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Latest News & Blogs

A selection of the latest accounting news and blog posts.

Election Thoughts, and What you can do to Prepare? A Conservative led government plans to maintain the existing income tax rates of while increasing the amount of tax-free income you can earn before they become chargeable, while several of the other parties wish to increase income tax by varying amounts, and on varying forms of income.

Two new partners and directors named at accountancy firm Accountancy and business advisory firm Johnston Carmichael has promoted two staff to partner and another two to director. The firm's Inverurie office head Emma Waterman becomes a partner along with Edinburgh-based Stewart Pennington, who works in the food and drink team.

Why Accountancy Jobs Will Never Lose Steam In every business, ledgers, bank reconciliation statements, profit and loss statements and income and balance sheets present an unbiased picture of the financial position of an organization.

Accountancy body launches apprenticeship scheme for school leavers Employers will pay apprentices the national minimum wage - €19,000 per annum - and offer three week's paid study leave per year during the programme. ATI sources and screens applicants and then refers them to employers for interview. It is currently seeking employers interested in participating in the programme, which will begin on January 14th.

Video: Trust in audit and technology - an Accountancy Age panel debate In this panel debate, guest speakers discuss the challenges faced by the audit industry today while focusing on the lack of trust in audit and technology amid the collapse of many UK businesses that highlighted the absence of government intervention.

HMRC debt collection - long arms! The FTT decision in Ivan Yanev concerns an application for a very late Appeal, ultimately Struck Out. The decision narrates the long story, with Mr Yanev dealing in used catalytic converters, making a lot of money doing so, but failing to register and declare VAT.

Creative accounting: Don't put investors off It almost goes without saying that investors need to have a certain risk appetite. However, if your business lacks sufficient and appropriate controls then investors will either not invest in you, or not invest at a favourable valuation to your business.

Government to fund Ireland women's team through third party The Government is to provide the almost €200,000 in funding that is due to the FAI in support of the women's national team, but the money is to be handled by accountancy firm BDO, with the payment being made on the basis that none of it will at any stage end up in an association bank account.

Podcast: Inside Accountancy Episode 7 - Alternative Finance As accountants take on a more advisory role, understanding alternative finance and how to access it could prove a good method of adding value to a firm.

How SMEs can weather political headwinds Wherever you stand on the issue of Brexit, there's no question that it'll mean uncertainty. Uncertainty not just in local economic terms, but in terms of the impact it will have on your supply chain and income streams as the Sterling gets caught in the crossfire of the UK's political turmoil.

Accountancy firm supports festival in tribute to team members A North West accounting and business advisory firm has shown its support for a charity Christmas festival after the cause provided end of life care to members of its team.

Deadline for health care information statements extended The IRS announced Monday that it is extending the due dates for sending certain health care information statements to individuals as required under the Patient Protection and Affordable Care Act, P.L. 111-148.

FitzPatrick 'at pin of his collar' as he's barred as accountant Former Anglo Irish Bank chief Seán FitzPatrick has "little money" and will struggle to pay a €25,000 fine handed down yesterday, his lawyer told a disciplinary tribunal.

Dear Nick: I just want confirmation of how massively I have messed up The dilemma: I am probably a salutary tale of lack of networking nous and a fear of moving out of my comfort zone. I'm an 'older person', a graduate of languages, with 15 plus years of working in accounts assistant roles. But I finally got my stuff together and studied, sat and passed AAT and subsequently CPA professional exams.

Will the Big Four pull the plug on audit? If you ask the average person on the street what accountants are supposed to do, one of the most common answers will be to audit companies' accounts.

Seán FitzPatrick fined €25,000 and banned from practicing as a chartered accountant Former Anglo Irish Bank chief Seán FitzPatrick was fined €25,000 and banned from practicing as a chartered accountant at a professional tribunal today.

Seán FitzPatrick expelled from accountant association Seán FitzPatrick has been expelled from Chartered Accountants Ireland after a disciplinary tribunal found he had brought discredit on himself and his profession. The former chairman of Anglo Irish Bank accepted an allegation put forward by the CAI's conduct committee in relation to the temporary transfer of loans valued at up to €122m in 2007.

Accountancy and audit profession faces major reform Improved transparency and better public oversight are among the benefits of new EU regulations covering auditors.

New recruits bolster growing accountancy A growing accountancy firm has welcomed three new members to its team. Ulverston-based JF Hornby - twice named UK Accountants of the Year - has appointed the trio to bolster its payroll, admin and general accounting departments. Andrea Kershaw has just joined the team after spending eight years at the Lakeside Hotel.

What happens if a limited company goes bust? If this is the case and your limited company isn't active, you won't need to make outstanding payments, especially regarding business taxes, tax returns, VAT, PAYE and any other considerations that would have affected you if you'd started trading.

Bokio, the Swedish startup simplifying accountancy with AI, raises €4 million round led by Creandum Bokio, the Swedish based startup which utilises artificial intelligence to simplify bookkeeping for small businesses, sole traders, and freelancers, has raised €4 million.

Wilson takes chair at accountancy firm Chiene+Tait Former Scottish Enterprise chief executive Lena Wilson has been appointed chairman of accountancy firm Chiene+Tait. Dr Wilson spent eight years at the helm of the economic development agency before unexpectedly stepping down in 2017.

Accountancy firm brings Lena Wilson on board Former Scottish Enterprise chief executive Lena Wilson is taking on a new role as chairwoman of Chiene + Tait, the accountancy firm has announced. Ms Wilson, 55, spent eight years as CEO of the national enterprise agency before stepping down in 2017.

Former SE chief Lena Wilson to become accountancy firm chair Former Scottish Enterprise chief Lena Wilson has been appointed chair at Edinburgh-headquartered accountancy firm Chiene + Tait. Wilson, renowned as one of Scotland's most experienced business leaders, will add the position to her portfolio of high-profile existing appointments.

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