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 / 'Discovery' decision may make it harder to obtain tax return certainty

Comments made by Court of Appeal judges in a recent case relating to 'discovery' assessments have potentially made it harder to obtain certainty that HMRC cannot go back and challenge a tax return, by raising  issues around what constitutes a ‘deliberate’ error by the taxpayer, according to Pinsent Masons

Accounting / IASB consults on minor IFRS improvements

The International Accounting Standards Board (IASB) has opened a three-month consultation on proposed narrow-scope amendments to four IFRS standards

Tax / UK most expensive country to send expatriates

The UK has overtaken Japan as the most expensive location to send expatriates, despite salaries remaining static, because of increases in tax and essential costs, including housing

Accounting / Accountants urged to look at simplified accounting for micros

Accountants should be doing more to encourage the very smallest companies to opt for simplified accounting such as FRS 105, according to a report on the EU’s introduction of a micro-entities accounting regime

Insight / KPMG administrators to failed Scottish IT company

Blair Nimmo, partner, and Alistair McAlinden, director, of KPMG have been appointed joint administrators of Scottish IT company Hutchinson Networks Ltd, which has collapsed following cashflow difficulties, with the loss of 100 jobs

Tax / EY alliance with Thomson Reuters on digital tax services

EY is teaming up with Thomson Reuters to develop leading-edge, digitally enabled tax services targeted at mulitnationals operating across tax jurisdictions

Accounting / ACCA pre-tax deficit doubles over pension deficit

ACCA’s pre-tax deficit more than doubled to £35.2m last year according to a preview of its financial results for the 2018-19 financial year, largely because of a one-off accounting adjustment relating to ACCA’s defined benefit pension scheme amounting to £12.5m

Insight / EY to handle British Steel administration

EY has been called in to handle the administration of British Steel after last-minute attempts to arrange a rescue deal failed and the government announced the company has gone into compulsory liquidation

Accounting / Accounting standards change to hit FTSE 100 pension schemes

Impending accounting standards changes to IFRIC 14 and the limit on defined benefit asset rules could hit FTSE 100 pension schemes by up to £100bn, double previous predictions, warns LCP

Tax / Mazars ordered to hand over Trump accounting records

Following a federal court ruling, Mazars US has been given seven days to provide President Donald Trump’s accounting records to a Congressional committee which is investigating his business dealings

Insight / Administration on menu at Jamie Oliver restaurants

Celebrity chef Jamie Oliver’s restaurant group has gone into administration after failing to secure additional financial backing with administrators KPMG closing all but threee restaurants immediately

Insight / Travel boss banned over £400K unexplained payments

The director of a Chatham-based travel agency has been banned for seven years after a lack of accounts meant it was not possible to explain thousands of pounds worth of company payments

Insight / Pub landlord banned for £7m tax inaccuracies

A pub landlord who operated several pubs and bars across Nottingham and Derby has been banned for 11 years, after causing his company to submit inaccurate documents to tax authorities, with some £7m of tax owing

Accounting / Accountancy bodies ramp up anti money laundering oversight

Regulatory bodies, including HMRC, ICAEW and ACCA, have identified 42 businesses as having potential compliance failings in customer checks, record keeping and identifying risk

Insight / FCA warning as online investment scams triple

Reports of cryptoassets and forex investment scams more than tripled last year, with victims losing over £27m in total in 2018/19, warns the Financial Conduct Authority (FCA) and Action Fraud
Subscribe