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 / HMRC targets overseas-based UK landlords not paying tax

Nearly 400 overseas based buy-to-let landlords have disclosed unpaid tax on rental income to HMRC in the last year as the tax authorities intensifies its campaign to net offshore landlords hiding income

Tax / HMRC fails to communicate 30-day CGT payment window

Property sellers are confused about the introduction of a new 30-day payment deadline for settling capital gains tax (CGT) on second and inherited property sales, with complaints about the overly complex guidance and dearth of communications from HMRC. Sara White reports

Tax / Employment allowance NICs 2 threshold reduced

The government is cutting the threshold for eligibility for claims for the employment allowance from April 2020 due to state aid de minimis rules and to remove larger business claimants from the scheme

Insight / CIOT names Whiteman as chief executive replacing Fanning

The Chartered Institute of Taxation (CIOT) has appointed Helen Whiteman as the Institute’s new chief executive, replacing Peter Fanning, who is retiring

Audit / US to overhaul audit evidence rules to reflect blockchain

The US is planning to update the Audit Evidence Statement On Auditing Standards (SAS) to modernise the guidance for auditors to reflect increasing use of audit data analytics, blockchain and artificial intelligence (AI)

Audit / Thomson Reuters acquires Confirmation audit service

Thomson Reuters is expanding its audit offering with the acquisition of Confirmation, a provider of secure audit confirmation services, primarily for banking and financial services

Audit / Grant Thornton invests £7m to rebuild audit practice

In a bid to restore confidence in its audit business, Grant Thornton plans to set up an audit quality board and increase audit staff numbers with a mix of external senior hires and an increase in trainee numbers

Accounting / SFO arrests over Patisserie Valerie accounting fraud

The Serious Fraud Office has stepped up its investigation into café chain Patisserie Valerie with the arrest of five people over the accounting fraud uncovered last autumn

Tax / Payment on account errors delay bills for taxpayers

Problems with HMRC’s IT systems earlier this year and calculations for payment on account mean that some taxpayers will not receive tax demands this July, when they actually owe over £1,000 to the taxman

Insight / VAT carousel traders arrested over €2m drinks fraud

A group of VAT carousel fraudsters involved in a multimillion-euro scam involving the EU drinks market and missing trader intra-community (MTIC) fraud have been arrested across Europe

Accounting / IASB plans to prioritise intangibles reporting under IFRS

The head of the International Accounting Standards Board (IASB) has set out plans for changes to financial reporting under IFRS to reflect the importance of intangibles reporting, create a stricter definition of operating profit and introduce management performance measures (MPM), 

Tax / Majority of SMEs unaware of £1m machinery tax break

Despite a temporary two-year increase in the annual investment allowance (AIA), nearly two thirds of UK SMEs are not aware of the £1m tax break, which has been criticised for being over-complex due to straddling periods

Tax / NHS chief calls for gambling tax to pay for addiction treatment

The head of the NHS has called for a mandatory tax for betting companies to help pay for treatment for gambling addicts

Insight / People in the news: Kingston Smith, PwC, Deloitte, Creaseys, Johnston Carmichael

In this week’s accountancy career moves, partner hires at Deloitte, Kingston Smith and Newby Castleman, non-exec director at PwC, and promotions at Johnston Carmichael and Creaseys

Tax / Inheritance tax waived for Kindertransport compensation payments

The government plans to relax the inheritance tax rules for Kindertransport compensation payments so that affected taxpayers will not be liable for tax on any amounts received from the fund
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