Pat Sweet

Pat Sweet

Pat Sweet is online reporter at Accountancy Daily and contributor to the monthly Accountancy magazine, published by Croner-i, covering news stories as they happen each day. With a background in specialist business publications, Pat covers tax, audit and accounting, as well as management consultancy and IT, and is now focused primarily on developments in the accounting and finance markets. Contact Pat Sweet

Tax / Finance Bill 2020-21: legislation and consultations announced

On 21 July, the government released draft legislation for this year's Finance Bill, plus details of the consultations first trailed at the Spring Budget, Accountancy Daily has consolidated these announcements with full details below

Insight / Chancellors and financiers on peerage list

One of the accountancy profession’s staunchest critics joins two former Conservative Chancellors of the Exchequer and senior figures from the financial services industry on the list of 36 new peers created last month

Insight / Called to account: August 2020

In this month’s scandals, convictions and penalties, first arrest over fraud involving the furlough scheme, boss banned for paying himself bonuses as the company went into liquidation, and restaurateurs served with bans over tax failures

Insight / FTSE 100 CEO pay flat in 2019

Pay packages for FTSE 100 bosses remained flat this year and are likely to fall as a result of Covid-19, but CEO pay levels remain over 100 times greater than the average UK full-time worker

Tax / Amazon hikes UK seller fees in response to digital services tax

Online marketplace Amazon is to increase fees for UK sellers next month by 2%, in response to the introduction of the UK’s digital services tax (DST), in a move which is likely to increase costs for small businesses and traders who use the platform

Insight / Follow up Covid-19 guidance for pensions administrators

The Pensions Administration Standards Association (PASA) has issued follow up Covid–19 guidance designed to highlight best practice for administrators as they navigate their way out of lockdown and businesses adopt new ways of working

Tax / HMRC’s let property campaign yield below expectations

An HMRC campaign targeted at increasing the tax take from properties which are let out is making slow progress, so far producing under a third of the yield expected, and with only a handful of landlords coming forward to make a disclosure, according to analysis by Saffery Champness

Tax / Coronavirus: essential updates for accountants, tax advisers and auditors

To assist accountants, tax advisers and auditors in dealing with the coronavirus crisis, all our related covid-19 coverage will be available here as soon as new announcements are made, plus expert analysis

Insight / New buyer is theme park’s ticket to ride out administration

PwC has found a European buyer for a third-generation family-run theme park in Tamworth, which went into administration after experiencing cashflow difficulties, putting 600 jobs at risk

Tax / HMRC and General Electric in $1bn tax dispute

HMRC is seeking to reclaim some $1bn of tax from US industrial giant General Electric (GE), amid claims the company failed to disclose full details of financing arrangements in Australia, and was allegedly using an arbitrage scheme to gain a tax advantage

Tax / HMRC looks at modernising stamp taxes on shares

The tax office has issued a call for evidence on the principles, priorities and design of a new framework for stamp duty and stamp duty reserve tax (SDRT), as a first stage in plans to modernise and digitise the regime for handling stamp taxes on shares

Insight / Mid-sized businesses have only nine months’ funding

Most of the UK’s medium-sized companies say they only have sufficient funding to continue trading for the next nine months, although a third say they are starting to recover from the impact of the Covid-19 disruption, according to research by BDO

Insight / DW Sports administration exercises BDO

BDO business restructuring partners, Graham Newton and Ryan Grant, have been appointed joint administrators of fitness chain Dave Whelan Sports Ltd (DW Sports), which has collapsed putting 1,700 jobs at risk

Insight / Championship play-off winner to collect £160m revenue boost

The winner of tonight’s Championship play-off final will score up to £160m in additional revenue over the next three seasons, with contenders Brentford and Fulham competing in the most valuable match in world football, according to Deloitte

Tax / Consultation on expanding qualifying expenditure for R&D tax relief

The government is consulting on the scope of qualifying expenditures for R&D tax credits, focusing particularly on whether expenditures on data and cloud computing ought to qualify for relief