Accounting News


The latest news and blogs to keep you up to date with whats happening in the world of accounting.

Civil service's €47m reform of accountancy system stalls The Financial Shared Services Centre project, a €47m plan to create a universal accountancy system for the civil service, has been delayed by up to two years and has suffered significant cost overruns.

FASB officially delays 4 major standards On Friday, FASB issued two new Accounting Standards Updates that delay many of the effective dates for new standards on leases, hedging, current expected credit losses, and long-duration insurance contracts.

Exchequer Accountancy launches dyslexia-friendly service Exchequer Accountancy has announced the launch of a service tailored to dyslexic clients, with aim to provide user-friendly information, help clients meet deadlines and organise paperwork on their behalf.

Accountancy firm BKL acquires Green and Purple Chartered accountancy firm and tax advisers BKL, has announced the acquisition of accounting firm, Green and Purple. The move has been driven by demand from BKL's clients for "strategic, commercially minded business advice." Green and Purple was founded in 2010 and specialises in chief financial officer led virtual finance office solutions.

Firm opens new dyslexia-friendly tax return service "Her brother is dyslexic and had struggled with his tax return for many years, so we spotted the need for a more inclusive service. The process has opened our eyes to those clients who may not actually be ignoring emails from us, but rather as a result of a learning difficulty, and as such, we've adapted our contact methods.

Ditch the office: Why accountants need to carve out time for themselves After a period of hard work, blood, sweat and tears you've only gone and booked yourself a bloomin' holiday. Just imagine: a week or two away from the hustle and bustle of the office. Your diary is blissfully free of reminders and meeting invites. Your out of office is firmly and smugly set.

This is how to ask for a raise. A student accountant in the US wrote to his senior partner asking for an increased salary. Dear Bo$$ In thi$ life, we all need $ome things m…

West End accountancy firm marks new era with move to Westhill A new era has begun for a north-east business conceived over pre-match drinks before Aberdeen FC games at Pittodrie Stadium. Alan Moir, 61, and Graham Fyfe, 59, discussed more than the ups and downs of the Dons at their regular meet-ups in the city's Hawthorn Bar from the 1970s onwards.

How to Go Self-Employed: Essential Guide from Finance Experts That is all you need to do at this point. You are now on the system as a self-employed worker in the United Kingdom. At the end of the tax year, you will be prompted to submit your return, and you must do so if you don't want to face penalty charges. As with all tax-related processes, there is a caveat to registering as a self-employed worker.

IRS commissioner seeks to enhance taxpayer contacts, target enforcement "We appreciate the value of conservation easements," Rettig said. Lough, the deputy commissioner for Services and Enforcement, added that the IRS was also looking for trends and similarities among the data. Rettig and his lieutenants all invoked the increasing role that data analytics will play in tax enforcement going forward.

The payment services directive - Understanding CASS - Menzies Mike Ayres - Senior Manager. Some abbreviations to start… A company may be authorised as a Payment Institution  or be a Small Payment Institution under the Payment Services Directive 2, a European Directive. To apply the directive in the UK, the Payment Services Regulations 2017  were enshrined in law.

CreDec announces bank-bypassing software for SMEs Operating within cloud accounting software, this Virtual Account system can be linked to any online bank account, allowing accountants and SMEs to make payments directly from their accounting platform.

FHP create specialist property focused accountancy practice East Midlands property consultancy FHP has formed a new specialist property focused Accountancy Practice, FHP Accounting Services Limited.

How to achieve business happiness in 6 steps Business happiness can come in all shapes and sizes and often the key to achieving happiness within your SME is having a BHAG; a big hairy audacious goal. Thinking and forward planning will help create a logical and direct route to achieving your BHAG and make your company a happy one.

Navigating MTD changes and stress with technology As HMRC rolls out new MTD requirements, some firms are taking the opportunity to overhaul their technology—but is that tech leading to added stress?

How to reduce a silly amount of share capital Enthusiasm may have got the better of you when you formed your limited company resulting in an enormously silly amount of share capital being set up and allocated to you. When you form a company you provide a statement of share capital which details the shares that have been issued to, what is known as, a subscriber or shareholder.

Election 2019: Accountant badly needed to audit manifesto pledges Judging by his efforts over the weekend, Chancellor of the Exchequer Sajid Javid is desperately in need of the services of at least one accountant and quite possibly a whole team of them.

North East accountancy firm propels growth with branch expansion A North East accountancy firm has recently opened its latest office as part of its ongoing growth strategy. Stuart Hall and Co has opened a new base in Stockton as well as increasing its workforce as part of its wider expansion plans.

How to grow your accountancy practice Find out how linking with an IFA can support your clients and drive growth for your practice, with our guide in partnership with Pareto Financial Planning.

Accountancy body to begin disciplinary hearing of ex-Eskom, Transnet CFO Anoj Singh Singh, who has denied being involved in corruption, faced 18 charges of misconduct relating to his conduct at Eskom and Transnet.

It's not you, it's me: How to break off client relationships "Whilst we might be tempted to put up with a bad client-advisor relationship because of finances, or even not wanting to create tension, if the thought of dumping a client is going through your mind, then you should really dig deep into the reasons why you shouldn't do it," Reader continues.

Mixed up about mixed use? The decision in Hyman was published just a couple of weeks after HMRC updated their guidance on what is garden or grounds, which will be useful to anyone advising on the potential for mixed use. This updated guidance can be found from SDLTM00440 onwards.

How to extend your filing deadline HACK - Limited Company Accounts for a Limited Company have to be filed at Companies House 9 months after the end of the financial year - unless it's the first year when the filing deadline is 21 months after the date of incorporation. Often this is sufficient time to get things in order, do the necessary bookkeeping and file the accounts at Companies House.

Key cybersecurity issues for accountants FW: In the old days, cybercrime was largely the realm of errant teenagers sitting in their bedrooms hacking into private, corporate or institutional servers for fun, just to see if they could do it. These days, cybercrime is far more organised. The Dark Web is thriving and one of the key items for sale is people's personal data.

Big four accountancy firms keeping Julie Bishop busy, and loaded At $15,000 per speech, the former foreign affairs minister is putting her money where her mouth is.

Accountancy evolution: How to futureproof your practice Smart Property Investment. SMSF Adviser. The Adviser. Wellness Daily. Which Investment Property. Space Connect. Australian Law Awards. Corporate Counsel Awards. 30 Under 30. Partner of the Year. Women in Law. Future Forum. Better Business Summit. Australian Broking Awards.

DIY claims - tougher HMRC policy? VAT Regulation 201 provides that a DIY claim must be submitted within three months after completion of the building. The claim has to be accompanied by "a certificate of completion obtained from a local authority or other such documentary evidence of completion of the building as is satisfactory to the Commissioners".

8 top tips for your self employed tax return Completing your self employed tax return can be a bit of a pain at times. Here's some quick tips to make the whole process a little easier. If your income from your business is £1,000 or less, under the Trading Allowance rules, you do not need to inform HMRC that you're self employed.

Are you keeping your clients' data healthy? We have all seen them and heard them. There are adverts on the television, radio, in newspapers and even the underground encouraging businesses to move to a cloud accounting software package.

Limited Company - How to calculate working from home expenses Emily Coltman from FreeAgent explains how to calculate the cost of using part of your home as your office, if you are a director of your limited company. This blog has been provided by FreeAgent. View the full image at FreeAgent.

EY to team up for campaign against domestic abuse EY, along with Norton Rose Fulbright, Gowling WLG, and Team London Bridge have teamed up with the local police to launch a campaign aiming at promoting action against domestic abuse.

Top 50+50: Are firms investing more in technology? This year's Top 50+50 Ranking survey sought to find out if adoption of technology is increasing across the UK's leading practices - and how much investment is being made in the latest tech. These figures clearly show that tech investment is increasing - and the number of practices investing in technology is accelerating.

Retail woes: Store closures after Mamas & Papas sale Accountancy firm Deloitte said yesterday it had sold Mamas and Papas Retail to private equity firm Bluegem Capital Partners, leading to the closure of six loss-making stores and 73 job lo.

Tracey Ruiz of Novato's Martz Accountancy wins 2019 Latino Business Leadership Awards Martz Accountancy Corporation. 75 Rowland Way, Suite 220, Novato 94949. www.martztax.com. Find out more about the other 2019 Latino Business Leadership Awards winners. Staff: 6. Professional Background: Firm Administrator, Martz Accountancy Corporation - 2013 to current.

Automatic accounting method change procedures updated 1.446-1, unless otherwise provided, a taxpayer must secure the IRS's consent before changing its accounting method. To obtain the IRS's consent, taxpayers file Form 3115, Application for Change in Accounting Method. Even when the IRS's consent is not required, taxpayers must file Form 3115.

KPMG signals innovation scale-up with Axillium KPMG is collaborating with Axilium, an innovation and investment agency, to increase business investment in research and development. Based in the Midlands, Axilium was established in 2008 to guide businesses through the innovation process from early stage of R&D to delivery.

The New Sra Accounts Rules - What You Need To Know And Our Recommendations In line with GDPR, there will be another big change to the legal sector coming into play yet again on the 25thday of a month! The new SRA Accounts Rules come into force on 25thNovember 2019, along with ongoing and continued associated guidance notes from the SRA.

Podcast: Inside Accountancy Episode 6 - The future of MTD In the latest episode of Inside Accountancy, Andy Dancer, CTO of Tax Systems, talks to Accountancy Age reporter, Tom Lemmon about what to expect as Making Tax Digital moves into its next phase. MTD for VAT is surely just the first step in the digitalisation of the UK tax regime as demands for increased tax transparency increase.

Can I claim eye tests and glasses as a business expense? Can I put these through my company as a business expense?" HMRC have very specific rules around glasses or contact lenses and whether they can be put through your limited company accounts as an allowable business expense. First of all, let's look at the question of eye tests, as the rules around them are fairly simple.

Can you claim VAT on pool cars? - VAT Advisory - Menzies When is a pool car, not a pool car and can you claim VAT back on it? We explore a recent HMRC tribunal ruling and explain how to claim VAT.

Reasonable excuse - failure to register We still see a number of instances where a SME has failed to register for VAT on time. The FTT decision in MacDonald provides a fairly typical example. The taxpayer was an artist, selling original work in the UK, EU, and outside the EU. He was pleasantly surprised that he became quite successful.

Are you an email addict in need of rehab? One of the big daily goals most accountants have is to clear their emails and incoming messages and reply to everyone quickly and efficiently. As I went around the UK speaking at the IRIS Autumn roadshows, it was evident that it is not just email that's the problem.

There's no such thing as free advice A doctor and an accountant were seated together at a formal awards dinner. The accountant watched bemused as the guy sitting on the other…

Back to work again It's been ages since I last blogged about anything. I've started writing a few and drafted a few but never got round to finishing or posting it anywhere. So I think a catch up is long overdue. After finishing my last job, I realised that I enjoyed working in an office but I did specifically want a part-time job.

IFAC seeks consistency, accountants' engagement in corporate reporting As currently constructed, the corporate reporting system does not help organizations to communicate effectively or enable stakeholders to easily understand companies' ability to create sustainable value over time, according to the International Federation of Accountants.

Challenger firms find FTSE 350-adjacent niches before CMA rule changes On the heels of industry overhaul, some challenger firms have found audit-focused success within FTSE 350 companies, potentially indicating greater change.

Interview with Carbon Accountancy's John Leyden Founded in 2001, Carbon Accountancy is a London-based accountancy firm that works with a variety of clients; including individuals, start-ups, SMEs and larger companies. The firm guarantees fixed prices, alongside its straight-talking approach, which ensures that all clients receive clear and concise advice.

Tech Review: Logitech MX Keys Advanced Wireless Illuminated Keyboard Having gone overboard on the MX Master 3 mouse, it is pleasing to report that the companion keyboard launched by Logitech at the same time is also a great asset for any home office. The goal was to find a wireless keyboard that could make working on a laptop more pleasurable and, ideally, reduce the risk of physical harm through RSI.

Under Armour facing SEC, DOJ accountancy probes Following disclosure of the federal government's investigation into allegations of sales manipulation dating back to 2017, sports apparel company Under Armour maintains its accounting practices are "appropriate."

IRS posts 2020 inflation adjustments and tax tables 179 amount for tax years beginning in 2020 will be $1,040,000 with a phaseout threshold of $2,590,000, slight increases from 2019. The qualified business income threshold under Sec.

Retirement plan contribution limits increase for 2020 457 plans, and the federal government's Thrift Savings Plan will increase from $19,000 in 2019 to $19,500 in 2020. The catch-up contribution limit for those 50 and older will increase to $6,500 from $6,000 in 2019. Most other inflation-adjusted amounts related to pensions will increase from 2019 to 2020.

My, how Xerocon has grown Anyone who has kicked around the accounting software scene for a while will recognise how Xerocon has become the biggest date in the UK accounting calendar - three days of turquoise, ledgers and APIs. Now in its eighth year, Xerocon UK has even grown its own fringe of satellite events and pre-show cocktail parties.

Doodling could change your firm Having always been fascinated by human psychology and interactions, and what makes humans behave the way they do, the Polish entrepreneur fused both ideas together and found a focus for her business: helping companies express ideas and engage with their audience using visual storytelling.

How audit committees can improve disclosure The percentage of audit committees providing public disclosure on many key metrics has increased in recent years, but opportunities for greater transparency remain, according to a yearly report published Wednesday by Audit Analytics and the Center for Audit Quality, which is affiliated with the AICPA.

Watchdog says accountancy firms failing to challenge management of firms they audit Audit watchdog the Financial Reporting Council today warned that the top firms were failing to be robust enough in challenging management of the companies they audit. The audit sector is in the political and regulatory spotlight following company failures such as the collapse of travel agent Thomas Cook and outsourcer Carillion.

FRC reveals key trends in U.K. accountancy profession 28, 2019, reveals that the Big Four increased their combined "total fee income" by 4.7 percent to £10.95 billion and "audit fee income" by 1.7 percent to £2.1 billion, according to the FRC. By contrast, total fee income at non-Big Four public-interest entity audit firms fell by 8.1 percent and "audit fee income" fell by 6.3 percent.

MGI Worldwide and CPAAI announce merger MGI Worldwide, the global accountancy network headquartered in the UK, and CPAAI, headquartered in the US, have just announced that they will be merging on the 1st of January 2020 to form a new association around the world, which will include 257 members.

What is the real rate of change for your practice? This first issue is the speed of development of new technology intended to make life easier for accountants and for their clients. When you've been part of and then reporting on the profession for as long as I have, you have to accept that the pace of such change we are now seeing is faster than ever before.

UC San Diego Master of Professional Accountancy - MetroMBA Recent figures showed that 34 students are enrolled UC San Diego Master of Professional Accountancy class, with 41 percent identifying as male and 59 percent identifying as female. The average student age is 23. The Rady School Career Management Center provides students with a network of support as they pursue their post-graduation career goals.

How to optimise your compliance lifecycle Compliance has become a tick-in-the-box commodity, rather than a service. Many accountants are therefore reviewing how they handle their compliance work and trying to identify opportunities to improve efficiency. Leveraging digital technology will be the way to stay ahead of the competition.

New ACCA policy report places focus on corporate transparency The ACCA has revised its global policy on the taxation of companies, encouraging accountants to hold companies to account for evasion and tax transparency.

Dear Nick: 'I need to disengage a client with serious mental health issues' The dilemma: My client inherited some money when his father passed away and that seems to have been the catalyst for his problems. Since then he has embarked on a series of get-rich-quick schemes, bad investments and bad choices of business partners.

Accountancy firm hails growth Accountancy firm Stuart Hall and Co has expanded its team and branch network. Set up in 2009, the Bishop Auckland-headquartered firm has grown to 16 members of staff, operating from three branches.

R&D Tax Relief, R&D Tax Credit - Know it all R&D Tax Credit rewards innovation and drives progress and has the power to transform businesses. Here is how companies can make the most R&D Tax Relief.

Accountancy firm announces new partnership with Durham Cathedral A NORTH-East accountancy firm has announced a new partnership with Durham Cathedral.

100% pass rate for accountancy apprentices Telford College is celebrating after accountancy apprentices achieved a 100% pass rate in their latest exams. Every learner passed the costing module of their management accounting level three course with flying colours. Accountancy tutor Jitendra Maini said: "This is a proud moment for all of us.

Accountancy watchdog warns auditors in wake of Thomas Cook collapse Britain's accounting watchdog has criticised auditors for failing to challenge management when scrutinising company accounts, following a series of major corporate failures such as Thomas Cook and Carillion.

First in Ireland for Accountancy Trainees Leah and Alan Newry.ie News and views from Newry City, Ireland with event guide, old photographs and video. Newry is centrally placed and a perfect base for exploring the Mourne Mountains, Ring of Gullion and Carlingford Lough areas.

Bespoke website for Blackburn accountancy firm Preston-based digital agency Bespoke has won the contract to deliver a new website, digital marketing and mentoring for Pierce Accountants. Pierce was established 1929 and is a business advisory and accountancy group based in Blackburn, employing 65 people.

Tax hikes on the way I hate to be a prophet of doom but unless I'm missing something, it seems inevitable that before too long some of us are going to be paying a lot more tax. It doesn't even matter who wins the election.

Why accountants should be mindful about financial wellbeing But what is 'financial wellbeing'? "Financial wellbeing is a sense of security and the knowledge that you have enough money to meet your needs," Day said.

What is cashflow & three-way forecasting - Why is forecasting important? Find out more why cashflow and three-way forecasting is important to businesses and our five top tips to create your own three-way forecast.

Late Appeals & Applications The Subway London Ltd decision contains a lengthy section of how the Tribunal should consider late Applications and Appeals. It is a useful resource. It refers first to the Upper Tier decision in Martland. This decision has become the standard test for the FTT in considering late Applications and Appeals.

Accountancy Age 35 under 35 2019 - entries open! Entries are now open for the Accountancy Age 35 under 35 2019 ranking. The ranking will spotlight the brightest young talent in the accountancy sector and feature those who display innovation and dedication to lead the way and transform their respective fields.

Tax Rates 2019/2020: Simplified Guide For Business Owners - RS Blog RS Accountancy explains matters in simple terms. If you operate a small business, you will have to pay tax. How much tax you owe depends on a variety of factors, but these factors always translate to different tax brackets. A tax bracket is a rate of tax payment your business falls into, calculated by profits generated.

Global Accountancy Software Market Insights, New Project Investment and Potential Growth Scope The Global Accountancy Software Market Outlook Report is a comprehensive study of the Accountancy Software industry and its future prospects. The global market size of Accountancy Software is $XX million in 2018 with XX CAGR from 2014 to 2018, and it is expected to reach $XX million by the end of 2024 with a CAGR of XX% from 2019 to 2024.

Accountancy and Finance Professionals Accountancy and Finance Professionals in Fully qualified, Accounting Practice, Accountant with Pier Recruitment. Apply Today.

Author Liam goes back to school 'Pretty Perilous Parakeet' by L.G. Cunningham is available from www.amazon.co.uk. The Argus.

Royston and Barley firms react to becoming Herts Business Awards finalists On being shortlisted, John said: "When I started the business I had to idea that my two sons and their families would join me in the business, I just got on with it, but now we've grown and it's the first time we've entered a competition like this.

Re-clench for MTD 2020: Three major changes Now it's the end of the 'soft-landing' in April 2020, and time to prepare for the three major changes: digital bookkeeping, digital journey and, the clincher, penalties. It is this April 2020 phase that will cause the issues. How are the three reforms going to affect over one million VAT registered businesses in 2020?

Lamont Pridmore named in UK's top 100 accountancy firms Staff and partners at Cumbrian firm Lamont Pridmore are celebrating after being named in the UK's list of top 100 accountants. With eight offices across Cumbria, Lamont Pridmore is the only independent firms of its kind based exclusively in the region to make the Top 50 + 50 list, prepared by professional publication Accountancy Age.

Top 50+50: is diversity in firms improving? "As a firm that recruits approximately 4,000 people each year, ensuring that new joiners feel comfortable in disclosing their ethnicity data is critical to our ability to determine actions and measure their impact; thus, this year we have also embarked on work to encourage such disclosure at the time of entry to the firm." Join us to discuss the...

Study finds happiness disconnect between accountancy bosses and staff A study has found that accountancy bosses think their staff are happier than they are, with 84% thinking their staff are happy compared to just 64% of staff saying that they are.

Is this the best non-reference given when an accountant moves to a new job? Many years ago I was told this was true story by John Newth, when he was Deputy Editor of Taxation magazine. Herbert had worked for a well…

Dealing with conflict at your firm Many of us have experiences working for bad bosses. One of my former editors at the BBC stuck a post-it to my back which read "I am Satan's Mistress" so I'm no stranger to poor behaviour myself.

Transform your interview performance CABA worked with Behavioural Psychologist Richard Jenkins on how adapting your behaviour before and during an interview can transform your performance.

Stop listening and do something! "Compliance is often viewed as a prevention mechanism, but the actual ethos of why that compliance sits there is usually good intent," Hamm says. "Organisations want accounts to be registered, not just because it makes information publicly available, but because there's a lot you can learn in that process.

Nov 2019: Politics back on accounting agenda Accountants have not been able to avoid the big, political issues facing business this autumn. John Stokdyk offers some advice on keeping focused during a period of unprecedented turmoil. After a quiet couple of months, Brexit is back on the agenda, racking up more than 20,000 hits in October.

Tax Horror Stories - Halloween Business Tax Services - Menzies Our next tale has a bit of a ghastly twist as we delve in to the self assessment graveyard. John Doe has previously filed a 2014/15 return for rental income. All was going well until a nightmare employment income oversight turned a four figure tax rebate into a tax payment!

What does the IOF mean for companies? There are already more than 10 different ways of distributing actual equity to employees, from HMRC-approved EMI schemes and EOTs to growth shares and unapproved options. I've recently seen a huge uplift in understanding of employee share ownership by employers and I've seen first-hand what a powerful force for good it can be.

EY accountancy firm accused of facilitating money laundering by drug traffickers One of the Big Four accountancy firms, formerly known as Ernst and Young, has been accused of serious money laundering related to drug trafficking in the UK and other European countries, according to the BBC.

How to register a company name Registering a company is the starting point in business ownership. How you choose to do this is ultimately based on the chosen business structure.

Can directors be personally liable in a limited company? Profits are likely to be spread throughout the company, distributing wealth to all of its workers, but another matter is working out if directors and other key members of the business are liable to repay hefty fees if the company doesn't possess the necessary funds itself.

The Accountancy Solutions in London is Most Visited for Getting Financial Processes in Order London based finance management company, The Accountancy Solutions, is visited more by the businesses today to get their financial processes in order. The company is serving businesses from everyday bookkeeping to year-end tax returns. Its skills, knowledge, and experience are delivering a seamless accounting service.

Partner performance evaluation and management in accountancy firms Setting clear and measurable KPIs that are aligned with the firm's strategy and culture ensures that partner contribution and performance can be assessed against the firm's behavioural, financial, client, staff and management expectations.

FASB debt classification reproposal sparks concerns FASB’s attempts to simplify the classification of debt in a classified balance sheet may have unintended consequences, according to a comment letter sent by the AICPA Technical Issues Committee.

Accountancy faces up to digital disruption Automation, Artificial Intelligence, the Internet of Things, Blockchain and cloud computing — the full integration of financial information and vetting systems are increasingly leaving human intervention out of the equation — including the manipulative tactics of some.

How to add value to your tax return offering Despite often being considered the bread and butter for accountancy firms, the value you as an accountant offer your clients by completing their tax returns should not be understated, and therefore the service you offer should not be undervalued.

Podcast: Inside Accountancy Episode 5 - Can technology solve the audit crisis? In the latest episode of Inside Accountancy, Accountancy Age's reporter Tom Lemmon talks to Simon Cleveland, UK Public Policy and Regulatory Lead at Deloitte, and Katie Canell, Managing Director, UK Audit Innovation at Deloitte, about the role technology could play in solving the audit crisis.

Succession options for residential property investments What are your succession options for residential property investments? Read about how a Family Investment company and Trusts can help.

Panorama alleges EY money-laundering cover-up Last night's episode of Panorama on BBC1, which made allegations about a money-laundering cover-up by EY, was shocking. It was alleged that after being asked to carry out a compliance review of Kaloti, a major Dubai organisation, EY had failed to comply with money-laundering obligations and deliberately covered up those failings.

Future Focus: How strong and evident are your human qualities? Related Posts:Don't write off AI. Embrace it. And prepare for the…Will accountants be affected by AI in the same way…This is the problem for medium sized firms of accountantsWhat are you doing about your clients' uncertainty…What do you mean when you talk about the 'Rise of…Ten reasons people think accountants are boring…

3 ways your finance team can save hours with RPA We would all like to save time, wouldn't we? Whether that's at work or home, we want to spend less time doing the stuff we dislike and more time doing what we love. It's perhaps easier to take this approach in our personal lives. But what about in a professional capacity?

CIMA releases updated code of ethics for 2020 The world's largest body of management accountants - The Chartered Institute of Management Accountants - has updated its code of ethics to help finance professionals navigate ethical and independence challenges in the modern, digital business world.

IFRS 16 - The impact on business valuations Henri Heinola is Senior Valuation Consultant at Globalview Advisors, an independent financial advisory firm focused on intangible asset and business valuations for financial reporting and tax purposes.

Tax points in the construction industry Most tax points fall within either the usual 'Basic' or 'Actual' categories. VAT Act 1994, s6 provides for these. But VAT being what it is, there are numerous exceptions. And one covers services in the construction sector. This was highlighted in a case back in 2004.

British accountancy firm Ernst & Young 'used black market gold to launder dirty money' Ernst and Young allegedly failed to report evidence of smuggling, according to an investigation by BBC Panorama and the French news agency Premieres Lignes. The crime gang were said to have collected cash from drug dealers across Britain and Europe before laundering it by buying and selling black market gold.

How to retain talent with continued learning The world of accountancy is evolving and it's no longer a numbers and money-orientated business. The dynamics have changed with the use of digital technology in the sector and there is now greater emphasis on continued learning to avoid becoming marginalised.

Make sure you Christmas Party is tax deductible! Is it too early to mention the "C" word? Hopefully it's not too early for us to share our advice on how to make sure that your Christmas Party is allowable for Tax. Follow these simple rules :. If you meet the above criteria then it is allowable for tax without any Benefit in Kind implications.

Mothercare brings in restructuring experts from accountancy giant KPMG The struggling High Street retailer, which fell to a £36.3m loss and shut 55 stores last year under a controversial company voluntary arrangement, has been trying to sell its UK arm. The company is now considering closing more stores or asking landlords for rent cuts, but a sale is believed to be preferred, The Sunday Times reported.

India - Busting some commonly believed myths around Chartered Accountancy Chartered Accountancy is one of the most sought-after and toughest professional courses in the country. The Institute ofChartered AccountantsofIndia provides the three-level CA program comprising Foundation, Intermediate, and Final courses. However, many people have a lot of misconceptions about Chartered Accountancy.

FAI bosses say financial records under previous board 'won't be pretty' as association awaits accountancy reports HALLOWEEN is next week but the FAI believes its own shock and horror show is just around the corner in November.

3 EASY and CHEAP ways to keep your accounts Staying on top of your finances is super important when you're self employed either as a sole trader or a director of your own limited company. You need to know if you're making a profit, how much you need to put aside for tax and what's left for you to take out of the business.

FRC releases revised UK Stewardship Code The new UK Stewardship Code launched by FRC, which will be effective on 1 January 2020, shows the changing requirements for investors by addressing wider problems for businesses. It focuses on sustainable and responsible investment and stewardship which highlights its higher standard in comparison to the 2012 revised version.

Comment: Social Impact of losing trust in audit Should joint audit come into effect, and as the mid-tier firms begin to audit larger companies - such as RSM becoming Sports Direct's auditor - they have an opportunity to lead the way in changing this culture.

Connecting with Innovate UK I experienced first-hand the value of my network when one of my existing contacts introduced me to Innovate UK's regional manager for London and the South East, Mr David Legg. Recognising the help and support Innovate UK can offer the manufacturing industry, I wasted no time posing some questions to David.

People Moves: Deloitte, AAT, Quantuma and more Firms across the UK have appointed new directors, partners and financial officers, including Deloitte UK, Sayer Vincent and Cooper Parry.

VAT registration and TOGC I have come across a few questions about this issue recently. The VAT registration threshold is currently £85,000. This is the value of taxable supplies made over a rolling 12-month period. When a person takes over another business as a TOGC the rule applies slightly differently.

Autumn Budget 2019 For all the latest news and opinion, visit our news page or our blog We've sat down, ignored the political posturing and have digested today's Budget statement to focus on the key areas that will impact your business and personal wealth. Read on to understand which of today's announcements will have the biggest impact.

Attack of the Cybermen One of the main threats facing the Not for Profit Sector is the risk of Cybercrime. With more and more activity taking place online, the scope for malicious attacks increases.

Who came came first? The accountants or the tax inspectors? An accountant and a tax inspector were having a drink and a chat away from their respective offices. They started discussing who was part…

Can mid-tier firms restore trust in audit? With joint audit - a system that would force Big Four firms to partner with smaller, mid-tier firms when auditing large businesses - being seen increasingly as a viable option, can mid-tier firms lead the way to meaningful change?

Sports Direct appoints RSM as new auditor Following Grant Thornton’s resignation, Sports Direct has assigned RSM as its new auditor, a decision which comes after the big four refused the invitation.

Haines Watts strong year of growth I'm delighted to once again report a really strong year of growth for Haines Watts in which we've seen the firm rise one place in the Accountancy Age Top 50 firms to be the 12th largest firm in the UK. This year sees us recording a second consecutive year of double-digit growth taking Haines Watts to a £96m turnover group.

Free the accountants! We've all heard all the cracks about accountants: we're boring, we're annoyingly obsessed with tiny details, we're bean counters. With our tedious controls and processes, we get in the way of more interesting people doing more interesting things.

ASB addresses compliance with GAAS, PCAOB standards The AICPA Auditing Standards Board issued a new interpretation Wednesday that provides guidance on how an auditor complies with AU-C Section 700A, Forming an Opinion and Reporting on Financial Statements, in the AICPA Professional Standards when the communication of critical audit matters as described in PCAOB standards is required.

News quiz: Kids' allowances and investor confidence Surveys offer insight into how much allowance children are getting these days and into how investors perceive audited financial statements in U.S. markets. See what else you know about recent news with this short quiz.

OTS provides timid solutions to tax complexity The Office of Tax Simplification produces worthy reports suggesting ways the tax system could be simplified. They are a realist organisation, concentrating on identifying the "quick wins" that can be put in place with minimum effort and resource. However, I really wish they would stop being a mouse and try roaring like a lion.

How Much Can You Earn Tax-Free While Self-Employed? Want to know how much you can earn tax-free as a self-employed worker? We explain not only what the threshold is, but also ways to save.

WeWork and the cult company fails capitalism WeWork managed to pull the wool over the eyes of investors for too long. It was plain as day follows night that they were not a tech company but an office rental firm, just another short term flexible office rental firm, perhaps with a slight USP of the appeal to high tech start-ups and the geeky feel they tried to foster at their sites.

Financial satisfaction stays high, but economic concerns remain Americans' personal financial satisfaction remains high, but it continued to edge lower in the third quarter of this year, according to the AICPA Personal Financial Satisfaction Index, a quarterly economic indicator that was released Thursday. In the third quarter of 2019, the PFSi stood at 37.3, a 1.4-point drop from the previous quarter.

Guidance provided on SAS No. 134 implementation The AICPA has issued a new Technical Question and Answer to provide nonauthoritative guidance on implementing the AICPA Auditing Standards Board's new standard on auditor reporting.

Accountancy firm HURST launches specialist digital team Accounting and business advisory firm HURST has created a specialist digital team to help companies improve their performance and efficiency by making the most of technology.

Does Pizza Express have enough dough? I'm guessing most readers have either visited or at least have heard of Pizza Express. After all, they are on pretty much every high street across the country.

Accountancy profession in MP's crosshairs during Thomas Cook inquiry Big four firms PwC and EY, and the accountancy profession as a whole, has come under heavy fire from MPs during the inquiry into the collapse of Thomas Cook, with both firms being accused of having been "complicit" in the travel firm's collapse.

How can finance directors prepare for Brexit? As Brexit looms ever closer, the political climate is still rife with uncertainty. With so many unanswered questions still lingering in the air, businesses and consumers alike watch on as Prime Minister Boris Johnson attempts to make progress.

April 2020 Capital Gains Tax Changes - Property Tax Advice - Menzies Find out how the incoming Capital Gains Tax changes from April 2020 might impact the UK property sector and how not to get caught out.

Staying in control of hidden FX costs It also found that the number of companies less than two years old to have exported in the last year had increased by a hefty 19.9% to 47,000, indicating how start-ups and new businesses are increasingly likely to be focused on expanding into international markets, even very early in their business journeys.

How to become a sole trader If you choose to set up your business as a sole trader, you need to consider different factors than you would with a limited company, as each are structured in completely different ways and both carry their own positives and negatives.

Brexit: Going, going concern, gone While writing my series on the impact that Brexit might have on the accountancy profession, one issue that appeared to be of major significance was the prospect that we might need to recalibrate our views on going concern completely.

Training provider welcomes accountancy expert and former apprenticeship employer aboard A leading north east training provider has appointed an accountancy expert and former apprentice employer to train the next generation of accounting technicians. Award-winning training provider Access Training, based in Team Valley, has employed Andrew Houghton as a learner advisor delivering the assistant accountant apprenticeship.

Exclusive: Top-40 accountancy firm launches ABS Top 40 accountancy firm Streets has become the latest to add legal services to its offering with an alternative business structure licence. It has set up Streets Law, headed by Adam Aisthorpe, a corporate / commercial solicitor who has been recruited from Lincolnshire law firm Wilkin Chapman.

AI in Finance: The Predictions By Richard Sampson, SVP EMEA, insightsoftware.

The rise of the challenger Why are accounting firms like Nyman Libson Paul increasingly turning to “challengers” like OakNorth Bank to help clients find funding solutions?

Sir Ben Ainslie's America's Cup challenge backed by SW accountancy firm A British sporting challenge involving the country's greatest sailors, including Olympic gold medallists Sir Ben Ainslie and Giles Scott, is being backed by a South West accountancy firm. PKF Francis Clark has been named as the Official Supplier of accountancy services to INEOS TEAM UK, the British team for the 36th America's Cup.

Green business tax incentives - Environemental responsibility - Menzies Did you know there are tax savings for planet savers? We explore how environmentally responsible business can access green tax reliefs.

Barclays teams up with accountancy funding platform and small business lender to offer instant quotes for SMEs Capitalise.com says tie-up marks first time businesses can get instant decisions on funding from a mainstream bank. Barclays has teamed up with a funding platform for accountants and a small business lender to offer "instant funding quotes" for small and medium enterprises.

Accountancy firms lagging behind business on diversity Research by the Financial Reporting Council has shown that the audit and accountancy profession is lagging behind business for the diversity of senior management teams.

What might happen if a Brexit deal is agreed this week Towards the end of last week, Prime Minister Boris Johnson was confident that a deal was on. He was clear, all that was needed was for Parliament to sit on Saturday for the first time in 37 years, and he sounded confident that he had the cross-party backing he required.

What is an EMI options scheme? - Benefits of EMI schemes for businesses An EMI is an enterprise management incentive scheme. These schemes are open to most trading companies and give owners a way to offer their management team and employees options to own shares up to a market value of £250,000.

A dozen fallacies accountants should not accept at face value Related Posts:How do you allow clients to communicate with you?Why do accountants need to be enthusiastic?The key change that can reduce your clients’…Why do you want to promote your firm?The fallacies of focusing on technical skills“None of my clients want anything more than…

Accountancy profession 'complicit in Thomas Cook failure' The chair of an influential parliamentary committee has launched a blistering attack on the accounting industry, accusing it of being complicit in the failure of Thomas Cook, Carillion and other firms and called for urgent reform of the sector.

Women make up 17% of partners at accountancy firms The audit watchdog has criticised the lack of diversity at accountancy firms, where the overwhelming majority of partner-level roles are "held by white men". Women make up only 17 per cent of partner-level roles, according to research by the Financial Reporting Council.

Stop spoon-feeding staff and address the problem Two new people have joined our team in the past few weeks and when I spotted that Tickers was having some trouble training his team up in his post "When it comes to staff, is the problem me?", I gave our induction process some thought to see how I might be able to help.

Is phone addiction bad for health and productivity? If any of us discovered that a member of staff or, even worse, one of our fellow partners had a problem with drugs, alcohol or gambling, I have little doubt that we would take precipitate action.

Develop your career plan: Step by step approach For more career development advice and support, or to develop a tailored career development plan with one-to-one support from a professional career coach, visit CABA's careers site cabacareers.org.uk. CABA is the charity that supports the wellbeing of past and present ICAEW members, ACA students and their close families, around the world.

Accountancy sector lagging behind business on diversity says watchdog The accountancy and audit profession is lagging behind business when it comes to the diversity of senior management, new research showed today. A report by audit watchdog the Financial Reporting Council found a massive drop off between women at manager level and partner level at accountancy firms.

India - #CareerBytes: Telegram Channels for Chartered Accountancy exam preparation Chartered Accountancy is one of the most sought-after and toughest professional courses. The Institute ofChartered Accountantsof India provides the three-level CA program. CA is very challenging and cracking it isn't easy without the right preparation.

Hmrc R&d Tax Credit Statistics 2019 Anthony Lalsing - Head of innovation and R&D. The statistics in HMRC's Research and development tax credits statistics report are largely positive, increasing R&D claims demonstrating more innovative businesses than ever are making claims across a wide range of industry sectors.

Nexdigm Bags Two Awards at the 8th Digital Accountancy Forum and Awards 2019 - London Mumbai, India, October 19, 2019 - - Nexdigm won awards in two categories - Advisory Project of the Year and Young Accountant of the Year at the 8th Digital Accountancy Forum and Awards 2019 which took place at the Waldorf Hilton in London.

HMRC's emails and calls could land you in hot water Vigilance in all spheres of life is paramount, from dealing with the bank to buying a concert ticket. It is no less a requirement in the performance of operational tasks when running a business - some of which will also minimise the chances of scrutiny from regulatory bodies such as HMRC.

Job Vacancy: Letterkenny Accountancy Practice seeks Qualified Accountant A Letterkenny accountancy practice is seeking a qualified accountant for an immediate start. Our rapidly Growing Practice has a fantastic opportunity for an energetic and pro-active professional to join an exciting and fast-growing Letterkenny based accountancy practice.

Accountancy firm names two new partners and four directors for team in Scotland Accounting and advisory firm Mazars has announced the appointment of two partners and four directors to its team in Scotland. Jennifer Allison and Neil Strong are promoted to become tax partners in Edinburgh and Glasgow respectively. Allison joined the firm in 2014, specialising in tax advice for entrepreneurs.

Firms to become futureproof if hiring dyslexic individuals, report says A new report led by EY and the charity Made By Dyslexia shows that firms can help futureproof their workforce and tackle the digital skills gaps by broadening their talent pools and hiring dyslexic individuals.

People Moves: RSM makes Global appointment, Mazars expands in Scotland and more The new appointments are:. Accountancy practive Price Bailey has made four more senior-level promotions including Sarah Pool to Director and Stephanie Lloyd, Gemma Thake and Louise Fox to Senior Manager with effect from 1 October 2019.

Accountancy firm acquires new Melton Mowbray offices Melton Mowbray based TC Group is expanding into new offices and has extended its service base to include financial services and legal services. Its Melton Mowbray office employs 10 staff and has a diverse client base, ranging from farms to software and engineering firms, recycling and international businesses.

What you never want to hear clients say during an audit Me: your employees aren’t providing me with the support I’ve been requesting Client: I’m having the same problem - Me: we haven’t recei…

Accountancy appoints two partners A Newport-based accountancy firm has appointed two new partners to its board after strong growth and consistent client wins. HSJ Accountants has appointed Andrew Hill and Natalie Staples-Vvind as Partners after both accountants showing tremendous dedication to the business and appetite for success.

Is VAT simplification still on the government agenda? A distant relative who lives on the south coast is a town councillor. He is also very straight-talking. When he learned that my two main business activities are consultancy and writing, he commented: "You should see our council offices.

ICAEW appoints new Vice President for 2020-21 Julia is an audit, accounting and anti-money laundering technical specialist and has previously worked at organisations such Wilmington PLC, Wolters Kluwer and Baker Tilly, where she later joined the ICAEW council in 2013.

County accountancy firm celebrates series of award wins A COUNTY accountancy firm is celebrating a pair of awards this month. Mr Powell, one of Worcestershire's youngest chartered accountants to be appointed as a partner within a firm, said: "I am delighted to have been nominated for this award.

DWF recruits from accountancy firms for new consulting venture Contact us on +44 20 7292 3716 - email: [email protected] If you are looking for our Jobs site, please click here. Thelawyer.com Limited. Registered in England and Wales with number 11491880. Registered office at Wells Point, 79 Wells Street, London W1T 3QN.

Does a limited company need to be VAT registered? VAT registration is an important part of business as a means of paying tax and looking professional, but what impact does it have on limited companies?

DWF Launches Regulatory Consulting Business With Two Accountancy Hires The listed firm is the latest to diversify its offering.

Accountancy Gradaution Celebration QUT Gardens Point Campus. 2 George Street. Brisbane City, QLD 4000. Australia. View Map View Map. Due to graduate from Accountancy this semester? Come by B Block Level 3 to party with family, friends and academic staff to celebrate your achievement! There will be lucky door prizes, free drinks and canapés.

Opinion: FASB proposal jeopardizes health care entity financing A FASB proposal could render obsolete a valuable financing option for health care entities known as variable-rate debt obligations. Under current GAAP, VRDOs often are presented as noncurrent liabilities; under the FASB proposal they would be presented as current liabilities.

Tax: A little knowledge is dangerous Last week, Wendy Bradley highlighted the results of a survey by Deloitte, which suggested that the average person knows very little about tax. Her article explores the subject in good detail but a couple of points arise that could be of interest to those of us who practice this arcane and sometimes sinister art.

Toppled from the top - The risk of fraud Amongst the people arrested was Chris Marsh, Patisserie Valerie's former Chief Financial Officer. The SFO is yet to comment further on charge or actions it may take against those arrested.

Bdaily's latest partnership set to promote key accountancy services for businesses Bdaily is delighted to work in close partnership with leading London-based chartered accountants Nicholas Peters and Co. "We're an established, experienced firm of chartered accountants providing expert advice and support that aims to save or make you more money than you'll ever pay us.

Freemium model spells investment success for Grammarly Grammarly, the cross-platform grammar and spell checker, recently raised $90m to help grow its workforce as it further develops the capabilities of the product. Grammarly is one of the few companies that successfully operates a business model known as the 'freemium' model.

There's nothing artificial about the rise of AI All of the leading accountancy firms are in the process of developing AI solutions, so I think that's a pretty good indication of the potential the technology has for the profession," Davenport explains.

Off-payroll working - check your chain While we currently only have limited details as to exactly how this transfer of liability might work in practice, businesses that engage off-payroll workers will need to carry out due diligence on their labour supply chains ahead of next April to reduce their risk of being left on the hook.

Your current clients are the least of your problems when you look into the future And it's why I believe that your current clients are the least of your problems when you look into the future. They are not all suddenly going to insist that you reduce your fees by reference to the reduced time it will take to do their bookkeeping, prepare their accounts and tax returns.

New appointments and training programme for Telford accountancy firm Shropshire accountancy firm Columb and Gosling is developing its team with two new recruits and a national training programme for other members of staff. The Telford based company, headed by Helen Columb, recently welcomed Vicki Evans and Jamie Thatcher to the team.

Taxpayers may deduct casualty losses in prior years 9878, the IRS finalized proposed regulations it had issued in 2016, without changes, and removed temporary regulations published in connection with the proposed regulations.

India - #CareerBytes: All your questions about Chartered Accountancy answered Chartered Accountancy is one of the most sought-after professional courses in the country. The Institute ofChartered Accountantsof India provides the three-level CA program.

GAAPweb continues to promote gender equality in finance and accountancy GAAPweb continues to promote gender equality in finance and accountancy - read this article along with other careers information, tips and advice on GAAPweb.

Podcast: Inside Accountancy Episode 4 - R&D Tax Credits: doing nothing is not an option Podcast with Luke Hamm from GovGrant about the need for the R&D tax credits programme to be kickstarted in the UK in order to drive much needed innovation.

The strangest secret behind pricing confidence Who and what you think you are, shapes all your communication directly or indirectly. Self-esteem and self-image, therefore, becomes an important key to success or failure. It is also the key to understanding yourself and others. How you perceive yourself and how you allow others to perceive you will have a direct impact on your fee levels.

5 ways internal productivity can boost your profitability Finding productive internal processes is the first step towards improving your profitability. The true challenge for most practices, though, is to ensure they take some time away from business-as-usual to question if their current practice management is as efficient and profitable as possible.

Deloitte auditor accused of recklesness at FRC tribunal The Financial Reporting Council has begun its disciplinary tribunal of software company Autonomy's auditing, saying that Deloitte's auditors fell short of their responsibilities while auditing the company.

CBSE Sample Paper for Class 12 Accountancy Board Exam 2020 Content from CBSE Class 12 Accountancy Sample Paper 2020:. Accountancy - Class XII. General Instructions :. This question paper contains two parts - A and B. ii. Part A is compulsory for all. iii. Part B has two options - Analysis of Financial Statements and Computerised Accounting.

Elements of Book Keeping and Accountancy CBSE class 10 sample paper for Elements of Book Keeping and Accountancy subject is available here for board exam 2020. This sample paper consists of total 30 questions of different formats. Questions from 1 to 16 are asked for one mark.

People Moves: KPMG UK, Grant Thornton, Markel Tax and more The industry saw a great deal of growth in October, with Markel Tax, KPMG UK, Chiene + Tait and more hiring and promoting in a diverse range of positions.

2m government funding pot launched for SME accountancy and HR tech The government has issued a second £2m fund to support SMEs to better use technology for accountancy and HR practices. The Department from Business, Energy and Industrial Strategy has launched the fund to support SME activities such as invoicing, payments and credit management.

Survey finds widespread ignorance about tax The Deloitte survey used questions on whether you have a personal tax account and whether you file a self assessment tax return to gauge a level of interaction with the tax system. The body of the survey included a series of questions resulting in a Tax Education Score score, ie how many of the questions the participants got right out of 30.

KMPG and MHA MacIntyre lead British Accountancy award nominations The British Accountancy Awards has revealed the shortlist for the 2019 event taking place on 25 September, with KPMG and MacIntyre Hudson leading the nominations. Tax firm, KPMG lead with four nominations for 'International Firm of the Year', 'Graduate and Non-Graduate Program of the Year' and 'Large Firm Innovation of the Year'.

Crushing the Four Barriers to Growth The first trick to reducing your exposure to barriers to growth is identifying what they are. Read this short guide to discover the four most common barriers and how you can overcome them. Starting a business can be hard. Growing your business can be even harder.

Navigating clients through uncertain times Framed around the topic of political uncertainty due to events including Brexit, the roadshows will look at how you can prepare for the unknown by optimising your practice and offering new advisory services. Starting on October 15, they will be held in Belfast, Manchester, Coventry, Southampton, Brighton and London.

Before PwC, before Coopers & Lybrand, there was Cooper Brothers…. Long before the merger of Coopers and Lybrand and Price Waterhouse created the firm we now know as PwC, Coopers was originally called Coope…

The shifting role of tax auditors in the digital age VP of Strategy at Sovos, Christiaan van der Valk, argues that the digital age is changing the role of tax auditors, not rendering them obsolete.

University of Derby forms strategic alliance with Botswana accountancy college The University of Derby has strengthened its longstanding partnership with Botswana Accountancy College by forming a strategic alliance with the Southern African business school.

Price in buying an accountancy practice Buying an accountancy practice is a big undertaking, but one which can help you rapidly grow to be a one million pound practice. If you know that this growth option is the right one for your practice, the next thing you need to be sure of is if you're paying the right price for it.

5 Ways to Navigate from Manager to Partner Are you working towards a clear career path? If so, what are you doing to make sure that you are on your way to becoming the next partner? The career ladder has become somewhat of a career lattice in many firms. This is mainly due to the fast advancements in technology that continue to change the way that we interact and work.

3 big warnings signs of burn out Are you feeling worn out, stressed, and overwhelmed? Do you tend to dismiss it thinking "I'm just tired" or "I'm tired because it's a busy season, I'll be better once it's over?" When I say tired, I don't mean feeling like you need a siesta.

Sustainability assurance's link to reporting quality The steady growth in assurance of sustainability reports suggests that companies increasingly perceive that there are net benefits of having their sustainability reports assured. Further, there has been an increase in the percentage of assured sustainability reports by accounting firms relative to nonaccounting firms.

UK VAT return on no-deal Brexit If the UK leaves the European Union on October 31, 2019, there will be a number of changes to VAT filings covering cross-border transactions. These arise as the UK leaves the EU VAT regime and becomes a 'third-country' under EU rules.

An accountant and a lawyer walk into a bar… CogitalGroup is the leading acquirer in the UK accountancy market, accounting for 31 of the 348 deals during the period under review. In addition to these standard transactions, Cogital has also acquired assets in the field of financial advice, business process outsourcing, and even IT and telecoms.

Managing anxiety when you run your own practice It was a Saturday morning in September when I was wrenched from my sleep by a familiar feeling. The best way I can describe it is a kind of "whump". It's that feeling where your stomach drops like you've received some bad news, or you're rattling down the first big dip of a roller coaster.

Media furore over corporate tax targets Netflix Its latest target, is Netflix. The fourth estate must remember that it is it important to distinguish between the delivery of content to users on the one hand and the physical activities that are taking place in the UK on the other hand.

Quick Tax Tip - Avoid making an illegal dividend When you make a dividend payment from your limited company you need to ensure that you've sufficient funds available to do so. Otherwise the dividend could be "illegal" which could cause a number of issues later down the track. To establish if you can pay a dividend and how much you can take there are some very simple rules to follow:.

Your Digital Checklist to Save You Time and Protect Yourself Online As you're aware, the final deadline for businesses over the VAT threshold to be using MTD has now passed. This is part of a drive by the government to create a 'Digital Britain', and rather than being seen as an inconvenience it should be seen as an opportunity.

Business Loan Repayment Calculator To make sure you aren't borrowing more than you can realistically pay back, use our business loan repayment calculator below to check if you're able to afford a business loan. Track your annual costs, monthly repayments and more.

Tackling the stigma of mental health in the accountancy profession Whilst the issue of mental health encompasses a complex and often 'taboo' subject within the workplace, World Mental Health day offers an opportunity for professionals to open up around the issue.

The Great VAT Flat Rate Scheme Escape! VAT Flat Rate Scheme appeals tend to fall into one of two categories: whether the FRS category is correct, and whether input tax is deductible. This case falls within the second. The business is in the leisure sector and runs centres with themed rooms which players must navigate to escape.

True transformation needs a strategic vision For accountancy firms everywhere, documents, data and information management are critical to organisational success. Yet, despite the march of digitisation, content-centric workflows largely remain paper-based and highly manual, with nominal integration between human and/or computing resources.

Popular Rwandan gospel singer who came out as gay forced to resign from accountancy job Support Pan-African Journalism Subscribe. Rwandan gospel singer Albert Nabonibo who recently came out as gay has been forced to resign from his job. Nabonibo told the BBC that he was pushed by his employers to resign from his accountancy job two weeks after his revelation.

Learn automation systems or be left behind, professionals say Accountancy is continually intersecting with automation systems, and industry professionals are urging accountants to learn and keep up with automation.

Accountancy colleagues head to the US for working trip Accountancy staff from a Shropshire firm had the chance to visit colleagues overseas on a week-long working trip.

We've launched a nationwide campaign to help SMEs overcome growth barriers As part of our ongoing commitment to help SME business owners address the things that could potentially hold back their company's long-term growth, we've launched a new campaign to support SMEs across the UK, overcome growth barriers.

Moore Global chairman Richard Moore to step down after 15 years The grandson of Moore Global Network's founder will be stepping down from his role as the company's chairman after 15 years in the role.

Best judgment assessment Is it just me, or are there more estimated VAT assessments being appealed? The most recent one across my desk was Kingsley Douglas, who operated CTN shops in the Liverpool area. The decision highlights the correct HMRC procedure, so is a useful resource.

Tech review: MX Master 3 mouse Over the years, this reviewer has literally used dozens of computer mice and rarely noticed any tangible difference, except when wires were consigned to history. It therefore came as Joy to discover that using the Logitech MX Master 3 was, like its keyboard companion the MX Keys which will be reviewed soon, genuinely exciting.

BDO's annual report shows overall growth thanks to mid-market focus Mid-market firm BDO released its annual report, highlighting its growth across the industry for the seventh year in a row, following a February merger.

Mazars appoints Nigel Layton as Partner Mazars, the international accountancy and advisory firm, has appointed Nigel Layton as Partner in its Forensic and Investigation Services practice in London.

If it's not a lack of technical skills that is holding you back…. Are you one of those accountants who only pays lip-service to the idea of developing and enhancing your non-technical skills? And yet, there are few accountants whose success is solely dependent upon their technical skills.

Manchester accountancy group announces seven new recruits SME specialist, Champion Accountants, has expanded its team by welcoming seven new recruits onto its group-wide accountancy trainee programme.

High Street Vs Specialist Accountants Rather than a head-to-head battle of high street vs specialist accountants, it's more a case of which one is better suited to you and your company. You may live near countless shop fronts with many general accountants, and in truth there's nothing to stop you from paying them a visit and getting on the books.

Accountancy firm names former RBS director as consultant He said: "I am delighted to be joining EQ Chartered Accountants which is an energetic and dynamic business which I have known for a number of years. I have found EQ to be extremely pro-active, very professional and client-focused which is also in keeping with my own philosophy.

Mind the cash flow gap In the long-term, being behind on the cash flow curve can end up costing businesses money by depleting their overall profit margins.

Cultural change: The market is ready, are you? As Ina Kjaer and I announced the creation of our new company EOS Deal Advisory, with a focus on a cultural shift from long and unnecessary hours to smarter ways of working, we knew the market wanted change. But as we started seeing the thousands of messages arrive from all over the world, we began to realise how ready it was.

Shropshire accountancy firm expand its growing team A Shropshire accountancy firm is continuing to grow its expert team with the appointment of a new client manager. Dyke Yaxley Chartered Accountants, in Old Potts Way, Shrewsbury, has seen a real increase in demand for its services and as a direct result, the company is in the process of recruiting additional staff to handle the work.

Manchester accountancy group champions trainee programme with seven new recruits Leading SME specialist, Champion Accountants, has expanded its team by welcoming seven new recruits onto its group-wide accountancy trainee programme.

Landmark year for BDO: Merger and investments create largest UK accountancy firm focused on entrepreneurial businesses Accountancy and business advisory firm BDO LLP has posted revenues of £578m, a 25% increase on the previous year, it announced today. Marking a seventh consecutive year of growth, this headline figure represents 15% organic growth, as well as a 10% boost following the firm's successful merger with Moore Stephens LLP in February 2019.

Accountancy firm takes over audit role of £80m trust from Big Four player The Aberdeen-headquartered firm is taking over from KPMG at the Dunedin Enterprise Trust following a competitive tender which the Big Four player was not invited to take part in. The trust reported a net asset value of £82 million in its most recent interim results.

Who is Chancellor of the Exchequer? This is really embarrassing, but the other day I was talking with a colleague and found myself struggling to remember the identity of the Honourable Gentlemen responsible for my sphere of professional interest. That never happened in the days of Philip Hammond, George Osborne, Gordon Brown or Nigel Lawson.

Trends in accountancy outsourcing survey launched Accountancy Age has launched a new survey, in conjunction with ForrestBrown, that aims to build a picture of how accountancy firms view the outsourcing of services.

Critical audit matters: What firms are reporting Some important themes are emerging in auditors' reporting of critical audit matters, which are the key component of the biggest change to public company auditor reporting in 70 years.

Postponed Accounting returns to the UK This is the Statutory Instrument that re-introduces the Postponed Accounting System. UK businesses importing goods into the UK from either the EU or non-EU countries will account for import VAT on their VAT Returns, rather than be required to pay VAT at the time of importation.

Podcast: Inside Accountancy Episode 3 - Accounting for your freelance clients In Episode 3 of Inside Accountancy, Accountancy Age reporter Shannon Moyer talks to Richard Hepburn of Gorilla Accounting about IR35, digital solutions, and the key considerations of providing accounting to freelancers.

People Moves: Multiple tax, accounting firms see partner, director growth Price Bailey, The Wilkes Partnership and Shoosmiths each welcomed a new tax partner, while Mercer and Hole promoted two and Smith and Williamson hires director.

Why humans trump AI in client relationships Of late, the accountancy industry has been the subject of a slew of negative media headlines, especially in the auditing space. Scrutiny has surrounded the administration of high-profile businesses like BHS and Patisserie Valerie at a time when the number of UK companies going into administration hit a five year high.

This is how accountants could be seen by the world at large. If only. Accountants wearing pink? Accountants in lime green? Accountants at the cutting edge of every fashion scene? Accountants telling jokes?

7 key parts of your new client onboarding process You have a great firm, it's growing as you've mastered your sales process and you get good referrals. However, could you improve your new client onboarding process? Does the way you welcome new clients mean they immediately think about passing you more leads or is it a chore that takes hours of your team's time?

Graduates handed jobs after experience with York accountancy firm Townends AN ACCOUNTANCY firm have employed graduates to join their workforce after internships.

IRIS might not be the right fit for you You don't expect a software provider to come to you and, as the first point of the conversation, say: we might not be the right fit for your accountancy practice. You'd be very surprised to hear that wouldn't you? Well, that's what you can expect as a potential new customer of IRIS when a member of our sales team first speaks to you.

Executive greed hits the profession Earlier this week, Richard Hattersley wrote an impeccably researched article informing readers that KPMG had decided to withdraw mobile phones from many members of staff. This might sound like a relatively minor announcement but the underlying implications could well reverberate around the profession for quite some time.

Accountancy veterans in Scottish office launch FOUR veterans of the Scottish accountancy scene have created a new corporate finance office in Edinburgh to target small and medium-sized…

The case for continuous close Closing the books is an intensive, resource-heavy task that takes manpower from the entire company-but it might just be a thing of the past. With the "continuous close," accounting companies can utilise the Cloud to design a process that not only continually monitors critical information, but delivers it on a real-time basis.

How to enhance the audit experience How to enhance the audit experience - read updates from Menzies LLP, a leading UK accountancy firm based in Surrey, Hampshire, London and Cardiff.