HMRC chief executive Jon Thompson claimed that the government department has made a “significant recovery” in its levels of customer service during a PAC grilling, just weeks after an NAO report found that its services “collapsed” in recent years. There will be a discussion on tax avoidance at Financial Director’s CFO Agenda on 28 June… Read more…
MGI Worldwide, the Top 20 international accounting network, states that mid-tier accountancy firms are steering away from audit work. They have found: Decrease in audit work taken on – 45% (2015) 50% (2014) 52 % in 2013. Due to lower profit margins, slower growth rates and higher legal risks Management consultancy or tax advisory more… Read more…
Osborne and Labour former chancellor Alistair Darling are to warn that the Treasury would be forced to unveil an emergency Budget, consisting of: £15bn of tax rises £15bn of spending cuts in the case of a vote for Brexit Osborne is expected to outline tax rises comprising of; 2% increase in the basic rate of… Read more…
Administrators fail to find buyers resulting in the fashion chain having to close of all their stores by the end of June. The close would affect around 1,000 staff in 120 locations. After the 116-year old in the business, the retailer collapsed days after BHS entered administration. Despite several proposals being put forward, they were unable… Read more…
BHS entered into administration after their administrators Duff & Phelps were unable to seek out a buyer, resulting in: The closure of 163 stores Loss of 11,000 jobs. Further 3,000 jobs of non-BHS concession employees may also be at risk. MPs partnered with the Business, Innovation and Skills Committee to launch an probe into the sale… Read more…
Research conducted by Professor Frank Hartmann of Rotterdam School of Management, Erasmus University (RSM) Hartmann states: “Managers are often guilty of pressuring their controllers to manipulate financial reporting because of personal interests such as securing a promotion or a bonus, or avoiding being fired. “This type of pressure is hard to resist by some controllers… Read more…
Kirsty McGregor, Founder of The Corporate Finance Network and The Association of Crowdfunding Experts, had the following to say: The UK of 2036 won’t look much different whether we vote in June to remain or leave. Feels the UK will have recovered from a ‘long and drawn out’ recession by then, She has… Read more…
HMRC high-value tax cases drop 15% HMRC announce 15 % reduction in high value tax cases, due to the following reasons: Naming & Shaming of companies investigated The high profile Google case The ‘crackdown’ on tax investigations To ensure you’re on the right side of HMRC contact Salhan Accountants.
The National Association of Commercial Finance Brokers (NACFB) is advising SMEs to read the fine print when seeking finance after its number of rejected lenders skyrocketed in the last two years. A growing number of so-called ‘bandwagon’ lenders and ‘flatpack’ finance providers have entered the commercial finance market and are posing a significant threat to… Read more…
July 2016 will see the introduction of a new set of tax collecting powers that HM Revenue & Customs (HMRC) will be able to use when it believes tax is due that is not covered by a self-assessment tax return. The Finance Bill 2016 heralds the introduction of a new tax assessment system similar to… Read more…
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