Accounting News

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

Accountancy firm expands into Birmingham In securing a secondary office space in Somerset House, a recently refurbished building in the heart of Birmi… You can carry on reading for free, but you have reached the maximum number of pages an unregistered user can view.

7 tips for adopting integrated reporting GAAP financial statements. Then move on to the social and relationship capital and natural capital that is the focus of ESG reporting. The four capital classes are bridged by two more - the human capital of a company's workforce and the intellectual capital employees produce.

Tax and the hissless pluck Jean-Baptiste Colbert reputedly said: "The art of taxation consists in so plucking the goose as to procure the largest quantity of feathers with the least possible amount of hissing".

3-Step guide on how to grow career by moving firms Sometimes, the best way to get out of a career rut or to get ahead at work is to move firms. A scary thought, we know, but a move brings with it new opportunities for you to grab by the horns. If moving firms is part of your strategy for getting ahead at work, here's how you can use it to accelerate your career.

True Transparency: reforming the Audit Industry The Government announced on the 11th March that it would be creating a new, enhanced regulator to transform the audit and accounting sector in response to an independent review led by Sir John Kingman.

Would you ever admit this to a Tax Tribunal? Years ago I was told the story of an accountant who took an appeal to the Tribunal on the basis that there were undisclosed mitigating circu…

2019-20 Updated : Bookkeeping & Accountancy Complete Course FIFO Method / Weighted Average Method. Recording Closing Stock. Learn Different types of adjustments, Such as :. 1) Prepaid Expenses. 2) Outstanding Expenses. 3) Accrued Incomes. 4) Advance Income. 5) Difference between the terms 'due for payment' and 'accrued' This video explains different business organizations namely,.

Big Four accountancy firms join disability inclusion campaign The Valuable 500 was launched at the World Economic Forum in Davos this year.

Key tax and accounting legal responsibilities when you're a company director When you set up a limited company - whether you were aware of it or not - as a director you took on a wide range of legal responsibilities, many linked to tax, accounting and financial record keeping. So, what are some of those key responsibilities and what do you do to ensure compliance?

Simpkins Edwards celebrates being accredited as top ten employer by British Accountancy Awards Devon-based Simpkins Edwards is celebrating with its team after being accredited as one of the UK's ten best accountancy employers by judges at the British Accountancy Awards.

Does advertising pay? Advertising has been something of a dirty word in our profession. We tend to feel far more comfortable using euphemisms such as sponsorship, marketing and PR, while branding also comes into roughly the same category.

MBO Partners and Contracting Plus - all under one Umbrella With the IR35 reforms coming to the private sector in April 2020, organisations who use flexible workers, known as Contractors, need to undertake reviews to ascertain if that worker falls within IR35 or not. Simply put IR35 legislation examines if a worker is engaged as an independent contractor, through their own business e.g.

6 must-do's to politely reject client requests It's really hard to say no to a client request, particularly when it involves an invitation for more paid work. Perhaps your schedule is full or they don't align with your values and your firm's objectives; maybe they are just a difficult client and the hassle is more than it is worth.

Accountancy firm secures growth capital and adds to board A Bridgend-based accountancy firm Mazuma has secured growth capital and made a number of senior appointments as it looks to drive forward its expansion plans. A syndicate of professional investors have backed the Bridgend-based firm alongside incremental funding from existing capital provider the Development Bank of Wales.

Strategic CFO guide to service sector forecasting Forecasting in the services industry is part art, part science, part discipline. Unlike companies that derive their revenues from products alone, service sector businesses cannot limit future projections to existing market share, inventory management and general consumption levels.

Accountancy bigwigs says lack of timetable for reform of troubled audit regulator is 'a concern' The heads of two leading audit bodies have expressed concern about perceived government inaction on the reform of the troubled accountancy regulator. Chief executive of the Institute of Chartered Accountants in England and Wales, Michael Izza, said slow progress on the reform of the Financial Regulatory Council "is something of a concern".

SMEs with women directors less likely to go bust Insolvency Practitioners, KSA Group Limited who run the website, has found that companies with mixed boards are less likely to become insolvent than those with all male boards, and all female boards. KSA looked at the insolvency rate of the UKs 1.5m companies with 2 or more directors in the last 12 months to June 2019.

Digital tax drive boosts online Bolton accountancy firm Home / North West / Financial Services / Digital tax drive boosts online Bolton accountancy firm The Government's Making Tax Digital drive has helped a Bolton accountants almost double its turnover.

How to manage a team We all like the idea of having a trusted team to fully support us within our business. But, our business owner research revealed, management teams like that are hard to find, and even more difficult to align. The idea of a team that communicated effectively and is fully aligned can often seem very far out of reach.

Heinz cans CFO: How not to Kraft a finance strategy Have you ever heard of 3G Capital? Maybe not, but I'm assuming you have heard of Budweiser, Burger King and Heinz. 3G Capital is an investment fund that controls these and some of the world's best-known brands. The 3G strategy is very focused around hard-hitting cost-cutting measures and zero-based budgeting strategies to boost financial returns.

Making Tax Digital: What's coming next? "HMRC would need to decide if it should return to it's earlier proposal of mandating those with turnover above £85,000 first - this might be easiest as many in this cohort are already filing MTD-compliant VAT return.

India - Best mobile apps for Chartered Accountancy aspirants Chartered Accountancy is one of the most sought-after and toughest professional courses in the country. TheInstituteofChartered Accountantsof India provides the three-level CA program comprising Foundation, Intermediate, Final courses.

Accountancy firm bolstered with new corporate finance partner Armstrong Watson has bolstered its ranks with the appointment of a new corporate finance partner, aimed at helping the business grow in the North East. The firm, which provides business and financial advice, has recruited Chris McCourt as corporate finance partner, to be based in the businesses Newcastle office.

Proposed regs. clarify reporting requirements for tax-exempt organizations The rulemaking mainly consolidates existing subregulatory guidance in one location, while also responding to a recent court decision that held invalid the agency's attempt to change certain donor-reporting rules.

EY executive and husband stole colleagues' IDs to fund £76,000 shopping spree Sukhbir Mawkin, 49, and Anil Mawkin, 61, from Cheam, south London, used stolen credit card details to buy phones and clothing between May 2015 to April 2019. Mrs Mawkin, who worked for the accountancy company Ernst and Young as an executive assistant, removed bank cards and driving licences from wallets belonging to colleagues.

HMRC launches IR35 attack on GSK contractors The letters to 1,500 contractors using personal service companies are classic HMRC scaremongering: sent on a mass scale with no detail and no appreciation for the law on employment status. As well as being unsigned, the letters are not even sent from a named person.

Accountancy practice creates ten jobs Home / East Midlands / News / Accountancy practice creates ten jobs Leicester-based accountants and business advisers Mark J Rees has announced it has created ten new jobs in the city this year - including three managerial positions - with more to follow.

Why BDO is 'wheelie' up for Wellbeing BDO partner Chris Grove explains how the Chain Challenge is helping to fight stigma around mental health, are raise awareness of the importance of wellbeing.

Accountancy giant Deloitte in 'SQE training contract' first First ten up for grabs from today. Accountancy giant Deloitte is making further inroads into the legal profession with a new training contract programme specifically designed for the new Solicitors Qualifying Examination.

Nothing much will change for accountants in two years, but what about ten? Firstly, it's important to note that I, of course, agree that the accounting profession is going through period of unprecedented change and that compliance work is evolving.

Ince Launches In Scotland With Accountancy Hire Office will be used by the firm's legal and tax advisory companies.

IRS offers expatriate tax relief The IRS announced procedures to allow certain individuals who have renounced their U.S. citizenship to get into compliance with their US tax obligations and obtain relief for back taxes.

Ruth Byrne, Chartered Accountant I then opted for a chartered accountancy qualification with Chartered Accountants Ireland. In Bluett Conran and Co. we deal with all aspects of a client's finances it is necessary for us to have a broad knowledge of financial matters.

Boost your resilience to avoid workplace burnout I recently found myself slightly out of my own comfort zone following the admin work involved with "going digital". I am definitely not alone with feeling this pressure.

Accounting firm Jeffreys Henry LLP joins Morison KSi London based accounting firm Jeffreys Henry LLP has united with Morison KSi, a leading global accounting association, reflecting on its desire to support clients in different parts of the world and gaining access to over 152 global member firms. The union was effective starting on the 2nd of September 2019.

Restaurant Business Systems - Restaurant Advisory - Menzies If you run a restaurant business how are you maximising your business systems to deliver accurate performance data? Read our guide.

MTD for VAT returns: a corporate viewpoint Steve Smith, Europe Proposition Lead, Corporates at Thomson Reuters answers questions regarding the usage of MTD for VAT returns completed by businesses.

What is the most frustrating aspect of your job? The writer of this column is frequently criticised for being judgmental and opinionated. On this occasion, my intention is to ask questions rather than answering them. I have spent decades working in the accountancy field and, for the most part, thoroughly enjoyed the experience.

5 signs your role in the Big 4 leads to burnout Working in a Big 4 accounting firm comes with a whole lot of respect and rewards but it's not without its challenges either. The biggest one is surviving the demanding pressure day after day whilst somehow keeping your mental, emotional, and physical health intact.

Podcast: Inside Accountancy EP01 - What skills does the accountant of the future need? In our first ever episode, our reporter Tom Lemmon speaks to Rowena Hawkes about the skills needed by the accountant of the future. Rowena is the regional business development manager at the ICAEW for South Wales and the South West.

Interview with Jean Stephens, Global CEO of RSM - Part 1 You have to really approach it with 'okay, let me understand' and then once you have that then you can start to say 'okay, here's what we're all about'." RSM does not expand for expansion's sake, and while the firm is looking to increase its global reach, there is a process to ensure that any firm that joins the group matches its values.

EY cuts growth outlook due to weak global economy Accountancy firm EY has revised downwards its economic forecast for both this year and next year on the back of weaker global outlook. EY's latest Economic Eye report said that growth for 2019 is now projected at 3.7%, down from the rate of 4.1% it had projected in June.

Accountancy firm to open new office in Manchester Home / North West / News / Accountancy firm to open new office in Manchester An online accounting firm aimed at small businesses is opening a new office in Manchester. Xero is expanding its operations to meet growing demand and Manchester will be the firm's third UK office.

New probe ordered in Positive Action case A key accountancy body has been ordered to undertake a fresh investigation into an audit of a charity by one of its members.

Domestic Reverse Charge VAT I am obviously not the only one that has spent time advising all relevant clients of the forthcoming changes in VAT legislation regarding the Domestic Reverse Charge VAT. Emails and telephone calls explaining to the builders and subbies that there is something else they have to do for the VAT / Taxman.

Why standalone software is holding back your practice It's a question as old as the industry itself: How can we reduce the amount of dead, non-billable time? Practices have spent considerable time and resources trying to find the answer. In today's market there are also new questions to consider. How do we create a practice fit for the future?

Tax accounting rules issued for advance payments The other set covers Sec. 451, which requires taxpayers that use the accrual method and have an applicable financial statement to recognize income when the all-events test is met or when the item of income is included in revenue in its AFS.

What is IR35 ? - How to check IR35 status - Menzies What is IR35 and how might this new off-payroll change impact your business? Read more on how to check if your business if impacted.

What does the future hold for tax professionals? So, what does the future hold for tax professionals? Emerging technologies like cloud computing, machine learning, AI and robotics are no longer a piece of science fiction. Enterprising fintechs are rolling out an increasingly wide range of technology solutions poised to redefine the way accountants work.

1p Fast Fashion Tax - Fashion Retailer Tax Advisory - Menzies Would a 1p tax be a quick fix for fast fashion? Rebecca Jones considers the next steps needed by fashion retailers to combat fast fashion.

Chartered Accountancy course - Enrolment deadline 15 September! We asked Nicole Feighery from Insurance to give some advice for people considering this job: - Be a problem solver, any problem big or small has a solution if you commit to finding one. Administrative people are interested in work that offers security and a sense of being part of a larger process.

New staff are appointed at accountancy firm AN accountancy firm has appointed a new associate tax director.

Four key steps to moving your accounting practice online Gabrielle Fontaine shares key steps towards MTD and how to embrace digital technology rather than grumbling and resisting the changes.

The Fish Partnership joins larger accountancy group and changes name A Buckinghamshire accountancy firm which has served the region's business community for more than 50 years is changing its name after joining the Baldwins Group last year.

TripAdvisor for accountants Before I select a restaurant or hotel, I always check the rating on TripAdvisor. In the same way, when I want to book an apartment for an overseas jaunt I go to a site like Airbnb and read through the feedback. The same applies when going to a theatre, where the man in the street should always read a review or two before making a final decision.

Four helpful tips to deal with IR35 Investigations & Determinations The end of the contractor marketplace is in sight with impending HMRC IR35 changes that make it very difficult for UK businesses to have access to a temporary skilled workforce for technology, infrastructure and general improvement projects. We can debate the pros and cons of this wholesale change in the contractor marketplace at length.

The changing face of accountancy These advances will affect all businesses and therefore we all need to be creative, proactive and flexible to cope with the opportunities and challenges that arise… and that includes your accountant too.

How a Nottingham accountancy firm has transformed its culture Home / East Midlands / News / How a Nottingham accountancy firm has transformed its culture UHY Hacker Young in Nottingham has grown significantly since it opened over 30 years ago. In the past three years the accountancy firm has continued to modernise its approach with managing partner Simon Browning at the helm.

Could PAYE for the self-employed work? There's an urban myth that many small businesses fail in their second or third year because of a failure to pay their taxes. This is sometimes known as the rock star method, named after musicians who fail to hold back money to pay year one's tax bill that falls due in year two or three.

People: Promotion at accountancy business; Big Four firm announces raft of promotions; Northern Powergrid appointment; Employment lawyer recruited; an Bussey joined the team almost 20 years ago and is part of the firm's nationally renowned Landed Estates and Rural Businesses team. He will promote the growth of rural business and estates advisory services in Yorkshire and the North East from the firm's Harrogate base.

People: Promotion at accountancy business; Big Four firm announces raft of promotions; Northern Powergrid appointment; Employment lawyer recruited; an The Yorkshire office of UK accountancy firm Saffery Champness has strengthened its senior team with the promotion of David Bussey to Director as part of its continued growth in the region. Bussey joined the team almost 20 years ago and is part of the firm's nationally renowned Landed Estates and Rural Businesses team.

Trade concerns widespread as economic outlook sags Economic expectations for the United States and the world tumbled in the third quarter amid trade concerns and indications of a possible recession, according to the third-quarter Business and Industry Economic Outlook Survey released Thursday by the Association of International Certified Professional Accountants.

India - Comparison between Chartered Accountancy and MBA in Finance Having a post-graduate degree or a professional qualification has become a necessity to have an edge over others in today's competitive world.

Accountancy firm to double workforce following major York expansion Accountancy firm Hentons has announced a major expansion of its York office in order to boost its regional growth. Situated on Acomb Road in the city, Hentons office has undergone a full renovation and expansion with plans to double the size of the office over the coming months.

Shrewsbury-based accountancy practice launch networking events Shrewsbury-based accountancy practice, CBSL Accountants, is launching a series of quarterly breakfast networking events for local businesses which will include a short topical talk.

Finance and accountancy recruitment specialist up for Women's Enterprise Scotland award A growing recruitment company which specialises in finance and accountancy is one of the finalists in the Women's Enterprise Scotland Awards. iMultiply, which was founded by Kirsty Mackenzie, is one of three finalists in the Business of the Year category.

Property lease negotiations: How finance leaders can benefit As a lease nears its end, the managing director or CEO usually starts to dream of moving to smart new premises which reflects their organisation's branding, culture, ambitions, self-perception and ability to attract and retain talent.

Accountancy firm doubles in size after Yorkshire acquisition Home / Yorkshire / Acquisitions / Accountancy firm doubles in size after Yorkshire acquisition Langricks Chartered Accountants has acquired Holmfirth-based Michael Bell and Co, for an undisclosed sum, formalising long-established ties to create a new, expanded practice.

Demand fuels fresh wave of expansion at accountancy business Home / Yorkshire / Financial Services / Demand fuels fresh wave of expansion at accountancy business Accountancy firm Hentons has announced a major expansion of its York office. The company has recruited Michelle Edwards and Thomas McCusker as accountants, along with manager Jamie Middleton and administrative support, Elle Tyssen.

Cheshire accountancy firm doubles in size after Yorkshire acquisition Home / North West / Legal / Cheshire accountancy firm doubles in size after Yorkshire acquisition Langricks Chartered Accountants, in Wilmslow, has acquired Holmfirth-based Michael Bell and Co, for an unisclosed sum, formalising long-established ties to form a new, expanded practice.

Tech and high growth IPOs: Why profits no longer matter As has been widely reported, Uber closed 2018 with an operating loss of $3bn, while high-growth WeWork, generated an operating loss of $1.7bn. Even the cash-rich Slack generated an operating loss of $154m. They're all household names and are growing at incredible rates.

New National Training Academy launched by MHA A new training academy has been launched by MHA, the UK-wide group of accountancy and business advisory firms, to provide training for 2,200 staff from its UK member firms.

5 efficient steps to build a solid networking plan Do you feel like your networking efforts are just meaningful conversations which go absolutely nowhere? Do you know how each networking event will help you achieve your personal and professional goals? Do you know how to use social media to win work and make valuable connections?

Yorkshire acquisition for Cheshire accountancy firm It represents a significant milestone in the company's ambition to be a top 100 accountancy firm by 2028. Both Michael Bell and Chris Langrick are Huddersfield born and bred and the acquisition is a natural extension of a well-established professional and personal relationship.

UAE Management Accountancy Salaries Higher Than Average in Middle East and Africa Regions, IMA Data Reveals IMA today announced the results of its 2019 UAE Salary Survey. Responses garnered from the survey positively highlight how a professional certification has a clear and definite impact on salaries in the UAE.

Grant Thornton honoured at Allianz awards for female conductor project Grant Thornton has won the best large sponsorship category at the 2019 Allianz Business to Arts Awards with its female conductor programme. The programme saw Grant Thornton join with the National Concert Hall to tackle the imbalance of women as conductors in classical music.

What is an annexe? I have spent many hours trying to answer this question this year. One case that is key to the discussion is Cantrell. But there is a complication in that the journey through the appeals system was not easy! The question started with construction works to a nursing home in Woodbridge, Suffolk.

Dundee man uses accountancy experience to assist other small businesses in the city Company director Furqan Baig is hoping to use his accountancy experience to help other small businesses in the City of Discovery. Instruo, which was set up by Furqan in April, provides accountancy support as well as training services to help other business manage their finances using a range of software.

Answering the Web's Most Searched Questions for IR35 Whether you're currently contracting, looking to contract, or just wondering what this 'IR35' is all about - this video is for you! We got Brookson Group's Compliance Director, Matt Fryer, and Brookson Legal's Managing Director, Joe Tully, to answer Google's most searched questions surrounding IR35.

Accountancy practice announces further expansion and recruitment plans Home / North West / Property / Accountancy practice announces further expansion and recruitment plans Accountancy and business advisory firm BDO has announced further expansion in Liverpool as it takes a second office in the city at One Tithebarn Street.

New jobs created at accountancy firm AN ACCOUNTANCY firm has announced a major expansion of its York office - and taken on more staff - so as to better serve the city’s fast growing…

Price Bailey shortlisted for two British Accountancy Awards London and East Anglia-based chartered accountants and business advisers, Price Bailey, has been nominated for two British Accountancy Awards.

What is IR35? The copyright of these blogs belongs to Elaine Clark of and MUST NOT be reproduced without her express permission. We are seeing numerous copies of our blogs appearing on the web sites and blogs. We're afraid that it is now time for me to take a tough stance on breaches of my copyright!

You can count on our accountancy courses Wirral Met offers internationally recognised qualifications by the Associate of Accounting Technicians at levels two, three and four. The qualifications cover practical, real-world accounting skills that you can put to use from day one.

1500 GSK contractors "guilty until proven innocent" for IR35 HMRC has issued letters to more than 1500 GlaxoSmithKline contractors accusing them of falsely working outside IR35 in 2018/19. Know your IR35 status.

Could your complacency cost you your future? Other than that annual hassle all seems good thank you. The other time when this complacency can reveal a problem is when retirement looms; that is, when the accountant realises that no one will pay sufficient for the practice as things stand.

13 things you should know about an SPV for a BTL 1) An SPV is a Special Purpose Vehicle. 2) A BTL is a Buy to Let property. 3) BTLs became less attractive after two tax changes:. 1) the increase in stamp duty on second properties and 2) interest on mortgage and loans being disallowed as a cost against buy to let income for those who are higher rate tax payers.

MTD as an impetus for change Beyond MTD for VAT, integrated systems where manual tasks are taken over by AI can save time, money and increase accuracy. That leaves tax and finance teams free to focus on other tasks, such as working on tax relief claims or forecasting. The Tax Team at University of Edinburgh were faced with this dilemma as the MTD October deadline approached.

Accountancy firm opens new office in Manchester city centre Home / North West / News / Accountancy firm opens new office in Manchester city centre Accountancy and business advisory firm MHA Moore and Smalley has opened a new Manchester office after making three senior hires.

Leadership skills for the 21st century accountant Blaire Palmer says accountants can’t rely on decades-old leadership training: they need to develop the soft skills and qualities that their j.

Sept 2019: Accounting Excellence month August defied expectations on AccountingWEB with some unexpected traffic surges. Head of Insight John Stokdyk digs into underlying trends ahead of&n.

HRC adds two seniors to accountancy and finance team Independent recruitment consultancy, HRC Recruitment, has bolstered its accountancy and finance team with two senior hires. Margaret Richmond and Lynne Macdonald have joined the team as director and principal consultant, respectively.

The 4 key roles to onboard your clients right Onboarding a new client is perhaps the most pivotal step in your relationship with them, so you want to get this right first time. To make the process clear and effortless, ultimately creating loyal and long-lasting relationships moving forward, here are the 4 key roles that you will need to involve when onboarding your clients.

Regulations clarify bonus depreciation treatment The IRS on Friday issued final regulations and new proposed regulations governing the 100% bonus depreciation deduction under Sec. 168. The final regulations finalize proposed regulations issued in August 2018 with some changes in response to comments.

Networking tips for introverts Did you know that between one-third to half of all people are introverts? This is quite ironic because, if like me, you are more introverted, it can often feel like you are the only person in the room that is shy or terrified of starting that first conversation.

Companies to face increasing number of auditors walking off the job as the accountancy industry scrambles to save its reputation The head of the UK's professional accountancy body has warned that an increasing number of auditors could start walking away from clients as the industry scrambles to save its reputation and rebuild trust.

Employment Allowance changes from April 2020 The Employment Allowance lets businesses who empoy staff a saving on their NI bill - but changes to the eligibility criteria will apply from April 2020.

Meet the new racing set: How Jessica Harrington and her two daughters are prospering in a man's world Jessica Harrington's yard, in the sleepy hamlet of Moone, Co Kildare, is anything but tired.

Meet the new racing set: How Ireland's leading horse trainer Jessica Harrington and her two daughters are prospering in a man's world "Horse racing is so risky. If you were to describe it to someone it sounds daft," she giggles. "You spend €200-€300k on a horse that is unbroken, that you don't know if it can even run a race.

Busy Week I always feel glad when the girls are back to school after the summer holidays. As much as I love spending time with them, any form of routine goes out of the window and I always feel like I'm playing catch up or do it later. The girls made a big list of all the things they wanted to do over the summer as did I.

Accountancy firm hires senior manager for Dundee team Accountancy and business advisory firm Johnston Carmichael has appointed Kirsty Yuill as a senior manager in its Dundee team. She brings more than 12 years' experience the recently opened city office from Mazars in Glasgow, where she managed a team of 10 and provided business support to over 350 clients.

What to do when the cloud goes down "It's the nature of the cloud. It is going to happen." Once an outage occurs, there's not much firms can do except wait for their cloud software provider to get things running again. But the proper advance planning can help firms stay as productive as possible in the interim.

Villa nominated in Xero NZ Accountancy Awards Villa Chartered Accountants and Business Advisors - currently based at The Orchard, Northland Inc's Business and Events Hub - was one of four national finalists competing for the 2019 Small Accounting Partner of the Year award in Wellington last week.

A tall tale told to a taxman? A tax inspector arrived at the front door of a magnificent 8 bedroom mansion in the depths of the countryside. "How have you managed to bu…

Travel and subsistence: how much can your limited company claim? Whether you're a freelancer, contractor or a small business owner, you may be called upon to work away from your normal base, occasionally or frequently. This will create travel costs for your business, while you'll also need to feed yourself. But, what are the rules when it comes to claiming for such costs?

Artificial Intelligence will positively impact accountancy, according to accountants themselves With regards to future impact, chartered accountants think that artificial intelligence will have the biggest bearing on data/trend analysis, followed by report generation and accounts preparation / auditing.

What is keeping accountants awake at night? Dave Groves, chief commercial officer at IRIS Software Group, explores some of the current trends that are playing on accountants’ minds.With the.

Scale rate subsistence and the need for evidence Way back in the 2017 Autumn Budget, came the welcome announcement that from 6th April 2019, the requirement for employers to check receipts for expenses paid under the HMRC benchmark subsistence scale rates was to be scrapped.

VAT and customs duties: The next big thing for accountants? Not only can you simultaneously please and liberally charge your own clients and hook those of your competitors but if you develop into either or both of these niche areas in a hurry, the opportunities for astronomical consultancy fees should be phenomenal.

Blaeford Richardson Ltd Guides Businesses To Success With Their Accountancy Services LONDON, UK, 2019-Aug-29 — /EPR Network/ — Blaeford Richardson Ltd.

Senior corporate finance appointment for accountancy group An accountancy and business advisory group with 11 offices across the North East has added to its corporate finance team with a senior appointment. Baldwins has hired Matt Waters as its new corporate finance officer. Waters was a merger and acquisitions manager in London before joining Baldwins in the group's Wynyard office.

Outsourcing: the financial and ethical considerations As one of the most cost-effective ways to support clients and expand services, outsourcing is a desirable option for accountants - but is it worth it?

Time to meet recession with resilience Kevin Philips argues that while it is tempting to batten down the hatches and restrict the flow of information in times of recession, responding to such pri.

8 recession signals to monitor Economy has been in a period of expansion. Stock market growth, declining underemployment and loan delinquencies helped keep Americans' personal financial satisfaction near its all-time high during the second quarter of 2019, according to the AICPA's Personal Financial Satisfaction Index, released in late July.

The definitive guide to preparing for busy season "By failing to prepare, you are preparing to fail," wise words from Benjamin Franklin. When it comes to accounting busy season, failing to prepare could result in dire straits.

Business: keeping it in the family A long-term outlook helps family firms think beyond immediate downturns and consider what's best for business. There's often a perception that the next generation doesn't want to work in the family business and they're somehow being dragged in.

Accounting reinvented: softly does it Pinpoint the skills that can help you grow both personally and professionally, and work on developing them within yourself. Harding continues:. "Technical accounting knowledge is no longer sufficient for finance professionals to succeed in the modern business world.

New client? 3 ways process helps grow your firm Are you onboarding a new bookkeeping client to your accounting firm? When it comes to business development, the client onboarding process is a process that you need to be getting right. If you don't know why, here are 3 reasons why a solid process helps grow your firm.

How to blow your own trumpet without showing off "How do I get more clients?" and "How do I get more client referrals?" These are two questions that every accountant, lawyer, and consultant have asked themselves at some point in their career. The answer, however, isn't quite as simple as they'd like.

Accountancy practice rebrands after acquisition A Thame accountancy practice which focuses on the dental sector has rebranded after being acquired by Baldwins Group last year. DBS Chartered Certified Accountants - which was founded in 1990 by George Manolescue and employs 12 staff - will now be known as Baldwins.

India - #CareerBytes: Top mobile apps for Chartered Accountancy aspirants Chartered Accountancy is one of the most sought-after and toughest professional courses in the country. The Institute ofChartered Accountantsof India provides the three-level CA program comprising Foundation, Intermediate, and Final courses.

Accountancy giant reports double digit revenue rise To register for an account, click here or login below… Haulage group replaces chief executive with immediate effect Refinancing deal will enable food ingredients firm to pay off some… Workwear specialist wins UK Fire and Rescue Service contract Investment and recruitment announced at Cheshire biotech group Innovative Merseyside firms can...

Eddie Stobart suspends trading after £2m accounting error Following an accounting investigation, logistics company Eddie Stobart discovered it had inflated its operating profits by 4% as stocks plunged to 70p.

What are free ports and low value parcels? - Brexit & import VAT - Menzies In order to manage the expected increase in the number of parcels where import VAT must be paid, HMRC will provide an online service for overseas businesses to declare and pay the import VAT owed. Overseas sellers may either register with HMRC, or pay the import VAT due to the carrier, for payment to HMRC.

What you need to know about the Trading Allowance for the self employed With the intention of making life simpler for the self employed the Trading Allowance was implemented in April 2017. The Trading Allowance is a form of Tax Relief.

How to expand your business internationally - Business Plan - Menzies Nick Farmer - International Tax Partner. When you're expanding your business overseas, it's important to fully understand the resources available to you. Nick Farmer, International Tax Partner at Menzies, specialises in helping SMEs to get established overseas, and shares some of his initial thoughts with you.

Can Ben Stokes reinvigorate your practice? At first sight, accountants may not immediately be able to reconcile Ben Stokes’ astonishing performance at Headingley on Sunday with the performance of t.

Deloitte reports revenue rise of 10.9% to £3.97bn Deloitte in the UK and Switzerland has reported a revenue of £3.97bn in its yearly report, and an increase of 10.9%, for the year ended 31 May 2019. This figure is up from £3.58bn in 2018, where the Big Four firm was second on Accountancy Age's 50+50 list of accountancy firms.

Deloitte partners receive bumper payday despite audit quality criticism Partners at accountancy giant Deloitte are set for a pay hike this year, despite heavy scrutiny over the quality of its audit work.

Accountancy is under review - how can you anticipate change? The competitiveness of the market is being investigated, as are the quality and effectiveness of the audit product, the ethicality of accountants' working practices and how the sector is regulated. Against this backdrop, firms are facing a great deal of uncertainty, but changes are already afoot which are shaping the sector's future.

Accountancy giant reports double-digit Midlands growth Home / East Midlands / News / Accountancy giant reports double-digit Midlands growth Deloitte has reported an increase in revenue by 10.9% for the year ended 31 May 2019, up from £3.58bn in 2018 to £3.97bn.

Hugh Growth Of Accountancy Software Market With Good Revenue Status till 2024 Global Accountancy Software Market Professional Survey, Growth Factors, Shares, Opportunities and Forecast to 2024.

How good are you at receiving feedback? Accounting Business Business Disciplines CPA AICPA Finance Management Tax Technology 563247 Journal of Accountancy Podcast » How good are you at receiving feedback? MP3•Episode home and bullet;Series home and bullet;Public Feed By Journal of Accountancy.

Singapore provides SME accountants with new digital roadmap Singapore's Info-Communications Media Development Authority, partnered with the Singapore Accountancy Commission and the Institute of Singapore Chartered Accountants to develop the Accountancy Industry Digital Plan.

AC Mole accountancy staff take on muddy run for Taunton charity STAFF from a Taunton-based accountancy firm had no trouble calculating how many miles they had completed during a charity run. A team from chartered accountancy firm AC Mole and Sons raised more than £500 for homeless charity, Arc, when they took part in the 5k South West Tough Madder challenge at Badminton.

It's not just clients, employees expect instant results too This doesn't have to mean young. Trainees come in all ages and packages, and some of the older generations understand tech just as much as the younger ones. Give someone a chance to learn. Mould them into the dream employee you need. Roles and job specs aren't the same as they used to be.

How to identify a successful client Every firm wants more good clients and less bad ones. But what do these actually look like? Jeremy Sidaway reveals what client attributes indicate.

A useful pre-registration input tax case This case concerned VAT incurred by Mr Derek McKee in relation to legal fees. He had a dispute with a third party over rights to software he had written and which he subsequently sold through his company Koolmove Ltd. The company recovered the input tax amounting to around £31,000.

Quiet over summer? Build your workforce plan As employees come and go on their holidays over the summer season, it presents a good opportunity for employers to reflect on their organisation's workforce plan over the next 12 months.

Accounting fun The prepayment hasn’t actually been paid yet, but it’s going to be.” - “Are you sure you’re old enough to be here?” - “We’ll fix it b…

Smith Cooper and Thomas St John appoint new directors Accountancy firms Smith Cooper and Thomas St John both appointed new directors, expanding their auditing and tax dispute resolution services, respectively.

Train Your Clients to Expect Regular Fee Increases Negotiating a fee increase is never easy; this is why it is essential to get your new clients in at the right rate from the very beginning.

Time-efficient biz networking tips for accountants It's both the key to success yet one of the biggest drains on time, time that most professionals don't have to spare.

Raise Your Accounting Fees Without Losing Clients Want to know how to announce a rates increase to clients without scaring them away? Regardless of how big your practice is or whether you're a sole practitioner working solo or you have a full team of staff behind you, it is doable and it only takes 4 steps for you to do it right.

ICAEW calls for more flexible Apprenticeship Levy SMEs in England risk missing out on bright young talent if the Government doesn't reform the Apprenticeship Levy, according to the ICAEW.

Singapore launches Accountancy Industry Digital Plan In light of the various efforts in helping industries transition towards being digitally ready, the Accountancy Industry Digital Plan was launched on 22 August 2019.

Proposed regs. govern maximum automobile 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. Consistent with the substantial increase in the dollar limitations on depreciation deductions under Sec.

PCAOB issues staff guidance on auditing estimates, specialists The PCAOB released four staff guidance documents Thursday that are designed to help auditors implement the board's new standards and amendments on auditing accounting estimates and the auditor's use of the work of specialists. The new standards will take effect for audits of financial statements for fiscal years ending on or after Dec.

Insolvency: Recognising the warning signs Directors are expected to know that continuing to trade with the knowledge of insolvency can have ramifications for them personally and it is important that they take professional advice from a licenced Insolvency Practitioner or to at least speak with their accountants.

ASB addresses challenges in auditing accounting estimates A proposal issued Thursday by the AICPA Auditing Standards Board is intended to provide auditors with enhanced guidance on auditing accounting estimates. The proposal is intended to address the challenges that auditors face when auditing accounting estimates by providing risk assessment requirements and further audit procedures that:.

How to use artificial intelligence today Nash Riggins explores what’s currently on the market, how it’s shaping the industry and the roadblocks artificial intelligence has yet to overcome.

Poor auditing not just the Big Four's domain Philip Fisher examines the latest Institute disciplinary reports and asks: why do firms bother with audit?It may not always seem like it but this.

Stables Thompson & Briscoe acquires accountancy practice An accountancy firm has announced the acquisition of another practice. Stables Thompson and Briscoe, in Kendal's Lowther Street, has bought J Noel Paul and Co, in Kirkby Stephen. Stables Thompson and Briscoe employs 12 people and has been in existence since the 1930's.

Project accounting in construction business - IFRS 15 accounting - Menzies There are a number of construction businesses that are still failing to meet some of the key requirements of long-term project accounting and this lack of understanding can place the business at serious financial risk, potentially leading to business failure and/or wrongful trading.

Offshore UK property ownership checks - Offshore advisory - Menzies Are you an overseas owner of UK properties? HMRC are contacting tenants and owners of properties owned offshore to check tax status.

FASAB clarifies cleanup cost liabilities guidance The Federal Accounting Standards Advisory Board issued an interpretation of Federal Financial Accounting Standards to assist in the application of cleanup cost liability standards at the component reporting entity level.

Determining materiality for nonquantitative subject matters The working group was formed to:. Burton said ASEC has a responsibility to provide CPAs with the tools they need to perform new services in a quality manner. He said understanding how materiality is considered during these engagements is critical.

Associate tax director appointed at thriving North East accountancy firm "It is an exciting period of growth for the firm and it is great to be a part of the development of a strategy for regional business." Liz will be working closely with the North East tax directors in assisting their clients to manage their affairs in the most tax efficient way.

VAT and the upside of Brexit In this sponsored article, Bloomsmith - a VAT bridging loan provider for commercial properties explain how there could be some VAT-related upsides to Brexit.

How to sell your business in style There's no one route to selling your business, but there are actionable steps that will help you set up robust financial systems to get the best deal. Not having good, detailed management information is a common mistake for owners who are aiming to sell up.

Huddersfield accountancy firm hosts summer tennis event A Huddersfield-based accountancy practice will host a tennis event for the local business community at Huddersfield Lawn Tennis and Squash Club on 30th August 2019. Crowther Chartered Accountants will welcome more than 44 local professionals to enjoy a full day of sport, networking and refreshments.

Circular economy: Is the linear food system ripe for disruption? Wake up and smell the Circular Economy! In his latest column Yogesh Patel argue.

Basic accounting tips for small limited companies There are about 5.7m SMEs in the UK, according to government figures. Although most are sole trader businesses and 405,000 are ordinary partnerships, there are 1.9m private limited companies, about a third of the UK's total business population. When they start a business, for various reasons, many people choose to set up a private limited company.

In focus: Payroll In this Q&A, Tom Hammond, vice president, Corporate Strategy and Product Management for Paychex Inc., discusses common payroll considerations for CPA firms. What should a CPA firm look for from a payroll partner?

Tilney and Smith & Williamson confirm merger talks Competitors Tilney and Smith and Williamson have both confirmed they are in talks over a possible merger following media speculation. A merger between Tilney, a financial planning and investment firm and S&W, a professional services firm, would form a £45bn group and become one of the largest wealth managers in the UK, in terms of assets managed.

Accountancy firm takes on seven new graduates The new intake will work across all of the firm's offices, with two trainees based in Dundee, Forfar and Glenrothes respectively and one in Cupar. The investment in trainees will support the further expansion of the firm which has seen its turnover grow by almost 95% over five years to £7.5 million.

Are you undermining your credibility by being too modest? Related Posts:Don’t invest more time on social media until…10 mistakes to avoid when you are pitching for workHow should I reference fees on my website?10 tips to help sole practitioners reduce debtor…Debunked: The one thing you must do….Should I focus on my logo or my face?

Planning for a Mortgage when Self Employed Securing a mortgage can be hard enough at the best of times. Couple that with being self employed and the whole process could turn into a bit of a nightmare unless you're well prepared. We regularly help clients with providing an accountant's reference which most lenders will require if you are self employed.

How I learned to stop worrying and love networking If you’d told me 10 years ago that I’d gladly pay to spend a weekend networking in a field, I would have laughed at you. Last month though, that.

How to avoid sleepless nights worrying about HMRC catching you out on your Tax Scheme If you're involved in tax avoidance that should be disclosed under the disclosure rules, you must let HM Revenue and Customs have information about the scheme. This helps us to:. If you don't tell HMRC about a scheme that must be disclosed you could be liable to a penalty.

The Secret Contractor - A Guide To Managing Clients Here are some tips on keeping everybody happy, including yourself. A sole trader commissioning you will have very different pressures on them to someone in a highly political corporate setting. There may be unique sign-off procedures or budgeting factors to consider.

Clear Books becomes an AISP ahead of upcoming PSD2 deadline Accounting software provider Clear Books has registered with the Financial Conduct Authority to provide Open Banking bank feeds for more than 12,000 small businesses, becoming PSD2 compliant.

Mining crypto - a free lunch? Etoro explain whether cryptoassets acquired are likely to be considered taxable by HMRC and provide a handy crypto tax calculator tool too.

Five reasons you will need an accountant for your limited company I have been in the accountancy profession long enough to know that not everyone is a fan of spending their hard earned cash on using us to deal with their accounting needs.

Tips for overcoming workplace dysfunction Accounting Business Business Disciplines CPA AICPA Finance Management Tax Technology 563247 Journal of Accountancy Podcast » Tips for overcoming workplace dysfunction MP3•Episode home and bullet;Series home and bullet;Public Feed By Journal of Accountancy.

Make sure you get the referral, not your partner There's nothing worse than putting in the work and the hours only to get overlooked for a referral. It's a crushing feeling, especially when it goes to your partner instead. What did they do that you didn't? While it might feel like you did everything you could, you may be missing a few key areas where they overshadowed you.

Notice of Security - no reason given In a shocking case, HMRC had issued a Notice of Security against a Mexican restaurant for around £29,000. The Tribunal commented: "This is an appeal by the appellant, Pachangas Mexican Restaurant Limited, against a decision of the respondents requiring the appellant to provide security in the sum of £29,450 against future VAT sums due.

Price reduction and VAT HMRC have announced changes in the way price alterations must be accounted for. This in their Brief 6/2019. The background appears to be case law concerning a number of companies involved in SDLT avoidance schemes; Inventive Tax Strategies Ltd, Professional Advice Bureau Ltd, Sterling Tax Strategies Ltd, and Bell Strategies Ltd.

Interpreting Financial Data - FD Advice - Menzies Phil Wright explains how FDs and financial controllers can maximise the potential of their financial data to make better business decisions.

Audit news round-up Deloitte has already done work for Sports Direct, KPMG's existing portfolio rules them out, EY has a role on the House of Fraser administration and PwC has reservations following recent fines and the company's ownership structure.

MNEs face increased transfer pricing fines from HMRC MNEs are facing a tenfold increase in fines coming from HMRC to regulate transfer pricing agreements, following the launch of a new government tax facility.

Hosted accountancy software firm iNSYNQ offers ransomware post-mortem Inside the incident response to a MegaCortex attack. Cloud desktop and hosting provider iNSYNQ has offered a post-mortem on a ransomware attack that left accountants and small businesses temporarily unable to access accounting data and other files for several days last month.

VAT and the cashless society Another possible benefit is that cashless businesses will be recognised by HMRC as being a lower risk for compliance purposes than, say, a fish and chip shop that only keeps a manual till to record its takings and only accepts cash.

Texting - a trainee accountant's mistake. True story. A salutary lesson about how to not follow up after an interview was contained in an article in the Sunday Times about the 'explosion in text…

GASB issues lease accounting implementation guide GASB issued an implementation guide Thursday that contains questions and answers about the board's new lease accounting standard for state and local governments. Implementation Guide No. 2019-3, Leases, provides guidance for preparers on how to apply the rules in GASB Statement No.

Underpayment penalty relief now automatic for eligible filers Some taxpayers who were eligible for but did not claim a waiver of underpayment of estimated tax penalties in 2018 will receive refund checks because those penalties will be automatically waived, the IRS announced Wednesday.

FASB proposes delays in 3 key effective dates Certain financial statement preparers would receive the benefit of effective date delays in FASB's accounting standards for leases, hedging, and credit losses under a proposal the board issued Thursday.

A-level results spur accountancy firms to embrace school leavers A-level results across the UK have fallen to the lowest levels since 2007, and accountancy firms are capitalising on the diverse talent of school leavers.

Payroll for small businesses: what you need to know Howlader and Co discusses the purpose, rules and operating of payroll, PAYE deadlines, using payroll information and how to stay secure.

FinREC issues credit loss standard working drafts Accounting Standards Update No. 2016-13, Financial Instruments - Credit Losses : Measurement of Credit Losses on Financial Instruments, established a new current expected credit loss, or CECL, model that is designed to make accounting for credit losses more forward-looking.

Are HMRC taking stock of MTD? I responded to every HMRC MTD consultation. HMRC did react to the first consultation by watering down the entry threshold and permitting spreadsheets. Personally I felt this defeated HMRC's argument for MTD because spreadsheets are more prone to errors than manual records.

GT in the news again, ML is out of hibernatation Https://

Accountants: Tips for speaking with confidence I have worked one-to-one with many advisers to help them develop and fine-tune their speaking and interview skills, and while everyone is different and needs different help, there are three simple tips which anyone can follow to improve their presentations.

A-levels are not the only route into accountancy Cue teenagers jumping in the air clutching their exam results: it’s A-level results day. As accountants relive exam stresses of yesteryear, B.

What is a Year End? Your accounting date is also known as the accounting reference or year end date. It is the date up to which your accounts are prepared and is generally the end of a calendar month although it can be any date. For example 31st December or 31st March.

Accountancy firm invests in Birmingham relocation "2018 was a good year for the business and, following the recent acquisition of Michael Kay and Company, we needed a new Birmingham home that could house the larger team and help us with planning for future growth," explained Darren Holdway, managing partner at Haines Watts Birmingham.

Change is the only constant Yeah, I know the title is such a common cliche but I feel like so many changes are happening at the moment. The girls' summer holidays are almost over and even though I had decided to take the summer holidays off before I started looking for a new job, this reality is getting closer.

'Business Automation' for Accountants Hi everyone, I have been an accountingweb member for several years now but the whole blogging thing is completely new to me on here! Please be gentle. The reason I am writing this post is to highlight what 'Business Automation' actually is within my context of the meaning for accountancy practices.

Would accountants really choose time over money? Philip Fisher tackles the thorny issue of work-life balance and asks, given the option would accountants really choose to work less and receive less pay?

5 tips to improve your SME recruitment strategy For owners of small and medium enterprises, the recruitment quest has never been tougher. A 'perfect storm' of factors - including record-low unemployment, Brexit and the shifting expectations of millennials - means employers are having to work harder and smarter to attract staff.

Leaving Cert students urged to take advantage of accountancy skill shortage Leaving Cert students are being urged to take advantage of a skills shortage in financial services by choosing a degree relevant to the sector.

Business workshops run by Malvern accountancy firm AN accountancy practice is offering new workshops offering business advice. Turl and Co's new Digital Marketing Assistant Isobel Smith will be showcasing the benefits of Turl and Co's new workshop offering, whilst increasing awareness of its small business accountancy service throughout the region.

Cybersecurity: So you've been breached - what now? It’s a sad reality of our current time that a security or data breach can be.

What are Accounts? There are many definitions but simply put your Accounts are the documents showing exactly how your business is performing in financial terms. Every business, whether a sole trader or a limited company, must keep accounts and accounting records.

Accountancy firm's business advisory team hits £1 million in fees What the firm described as a flurry of new business activity had resulted in a rise in fee income from last year and it said the team was on target to achieve 20 per cent of the overall AAB group income of £26 million for the financial year 2019/2020.

When to inform and meet client to raise their 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.

Steinhoff plans to sell off assets following accountancy scandal South African retail giant Steinhoff is set to cut its debt and trim down its assets to focus on retail investments after a previous $7bn accountancy scandal.

Sports Direct auditor quits after huge tax bill Grant Thornton has audited the company's accounts since 2007, but the break-up comes weeks after the release of Sports Direct's annual results was delayed due to a €674m tax claim. The day before Sports Direct was due to release its results, which had already been delayed once, it discovered the hefty demand from Belgian tax authorities.

Report finds shift in accounting firm hiring Nonaccounting graduates constituted 31% of all new graduate hires in public accounting in 2018, an increase of 11 percentage points over 2016, according to the 2019 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits report released Tuesday.

Accountancy sector encouraged to think about future talent recruitment The wave of Generation Z talent entering the workforce is placing high importance on financial literacy and entrepreneurship, according to new research - with the accountancy sector encouraged to do more to attract new talent from all backgrounds. Commissioned by AAT, the study surveyed 16 to 24-year olds across all socio-economic backgrounds.

Rules proposed for classifying cloud and digital content transactions The IRS proposed regulations to clarify how to classify transactions involving digital content and cloud computing.

Tax 'madness' over accountancy costs A Welsh livestock farmer whose accountancy bill has nearly trebled since the tax reporting system was overhauled says the financial fallout of the new arrangements is crippling for family farms.

A Finanace Director's guide to auditing in high-growth organisations The audit process for a growing business can feel particularly onerous. A developing finance team works hard to build controls and processes that don't hold the business back but are still able to monitor and steer its progress forward. And compliance-focused audits can feel, from both time and cost perspectives, poor value.

The psychology of influence: How to get your reccomendations heard Want to influence but feel like the rest of the business just isn’t listening.

Being Known, Liked and Trusted is not sufficient. There are 5 steps in the chain. Related Posts:The 3 key steps to effective promotion of your practiceWhy do accountants need to be enthusiastic?Ten practical tips to avoid negligence claimsHas your practice plateaued?16 ways that accountants can improve their efficiencyPreparing for the future the right way.

State accountancy board member charged with embezzling funds from 3 Ontario law enforcement nonprofits A West Covina man who formerly served as president of the California Board of Accountancy and chaired its ethics committee has been charged with embezzling thousands of dollars from three Ontario law enforcement nonprofits he helped establish.

Coalition launched to protect professional licensing The coalition, the Alliance for Responsible Professional Licensing, is designed to educate lawmakers on the need to maintain standards for highly complex, technical professions such as accounting that have a clear impact on the public's fiscal health and welfare.

Worldwide Opportunities In Accountancy Software Market 2019 With Market Size, Growth Till 2024 Get comprehensive research providing detailed regional analysis and growth outlook of the Global Accountancy Software Market in the latest research report added by Big Market Research. The report is an exhaustive analysis of this market across the world.

Wellness, bookkeeping and the recipe for success Before I set up That's Ideal, I trained in reiki and achieved the level of Reiki Master. From hiring a small room and selling a few crystals, it grew into having a market stall and eventually two shops and my own therapy centre. The whole thing came about due to my mum's illness - she had cancer and was finding peace and rest through reiki.

Is our tax system perfect? Is the tax system perfect? Of course not. Is it as hopeless as portrayed? nowhere near.

How CPAs can help family businesses with succession planning Accounting Business Business Disciplines CPA AICPA Finance Management Tax Technology 563247 Journal of Accountancy Podcast » How CPAs can help family businesses with succession planning MP3•Episode home and bullet;Series home and bullet;Public Feed By Journal of Accountancy.

Huddersfield accountancy firm awarded Eaton Smith's Business of the Month Huddersfield-based accountancy practice, Crowther Chartered Accountants has been named Eaton Smith's Business of the Month in August 2019. Crowther Chartered Accountants will join judges of the awards at a networking and presentation breakfast at Eaton Smith's offices on 8th August 2019.

14 things talented accountants do to get promoted How is your career growth? Are you moving up as you should be? Do you often find yourself asking "How can I get ahead in my career?" If you do, take a look at what the most successful accountants are doing. What do they do that separates them from the rest?

Ft: Awol Apologies for the radio silence. I was incredibly busy over the past few weeks. In my previous post, I mentioned I will update you with my thoughts on Xero and QuickBooks comparison. I will. I need a little more time. I have not even started my QuickBooks recertification.

Record fall in number of non-domiciled taxpayers "Brexit could to be a factor in discouraging non-doms from settling in the UK and prompting some to leave. These people are very geographically mobile," said Widdows. "It is likely that many non-doms will have looked at the political and economic uncertainty in the UK and decided that they are better off elsewhere.

Small businesses more likely to overpay taxes than be fined Small businesses are 56% more likely to overpay their taxes due to mistakes when filing for VAT than they are to be fined for not paying enough, according to research from QuickBooks.

I work for a Big Four accountancy firm but want to be a corporate lawyer Early career changer requires readers' advice. In the latest instalment in our Career Conundrums series, one career changer is looking to put down the calculator and pick up the law books. If you have a career conundrum, email us at [email protected]

How business owners improve bookkeeping and reduce accountancy fees How can you strike a balance and prepare your books correctly in order to reduce your accountancy bills, and still get some time off at weekends? Here some way to save time and money:. Ask your accountant what you can do to lower your accountancy fees.

Akintola Williams, doyen of accountancy in Africa clocks 100 years Akintola Williams is the doyen of the accountancy profession in Nigeria. As a seasoned entrepreneur and professional, he set up a chartered accounting firm which gained businesses from other indigenous firms.

Team USA boost for accountancy firm A Shropshire accountancy firm has enlisted three new faces to work with clients from all over the USA - without setting foot outside their Shrewsbury office.

CIOT calls on HMRC to delay VAT reverse charge In a letter sent to HMRC, the CIOT presented its concerns about the new VAT reverse charge, which is set to be introduced from 1 October 2019.

Direct and immediate link A fruit farming business sought to invest its accumulated profits. It entered into a short-term loan to earn interest, a VAT exempt activity.

Crunch to roll out accountancy on its new freelance bookkeeping network Crunch, the Brighton-based online accountancy service, plans to roll out its new freelance network to accountants as well as bookkeepers. Until now, Crunch has employed 50 accountants in-house at its office. Around 11,000 customers pay monthly to subscribe to Crunch's online accounting platform.

RSM appoints new director in Birmingham James Roberts joins RSM from EY, bringing the Top-10 firm his experience in financial reporting and risk assurance gained from his work in the financial services sector. Mark Taylor, RSM's regional managing partner for the central region said: "I'm delighted to welcome James to the team.

How to get out of your career rut Feeling stuck in a career rut? Do you feel like you're spending your days working just on work and you don't have time for anything else? It is pretty common for accountants in practice to feel overwhelmed with work. However, this leads to not spending the time that you should in your career.

MTD: just 12% of decision makers feel 'very prepared' The deadline for the government initiative, Making Tax Digital, has now passed, but there are still concerns over how many businesses have adapted to the change. As of August 7, MTD is now mandatory for all businesses with a turnover of £85,000 or more, removing the option to do it on paper.

Cheshire Oaks accountancy firm staff in Tour De France distance cycle challenge ACCOUNTANTS at a Cheshire Oaks based firm are adding up the miles this month as they pedal the equivalent distance of the Tour De France. The team from Morris and Co Chartered Accountants are taking to two pedals in the charity cycle as part of the national Great British Franchise Cycle campaign.

Mazars make the case for joint audit - Part 2 In part 2 of the series Mazars' UK Head of Audit, Bob Neate, talks about why joint audit is better than shared audit and why he's so passionate about it.

Accountancy firm invests £60,000 in IT upgrade Home / West Midlands / News / Accountancy firm invests £60,000 in IT upgrade Infinity's operations director Lee Hayes and Matt Bailey, managing director of Howards. An accountancy firm has invested over £60,000 in upgrading its IT infrastructure to combat cyber threats and protect client data.

Accountancy firm welcomes 'positive response' from Dundee business sector Scotland's largest independent accountancy and business advisory firm has signalled its commitment to the Dundee community as part of its operation in the city.

10 best UK universities to study accounting It may not sound like the most glamorous job, but accountants are key players in keeping any business afloat. Their role is to record, interpret and communicate the financial information about a business, so it can continue to operate efficiently. If you have a meticulous, mathematical mind then this may be the career for you.

Thursday Papers: accountancy firms prepare to cull risky clients And short-seller’s savage attack on Burford Capital in a new blow for Neil Woodford.

Mortgage Prisoners: 800,000 homeowners urged to switch to cheaper mortgages The City Regulator has put forward recent proposals to help 'mortgage prisoners' which currently affects an estimated 120,000 households in the UK.

HMRC seeks data from Crypto Exchanges to combat tax evaders HMRC is pressuring crypto exchanges to provide customer data and transaction histories in order to claim unpaid taxes crypto-traders may owe. Three exchanges that do business in the UK - Coinbase, eToro and CEX.IO - have reported that they have received letters from HMRC in the last week requesting the data.

How to make well-being part of your business culture Well-being is good for business. Well-being is becoming an increasingly important issue for organisations to address. It affects every business and the statistics can no longer be ignored. Every leader wants to attract and then keep good people - for longer periods of time - so they can sustain strong organisational performance.

Five Common but INCORRECT myths about accounts and tax All business income regardless of how small must be declared in your accounts and on a tax return even if you end up making a loss and / or there is no tax to pay. As accounts are prepared on an accruals basis this is incorrect. The accruals basis is a complex concept of accounting and confuses many although it is essential to follow this.

Late payments: The need for action - interview with Dr Louise Beaumont Following the ICAEW's release of statistics from the Business Confidence Monitor and their call for help from No. 10 to assist businesses with the growing problem, we spoke with Dr Louise Beaumont, an independent chair, adviser, investor and expert on the subject of late payments, and where the issue currently stands.

UK accountancy firms prepare to cull risky clients Auditors warned that companies in volatile sectors, such as retail or outsourcing, and businesses that have faced criticism over their financial controls and governance were the most likely to be dropped. PwC started a review of its audit book in June.

IRS changes its third-party contact procedures The Taxpayer First Act changed Sec. 7602. Prior to amendment, the section merely said that the IRS must provide "reasonable notice in advance to the taxpayer" before making contact with a third party. Amended Sec.

Late payments on the rise: ICAEW urges No.10 to help The ICAEW has urged Boris Johnson's new Government to help businesses with the increasing problem of late payments faced by SMEs. The latest BCM showed that business outlook remains negative, with late payments from customers a key and growing concern among businesses, and particularly SMEs.