Insight

Insight / Footballer Diego Costa settles Spanish tax allegations

Brazilian striker and ex-Chelsea star Diego Costa, who now plays for Atletico Madrid, is to pay €1.7m (£1.5m) to Spanish tax authorities to settle allegations of non-payment of taxes on image rights

Insight / Accountancy profession targets A level school leavers

With thousands of students around the country receiving their A levels results today and starting to make decisions about their future, the accountancy sector is keen to set out the attractions of building a career in the sector through trainee programmes

Tax / Retailers demand fix to ‘broken’ business rates

The government is under pressure to take action on business rates, with over 50 major retailers supporting recommendations designed to fix what they describe as ‘the broken business rates system’  

Accounting / Companies House London office is moving

Companies House is relocating its London information centre to Westminster this autumn

Tax / HMRC wins £15m Hargreaves Lansdown loyalty bonus case

HMRC has successfully overturned a ruling on the tax status of ‘loyalty bonus’ rebates made by fund management platform Hargreaves Lansdown, with the result that over 150,000 investors are no longer in line for a £15m repayment windfall

Audit / PwC quits as auditor to AIM listed Staffline Group

Big Four audit firm PwC has resigned as auditor of Staffline Group plc, an AIM listed recruitment and training group, and has already stepped down citing concerns over material uncertainty and contractual obligations  

Audit / Grant Thornton resigns as Sports Direct auditor

Grant Thornton has resigned as auditor of Sports Direct, the day after the high street retailer announced its annual results and said it expected the firm to remain in situ for a further year and potentially until 2027, and despite acknowledged issues over selecting a Big Four replacement

Insight / Travel specialist Elman Wall joins Xeinadin accounting group

London-based accounting firm Elman Wall has joined the Xeinadin group of practices in the latest deal announced by the acquisitive group

Insight / Directors banned over £975k in false invoices

Three directors who secured credit by using their companies to submit false invoices to factoring companies have been banned for a total of 29 years

Accounting / M&C Saatchi posts one-off £6.4m accounting charge

Adverting giant M&C Saatchi has revealed accounting issues first identified by external auditor KPMG have forced the company to take a one-off exceptional charge of £6.4m to its 2019 results

Audit / Former US KPMG director jailed over PCAOB tip-offs

Cynthia Holder, one of six accountants accused of tipping off KPMG about upcoming Public Company Accounting Oversight Board (PCAOB) inspections in order to improve the US firm’s audit scores, is the first to be jailed and has been handed an eight-month term for fraud

Insight / Baldwins expands reach with trio of accounting firm acquisitions

Rapidly growing accounting group, Baldwins, has made three significant acquisitions across the UK, pushing the Top 75 Firm closer to nearest rival

Insight / KPMG head of FS consulting forced to leave

Tim Howarth, KPMG’s head of financial services consulting, has been forced to leave the Big Four audit firm following an investigation into allegations of misconduct

Audit / Harper: auditors must help charities manage risk

Charity auditors are well placed to help not-for-profit organisations manage the myriad risks they face, not just financially but also around governance, safeguarding and regulation, argues Steve Harper, charities director at Haysmacintyre

Tax / Brexit pressure forces one-year spending review

There will be a fast-tracked one-year spending review to ensure departments can focus on delivering Brexit by 31 October, the Chancellor has confirmed, as the normal three-year spending review is delayed
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