Williamson has confirmed it is merging with Tilney in a £1.8bn deal to create an integrated group combining wealth management and professional services

Insight / Langricks merges with Michael Bell & Co accountants

Cheshire-based Langricks Chartered Accountants has acquired accounting firm Michael Bell & Co, formalising long-established ties to form a new expanded practice

Audit / Quality of local authority audit under review

Practitioners who work in the local government sector and audit community are being urged to contribute to the government’s independent Redmond review into the quality and effectiveness of local authority audit

Insight / Accountant jailed for £140k fraud at family-run business

A former accountant at a family-owned business in London who fraudulently transferred more than £140,000 worth of payments to her personal account has been jailed after her champagne lifestyle aroused suspicions

Tax / Time to reform Gift Aid tax relief for charities

The Charity Tax Commission’s latest review of the charity tax system criticised the lack of accountability over Gift Aid which is costing taxpayers £5bn a year in tax breaks to charities. Croner-i lead tax writer Stephen Relf CTA FCA explains why Gift Aid reform is overdue

Accounting / Regulator and government ramp up Brexit advice

With six weeks until the Halloween deadline for Brexit, the Financial Reporting Council (FRC) has written to audit committee chairs and finance directors setting out actions companies should consider in advance of the UK’s exit from the EU

Insight / Fish Partnership rebrands under Wilkins Kennedy name

The Fish Partnership has rebranded as Wilkins Kennedy after the accountancy firm was snapped up by fast growing Baldwins Group last year

Insight / Jailed boss to repay £300K tax fraud or do extra time

A jailed airport car park boss must repay almost £300,000 deducted from employees under PAYE but never paid to HMRC, or face another three years behind bars, a court has ordered

Insight / PwC partners earn £765k as profitability breaks £1bn

Big Four accounting firm PwC has reported record fee income of £4.23bn as partners are set to receive a partner payout of £765,000 and group profitability breaks the billion pound barrier
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