Philip Smith

Philip Smith

Philip Smith is contributing editor at Accountancy Daily and a freelance journalist specialising in accountancy and tax matters. He is a regular contributor to Accountancy, providing indepth analysis and research on FTSE audits and accounting practices. Before embarking on a freelance career he worked as a senior media relations manager for EY and KPMG.

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 / FTSE finance chiefs’ pay cut by 12% as Covid-19 bites

Investor pay revolts reached a five-year low last year as boards keep stricter watch on remuneration, Deloitte survey of FTSE 100 executive pay reveals

Tax / HMRC scores as football tax probes triple in one year

The number of HMRC investigations into the tax affairs of professional football players has hit nearly 250, with focus on image rights deals, UHY finds

Insight / BAME firm survey 2020: slow progress despite BLM push for change

In Accountancy Daily’s third survey of ethnic diversity within the UK’s top accountancy firms, data reveal partners and staff remain overwhelmingly white while Black Lives Matter movement forces concrete action

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 / BAME 2020: Vincent Egunlae, associate, Grant Thornton

In the first of a series, Accountancy Daily speaks with those fighting to improve BAME representation within the accountancy profession. Vincent Egunlae, founder of Grant Thornton’s Ethnicity Group, highlights barriers to the profession, the importance of inclusion and the need for frank discussions

Insight / BAME 2020: one in 250 partners is black at top eight accountancy firms

Accountancy Daily’s survey of ethnic diversity within the UK accountancy profession shows there are only 17 black partners in the top eight firms despite signs of increasing black, Asian and minority ethnic representation among staff

Tax / Finance Bill 2020-21: corporate interest restriction rules amended

HMRC has announced technical changes to interest restriction rules ‘to make sure the regime works as intended’ in line with the OECD’s Base Erosion and Profit Shifting (BEPS) framework

Tax / Finance Bill 2020-21: ATED and SDLT relief for housing co-ops

HMRC has announced relief for housing co-operatives from Annual Tax on Enveloped Dwellings (ATED) and Stamp Duty Land Tax (SDLT)

Tax / Finance Bill 2020-21: New SDLT rates for non-UK residents

HMRC has issued draft legislation for 2% additional stamp duty land tax (SDLT) for non-UK resident purchasers of residential property, set to be introduced from 1 April 2021 and forecast to raise £250m over five years

Audit / FTSE 250: firms in fees bonanza amid regulatory scrutiny

The long-expected hike in audit fees has finally come to pass, with FTSE 250 companies now paying on average 14% more this year to their auditors than last year, while challenger firms are beginning to make inroads, reports Philip Smith

Audit / AQI 2020: FRC’s audit rating of top firms

Accountancy Daily has consolidated FRC’s annual audit quality inspection cycle of the Big Four and mid tier firms, find the full details below

Audit / AQI 2020: Mazars improves on previous year at time of growth

The FRC is calling on mid-tier firm for extra rigour as it takes on larger and more complex audits

Audit / AQI 2020: Grant Thornton branded ‘unacceptable’ despite increased scrutiny

FRC’s AQI report finds only 55% of audits at mid-tier firm require no more than limited improvements following dire 2019 report

Audit / AQI 2020: BDO in dock for revenue audit failings

FRC urges ‘robust action’ as audit quality takes a backwards step at mid-tier firm with only 63% of audits up to scratch