Sara White

Sara White

Sara White is editor of Accountancy magazine and Accountancy Daily, published by Croner-i Ltd, and is responsible for the Accountancy portfolio which includes monthly print magazine Accountancy, online and digital news service, email newsletters and social media at @accountancylive on Twitter. Any comment and feedback is always welcome so do not hesitate to get in touch by email

Tax / Graduates overpay £28m in student loan errors

The government is holding more than £28m of overpayments made to the Student Loan Company (SLC) in error, as a result of repayments being deducted from individuals after they have paid off their loans in full

Tax / PAYE RTI penalties to remain risk-based

Following a review, HMRC has decided to continue the risk-based approach to PAYE late filing and late payment penalties for employers throughout the 2019/20 tax year with penalties due to go out from September

Tax / Making Tax Digital for VAT webinar date

HMRC is running a live webinar on Making Tax Digital for VAT compliance this Friday to help businesses who have not yet signed up for mandatory digital reporting

Accounting / Moody’s warns on staggered adoption date for lease standard

Credit ratings agency Moody’s has criticised plans to defer the rollout of the new US lease accounting standard for smaller companies and non-profits, saying it will distort comparability of accounts

Tax / Making Tax Digital IT maintenance affects submission process

HMRC has resolved a technical issue affecting submissions of Making Tax Digital for VAT returns following IT maintenance over the weekend

Insight / CVR Global snaps up Moore Stephens' Jersey restructuring arm

CVR Global is expanding into the Channel Islands with the acquisition of the restructuring and insolvency team of Moore Stephens in Jersey

Accounting / FRC consults on draft feedback on IFRS 17 pre-release amendments

The Financial Reporting Council (FRC) has released a draft of its proposed responses to IASB’s pre-implementation consultation on complex amendments to IFRS 17 Insurance Contracts even before the standard has been released

Insight / Tilney targets Smith & Williamson for merger

Leading wealth manager Tilney and top 10 fund management and accounting firm Smith & Williamson, are reportedly mulling a merger which would create a combined entity with some £45bn of assets under management, with the accounting division kept within the group

Accounting / Kingfisher faces £2.6bn lease liability on balance sheet

FTSE 100 home improvement group, Kingfisher, has warned that the new lease accounting standard, IFRS 16, which it has adopted retrospectively, has affected certain half year 2018/19 and full year 2018/19 income statement line items, including retail profit by geography

Accounting / US standard setter consults on delay to lease accounting standard

The US Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU) that would grant private companies, not-for-profit organisations, and certain small public companies additional time to implement the new standard on leases, current expected credit losses (CECL) and hedging

Insight / People in the news: CABA, TaxAssist, Iris, Carey Olsen

In this week’s accountancy career moves, CABA names new president, CEO and chairman changes at Iris Software, TaxAssist franchisees anmed, Carey Olsen expands HK legal team, and cloud accountant for Watson Buckle

Insight / Builder jailed for £110k tax fraud

A Bournemouth builder who evaded almost £110,000 in tax has been jailed over unpaid income tax and NICs 

Tax / One in 10 businesses miss MTD for VAT filing deadline

An estimated 120,000 businesses have missed the deadline to sign up for Making Tax Digital for VAT, meaning that technically they should be due a penalty from HMRC

Audit / BEIS clarifies position over Sports Direct auditor

Lawyers from Sports Direct have approached the Department for Business, Enterprise and Industrial Strategy (BEIS) to gain clarity on the role of BEIS following the resignation of auditor Grant Thornton

Tax / Luxembourg moves to introduce hybrid mismatch tax clampdown

The  Luxembourg government is planning to tighten up the rules on use of hybrid mismatches in line with the EU Anti-Tax Avoidance Directive 2 (ATAD 2), which has to be adopted in EU member states by 2020
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