Accounting News

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

Video: Forensic Accounting - Skills In this video, Chris Osborne, Partner and head of the forensic services at FRP, discusses the skills that are required to be a forensic accountant.

Is partnership right for you? Reaching partner status is the ultimate goal for many practice accountants - but what does it actually mean, and is it right for you? When we're working our way up the ranks, I'm sure we've all looked at the partners at some point and thought, 'I'd like to be in their shoes one day'.

Delhi HC hits Accountancy teacher with Rs 25 lakh fine for poking holes in CBSE's sample question papers A bench of Chief Justice D.N. Patel and Justice C. Hari Shankar called the petition "frivolous" and imposed a hefty fine on him. "You are not talking about an exam paper but sample papers. The model papers are for students' practice," the bench said.

The challenges of adopting change Never underestimate the impact of change. When you start to use something new, you have to change things - that much is obvious. However, what is less apparent is how difficult making changes can be and how long it can take. Change management is a key stage in adopting cloud technology in an accountancy practice.

What skills does a good CFO or Finance Director need? Related Posts:How accountants can take control of their career successHow prepared are you for what's coming?Why can’t I just be a good accountant?Who gets to decide what are your top skills and expertise?How many of the 5 types of advisory services can you…3 lessons for accountants from….

Provisional liquidator appointed to Dublin engineering firm The High Court has appointed a provisional liquidator to a Dublin-based mechanical engineering subcontractor employing more than 160 people.

Podcast: Inside Accountancy episode 12 - In and out of practice In our latest podcast, Neil Walker, Principle Consultant at AJ Chambers speaks to Lee Holloway, Partner and head of the Tax Risk Management team at Grant Thornton, about his career progression that saw him leave and return to practice.

Value-based service: No one wants a tax return or a set of accounts Value-based service surely just means accountants providing value to the client in a form of service. Isn't that what you are already doing? Or to put it another way, it's helping clients when they need it. I don't think this is really the problem.

Using tech to improve practice efficiencies As accountants, we are no strangers to software and technology. Almost all of us have used several different pieces of software for our core service, such as accounts, tax returns, VAT etc. Many of us are even no stranger to advising clients on the right software for them.

Why I recommended FreeAgent It's hard to watch prime time terrestrial TV these days without an advert popping up for accounting software telling us how to make our accounting and bookkeeping easier. The last ten years or more has seen an unprecedented rise in the use of online accounting software.

ACCA Podcast: Recruitment 101 Recently I got the opportunity to chat to ACCA about all things recruitment, from CV and interview advice to using social media to stand out to employers. We covered some important jobseeking dos and don'ts which accountants looking for a job this year will no doubt be interested to know.

Accountancy firm warns property owners of tax changes Cwmbran accountancy firm Green and Co is warning property owners to make themselves aware of changes in the tax rules relating to the sale of residential properties in England and Wales, with effect from April 6, 2020.

R&D Tax Claims Surge - Research & development services - Menzies James Hadfield - Audit Partner. Previously featured in Lawyer Monthly. Significant changes to the audit profession in recent years mean that the industry is facing a recruitment crisis.

Irish economy set to grow by 3.4% in 2020 Accountancy firm EY has revised upwards its economic forecast for this year. EY's latest Economic Eye report said it expects to see GDP growth of 3.4% for 2020. That is expected to moderate to 2.8% in 2021 and 2.7% in 2022.

Accountancy firm MHA Monahans beats tough competition for awards shortlist AN ACCOUNTANCY company based in Swindon has seen off competition from tens of thousands of other businesses around the country to be shortlisted for a major industry award. The team at MHA Monahans is celebrating after being recognised as one of the top performers in the accountancy sector by the IRIS Customer Awards.

The Dividend Dilemma Beware of backdating dividends because what is cheap now can be expensive later. The backdated dividend might not be uncommon and I might be forgiven for thinking that it might even be widespread but it is a problem often misunderstood.

India - #CareerBytes: Career options to go for after pursuing Chartered Accountancy In India, Chartered Accountancy is one of the most sought-after professional courses. The Institute of Chartered Accountants of India provides the three-level CA program comprising Foundation, Intermediate, Final courses. While the career path for becoming a CA is tough, it is a very promising and rewarding option.

Accounting firm to contractors grows along with its SMEs Icon, which provides accountancy and compliance services to contractors, is now supplying a similar service to the ‘growing SME client base we’ve had in the background’.

Cyber Security & Data Protection Advice for SME Businesses - Menzies Could cyber fraudsters breach your systems? Mike Ayres reviews the important cyber security actions you should take to protect your business.

What are special economic zone ? - UK economy protection Mike Ayres explores the value and opportunity that special economic zone could have on boosting UK economic confidence.

Liquidator Duties Statutory and Regulatory Duties. A Liquidator has a number of statutory duties which apply as follows:. Duty to call meetings when requisitioned in accordance with the Insolvency Rules. Duty of notification via advertisement of the appointment and the convening of creditors meetings.

HMRC advice & reasonable excuse The Upper Tier Tribunal has found in favour of Marlow Rowing Club. The Club had argued that it had a reasonable excuse for its issue of a zero-rating certificate in relation to the construction of a new clubhouse. The construction of a new building for a relevant charitable purpose is zero-rated.

Satellite Litigation with a Spin of Insolvency Satellite Litigation with a spin of Insolvency. Satellite Litigation with a spin of Insolvency. The case of Bell and Anor v Ide and Ors EWHC 230 is a piece of satellite litigation, full of some rather arid arguments about service. I am not going to give those any oxygen.

Fielding the Director's Nomination for Liquidator Fielding the Director's Nomination for Liquidator. Fielding the Director's Nomination for Liquidator. Dare I say it; here we go again. Yet another Fielding v Seery BCC 315 type of case, that in a different context not so long ago featured in the post Liquidator Removal: Open Your Eyes and See.

Pursuit of the Accountant's Files Pursuit of the Accountant's Files. I frequently seek out the files of a company's accountants for which I am liquidator and often seem to have to go to some considerable lengths to justify the demand for such production, which appears to me to be fundamental to enable me to comply with my statutory obligations as Liquidator.

Campbell Dallas and Baldwins North East set to merge Campbell Dallas and Baldwins North East are to merge, according to an internal email seen by Accountancy Age. Chris Horne, managing partner of Campbell Dallas, will take lead and Baldwins North East regional managing partner Andrew Little will report to him.

Fintech Modulr hits Edinburgh with 'accountancy innovation roadshow' Modulr, the business-to-business payment specialist with a growing Edinburgh presence, is to kick off its "accountancy innovation roadshow" in the Scottish capital next week. The fintech firm said Edinburgh would mark the first of a six-city tour of the UK.

Video: A day in the life of a forensic accountant In this first of a five-part video series, Accountancy Age spoke to Chris Osborne, Partner in the forensic services team at FRP, to ask what the role of a forensic accountant involves day-to-day, and what skills are needed to become one. A vital quality of a forensic accountant is adaptability.

A yes man, yes man, my kingdom for a yes man The world of accountancy had been building itself up for Sajid Javid's long-awaited Budget debut on 11 March. As readers will be well aware, this writer did not have much confidence in the new Chancellor's grasp of the tax system but was prepared to be pleasantly surprised.

Baldwins founder departs, North becomes CEO Founder and director of Baldwins, John Baldwin has left the accountancy firm "with immediate effect", alongside his son David and Shaun Knight - who are also directors, Cogital Group has confirmed. A spokesperson for Cogital Group said they left at the beginning of the week.

Salford accountancy firm is fastest practice in Manchester to reach Xero Platinum Status Salford accountancy firm, Quay Accountants, has received platinum partner status with Xero. They are the fastest practice in Manchester to have achieved this accolade, with only 2% of accountants in the UK holding this title. Xero is the global leading online accounting software provider, designed to help businesses streamline their finances.

Digital-first accountancy paving way for job security, experts say While the accounting industry is plagued by fears of job loss, experts say that the era of the digital accountant is already here, and that jobs are secure.

Former Anglo finance chief Willie McAteer expelled from accounting body Former Anglo Irish Bank finance director Willie McAteer has had his membership of Chartered Accountants Ireland revoked and agreed to pay €15,000 plus VAT towards the cost of a disciplinary tribunal into his actions around transactions involving the bank in late 2008.

Voluntary Disclosure to HMRC: Is It Necessary? What Does Voluntary Disclosure Mean? Voluntary disclosure is simply the act of letting government services like HMRC know about a mistake or non-compliant acti.

Former Anglo executive struck off by accountancy body Former Anglo Irish Bank executive William McAteer has been expelled from Chartered Accountants Ireland after a disciplinary tribunal found he had brought discredit on himself and the profession.

New name for Shropshire accountancy company A Shropshire accountancy company has been relaunched with a new name to reflect its widening package of client services. Columb and Gosling has changed its company name to Turas Accountants taken from the Gaelic for journey and reflecting the Irish roots of company owner, Helen Columb.

Downing St Dreams - Our predictions for Budget 2020 Richard Godmon outlines our predictions for the Budget 2020, covering: Fiscal incentives, R&D Relief and many more key topics.

IR35 protestors demand off-payroll tax review More than 400 protesters descended on Parliament and HM Treasury yesterday, calling on UK legislators to halt IR35's progression. Freelancers and contractors from across the UK expressed their anger over IR35's private sector changes, chanting for then-Chancellor Sajid Javid to spearhead a full review into the legislation.

Office move to help drive accountancy firm's expansion It is also home to a growing digital team that uses the latest technology to create management information platforms for businesses.Commenting on th… You can carry on reading for free, but you have reached the maximum number of pages an unregistered user can view.

Quiz: Auditor independence and FASB's revenue recognition standard Take this quiz to find out what kind of guidance auditors can provide without compromising their independence.

Bad debts and worse debts In principle, running an accountancy practice is very simple. You persuade somebody that they need a piece of work, you and colleagues carry out the project, you render a fee and the client pays it. There are often hiccups along the way, but 98% of the time this process runs relatively smoothly.

West Cork accountancy firm leading the way in bringing Cloud Accounting to SMEs Caroline Crowley, Chartered Accountant and Chartered Tax Adviser with Charles P Crowley Accountants is encouraging all small and medium sized enterprises and farmers to move to cloud accounting.

Excel video walk-through: Sparklines We featured one of the videos last week in the online-only article "Excel Video Walk-through: Icon Sets." This article shifts the spotlight to sparklines, which show data patterns and trends via small charts that fit in a single Excel cell. Sparklines are most effective when inserted in a cell near the data being depicted.

Why you should care about DAC6 From 1 July 2020, taxpayers and their advisers will have a new set of disclosure rules to get to grips with. These new rules, based on an EU Council Directive, require cross border tax arrangements which meet the required conditions to be reported to either HMRC or another tax authority in the EU.

What a fantastic RED January we've had! January saw our teams taking part in Haines Watts Wear Red Active Fridays. A combination of wearing red to raise money for Mind and taking part in team activities on each Friday in January. We did team lunchtime walks, stepping up, boardroom table games, yoga and deskercise.

7 in 10 contractors are unsure who to trust with IR35 Research from Brookson reveals that recruiters which proactively engage with contractors around IR35 will have a competitive advantage. Contractors don't know who to turn to for IR35 advice, research from IR35 specialists Brookson Group reveals.

Accountancy firm strengthens tax team with key appointment One of south east Wales' largest independent accountancy firms has expanded its tax team following another successful year. Daniel Burton has joined Newport-based Kilsby Williams' tax team as a tax manager, bringing with him a range of industry knowledge and experience.

Parenting as leadership education A parent's most important task is to deliver into the world an adult human being who is able to survive and thrive on their own: to earn a living, to form stable relationships and to contribute to their community.

Residential developments This decision is not always easy to follow, as there are a number of inter-dependent issues being addressed. The case involves a residential development, including creation of HMOs and extension of existing dwellings. The result of this poor planning and poor process was an assessment of around £59k.

The Future of Finance Systems - Global Survey 2019 Taking the right course for financial systems can be one of the most turbulent and disruptive periods in our professional lives, learning from our peers provides valuable insight into issues, concerns, and trends that will likely define progress over the next five years.

Example: the 5 R&D tax relief mistakes made by businesses - Menzies Read about the 5 common R&D assumptions businesses make to ensure you apply for business tax reliefs that your company is entitled to.

CBSE Class 12 Accountancy Board Exam 2020: Chapter-Wise Important Topics Chapter 1 : Accounting for Share Capital. - Issue of Shares. - Accounting Treatment. - Forfeiture of Shares. Chapter 2 : Issue and Redemption of Debentures. - Distinction between Shares and Debentures. - Accounting Treatment of Debentures. - Accounting Treatment.

Local accountancy firm sponsors Lancashire Red Rose Awards 2020 Local accountancy firm sponsors Lancashire Red Rose Awards 2020 ⋆ Business Lancashire.

CBSE Class 12 Accountancy Board Exam 2020: Chapter-Wise Most Important Questions & Answers For More Important Questions and Answers from this Chapter - Click here. Ques 1 How does 'Nature of business' affect the value of goodwill of a firm ? Solution: A firm that produces high value added products or products with stable demand is able to earn more profits therefore, firm's goodwill will be more.

ACCA Practising Certificate I have a question regarding my PC. I passed ACCA exams in 2010 and qualified with 3 years experience in 2013. In 2015 I became a member. In 2017 I became FCCA. After that I started working in industry and also as a free lancer. Now I wanted to apply for a practising certificate.

Income, Profit, TAX POT and Earnings Going freelance, starting up your own business or being your own boss means keeping a close eye on finances to make sure things are going well enough for you to be able to take some money out of the business to live on. However, not everything that you invoice and collect from your clients or customers, less your costs, belongs to you.

Frank Hirth announces tax partnership with US accountancy firm Frank Hirth has announced the transition of its business and corporate tax practice to US public accounting firm Raich Ende Malter and Co. The firm that focuses on the US and UK private client market revealed that the transition took place on 4 February 2020.

Taxing the rich Many subscribers will have heard the rumours over the weekend that the government is planning restrictions to pensions relief for higher rate taxpayers and the introduction of a mansion tax.

MeToo - The story continues By Jonathan Iyer, Associate, and Leonie Sheridan, of law firm Lewis Silkin's Professional Services team.

Is there a future for compliance focused accountants? Related Posts:What's more important than whether compliance work is dying?The real reasons you need to do business advice properlyThe future of compliance services for accountants…Why are you so focused on doing compliance work for clients?What do you mean when you talk about the 'Rise of…Top ten blog posts of 2019.

Born to lead? How any accountant can be a leader What is acceptable as a leadership style now is completely different to the dictatorial style many associate with historical managerial approaches. People no longer want to be told what to do, when to do it and how to do it. Perhaps they never did! But they certainly accepted it and put up with it.

CBSE Board Exam 2020: Check Important Questions & Answers for Class 12 Accountancy - Chapter 5 A's Capital A/c Dr 80,000. To Realisation A/c 1,32,000. Ques 4 Ashish and Kanav were partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March, 2018 their Balance Sheet was as follows :. On the above date they decided to dissolve the firm.

Accountancy Software Market Growing Massively by 2020-2027 Major Players QuickBooks, Xero, Zoho, FreshBooks, Wave Financial The same have been illustrated. It studies well established companies and startups for a full-bodied outlook on what drives the progress of the businesses. It includes several online and offline activities to expand businesses rapidly. Brand promotion strategies, sales strategies, advertising strategies have been mentioned in the research report.

CBSE Board Exam 2020: Check Important Questions & Answers for Class 12 Accountancy - Chapter 2 Ques 7 Meera, Sarthak and Rohit were partners sharing profits in the ratio of 2 : 2 : 1. On 31 March, 2018, their Balance Sheet was as follows :. Sarthak died on 15th June, 2018. According to the partnership deed, his executors were entitled to :. Balance in his Capital Account.

CBSE Board Exam 2020: Check Important Questions & Answers for Class 12 Accountancy - Chapter 1 Specific donations are capitalized while preparing the final accounts of a Not-For Profit Organisation. Ques 2 State the basis of accounting of preparing 'Income and Expenditure Account' of a Not-For-Profit Organisation. Solution: Accrual basis. Ques 3 State the main aim of a not-for-profit organisation.

HMRC announce IR35 change HMRC confirmed on 8th February 2020 that the IR35 changes will only apply to work carried out on or after 6 April 2020. This will enable businesses to continue to pay impacted contractors for work carried out prior to 6th April 2020 without PAYE deduction.

Why practices should charge no-show clients I read the recent post in Any Answers about non appearance fees with interest. During busy season, several clients hadn't shown up for out of hour's appointments, and the poster was considering charging a £20 non-appearance fee as a deposit. This would be deducted from the client's bill, or lost if the client didn't turn up.

How to avoid implications when exiting a family business Walking away from a family business can be hard, both financially for the business and emotionally for the individuals involved. A recent example is the Sussexes parting from the world's most famous family business, the Royal Family.

Podcast: Inside Accountancy episode 11 - IR35 has instilled a 'fear culture' Podcast: Play in new window - Download - Embed. Subscribe: Apple Podcasts - Android - Email - Google Podcasts - Spotify - RSS.

Accountancy firm names managing partners in Aberdeen and Edinburgh Business advisory and accountancy firm Anderson Anderson and Brown has appointed managing partners in its Aberdeen and Edinburgh offices. Derek Mitchell will take over at the Granite City head office with its team of 250 and Lyn Calder in the capital, which has a staff of 40, on 1 April.

Accountancy Age 35 under 35 2020 - entries open! Entries are now open for the Accountancy Age 35 under 35 2020 ranking. The ranking, developed in partnership with AJ Chambers Recruitment, 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.

Accountancy firm Anderson Anderson & Brown LLP appoints new partners Anderson Anderson and Brown LLP has announced the appointment of new office managing partners. The firm said these come during a period of significant growth at AAB as it works towards ambitious plans, including achieving revenue of £40 million by 2022.

What is Entrepreneurs' Relief? Tax Technical Specialist Will Sweeney explains what Entrepreneurs' Relief is, it's value to businesses and the changes that may impact SMEs.

Agreement provides mobility for CPAs, South African accountants CPAs and South African chartered accountants have a pathway to have their credentials recognized in South Africa and the United States under a new agreement.

How to make time for business development How do you make time for business development when you have a full day - especially if you are a consultant? As you start to go up the ladder, on the way to making partner, your responsibilities get bigger.

How to communicate with clients to raise your fees There are many reasons for accountants not raising their fees when they should - namely avoidance of an awkward topic, fear of losing clients or a preference for the path of least resistance - but one of the biggest reasons for not doing so is not knowing how to do it.

'Unreal' - How Coventry City star went from accountancy to big money move Coventry City news - The 19-year-old was all set for a very different career a few short years ago.

Neuroscience and how to price accountancy services Decision making is not rational. Therefore, there is great power in knowing what is going through one's mind when such a decision is being made. To help you convert your prospects, particularly when thinking about how to price accountancy services, here is what neuroscience says about how people buy accountancy services.

Why it's best to ski with accountants… Why is it best to ski with accountants? Becuase there's safety in numbers.

Turning IR35 on its head: 5 key takeaways Here are the five key takeaways from our recent webinar, Turning IR35 on its head. Click the link at the bottom of the page to learn more.

People Moves: BDO, Mazars, Deloitte Ventures and FCA Accountancy Age’s weekly round-up of industry people moves features changes within regulatory bodies, firms like BDO and Mazars, and a Big Four subsidy.

Accountancy automation and the future of Accounting Britain 2020 & Beyond The trend of accountants in London is growing faster than expected. With the help of new technology, young accountancy firms offering services such as legal research, litigation support, and document review make up a market of £7.6bn a year.

Putting trainees on the road to accountancy It has been tough - the whole work, life and study balance is difficult at times but I'm getting through it and I know it will be worth it in the end." The agency has 14 accountants who qualified while training at the DVLA, and a further 13 that qualified before joining.

EY predicts big rise in its number of tech employees A fifth of employees at big four accountancy and consultancy firm EY will be working in tech related roles within two years, the company has predicted. In order to achieve the milestone, the business has set a target that a quarter of its graduates will come from STEM backgrounds by the same date.

Bedrock Tax owner shortlisted for national Women in Accountancy and Finance 2020 One of Bedrock Tax's Directors, Lisa Topliss, who is also the owner of the Ilkeston-based business, has been shortlisted for the inaugural Women in Accountancy and Finance Awards 2020 which showcases the achievements of women in practice, business and the third sector.

CBSE Class 12 Accountancy Syllabus 2019-20 & Important Resources Accounting for Share Capital. - Share and share capital: nature and types. - Accounting for share capital: issue and allotment of equity and preferences shares.

Survey: What does the future of tax look like? That's why, in partnership with Tax Systems, Accountancy Age has launched a new survey that aims to discover how those in tax are working through the changing ecosystem. Results will be used to identify the key hurdles facing tax professionals and where they are in terms of embracing technology to overcome them.

What's the latest on Entrepreneur’s Relief? - Entrepreneur’s relief changes Tax Technical specialist Will Sweeney explores the latest proposed changes to Entrepreneur’s Relief and the impact on the buisnes tax scheme.

CTCs herald new era of control for tax authorities Stricter controls on VAT compliance is set to shut down the “colossal” VAT tax gap, according to Sovos' SVP Christiaan Van der Valk.

Time to advance your career? As Alfred, Lord Tennyson so perceptively observed, "In the Spring a young man's fancy lightly turns to thoughts of love.". In today's more commercial times, it is likely that men and women, young and old will also regard the spring as a trigger to think about moving home.

Accounting for productivity Productivity stagnation is one of the key challenges facing the UK economy. During much of the post-war era labour productivity increased by about 2% per annum on average. But in the last decade, the yearly increase has been at no more than 0.3% according to sources such as the Office for National Statistics.

EU's e-invoicing rules raise concerns With respondents working in finance and tax, the research highlights the current situation and challenges of the digital transformation in the European tax landscape, especially across the UK, Germany and Sweden.

New era for alliance of accountancy firms An alliance of chartered accountancy firms with members located across the UK has been acquired. CharterGroup was formed in 1986 and provides services and support to independent accountancy firms.

New GASB standard addresses lease accounting, OPEB, other issues Issues for state and local governments related to lease accounting, other post-employment benefits, and other topics were addressed Wednesday in an omnibus standard issued by GASB. The new standard, GASB Statement No. 92, Omnibus 2020, addresses various issues that include:.

Apprenticeships shaping future of business This week marks National Apprenticeship Week, which celebrates the diversity and value that apprenticeships bring to employers, apprentices and communities across England today. Apprenticeships are one of the many ways companies can increase entry routes into their profession or industry.

New appointments in accountancy, property, engineering and finance Accountancy firm Grant Thorton, property agency Matthews and Goodman, engineering consultancy Steven Hunt and Associates and GC Business Finance have all announced new appointments. Audit specialist Gareth Hitchmough has been made a partner at Grant Thornton in Liverpool.

Management shake-up at Russell & Russell as accountancy firm names new MD He said: "In the next three to five years, we would like to triple our turnover and this growth could well come through acquisitions, as we believe the shift towards Making Tax Digital will lead some of our competitors who are nearing retirement to exit the accountancy profession.

Accounting watchdog launches hiring drive amid shake-up Britain's accounting watchdog has revealed plans for a hiring push as it bolsters its oversight of audit firms following a string of scandals in the sector. The Financial Reporting Council said it will take on an extra 100 staff, including lawyers and forensic accountants to speed up enforcement investigations.

Final rules determine maximum vehicle values 1.61-21 and, respectively, to align the limitations on the maximum vehicle fair market values for use of these special valuation rules with recent statutory changes made to the depreciation limitations in Sec. The regulations finalize, without substantive change, proposed regulations issued in May 2019.

Feb 2020: Coming up for air Starting with a comparatively clean slate after the Christmas lull and January rush makes it a little more difficult to pick the biggest issues that will emerge during the next month, but we can certainly make a few calculated guesses.

Digital marketplaces should shoulder VAT responsibility According to the AAT, online marketplaces like Amazon, eBay and Etsy are home to third party sellers, who sometimes sell goods without charging VAT. The UK's HMRC estimated that online VAT fraud, including not charging VAT for goods sold, costs the Exchequer £1bn to £1.5bn in lost revenue a year.

Dear Nick: 'My brother may give up on his life if accountancy doesn't work' The dilemma: My brother is severely depressed. He has a first-class degree in maths but couldn't get a job in teaching, so my dad advised him to do an accountancy degree. He got a first in that too and has done a lot of self-study. Unfortunately at 40, he cannot even get his foot in the door.

Want to add advisory services to your offering? Remember these 4 Ps. And if you fail to take these into account you will struggle to make a success of your new 'offering'. If you are going to expand your service offerings in the immediate future there are four essential skills you will need to develop as regards each new service:.

Top Kilkenny accountancy firm helps secure $400m US takeover deal A leading Kilkenny accountancy firm has played a key role in the sale of an Irish company to a US-based business, in a deal reported to be worth a whopping $400 million. Carrigan O'Dwyer, based on the Dublin Road, acted as auditor and assisted in the sale of DecaWave to California-based Qorvo.

Accountancy qualification for Pierce employee An employee from Blackburn based accountancy and business advisory group, Pierce has gained the ACCA qualification to become a Chartered Accountant. For the past four years Waqas UrRehman has combined his full-time role as an accountant whilst studying for his accreditation.

Everything You Need to Know About AAT in 2019 - ICS Learn Units covered in the synoptic:. The Advanced Diploma has 4 unit assessments and 1 synoptic exam. Unit assessments:. Units covered in the synoptic:. The Professional Diploma has 3 mandatory unit assessments, 2 unit assessments for elective units and 1 synoptic exam.

Philippine Accountancy Congress now on its 4th year The National Federation - Junior Philippine Institute of Accountants proudly brings to every JPIAn, the Philippine Accountancy Congress with the theme: "NUMINOUS: Breaking into the Unknown".

Asset-creating liquidator deserving of pat on back Asset-creating liquidator deserving of a pat on the back. Asset-creating liquidator deserving of a pat on the back? Well in the case of Walker Morris v Khalastchi 1 BCLC involved a liquidator’s refusal to afford a firm of solicitors an undertaking not to release documents from files they were to release to the Inland Revenue.

Exclusive: Profits rocket at ABS where accountants supply clients An alternative business structure owned equally by two law firms and an accountancy practice has recorded a 1,200% surge in post-tax profits.

Many paths to take - the ATT's educational offerings The ATT has broadened its range of qualifications and entry routes into accountancy as more and more young people are concerned about university costs.

Medical exemption - brief comment on ECJ decision The ECJ has released a decision that may affect some suppliers of medical services. The decision in Finanzamt Kyritz v Wolf-Henning Peters, addressed the supply of services by a medical professional within and outside a hospital environment. Art 132 1 and of the PVD provide for this exemption:.

Top Accountant Skills 2020 - GAAPweb We put together a list of the top Accountant skills for 2020 so you can brush up on desired traits and tailor your applications accordingly.

Comet, Confidentiality and Regulatory Intervention Comet, Confidentiality and Regulatory Intervention. Readers of the intriguing judgment in the case of Lambert Carton-Kelly v Edwards EWHC 131  will not need to work under Stakhanovite conditions to get through it expeditiously.

"No Defence": Director Duty - Liquidator Duty "No Defence": Director Duty - Liquidator Duty. "No Defence": Director Duty - Liquidator Duty. That position culminated in the Liquidator, Mr Hunt, succeeding in his application against the Director.

Self assessment season: What worked and what didn't work It felt like it's been January for an entire year. I cannot remember what the sunlight on my face feels like, and I'd been dreaming of the cool February breeze in my hair… Can anyone else relate? January always seems like the longest month. Christmas and it's excesses are over.

Insolvency Practitioners deserve huge pat on back? Insolvency Practitioners deserve huge pat on the back from creditors? Certainly not, I fear some of you might say! Let's have a look at the Insolvency Practitioner who puts his neck on the line seeking to improve the realisations by pursuing contentious recoveries for creditors.

Stockport apprentice completes training with accountancy firm In a timely announcement during National Apprenticeship week, Stockport apprentice Shannon Jones has passed her apprenticeship in Business Administration with Bennet Verby accountants.

Comet, Confidentiality & Conflict "Comet, Confidentiality and Conflict"

Kelso-based accountancy firm Rennie Welch expands into larger Berwick site Borders-headquartered accountant Rennie Welch LLP has expanded into new offices in Berwick-upon-Tweed to accommodate growth in its business in the region. The move into a larger site in the town's Ramparts Business Park follows last year's merger with local firm Optimus Accounting.

How This Accountant-Turned-Entrepreneur Succeeded By Doing One Thing Amazingly Well At school Michael Gietzen dreamed of pursuing a City career in finance. When a family friend recommended that he first trained as an accountant he did. The move ultimately led him to becoming managing director of live events agency Identity Group currently ranked one of the U.K.'s top 100 fastest growing companies.

Know where you stand with IR35 Discuss your business and accountancy needs in detail with our friendly team with absolutely no obligation. Call our friendly team on 0808 168 0422 or. Request a call back.

Changes to Corporate Loss Restrictions - Capital Losses - Menzies Lucy Mangan reviews the April 2020 changes to corporate loss restriction rules and it's impact to capital losses on companies.

SEC proposes simplifying disclosure requirements The SEC voted to propose amendments designed to simplify and enhance certain company financial disclosures and issued guidance on key performance indicators and metrics in management's discussion and analysis. Item 301 and Item 302 would be eliminated from Regulation S-K under the proposal.

The transformation of tax: 2020 and beyond Our recent survey revealed that Making Tax Digital has been the single greatest kick-starter for digital transformation in 2019. This probably isn't too surprising but more so is the fact that 42% of professionals told us they still aren't ready for the 'phase 2' MTD requirements in 2020.

Accounting fun Film titles adapted to suggest tax evasion related topics: Fatal Deduction Force Ten Grand from Navarone Returns of the Pink Panther…

Double digit organic growth for "rebels of accountancy" Cooper Parry, the Midlands-based "rebels of accountancy," enjoyed a "fantastic" 2019, expanding into London, Bristol and the US, and reporting double digit organic growth. This 10% organic revenue growth for the year puts them amongst the fastest growing firms in the UK, according to the 2019 Accountancy Daily Top 50 survey.

Podcast: Inside Accountancy Episode 10 - The evolving role of accountants Natasha Frangos of haysmacintyre talks about the changing nature of the accountancy profession and the skills required to survive in this new look world.

People Moves: RSM, KPMG, BHP and more This week's round-up of people moves within UK-based accountancy firms features changes at RSM UK, KPMG, BHP, Brown Butler and Milsted Langdon.

Audit industry stalemate shows signs of shifting Signs that the UK’s audit industry would reform had slowed in the New Year, but we could begin to see more plans put in motion.

Great Park audit firm gives up accounting license, charged $550,000 in penalties by state An accounting firm Irvine city officials hired to audit contracts related to the Orange County Great Park in 2013 has surrendered its professional license and been given $550,000 in fines and penalties under an agreement with the California Board of Accountancy.

What's the next big niche in accountancy? Every accountant knows that the best way to grow a practice is to find a special niche ahead of the competition. When it works, you can get very rich, very quickly. The biggest problem usually comes in identifying something a little bit different and getting in before everyone else.

How Does Online Accounting Work? When you work with an accountant near you, you get together, discuss your accountancy needs, provide them with your business finance details and accounts access, and from there, the accountant can do any number of things depending on what it is you need.

What is the Domestic Reverse Charge ? VAT specialist Carol Hallam explains what Domestic Reverse Charge is and the possible impact on UK SMEs.

Surge in redundancy and poor service led to unique accountancy solutions Dissatisfaction with accountants' quality of service, professionalism and cost, combined with a slew of redundancies caused by the financial crisis in 2008 led to the launch of unique accountancy services, says Darren Fell CEO and Founder of Crunch Accounting.

Orange County Great Park auditor surrenders accounting license after legal battle with state oversight agency In addition to the license forfeiture, the firm agreed to pay a $150,000 penalty and a reimbursement of $400,000 to the state accountancy board.

How Fanbytes Leveraged Influencer Marketing To Make Accountancy Great Again Fanbytes managed to turn a“dull, boring, elitist and exclusive” campaign into an "exciting, impactful, and relevant” one by transcending traditional ad messages and striking a cord with Gen Z.

Top tips on how accountancy practices can make Self-Assessment hassle-free By Julia Wedgewood, Senior Sales Manager, Sage. The Self-Assessment period leading up to the deadline of 31 January, can be one of the busiest and most stressful times of the year for accountants.

HMV's top dog could be in the kennels once again HMV enjoyed significant growth since it opened its first store in London's Oxford Street in July 1921 - that is until its last six turbulent years anyway. For those few who didn't frequent HMV every Saturday like I did as a teenager, or walk past one on every high-street, it specialises in the retail of pre-recorded music.

Finance 'one of the strongest sectors' for 2020 The accountancy and finance sector continued to grow last year, with healthy salary increases reported across a variety of job roles, according to new data released by Reed Accountancy and Finance. The company analysed 7.5 million jobs posted since the beginning of 2016 and found that finance was one of the strongest sectors going into 2020.

When a Group member is not a Group member! I was disturbed to read the Melford Capital General Partners Ltd FTT decision. The taxpayer was the member of a VAT Group but HMRC seem to have assessed it on the basis that it should be treated as a taxable person separate to the other Group members.

The art of goal setting - 3 ways to achieve in business A lot of business owners have a three or five year plan and revisit this every year, but often the goals or milestones can prove to be out of reach. Here are three ways to create realistic business goals to set yourself up for success:.

ASB issues guidance on Global Investment Performance Standards The AICPA Auditing Standards Board has issued guidance to practitioners for engagements to examine and report on aspects of an investment firm's claim of compliance with the 2020 edition of the Global Investment Performance Standards.

Boutique accountancy service provides high responsiveness Emerging managers and family offices can benefit from the services offered by boutique accountancy firms as this gives them access to high quality, responsive service they may not get elsewhere.

Don't bother setting New Year goals You've probably already set some personal goals for 2020. The same applies in business. You've asked yourselves: what are this year's targets? How many more new clients will we get on board? How much shall we increase headcount? How quickly do we want to turn around the average tax return?

Future Focus: How will things have changed by the end of the twenties? But much, if not all, of this will become commonplace during the next decade. The signs and evidence are all there. And, over time, the new technology will enable you to do things faster, more efficiently, more productively and, potentially, at lower cost too.

Former Great Park Auditor Surrenders Accounting License The firm responsible for conducting two controversial Great Park audits surrendered its accounting license Monday after settling a complaint with the California Board of Accountancy.

KROST Kicks Off the Year by Announcing Merger with BPE&H an Accountancy Corporation And WOODLAND HILLS, Calif., Jan. 27, 2020 - KROST CPAs and Consultants, a firm based out of Los Angeles, has merged in BPE and H out of Woodland Hills effective January 1, 2020.

Will HS2 help accountants? I am hardly a visionary, but the news that HS2 is now projected to cost at least twice as much as originally estimated comes as no surprise. In fact, for some time, I have been regarding it as Crossrail 2, since it makes me just as cross as the original.

Charity Compliance Statements - Fundraiser Regulator Report - Menzies Richard Snelling explains the fthe Fundraiser Regulators charity compliance report findings and what needs to be covered in new reports.

The Tax system makes simple self assessments far too complicated I'm a great believer that where we have a tax regime demanding self assessment then TAX SHOULD BE SIMPLE. The Tax Rules should be something that each and every tax payer in the UK can understand. However there are a number of things that make the tax system unnecessarily complex.

HS3 makes more sense than HS2 HS2 makes for good reading in theory - connect the capital where most of the wealth is, to the outlying regions that are "underpriveleged". However the more one thinks about it the less sensible it seems. It is entrenching the status quo that everything depends on London which goes against the grain of levelling-up.

UM Wraps Up 16th Speaker's Edge Competition Photo by Stella Connell / School of Business Administration. They were joined by some 55 judges and 21 coaches for this year's speaking competition, a partnership between the university's School of Business Administration, Patterson School of Accountancy and Trent Lott Leadership Institute.

New syllabus for chartered accountancy students on July 1 this year New syllabus for chartered accountancy students on July 1 this year.

Accountancy watchdog waters down Andrew Tyrie plans for join audits The accountancy regulator has drawn up plans to reform the auditing of listed companies, but they appear to dilute recommendations made by the competition watchdog in its review of the scandal-hit audit industry.The Financial Reporting Council has told ministers it wants a system of “managed s.

Notice of Security - do not ignore! There has been a flurry of appeals in relation to a 'Notice of Security.' You can of course ask to HMRC to review their decision. You can then appeal to the First Tier Tribunal. At either stage you can challenge the decision in principle, or the quantum of the security, or both.

Accountancy Age announces new event series Focusing on how accountants can effectively use new technologies to optimise time and exceed client expectations, the day will:. "We have identified the need for our senior accounting audience to be able to understand how and which technology will revolutionise their business within the framework of key topics." Thomas added.

People Moves: EY, Crowe, Grant Thornton and more Spruce has more than seven years of experience with small and medium-sized businesses, and his promotion will allow him to take on bigger client delivery responsibilities out of the firm's Liverpool office.

The skills gap in accountancy Things are changing, but not necessarily in favour of the firms. At Theta, we are interviewing people from the big firms who are getting 'burnt out' at a more and more junior level. When I first trained myself, you would hear about an occasional partner who had reached this point, now its Senior Managers and Managers.

Why audit firm leaders need to practice what they preach Firm leaders can improve audit quality by modeling the behavior they say they value, according to a new study performed with the backing of the AICPA Assurance Research Advisory Group.

Do you recognise your own accounts? One of my big interests in life is making accounting data comprehensible to those who need to use it, other than those of us who prepare the accounts. I am often reminded that accountants don't always pay much attention to this. Recently, I was discussing the accounts presented by the auditors to the directors of a company for approval.

10 imaginative excuses for late tax returns and expense claims Every year, HMRC receives some imaginative excuses and expense claims following the 31 January Self Assessment deadline. HMRC has just hig…

Poor accounting practice in charities to be referred to professional body Charity Commission and Association of Chartered Certified Accountants sign information sharing agreement.

Tech and policy changes leave accountants at home With cloud-based booking keeping and the push to make tax digital, there are fewer reasons that require an accountant to be on site.

What's Structures & Buildings Allowance ? - Property Tax - Menzies Natasha Spicer explains what structures and buildings allowance is and the value of this tax relief to property developers in the UK.

Americans' financial satisfaction at all-time high Americans' financial satisfaction hit an all-time high in the fourth quarter of 2019, according to the AICPA's Q4 2019 Personal Financial Satisfaction Index. Gaining ground from the previous quarter and up significantly from its record lows a decade ago, the index was lifted to new heights by factors that included a surging stock market.

The Brexit effect: What does it mean for your career? The UK has faced its fair share of uncertainty in recent years. The financial crisis of 2008 and, more recently, the ongoing saga that is Brexit has caused a headache not just for politicians, but everyone in the general populous.

Sajid Javid gets to grips with the tax system The jury is still out as to whether the Chancellor of the Exchequer has got to grips with any part of the UK tax system. He has now been in office for over six months and still fights shy of making any substantive statements about tax policy.

HMRC updates internal guidelines in midst of IR35 review While the IR35-acjacent CEST tool has received a direct update, HMRC’s manual shows a number of prospective CEST questions, designed to determine tax status.

Over £1bn of alleged fraud hits UK Courts Recording fraud cases of more than £100,000 hitting UK Courts, KPMG's Fraud Barometer reports a total of £1.1 billion alleged fraud in 2019, the sixth largest value in the report's history.

Why 2020 could be a nightmare year for traditional firms Disruptors such as fintech, Open Banking, blockchain and AI sees the financial services industry colliding with the accountancy sector, and many accountancy practices / firms will need to adapt quickly and grow in these areas in order to compete, or risk losing ground to these newcomers.

HMOs - Capital Allowances - Menzies However, landlords who have joined the recent trend of converting single occupancy homes or other buildings into Houses of Multiple Occupancy or flats should seek advice, because they may actually be able to claim capital allowances.

How firms are delivering value with audit data analytics We're actually finding in many cases, we're saving the client more time than we're saving ourselves." Clients who see the benefits of applying audit analytics to some transactions often choose to incorporate additional areas into the process, Wilkins said.

New tax payment rules for 'very large' companies - Menzies LLP Broadly a company is Large its tax liability is greater than £10,000 and either:. Very large companies. Broadly a company is Very Large if its profits exceed £20 million in the current accounting period.

Beat Blue Monday: 3 steps for career motivation Many people find themselves reflecting on their careers as we enter the new year, and the gloomy associations of Blue Monday on 20th January might have left some of you lacking in motivation.

Watson Buckle accountancy firm thanked for Bradford Hospitals' Charity neonatal fundraising "Our Neonatal Unit provides a first-class service, treating and caring for babies around the region. However, it's the aftercare shown to parents and siblings, and the fact staff go over and above to help families, which makes the unit extra special.

News Corp Upper Tier decision There is already lots of material on this important Upper Tier decision. The News Corp group includes The Times, The Times on Sunday, The Sun, and The Sun on Sunday. Doubtless many other appeals are dependent on the outcome of this appeal. The FTT decision was written with the expectation that the decision would be appealed.

I save £250 a year by swapping an accountant for a free app PROFESSIONAL dog walker Lina Januseviciute claims she has £250 in the last year by using a free accountancy app. The 31-year-old from Daventry, Midlands started her business The Walking Dogs last year after quitting her job working for a landscaping firm.

What's the future for Gen X accountants? The firm wanted to become more efficient and to boost profits per partner. This required them to have more staff per partner. Rather than ramping up recruitment, they cut partner numbers. Most of those who left had previously joined the firm through mergers but had not matched their peers in terms of annual billings.

A new strategy to beat the tax return blues Everybody seems to be writing about the tax return season this year but nobody else has so far come up with anything like this radical new plan to take away the stress and heartache of what is almost every practitioner's nightmare.

RSM: What's in a name? It seems that despite all the drama, the ups and downs, firms coming and going, that certain brands are intrinsically associated with accountancy. And they're here to stay…for now. Kevin Reed is engagement and communications consultant at Foulger Underwood.

Blue Monday: Accounting firms aim to encourage mental wellbeing While Blue Monday is just one day, roughly 1 in 4 Britons experience a mental health problem each year. What can employees do to support these employees?

Feeling down? It might be time to stop If you're feeling downtrodden, your solution might be to keep going, plough on through because it will be alright but, often it's not. It can be a roller coaster of emotional struggle and pain. The danger is when you look around you, it appears everyone is doing the same.

Preparing for change - recruiting contractors in 2020 With a variety of recommendations from the Taylor Review set to be enacted in the new tax year, recruitment professionals must take the time to understand these legislation changes and the potential disruption they could cause, as well as take the necessary steps to ensure compliance.

VAT: HMRC must do better The FTT case of Dorset Trimming Co Ltd produced a win for HMRC on a technical issue concerning VAT registration. However, a very worrying aspect of this case was that HMRC failed to properly prepare for the hearing. It instead relied on the accountant of a small two-man company from Weymouth to produce the necessary papers for the case to proceed.

Podcast: Inside Accountancy Episode 9 - Bad debt vs disputed debt and the opportunity for accountants In the latest episode of our Inside Accountancy podcast, Accountancy Age's Austin Clark talks to Chris Clay, co-founder and managing director of award-winning dispute resolution firm Escalate Disputes, about corporate debts, dispute resolution and the potential for accountancy firms to add another service offering to their portfolios.

Fostering Income on Tax Return I have a client who has got partnership income around 12,000 a year + fostering income around £8,000 a year. as I didn't come a cross about fostering income it is sth new for me. Do I record it as a Self Assessment income and it is subject to 20% tax?

Three charities to benefit from local accountancy firm's fundraisers Nottingham-based accountants Page Kirk LLP have made a generous charitable donation following fundraising efforts by staff. The team in Gregory Boulevard spent 2019 organising a host of events to support no fewer than three good causes.

Advising your clients on carbon emissions The Association of Accounting Technicians has called on its members to be proactive with helping clients and employers understand how they can achieve zero carbon emissions.

UK Tax Investigations: Everything You Need to Know UK tax investigations are complex and stressful, but do they have to be? Finance experts arm you with all the info you need for a smooth tax investigation.

People Moves: EY, KPMG UK, UHY and more People Moves: Firms are bolstering workforce and welcoming talent—Big Four shake-ups, 10 trainees receiving professional qualifications at Duncan and Toplis.

Technology trends in accounting Discover how your peers are using technology to meet changing client demands and broaden their offering into advisory services. For our new report we surveyed over 150 professionals to give us a view of technology adoption in the accounting profession.

The best accountancy apps for freelancers including QuickBooks, Bokio and Sage AS the self-assessment deadline nears, Britain's five million freelancers will be wondering whether they need to pay an accountant as well as a taxman. Many accountancy apps promise to do much of the hard work for you for half the price - but can they really replace a flesh and blood accountant?

HMRC slammed by Norfolk business following tax blunder Debit and Credit Accountancy, a family run business based in Wroxham, spotted the taxman's blunder when a client was slapped with the £100 fine. The penalty notice related to late tax returns - which Debit and Credit are paid to organise on behalf of their customers - for the year ending April 2019.

Practice round-up: PwC, Mazars, and more… Accountancy Age's weekly round-up of practice news, including new teams, acquisitions and office moves. Updates from PwC, Mazars, and more…

You can't just keep appealing! An education provider, Metropolitan International Schools Ltd, has sought permission to apply for a Judicial Review in relation to a decision by HMRC. I understand that the School has made numerous appeals and applications over several years. You can find the substantive FTT decision at UKFTT 517.

Latest news from 'my mate down the pub' Conversation with a client… Me: "You've made a taxable profit for the year of £25,000. This means a corporation tax liability of £4,750…

This is your chance to nominate finalists for the Insider Scottish Accountancy and Financial Technology Awards Those who go above and beyond in achieving that will be celebrated in this year's Insider Scottish Accountancy and Financial Technology Awards. The awards will this year include three categories to reflect the increasing importance of innovation and new technology on the profession and sector.

Hull accountancy firm streamlines payroll and mentoring services with merger Client feedback has resulted in three sister companies merging to streamline processes and services for customers. Hull and East Yorkshire-based 360 Chartered Accountants has double-merged with 5Four Payroll and 360 Mentor after a consultation to improve experience revealed that many of its customers used all three services.

Partner promotions at Lancaster accountancy firm Ryan, who joined the firm in 2016 from one of the big four accountancy firms, KPMG, added: "Being promoted to Partner is a huge milestone in anyone's career and to have been able to achieve this in a dynamic firm like Baldwins means the actual journey to promotion has been equally as enjoyable as the promotion itself.

Accountancy industry calls for company reports to address UN sustainable development goals Leading accountancy bodies have today called for company reporting to address progress towards the UN's Sustainable Development Goals. The Institute of Chartered Accountants of Scotland and the Association of Chartered Certified Accountants are among six accountancy bodies which co-published the report today.

FASB clarifies interaction between standards FASB issued a standard Thursday that is intended to clarify the interaction between accounting standards related to equity securities, equity method investments, and certain derivatives. The board expects that standard to reduce diversity in practice and increase comparability of accounting for these interactions.

More taxpayers qualify for student loan COD relief The IRS extended its safe-harbor relief from recognizing cancellation-of-debt income for students whose loans were discharged either because their schools were closed or as a result of some type of fraud. The IRS had earlier provided relief for students from Corinthian College or American Career Institutes Inc.

Tribunal annoys HMRC again! This Upper Tier decision brings together two Direct Tax cases but may have wider implications. Both taxpayers, Nigel Rogers, and Craig Shaw, had been assessed penalties for late submission of their personal Tax Returns. Neither taxpayer appeared at the FTT.

New appointments and promotions in property and accountancy Commercial property consultancy Avison Young and accountancy firm DSG have announced a new hire and a promotion. Avison Young, whose Liverpool office is at No 4 St Paul's Square, has appointed Emma Berry as director and head of property management North West.

What's on your Budget wishlist? Chancellor Sajid Javid has set the date for the upcoming Budget as 11 March, but he may not have a lot to say when he stands at the dispatch box. His PM has already put on the handcuffs by committing to maintain rates of income tax, National Insurance Contributions and VAT.

Mobile as a threat Martin Morris discusses the problem of IP theft, data leakage, phishing and Wi-Fi interference be addressed as mobile threat looms large for corporates.

Are your emails getting out of hand? Older practitioners will remember the frustrations of communicating when it took days to exchange simple messages. A far cry from today's emails which arrive in a matter of seconds. Patience was the primary solution when nobody answered the phone, or you failed to get through to the right person.

Managing risk, preserving reputation Auditors can provide invaluable support for the managers of charities and trustees who are under increased scrutiny in very tough times: Steve Harper.

CBSE Board Exam 2020: Check Class 12 Accountancy Marking Scheme & Sample Paper Part A is compulsory for all. iii. Part B has two options - Analysis of Financial Statements and Computerised Accounting. iv. Attempt only one option of Part B. All parts of a question should be attempted at one place. How are the following items presented in financial statements of a Not-for - Profit organisation:.

M A Choudhury A client of ours purchased a farm house with some grazing land attached to it in 1997 for £290,000. The total area is 2.86 acres and the house and surrounding lawn cover about 0.75 acre. The farm house including the lawn has been used as main residence since the date of purchase.

ACCA: Accountancy needs to evolve in today's digital age With technology and digitalisation transforming every aspect of businesses today, there's a need for Accountancy to evolve its role to remain relevant and sustainable.

How to become a Partner Achieving the role of Partner represents a professional challenge for many accountants - but the right skillsets and a business-focus mind could just be the combination needed to reach that goal.

Costs and options for closing your contractor company The IR35 changes will result in many contractors exiting this sector and seeking full time permanent employment. As a result their Limited Company needs to be finished up and closed down. For most with very straight forward affairs this will be a very simple process and will be cheap to do.

Make the most of apprenticeships to build accountancy skills With skills shortages affecting multiple industries, it's no surprise that more and more employers are turning to a 'grow your own' strategy to create a reliable pipeline of talent. One of the most cost-effective ways to do this is through apprenticeships.

5 things businesses can do to be more productive ahead of blue Monday Blue Monday falls annually on the third Monday of January, which is why it's important to put some basic plans in place ahead of Monday 20 January 2020 to help team and business productivity. The experts at Haines Watts have shared their top tips to help business owners get back into the swing of things in 2020:.

Law, accountancy and teaching among most challenging professions to break into without a degree New research on UCAS deadline day. Solicitor, accountant and teacher are believed to be among the most challenging jobs to secure without an undergraduate degree, according to new research.

Shooting yourself in the cos: Irish firm's tweet causes backlash Accountancy software got a whole lot more heated yesterday when BulletHQ answered a query from a user of their's about the possibility of an Irish language option. The company answered with this humdinger of a tweet and have since received over 1,300 responses, largely shocked at their tone.

BlackRock CEO declares 'fundamental reshaping of finance' Powerful institutional investor BlackRock will hold companies accountable for their disclosures of sustainability risks and for the policies that underpin them, Chairman and CEO Larry Fink wrote in an open letter to CEOs.

Accountancy: one of the most challenging professions to access? "But it's not the only path available. There are other ways of accessing the accountancy profession, such as taking a vocational route like an apprenticeship. This approach wouldn't saddle you with debt, nor would it cost several thousand pounds of your own money.

One Finance: Accountancy Age launches diversity campaign One Finance will run across all three publications and explore the issue of diversity throughout the financial services sector. Throughout the campaign, we will be bringing you stories that underrepresented groups, encompassing the gender gap, BAME, LGTBQ+, disabilities, age, social mobility, religion and nationality.

Property deal sees accountancy firm grow ILKLEY-based property consultancy DE Commercial has brokered a deal in the town allowing a local firm to expand further. DE Commercial advised private clients on the letting of 9-11 South Hawksworth Street to Wilkinson and Partners Chartered Accountants, who were seeking larger premises within the town to meet their expansion strategy.

Dear Nick: 'Is anyone else feeling the strain?' The dilemma: I ended up with a client on an indoor market a few years ago, and then I was recommended to other stallholders. So I now have a few on this market. I've been chasing one client on there for records but have had no response.

Two in one: Helping clients with their resolutions and 10 for you to make yourself And what about your clients? Asking them and helping them to keep track can be a good way to build up an awareness of their hopes and dreams. Conversations around these resolutions can also then be developed into business planning sessions. Ask them too about how their resolutions have panned out in previous years.

Tax warning: Why you could end up paying £100 charge to HMRC even if you don't owe any tax TAXPAYERS are being warned to take note of an upcoming deadline, as some people could be at risk of being charged an automatic £100 penalty for being just one day late in completing their Self Assessment tax return.

Accountancy firm expands Ilkley office An accountancy firm has expanded with additional office space in Ilkley in a deal brokered by DE Commercial. The property consultancy advised private clients on the letting of 9-11 South Hawksworth Street to Wilkinson and Partners Chartered Accountants.

Pensions play a crucial role in insolvency Recent high profile insolvencies have demonstrated that a firm's pension scheme can way heavily on its balance sheets, cooperating with then is key.

What recruiters need to know about IR35 in the run-up to April 2020 Learn the ins and outs of IR35 and what recruiters can do to ensure both them and their contractors are prepared for the legislation change.

Jan 2020: Lessons for a volatile year Moving into January, the self assessment tax season is in full swing, with a few minor distractions such as the long-awaited Budget date announcement for 11 March and a spate of interruptions to HMRC's MTD for VAT application programming interfaces.

How to use the power of planning in your practice We've all heard the expression failing to plan is planning to fail. I can thank my wise AAT tutor for introducing me to that saying. There is also a saying I heard recently that "a fool with a plan, will run circles around a genius who doesn't".

The widening skill gap in accountancy The report, conducted by CaseWare, an automated accounting software provider, confirms the much talked about move of accountants into a more advisory role, working on issues like financial planning and strategy, with more manual tasks like data entry being taken up by automation.

The accountant as expert in the family court Tony Roe of Penningtons Manches Cooper and Robert Holland of James Cowper Kreston discuss the use of accountants in divorce and family law matters.

Chiene + Tait tax boss joins board of international accountancy body "I'm also pleased to announce Neil and John Rodger being appointed as the new heads of taxation at Chiene + Tait. The joint appointment of an entrepreneurial tax expert and a property sector specialist brings a new and dynamic perspective to this role." Malcolm Ward, CEO of AGN International said: "We're very pleased to welcome Neil to our board.

London 2012 helper swaps accountancy abacus for table tennis A LONG-SERVING Bromsgrove accountant who helped ensure fair play at the 2012 Olympics is swapping his times tables for table tennis for good. Martin Clark, 75, has relinquished control of Bromsgrove-based firm Martin G Clark and Co after 40 years at the helm, giving him more time to enjoy the sport he started playing as a teenager.

Smith Butler accountancy firm moves to Otley Road, Baildon A BRADFORD-BASED accountancy firm has tripled the size of its operations after moving into new premises, funded by a six-figure package.

The most challenging jobs without a degree? Solicitor, accountant and teacher ACCOUNTANCY, TEACHING and law are believed to be some of the most difficult professions to access without a university degree, according to a new survey commissioned by AAT.

Growth at York accountancy firm leads to new jobs Clive Owen LLP has grown its team as the accountancy firm gears up for a busy 2020. New partner FCCA qualified Rob Whitehead, has more than 30 years' experience in regional accountancy firms, specialises in audit, accounts and business planning. He also has specific expertise in cloud accounting and is a Xero certified adviser.

Auditors quit after being 'misled' over FAI scandal Deloitte has resigned as external auditor to the FAI after concluding it was "misled", the accountancy firm has confirmed in a filing with the Companies Registration Office.

Deloitte quits as FAI's external auditors Deloitte's specific filing in relation to the FAI said the body had contravened Sections 281 and 282 of the Companies Act 2014, which set out the rules governing how companies must maintain adequate accounting records.

Confronting tariffs: Trade war tips for CPAs For many organizations, particularly those in industries that have enjoyed low tariffs and minimal trade regulation in the past, developing an effective response to address the risks of an intensifying global trade war presents a significant challenge.

What does 5MLD mean for Accountants? The fifth anti-money laundering directive has now been passed into law with the aim of tackling the financing of terrorist groups in Europe by enforcing enhanced checks, and closely regulating cryptocurrencies and prepaid cards.

People Moves: Crowe, Mercer & Hole, Chartered IIA and more There have been several industry moves in the new year, including an interim CEO appointment at the Chartered IIA and partner promotions across the UK.

UK SMEs chasing £50bn in late payments A study led by Tide, surveying 1,000 CEOs, founders, directors, and senior management staff at SMEs has shown that small and medium size British businesses are tracking down late payments worth more than £50bn.

AccountingWEB's 2020 editorial calendar If you're an accountant or vendor with something to contribute to the site on any of the above areas, get in touch via the 'contact us' page.

Making the case for SSAP 10: Did we make any money? I don't wish to knock profit. It's important. But I also suspect that most users of accounts really do not know what it is. Some might think it's something tangible that they might see, or even physically count. But of course, it is not. It's a residual.

Order restored to private residence relief computations Helen Thornley is ATT's Technical Officer.

Technology, skills and personal brand: Accountancy professionals in 2020 Darren Buckley, Director at AJ Chambers discusses how technology is changing the accountancy profession and what skills are required to adapt.

Receipt Bank raises $73m to fund expansion North America has the largest base of accounting / bookkeeping firms across our portfolio and it is one of our largest markets." Existing investors Kennet, Insight and the CIBC were joined by new investor Augmentum, one of Europe's leading venture capital investors focusing on the fintech sector, to fund the $73m investment.

The post-Brexit Free Trade Deal the UK will get Richard Asquith is the VP of Global Indirect Tax at Avalara.

DIY claimants in an impossible position! HMRC's current policy on DIY claims is leaving claimants in an impossible position, according to a recent Tax Tribunal case.I.

Accounting software market boom to continue First-time users of accounting software had new choices from new vendors, with accountants and bookkeepers called upon to advise on software packages and combinations to their clients. But MTD was good news for established suppliers as well as the young Turks.