Economia News

BP pay record fine for oil spill

Fri, 16 Nov 2012 11:30:00 Z

BP to pay record £2.8bn fine over Deepwater Horizon oil spill

Brazil: at a glance

Thu, 12 Jan 2012 00:00:00 Z

In the first of our overseas profiles, we take a whistlestop tour of Brazil

SMEs receive £40m investment boost

Fri, 16 Nov 2012 12:28:00 Z

Business minster Michael Fallon announces a £40m investment in high growth potential SMEs

Unemployment drops as benefit claims rise

Wed, 14 Nov 2012 12:04:00 Z

Unemployment has dropped to its lowest level for a year, but the number of people claiming benefits has increased

Banks admit mis-selling hedging products to SMEs

Fri, 29 Jun 2012 00:00:00 +0100

Big four agree to compensation for "structured collar" products

EC says UK must prioritise growth

Wed, 30 May 2012 00:00:00 +0100

Report also reveals fears over the health of the eurozone

Financial Services Bill 'drafted too broadly'

Thu, 02 Feb 2012 00:00:00 Z

The Financial Services Bill needs to go further to prevent another UK financial crisis

Draft directive will impact UK business

Thu, 14 Jun 2012 00:00:00 +0100

EC proposals for a Posting of Workers Enforcement Directive are likely to have a significant effect on businesses

New moves to conquer financial crime welcomed

Fri, 17 Feb 2012 00:00:00 Z

HM Treasury has welcomed recommendations in the fight against financial crime

What the Budget means for tax

Wed, 21 Mar 2012 00:00:00 Z

John Walker, chairman of the FSB, examines what the budget means for tax

Companies contend with fewer indirect tax changes

Thu, 26 Apr 2012 16:55:00 +0100

The global indirect tax burden has eased over the last three months, research from Thomson Reuters shows

Eden Project's Gaynor Coley urges courage in sustainability debate

Wed, 28 Mar 2012 00:00:00 +0100

Gaynor Coley from the Eden Project urges profession to find true identity

Accountant sues client over £800 coin payment

Tue, 15 May 2012 00:00:00 +0100

An accountant has successfully sued a client who attempted to settle an £800 bill in coins

London councils consider pooled pension fund

Tue, 10 Apr 2012 00:00:00 +0100

Plans are being proposed to establish a pooled pension fund for London’s councils

AADB drops Lehmans case against Ernst & Young

Fri, 22 Jun 2012 00:00:00 +0100

Ernst & Young will not face disciplinary action over its work in connection with Lehman Brothers

EU agrees to new banking rules

Wed, 16 May 2012 00:00:00 +0100

The European Union has agreed to rules that regulate the amount of capital banks need to hold

Deloitte launches digital arm

Mon, 14 May 2012 00:00:00 +0100

Big Four firm Deloitte is launching a new division today to provide clients with technological and digital advice

BCCI liquidation ends after 21 years

Fri, 18 May 2012 00:00:00 +0100

The liquidation of the BCCI bank is over after 21 years

Heseltine issues growth challenge to government

Wed, 31 Oct 2012 00:00:00 Z

Lord Heseltine has issued a set of challenges to government to improve the UK’s ability to create wealth

ICAEW member expelled

Tue, 03 Apr 2012 00:00:00 +0100

Stuart Pearson thrown out over collapse of Langbar International

HMRC toughens up SAO regime

Tue, 01 May 2012 00:00:00 +0100

Companies will no longer be eligible for SAO light touch approach

Jimmy Carr admits to "terrible error of judgement"

Thu, 21 Jun 2012 00:00:00 +0100

Comedian seeks to limit damage from controversial tax arrangement scheme

KPMG says EC proposals undermine audit quality

Fri, 08 Jun 2012 00:00:00 +0100

Audit reforms are likely to achieve “precisely the opposite result to that intended”

What does the budget mean for pensions?

Wed, 21 Mar 2012 00:00:00 Z

Lindsay Pentelow of Mazars examines what the budget means for pensions

Inflation falls in May

Tue, 19 Jun 2012 00:00:00 +0100

Annual inflation in May fell to 2.8% – its lowest rate since November 2009

LumeJet secures £1.87m in major funding round

Mon, 25 Jun 2012 00:00:00 +0100

Specialist printing comapany plans to create 100 new jobs by the end of 2014

ICAEW looks for committee volunteers

Mon, 16 Apr 2012 00:00:00 +0100

ICAEW is looking for members interested in filling vacancies on some of its quasi judicial committees

Big Four audits improve

Fri, 15 Jun 2012 00:00:00 +0100

The FRC's Audit Inspection Unit has seen improvements in the way the Big Four carry out audits

UK service sector growth stagnating

Wed, 04 Jul 2012 00:00:00 +0100

Growth in the UK service sector has fallen to an eight-month low

P45 form saved by HMRC

Tue, 07 Feb 2012 00:00:00 Z

The P45 has been saved after HMRC decided not to replace it with a ‘leaver statement'

£2.9m boost for SME research centre

Tue, 22 May 2012 00:00:00 +0100

New research centre to help drive government policy for small and medium-sized enterprises

New emissions reporting rules welcomed

Wed, 20 Jun 2012 00:00:00 +0100

The government has unveiled plans to require FTSE companies to publish data on the greenhouse gases they emit

E&Y reports revival in M&A market

Fri, 29 Jun 2012 00:00:00 +0100

Activity in mergers and acquisitions is showing tentative signs of revival, according to Ernst & Young

BCC revises growth forecast downwards

Fri, 01 Jun 2012 00:00:00 +0100

The British Chambers of Commerce (BCC) has revised its forecast for UK economic growth this year down to 0.1%

Eurozone fears hit CFO confidence

Mon, 09 Jul 2012 00:00:00 +0100

FDs record sharpest decline in confidence since 2007

In other news…

Fri, 02 Mar 2012 14:21:00 Z

economia’s take on 20-24 February

Consumers still wary of mobile payment

Thu, 29 Mar 2012 00:00:00 +0100

Security concerns are still holding back a rise of mobile payment

Cameron prepares economic growth plan

Mon, 03 Sep 2012 08:30:00 +0100

Prime minister David Cameron has said he is preparing a series of measures designed to stimulate economic growth

Calls for Cameron to boost High Streets

Tue, 11 Sep 2012 12:30:00 +0100

British Council of Shopping Centres urges action in open letter to David Cameron

Child benefit cuts cost families £50,000 says PwC

Thu, 01 Nov 2012 11:18:00 Z

Cuts to child benefits could cost a family with three children £50,000

Charities award nominations announced

Thu, 31 May 2012 00:00:00 +0100

Cancer Research UK among 21 nominees for 2012 ICAEW Charities Online Financial Reporting Awards

Budget 2012 reactions

Wed, 21 Mar 2012 00:00:00 Z

What do business and industry leaders think of the budget?

E&Y forum discusses plans for recovery

Fri, 27 Jan 2012 00:00:00 Z

Ernst & Young host a policy forum to discuss opportunities for growth

What the budget means for investors

Wed, 21 Mar 2012 00:00:00 Z

David Petrie of the ICAEW considers today's budget for investors

Mazars: British entrepreneurs tempted to emigrate

Tue, 10 Apr 2012 00:00:00 +0100

America is the place to be if you are a British entrepreneur, according to research

M&A shows signs of growth

Fri, 06 Jul 2012 00:00:00 +0100

Total value of deals increases 20% compared with 2011 figures

Alison Carnwath quits Barclays board

Wed, 25 Jul 2012 00:00:00 +0100

Alison Carnwath resigns as chair of Barclays pay board

In other news…

Fri, 24 Feb 2012 00:00:00 Z

economia’s take on 20-24 February

Cable presents Enterprise Bill to Parliament

Wed, 23 May 2012 00:00:00 +0100

Cable says Enterprise Bill will boost British enterprise

Deadline looms for HMRC annual returns

Mon, 30 Apr 2012 00:00:00 +0100

The deadline is looming for UK employers to get their 2011/12 annual returns to HMRC

Canadians enter the audit debate

Fri, 08 Jun 2012 00:00:00 +0100

Canada wants a voice in the international audit reform debate

Accountants worried about delayed payment of tax rebates

Tue, 03 Apr 2012 00:00:00 +0100

Survey reflects unease about HMRC's efficiency

German standard-setter joins IASB

Fri, 18 May 2012 00:00:00 +0100

German accounting standard-setting expert joins IASB

IASB and FASB agree leases approach

Thu, 14 Jun 2012 00:00:00 +0100

The international and US standard-setters have agreed a proposed approach to putting leases on to the balance sheet

Calls to bring in Chapter 11 for small business

Fri, 13 Apr 2012 00:00:00 +0100

The UK lets down entrepreneurs with its unsupportive bankruptcy laws, according to the Free Enterprise Group

Lloyds economist says Greek exit could be for the best

Wed, 16 May 2012 00:00:00 +0100

The chief economist for Lloyds Bank warns that UK growth could be revised downwards amid euro gloom

Christine Lagarde accused of hypocrisy on tax

Wed, 30 May 2012 00:00:00 +0100

Christine Lagarde has been accused of hypocrisy over her tax payments

G20 needs permanent establishment

Mon, 21 May 2012 00:00:00 +0100

Focus on the fundamentals, says the institute

EC wants to criminalise Libor abuse

Mon, 09 Jul 2012 00:00:00 +0100

Barnier wants to include manipulation of indices in draft anti-market abuse law

CfEL appoints new chairwoman

Tue, 31 Jan 2012 00:00:00 Z

CEO of The Alchemists to assume lead non-executive role at fund management company

Malta to offer ACA training

Wed, 04 Jul 2012 00:00:00 +0100

ICAEW has added Malta to the growing list of countries where students can train to become ACAs

BFA discusses help for small businesses

Fri, 27 Jan 2012 00:00:00 Z

Parliament's Business Finance and Accountancy group discusses help for small businesses

Government publishes tax figures

Mon, 16 Apr 2012 00:00:00 +0100

The government has published figures detailing how UK tax is paid

Industry criticises IHT freeze

Tue, 12 Feb 2013 11:48:00 Z

Accountants have warned that freezing inheritance tax threshold will not raise an extra £1bn per year

HMRC wins Goldcrest tax scheme case

Fri, 01 Mar 2013 13:13:00 Z

A tax avoidance scheme promoted by GoldCrest Pictures has been thrown out by the Tax Tribunal

New ICAEW VP chosen

Tue, 12 Feb 2013 09:00:00 Z

PwC audit partner Andrew Ratcliffe is to be the ICAEW’s next vice president

Backlash over EU bonus cap

Fri, 01 Mar 2013 14:14:00 Z

There has been a backlash from the City following agreement to cap bankers’ bonuses across Europe

Mazars urges reform ahead of Commission report

Mon, 18 Feb 2013 16:53:00 Z

Mazars has called for audit reforms to create “a level playing field” ahead of Commission findings

ICAEW appoints Andrea Dunhill

Wed, 23 Jan 2013 14:56:00 Z

ICAEW has appointed Andrea Dunhill as the new London and South East regional director

FRC chair announces departure

Wed, 08 May 2013 12:40:00 +0100

Baroness Hogg is to step down as chairman of the Financial Reporting Council as soon as her successor can be found

Banks "disappoint" with investment advice

Wed, 13 Feb 2013 10:21:00 Z

The quality of investment advice of large retail banks and building societies is not up to scratch, the FSA says

Facebook reports $157m loss

Fri, 27 Jul 2012 00:00:00 +0100

Staff share scheme to blame for poor earnings performance

HMRC reports 14% will pay top rate of tax

Tue, 01 May 2012 12:46:00 +0100

The proportion of taxpayers paying at the highest rate of tax has risen to 14% from 10% a decade ago

BIS consults on collective redundancies

Fri, 22 Jun 2012 00:00:00 +0100

The government has issued proposals to reform the rules on large redundancy consultation

HMRC in dock over Goldman deal

Wed, 18 Apr 2012 00:00:00 +0100

UK Uncut wins review of HMRC's deal over National Insurance

Abolishing Audit Commission will save £650m

Mon, 30 Apr 2012 00:00:00 +0100

Abolishing the Audit Commission will save millions

'Budget is for tomorrow' says ICAEW chief

Mon, 12 Mar 2012 00:00:00 Z

The budget signals the UK is open for business, says ICAEW's Micheal Izza

Finance sector receives £13bn in bonuses

Wed, 19 Sep 2012 15:00:00 +0100

Workers take home disproportionate share of overall bonus pot

Cebr issues rallying Budget wishlist

Mon, 19 Mar 2012 00:00:00 Z

This week's Budget is George Osborne’s last opportunity to boost growth before the next election, according to Cebr

Panel urges better links between state, schools and business

Wed, 22 Feb 2012 00:00:00 Z

Are we equipping today's youth with the right skills for working life?

Accountant stole to fund online gambling addiction

Thu, 19 Apr 2012 17:02:00 +0100

A Stockport accountant has admitted five counts of fraud after stealing thousands of pounds from her employer

Lee appointed as ICAEW China director

Thu, 01 Mar 2012 00:00:00 Z

James Lee is the ICAEW’s new Greater China regional director

Anti-bribery assurance framework launched

Thu, 21 Jun 2012 00:00:00 +0100

Companies should use independent assurance on anti-bribery processes

Member stays in ICAEW despite fraud conviction

Tue, 13 Mar 2012 00:00:00 Z

Exceptional mitigating circumstances mean former XNC man can stay in ICAEW

Audit fee income stays level in 2011

Mon, 25 Jun 2012 00:00:00 +0100

Audit fee income falls 2.2% among smaller firms but rises at Big Four

JP Morgan director to appeal FSA finding

Tue, 03 Apr 2012 00:00:00 +0100

Ian Hannam to venture to Upper Tribunal following resignation for insider dealing

Recommendations from the G20 YES summit

Mon, 25 Jun 2012 00:00:00 +0100

Ernst & Young survey reveals desire for cheaper finance and better fiscal support

Lee Manning becomes president of R3

Tue, 01 May 2012 00:00:00 +0100

Lee Manning takes up his new role as president of R3

KPMG investigated over Equity Red Star accounts

Tue, 06 Mar 2012 00:00:00 Z

Audits and accounts of Llyod's syndicate come under scrutiny

Late payment funds excess working capital

Wed, 23 May 2012 00:00:00 +0100

Survey suggests companies are also sitting on £64bn of excess working capital

Treasury acts on off -payroll appointments

Thu, 24 May 2012 00:00:00 +0100

Review finds that 40% of appointees have been engaged off payroll for more than two years

What the budget means for property

Wed, 21 Mar 2012 00:00:00 Z

Simon Tatford analyses the impact today's announcements will have on the property sector

IMF slashes UK growth forecast

Tue, 17 Jul 2012 00:00:00 +0100

The International Monetary Fund has downgraded its forecast for UK growth to just 0.2% in 2012

Mridul Hegde to join FRC

Tue, 24 Jul 2012 00:00:00 +0100

Treasury mandarin Mridul Hegde is to join the Financial Reporting Council as executive director of strategy

Proposed bill of rights for consumers

Mon, 16 Jul 2012 11:35:00 +0100

The government has launched a consultation on a clear code of rights for consumers

Deloitte fails to get case struck out

Mon, 30 Jul 2012 00:00:00 +0100

Deloitte is to face a full tribunal hearing over its role as auditors to companies in the MG Rover Group

Sharman Panel publishes final recommendations

Wed, 13 Jun 2012 00:00:00 +0100

Auditors need a more central role in assessing a company's financial health

The top 20 of the accountancy world

Wed, 01 Feb 2012 00:00:00 Z

The top 20 accountancy firms by income in 2011

SFO re-opens Weavering investigation

Mon, 09 Jul 2012 00:00:00 +0100

The SFO has re-opened its investigation into the collapse of hedge fund Weavering Capital

Banks need to publicise SME funding appeal process

Thu, 07 Jun 2012 00:00:00 +0100

There has been a “seismic shift” in bank lending to SMEs since 2008

Former Ernst & Young accountant becomes chief executive of Supporters Direct

Mon, 28 May 2012 00:00:00 +0100

David Lampitt to assume new position in June

Former KPMG partner gets top job at HMRC

Mon, 02 Jul 2012 00:00:00 +0100

Former KPMG senior partner Ian Barlow is to take over as HMRC’s lead non-executive director

Scott Barnes reappointed as Grant Thornton CEO

Thu, 19 Apr 2012 09:02:00 +0100

Company announces new revenue targets and strategic focus as Barnes is reappointed as CEO

Alistair Darling talks growth

Mon, 30 Jan 2012 00:00:00 Z

Former chancellor warns of further banking crisis and stagnant UK ouput

Accountants to settle disciplinary cases

Thu, 28 Jun 2012 00:00:00 +0100

FRC consults on disciplinary shake-up in a bid to cut costs and time

Changes due for audit proposals

Mon, 10 Sep 2012 03:00:00 +0100

The Legal Affairs Committee wants to change core elements of the EC's audit proposals

Deloitte to carry out BIBA strategic review

Thu, 17 May 2012 00:00:00 +0100

Deloitte is to carry out a strategic review of the British Insurance Brokers’ Association

Former Olympus chairman arrested in accounting scandal

Thu, 16 Feb 2012 00:00:00 Z

Olympus chairman Kikukawa has been arrested as part of the accounting investigation

Item Club predicts growth at half OBR levels

Mon, 16 Apr 2012 00:00:00 +0100

The UK economy will grow at just half the pace of official estimates this year, according to the E&Y Item Club

Deloitte in Catch 22 over former Chinese client

Fri, 11 May 2012 00:00:00 +0100

Deloitte Touche Tohmatsu has found itself in a bind over conflicting laws between the Chinese and US governments

EU parliament say yes to financial transaction tax

Thu, 24 May 2012 00:00:00 +0100

Member states must agree unanimoulsy before proposal becomes law

Strong results for Mitie

Mon, 21 May 2012 00:00:00 +0100

Mitie says it has made excellent progress on all of its key strategic objectives

Local government time wasted by Whitehall communications

Wed, 13 Jun 2012 00:00:00 +0100

Local government is frustrated by poor email communication and rushed consultation with Whitehall, the NAO says

Treasury releases tax calculator app

Mon, 28 May 2012 00:00:00 +0100

The new app is designed to make it easier to calculate how much tax needs to be paid

Draft regulations on director pay

Thu, 28 Jun 2012 00:00:00 +0100

The government has published draft regulations on remuneration report disclosures

EU countries lack skill to implement IPSAS

Tue, 15 May 2012 00:00:00 +0100

Member states that still use cash accounting could struggle to implement public sector standards

BIS proposes new bankruptcy adjudicator

Wed, 10 Oct 2012 16:30:00 +0100

New proposals mean bankruptcy claims may bypass court process

ITEM Club downgrades UK forecast

Mon, 15 Oct 2012 11:01:00 +0100

Ernst & Young’s ITEM club is the latest to downgrade its prediction for levels of UK growth

US authorities pursue more banks over rate fixing

Thu, 16 Aug 2012 08:30:00 +0100

Authorities in New York and Connecticut request information from seven banks over the rate fixing investigation

US business gloomy about prospects

Thu, 07 Jun 2012 00:00:00 +0100

Senior business executives in the US are less positive about the American economy than three months ago

Top economist to write biography of money

Thu, 08 Mar 2012 15:42:00 Z

Top economist to write biography of money

Finance Innovation Lab chosen for list of 50 New Radicals

Mon, 20 Feb 2012 00:00:00 Z

The Finance Innovation Lab has been named in a list of the top 50 New Radicals in Britain

Baker Tilly partner appointed in Red Tape Challenge

Wed, 08 Feb 2012 00:00:00 Z

The government has appointed a Baker Tilly partner as a Red Tape Challenge Champion

EU proposals could harm UK business

Mon, 14 May 2012 00:00:00 +0100

ICAEW calls for the government to act now to stop an EU proposal reducing small company disclosure requirements

Treasury acts on off payroll appointments

Thu, 24 May 2012 00:00:00 +0100

Treasury acts to tighten up on off payroll engagements in Whitehall

Redmond to head CCAB

Fri, 29 Jun 2012 00:00:00 +0100

CIPFA president is first chair of restructured CCAB

UK businesses plan further cutbacks

Tue, 07 Feb 2012 00:00:00 Z

Half of UK businesses are operating below capacity according to a survey

KPMG: finance is key to company growth

Mon, 02 Apr 2012 00:00:00 +0100

Survey says finance is playing a larger role than ever in mapping global companies’ paths to growth

Eurozone unemployment reaches record high in March

Wed, 02 May 2012 00:00:00 +0100

Unemployment in the eurozone reached a record high again in March, according to the latest figures

KPMG: banking has had a "year to forget"

Mon, 19 Mar 2012 00:00:00 Z

A report from KPMG has warned further job losses in the banking sector are on the way

Pirc queries Deloitte's independence

Tue, 10 Jul 2012 00:00:00 +0100

Pirc has sent a note to shareholders of British Land questioning the independence of auditors Deloitte

PCAOB does deal with Spain

Fri, 20 Jul 2012 00:00:00 +0100

The US oversight board has reached a deal with Spain to inspect Spanish firms

Government plans crackdown on "cowboy" tax advisers

Tue, 24 Jul 2012 00:00:00 +0100

The government is cracking down on advisers who promote “contrived tax avoidance schemes”

Angela Knight resigns as BBA chief executive

Tue, 03 Apr 2012 00:00:00 +0100

Angela Knight to step down in the summer

Service sector output slows in July

Fri, 03 Aug 2012 00:00:00 +0100

Figures released amid worsening output for manufacturing

Young people face toughest job outlook in 20 years

Wed, 15 Aug 2012 10:30:00 +0100

TUC figures reveal bleak prospects for 16-24 years olds

Maxwell announced as head of OFT

Thu, 14 Jun 2012 00:00:00 +0100

Maxwell to take over as chief executive of OFT

In other news…

Fri, 08 Jun 2012 00:00:00 +0100

What else happened in the news this week? economia's take on 1-8 June

ICAEW warns members over tax avoidance schemes

Fri, 29 Jun 2012 00:00:00 +0100

There is no place in the profession for people who create aggressive tax avoidance schemes, says Michael Izza

Government to announce pension reform

Mon, 14 Jan 2013 09:27:00 Z

The government will announce details of the biggest pensions overhaul in a decade today

Disciplinary: Funds taken from client account

Mon, 30 Apr 2012 14:56:00 +0100

Accountant dishonestly appropriated £93,210 from a client account

Financial Services Bill attacked by Labour peers

Tue, 12 Jun 2012 00:00:00 +0100

The Financial Services Bill has been attacked by Labour peers as a "dog's breakfast"

Government signs Liechtenstein treaty to "clamp down on tax avoidance"

Mon, 11 Jun 2012 00:00:00 +0100

More than 2,400 people have registered to disclose unpaid tax under the Liechtenstein Disclosure Facility

Debate over length of Finance Bill

Thu, 29 Mar 2012 00:00:00 +0100

The long-awaited Finance Bill is published today - to meet criticism over the length of the legislation

Baker Tilly reports strong revenues

Tue, 31 Jan 2012 00:00:00 Z

Business advisory firm defies tough economic conditions

Call to investigate Rangers administrator

Thu, 24 May 2012 00:00:00 +0100

Ex Rangers director calls for administrators to be investigated

Former HBOS director banned for life

Wed, 12 Sep 2012 18:00:00 +0100

Peter Cummings fined £0.5m and banned from holding any senior position in financial services

POB criticises EC audit proposals

Wed, 18 Jul 2012 00:00:00 +0100

The POB has expressed “strong” opposition to the European Commission’s proposals for audit reform

Goldman Sachs u-turn on bonus delay

Tue, 15 Jan 2013 16:58:00 Z

Goldman Sachs has performed a u-turn on plans to delay UK bonus payouts, following criticism from Sir Mervyn King

Out of date software leads to exclusion

Mon, 07 Jan 2013 09:35:00 Z

Luton-based practioner excluded due to out of date software

Chinese bankers concerned over interest rates

Thu, 10 Jan 2013 11:02:00 Z

Chinese bankers believe businesses are under threat from interest rate liberalisation in the next five years

Top companies' tax bills fall again

Mon, 14 Jan 2013 11:42:00 Z

FTSE 100 companies paid less of their global profits in tax last year than in 2011, says UHY Hacker Young

Viscount Younger appointed at BIS

Wed, 09 Jan 2013 13:10:00 Z

Viscount Younger of Leckie has been appointed a parliamentary under secretary at BIS

Michael Page CEO appointed at Debenhams

Tue, 08 Jan 2013 10:03:00 Z

Stephen Ingham, chief executive of Michael Page, has been appointed to the board of Debenhams

Fewest AIM members since 2004

Tue, 08 Jan 2013 09:29:00 Z

The amount of companies listed on AIM is at its lowest level since 2004, with half of the delistings due to M&As

BCC predicts positive growth in Q4

Tue, 08 Jan 2013 09:10:00 Z

The BCC has called for the government to “have the guts” to deliver growth policies

UK business confidence falls to lowest point

Mon, 13 Aug 2012 00:00:00 +0100

Survey suggests confidence at poorest level so far this year

Three banned for market abuse

Fri, 28 Sep 2012 15:30:00 +0100

A Swiss-based hedge fund manager and his co-conspirators have been banned from financial services

Budget is for tomorrow says ICAEW chief

Wed, 21 Mar 2012 00:00:00 Z

The budget signals the UK is open for business, says ICAEW's Micheal Izza

What the budget means for retail

Wed, 21 Mar 2012 00:00:00 Z

KPMG's head of UK retail concerned at "limited help" for sector

Two thirds to increase charges for RTI

Wed, 21 Nov 2012 17:44:00 Z

Almost two thirds (62%) of accountants are planning to increase fees to accommodate RTI, new IRIS research revealed

Deborah Meaden backs Make it in Great Britain campaign

Tue, 22 May 2012 00:00:00 +0100

Star of BBC's Dragons Den supports campaign to transform image of British manufacturing

Small firms look to "survive and not thrive"

Mon, 05 Nov 2012 08:38:00 Z

Small and mid-cap companies are stuck in a “holding pattern” that is preventing growth in the sector

Tax evasion industry uncovered

Mon, 26 Nov 2012 13:22:00 Z

A BBC Panorama programme uncovers the scale of the UK tax evasion industry

Scicluna takes top job at RSA

Fri, 23 Nov 2012 09:30:00 Z

Former Deloitte chairman Martin Scicluna is to take over as chairman of commercial insurance company, RSA

Dutch mandatory rotation deferred to 2016

Thu, 06 Dec 2012 09:41:00 Z

The Dutch profession faces a major shake-up next month when a new law governing audit comes into effect

Growth problem for finance sector

Fri, 23 Nov 2012 11:14:00 Z

Half of the finance sector sees growth as its greatest challenge for 2013

Cable backs Kay Review

Fri, 23 Nov 2012 10:09:00 Z

The government has endorsed the Kay Review proposals to discourage short-termism

Big Four fight back

Mon, 26 Nov 2012 13:15:00 Z

The Competition Commission is in danger of misunderstanding the audit tender process, the Big Four say

ICFR suspends manager over missing cash

Fri, 23 Nov 2012 17:32:00 Z

Financial regulator suspend manager over missing funds

Grant Thornton replaces Baker Tilly at Safeland

Mon, 26 Nov 2012 10:47:00 Z

Grant Thornton replaces Baker Tilly at Safeland

SEC chair Schapiro steps down

Tue, 27 Nov 2012 10:30:00 Z

Mary Schapiro is to step down from her role as the chair of the SEC

Tycoon fined for evading inheritance tax

Thu, 05 Jul 2012 00:00:00 +0100

Property tycoon Michael Shanly to pay more than £850,000 after pleading guilty to tax evasion

HMRC targets Scottish pubs

Thu, 05 Jul 2012 00:00:00 +0100

Scottish pubs and Northern Irish hair and beauty salons targeted in HMRC’s latest crackdown

EU banking report calls for different legal entities

Wed, 03 Oct 2012 10:04:00 +0100

European banks should be split into two separate legal entities, according to a European Union advisory group

CIOs excluded from decision-making

Wed, 03 Oct 2012 11:45:00 +0100

Too few chief information officers are seen as true members of the executive management team, says Ernst & Young

UK government borrowing rises

Fri, 20 Jul 2012 00:00:00 +0100

Government borrowing rises half a billion pounds in June

Government accounts show falling national deficit amid calls for more cuts

Thu, 12 Jul 2012 00:00:00 +0100

Official figures show the national deficit fell to 7.2% of GDP, as the OBR urges even deeper public spending cuts

Warren Buffett buys into newspapers

Tue, 22 May 2012 00:00:00 +0100

The Oracle of Omaha sees value in local news resources

More women on UK boards

Tue, 24 Jul 2012 00:00:00 +0100

The number of women appointed to the boards of the UK’s top companies has reached unprecedented levels

UK investments funds to benefit from ECJ decision

Fri, 11 May 2012 00:00:00 +0100

UK investment funds could benefit by up to €5bn from yesterday’s European Court of Justice ruling

British manufacturing resilience celebrated

Thu, 26 Jul 2012 00:00:00 +0100

London's Science Musuem hosts exhibition to celebrate manufacturing

Tax legislation to increase cost of dissolving small companies

Thu, 09 Feb 2012 00:00:00 Z

New tax legislation will increase the cost of dissolving small companies, according to industry experts

In other news...

Fri, 21 Sep 2012 00:00:00 +0100

What else has happened in the news this week?

HMRC wins SDLT battle

Thu, 20 Sep 2012 12:00:00 +0100

First Tier Tribunal rules in favour against stamp duty land tax

Carl Jackson to leave RSM Tenon

Fri, 21 Sep 2012 10:30:00 +0100

Head of recovery team in the north to leave the company after 20 years' service

Business women shine in Power List

Tue, 12 Feb 2013 14:51:00 Z

EY’s Liz Bingham is one of the 100 most powerful women in the UK, according to BBC Radio 4’s Woman’s Hour

Deloitte appointed HMV administrators

Wed, 16 Jan 2013 09:46:00 Z

Neville Kahn, Nick Edwards and Rob Harding of Deloitte have been appointed joint administrators of HMV

UBS fined by FSA over AIG

Tue, 12 Feb 2013 12:17:00 Z

The FSA has fined Swiss bank UBS £9.45m over failures in the sale of an AIG fund

UK businesses focus on short term

Wed, 16 Jan 2013 10:36:00 Z

Almost half of UK divestments over the last two years have come from a need for a quick cash injection

Farepak creditors get 50p in the pound

Tue, 10 Jul 2012 00:00:00 +0100

Creditors end up getting 50p in the pound

HMRC gives high rate taxpayers chance to pay up

Wed, 04 Jul 2012 00:00:00 +0100

HMRC is offering higher rate taxpayers who have failed to submit tax returns a chance to pay up voluntarily

HMRC industrial action begins

Tue, 31 Jul 2012 00:00:00 +0100

Staff at HMRC have started industrial action in a long-running dispute over job losses

Restaurant director banned

Thu, 20 Sep 2012 15:00:00 +0100

Disqualified for five years for “unacceptable financial practices"

EIS and VCT limits to go up

Thu, 07 Jun 2012 00:00:00 +0100

The European Commission has given state aid approval for changes to the EIS and VCT schemes

In other news...

Fri, 31 Aug 2012 07:00:00 +0100

What else happened in the news this week?

Mazars adds six new partners

Fri, 14 Sep 2012 11:08:00 +0100

Mazars has added six new partners to the firm, including poaching one director from Deloitte

Final pensions reform released

Thu, 13 Sep 2012 10:07:00 +0100

The government has published the final stage of its controversial pensions bill, forecast to save £65bn in reforms

Metro Bank provides new funding for SMEs in South East

Wed, 03 Oct 2012 15:23:00 +0100

A further £100m of lending is being made available for small and medium sized businesses

Marjorie Scardino to step down from Pearson

Wed, 03 Oct 2012 16:23:00 +0100

The first female head of a FTSE 100 company is to step down as chief executive of Pearson

ECB moves to take control of the City

Wed, 12 Sep 2012 11:30:00 +0100

New powers unveiled are likely to upset eurosceptic MPs

Audit exemption for mid-tier companies detrimental

Fri, 07 Sep 2012 12:30:00 +0100

Removing medium-sized companies from the statutory audit requirement is a move too far, the UK’s CCAB says

ICAEW moves to dismiss suggestion IFRS does not conform to UK law

Thu, 23 Feb 2012 00:00:00 Z

International financial reporting standards do conform to UK law, according to ICAEW

HMRC chases football clubs

Wed, 15 Feb 2012 00:00:00 Z

England’s Premier League clubs have paid back tens of millions of pounds in tax as a result of a push by HMRC

Cable welcomes Scotch whisky investment

Wed, 06 Jun 2012 00:00:00 +0100

Business Secretary Vince Cable has welcomed plans by Diageo to invest £1bn in Scotch whisky production

Spanish woes continue

Tue, 29 May 2012 00:00:00 +0100

Worsening retail picture amid banking crisis

Caroline Spelman calls for intergrated accounts for the UK

Fri, 10 Feb 2012 00:00:00 Z

Caroline Spelman calls for a change from using GDP as the sole measure of financial progress

Seeking sustainable businesses

Tue, 01 May 2012 00:00:00 +0100

Do you work for Britain’s most sustainable business? If so, ICAEW would like to hear from you

Professions need to move faster on social mobility

Thu, 31 May 2012 08:20:00 +0100

The professions still recruit from a too exclusive talent pool, according to an independent review

Top civil servants face tax avoidance investigation

Thu, 03 May 2012 00:00:00 +0100

Thousands of civil servants face investigation over claims they reduced their tax payments

Sants to stand down

Fri, 16 Mar 2012 00:00:00 Z

Hector Sants is to step down as chief executive of the FSA at the end of June after five years

Davies review: all-male FTSE 100 boards halve

Tue, 13 Mar 2012 00:00:00 Z

More women on the boards of FTSE companies

Real time information – the cost to employers

Tue, 20 Mar 2012 00:00:00 Z

Will your costs be higher as a result of HMRC's changes?

UKGIB chair announced

Fri, 25 May 2012 00:00:00 +0100

Lord Smith of Kelvin to be chairman of UK Green Investment Bank

HMRC rejects VAT fraud gap increase

Mon, 07 Jan 2013 12:13:00 Z

HMRC has rejected claims that the VAT gap caused by fraud has rocketed to £3.3bn

New North Sea tax allowance

Fri, 07 Sep 2012 10:00:00 +0100

The UK Treasury is introducing a tax measure to encourage investment in mature North Sea oil and gas fields

Lord Turner calls for "unconventional policies"

Fri, 12 Oct 2012 09:17:00 +0100

Lord Turner, the head of the FSA, has called for unconventional policies to stimulate economic growth in the UK

Mazars opens Durham office

Mon, 29 Oct 2012 17:00:00 Z

Accountancy firm to broaden its UK base

HMRC to move website to new gov.uk site

Fri, 26 Oct 2012 11:33:00 +0100

HMRC has confirmed that it plans to base its online operation on the controversial new gov.uk site from March

Lloyds employee admits £2.4m fraud

Tue, 07 Aug 2012 00:00:00 +0100

Jessica Harper pleads guilty to charges around false invoice payments

Pendragon overstated cashflow by £31m

Tue, 07 Aug 2012 00:00:00 +0100

Company overstated cashflow by £31m

PAC criticises tax of public-sector bodies

Fri, 05 Oct 2012 10:30:00 +0100

Public Accounts Committee criticises arrangements of some public-sector bodies - including the BBC

Women FDs in the ascendant

Fri, 25 May 2012 00:00:00 +0100

News from the FD Excellence Awards

Jail for businessman convicted in VAT fraud

Fri, 10 Aug 2012 00:00:00 +0100

Businessman used £673,000 fraud to fund Monaco lifestyle

US watchdog "disturbed" by broker-dealer audits

Wed, 22 Aug 2012 13:30:00 +0100

Watchdog "disturbed" by failures in every audits it inspected

Black cab lays off staff

Thu, 01 Nov 2012 10:12:00 Z

PwC, administrators of Manganese Bronze, has announced 156 people will be made redundant

Grant Thornton grows public sector assurance team

Thu, 01 Nov 2012 10:30:00 Z

Firm takes on 300 former Audit Commission employees

Budget 2012: "Britain can become competitive again"

Thu, 22 Mar 2012 00:00:00 Z

Given time to digest the 2012 budget, the business community has found much to be pleased about

Squeeze on consumer spending to end next year

Mon, 30 Jul 2012 00:00:00 +0100

A fall in inflation next year will help boost real household disposable incomes

FT content sales to top ad revenue

Wed, 14 Mar 2012 00:00:00 Z

FT boss says content revenues are set to overtake ad sales

Beecroft report published

Tue, 22 May 2012 00:00:00 +0100

Government forced into publishing report to "dispel myths"

Entrepreneurs call for 50p tax rate to be scrapped

Thu, 01 Mar 2012 00:00:00 Z

More than 500 SME business leaders have called for the 50p top rate of tax to be ‘urgently’ scrapped

Accountancy profession needs to face up to social mobility challenge

Wed, 24 Oct 2012 13:17:00 +0100

Accountancy firms are not doing enough to make social mobility part of hiring, according to industry experts

KPMG makes 275 redundant

Thu, 06 Dec 2012 00:00:00 Z

KPMG has made 275 members of staff redundant

IMF urges action on fiscal transparency

Mon, 10 Dec 2012 11:46:00 Z

The IMF is warning governments to guard against allowing fiscal transparency to falter

Starbucks offers £20m tax

Thu, 06 Dec 2012 16:07:00 Z

Starbucks has bowed to public and political pressure by agreeing to pay up to £20m over the next two years in tax

No evidence of collusion among Big Four

Tue, 25 Sep 2012 10:00:00 +0100

Competition Commission finds no evidence of market manipulation, despite dominance of Big Four among FTSE 350

Baker Tilly firm expands in US

Tue, 25 Sep 2012 09:30:00 +0100

Baker Tilly International member Mountjoy Chilton Medley is to merge with McCauley Nicolas

Karim presents watered-down audit proposals

Tue, 18 Sep 2012 17:00:00 +0100

The European Parliament is told that "switching auditors every few years will not end audit failures"

Proposals for non-banking financial services firms

Thu, 02 Aug 2012 00:00:00 +0100

Treasury seeks consultation on proposals to stabilise the financial system

OTS calls for simplified tax system for small businesses

Wed, 29 Feb 2012 00:00:00 Z

The Office of Tax Simplification has called for the accounting system for small firms to be simplified

Indirect taxes rise to £174bn

Wed, 16 May 2012 00:00:00 +0100

The amount of tax collected from indirect taxes has increased significantly, according to research

In other news...

Fri, 06 Jul 2012 00:00:00 +0100

What else happened in the news this week? economia's take on 2-6 July

British businesses announce new investment plans

Thu, 09 Aug 2012 00:00:00 +0100

Nestlé among companies announcing new investments in the UK and abroad

HK regulator to take E&Y to court

Wed, 29 Aug 2012 09:30:00 +0100

Hong Kong’s regulator is taking Ernst & Young to court over accounting information for a China-based client

Romney accused over tax returns

Mon, 03 Sep 2012 10:30:00 +0100

Tax arrangement over private equity firms raises questions in run-up to election

Cost fears over Patent Box regime

Fri, 20 Jul 2012 00:00:00 +0100

Small businesses fear costs of Patent Box regime

World GDP forecast revised downward

Tue, 14 Aug 2012 00:00:00 +0100

Emerging markets slowdown coincides with troubles in eurozone and the US

PWC: High Streets continue to face huge store closures

Fri, 17 Feb 2012 00:00:00 Z

High streets across Britain continued to struggle last year as 5,268 shops were closed by major retailers

Deloitte implicated in Standard Chartered scandal

Tue, 07 Aug 2012 00:00:00 +0100

Allegations against Standard Chartered implicate bank's consultants

Small listed companies need to improve accounts

Wed, 26 Sep 2012 17:24:00 +0100

Smaller listed companies have been told to improve the quality of their annual reports and accounts

Swinburne rejects seven-year audit rotation

Fri, 28 Sep 2012 17:00:00 +0100

Some of the European Commission’s audit proposals constitute an unreasonable burden on business, says MEP

Sorrell criticises top rate tax cut

Fri, 31 Aug 2012 12:30:00 +0100

George Osborne was wrong to cut the top rate of tax from 50p to 45p, according to Sir Martin Sorrell

Government expands start-up loans scheme

Thu, 03 Jan 2013 00:00:00 Z

The government is expanding its start-up loans scheme for young entrepreneurs to include those aged up to 30

Hill appointed chairman of Metro Bank

Thu, 03 Jan 2013 09:54:00 Z

Founder Vernon Hill has been appointed chairman of Metro Bank

More funds for SME exporters

Fri, 28 Sep 2012 10:00:00 +0100

Government to devote an extra £13m to developing overseas opportunities

Director struck off for for bad book-keeping

Fri, 14 Dec 2012 15:00:00 Z

A director has been disqualified for eight years after bad book-keeping left £1m of debts

OBR warns employee ownership could cost £1bn

Tue, 11 Dec 2012 12:00:00 Z

Government proposals for an employee-ownership scheme could end up costing Britain £1bn a year in lost revenues

FRC calls for improvements to four Group A accounting firms

Thu, 10 May 2012 00:00:00 +0100

The Audit Inspection Unit has called for key changes to four Group A firms

Companies House gets new chair

Thu, 26 Jul 2012 00:00:00 +0100

Amnesty International’s treasurer Brian Landers is the new chairman of Companies House

Criminal gang attempts £176m VAT fraud

Wed, 11 Jul 2012 00:00:00 +0100

A gang attempted to defraud more than £176m in VAT through complex trading scams

BankToTheFuture launches today

Wed, 15 Aug 2012 00:30:00 +0100

New bank based on a social network aims to challenge traditional models of financing

Deloitte denies Standard Chartered suicide link

Tue, 21 Aug 2012 13:00:00 +0100

Deloitte has denied reports linking the suicide of partner Daniel Pirron to the firm’s work with Standard Chartered

PwC offers Higher Apprenticeship tax places

Mon, 11 Jun 2012 00:00:00 +0100

PwC has become the first firm to offer places under the new professional services Higher Apprenticeship scheme

Fraud rises to record highs

Tue, 31 Jan 2012 00:00:00 Z

KPMG records more than £3.5bn of fraud in 2011

Third of employees lie about absence

Mon, 17 Sep 2012 15:00:00 +0100

Survey finds more than one in three employees lie to their bosses about work absences

Futures trader to face fraud charges

Mon, 24 Sep 2012 15:00:00 +0100

FSA brings seven charges over an unauthorised investment scheme

UK has 146,000 zombie companies

Tue, 31 Jul 2012 00:00:00 +0100

R3 says 8% of UK businesses teetering on the edge of insolvency

"Accidental millionaires" sentenced for theft

Tue, 28 Aug 2012 12:00:00 +0100

A man who fled after millions of dollars were accidentally put in his bank account has been sentenced

Government fightback against IP crime

Mon, 16 Jul 2012 00:00:00 +0100

Intellectual property crime costs the UK around €500m in lost tax revenue and welfare payments

EC audit reforms criticised by Parliament

Wed, 11 Jul 2012 00:00:00 +0100

Plans to reform audit have been criticised by the European Parliament as unconvincing

Moody's remains negative on UK banks

Tue, 11 Sep 2012 11:30:00 +0100

Weak economic growth prospects chief cause of pessimism

Eurozone unemployment reaches record high

Fri, 31 Aug 2012 00:00:00 +0100

Unemployment in the eurozone reached a record high in July, according to figures released today

RSM Tenon to tender for new auditor

Mon, 10 Dec 2012 09:45:00 Z

RSM Tenon is to hunt for a new auditor after shareholders voted not to re-appoint PwC

FRC pursues Farepak director for "misleading" financial position

Mon, 10 Dec 2012 15:19:00 Z

The FRC has filed a disciplinary complaint against former chief executive of the parent company of Farepak

JPMorgan nears £500m HMRC deal

Mon, 10 Dec 2012 09:52:00 Z

JPMorgan has reportedly almost reached a £500m settlement with the UK government over tax payments

Alexander urges others to follow UK’s lead on transparency

Mon, 10 Dec 2012 15:51:00 Z

Danny Alexander urges other countries to follow Britain’s lead in increasing fiscal transparency

ICAEW urge caution on bank regulation

Mon, 10 Dec 2012 17:16:00 Z

Iain Coke warns that over-regulation of banks could prevent them from “fulfilling their key role in society”

EU pensions proposals "wrong-headed"

Tue, 11 Dec 2012 09:57:00 Z

A planned funding regime for pensions would be a “disaster” for businesses, the CBI warns

Fee competition biggest profit risk

Thu, 10 Jan 2013 12:46:00 Z

Competition over fees is the biggest risk to profitability for accountancy firms

UBS grilled by hostile PBSC

Thu, 10 Jan 2013 14:06:00 Z

It will take five years to restructure UBS and improve its culture, investment CEO Andrea Orcel says

RPI measure remains unchanged

Thu, 10 Jan 2013 10:18:00 Z

The ONS has decided to keep inflation measure RPI intact, despite its own consultation recommending a new index

Inflation holds for third month

Tue, 15 Jan 2013 12:02:00 Z

UK consumer inflation, Consumer Price Index (CPI), held at 2.7% in December, unchanged from the previous two months

Dundee DJ gets nine years for £20m phone fraud

Fri, 11 Jan 2013 17:41:00 Z

A Dundee DJ has been jailed for nine years for his part in a £20m mobile phone VAT fraud

Business confidence is weakening

Mon, 14 Jan 2013 14:08:00 Z

The UK may well be heading back into recession, if the BDO index of business confidence is correct

Big Four firms named in top ten for diversity

Thu, 08 Nov 2012 11:01:00 Z

Three leading accountancy firms have been named in the top ten firms for equality in the private sector

Mazars launches redundancy consultation

Thu, 08 Nov 2012 18:10:00 Z

Mazars has launched a consultation process which could see up to 5% of UK staff made redundant

HMRC launches investigation into HSBC

Fri, 09 Nov 2012 10:19:00 Z

HMRC is investigating a number of British HSBC customers based in Jersey

HMRC seizing more assets to recover unpaid VAT

Thu, 03 May 2012 00:00:00 +0100

Powers of distraint have increased 161% in the past year

Commission audit proposals ‘half-hearted’, say Lords

Wed, 08 Feb 2012 00:00:00 Z

The EC is taken to task over its proposals for the audit market at the House of Lords

Lack of integrity in financial services

Tue, 10 Jul 2012 00:00:00 +0100

A large number of financial services professionals admit they would commit crime to succeed

Mwangi named 2012 global entrepreneur

Tue, 12 Jun 2012 00:00:00 +0100

Equity Bank CEO James Mwangi is this year’s Ernst & Young Entrepreneur of the Year

UK rated as eight most competitive economy

Wed, 05 Sep 2012 13:09:00 +0100

The UK has risen to eighth place in terms of global competitiveness

Trial begins against UBS trader

Fri, 14 Sep 2012 09:39:00 +0100

The trial of former UBS trader Kweku Adoboli, accused of losing the Swiss Bank £1.4bn, starts later today

German business confidence falls

Tue, 28 Aug 2012 08:30:00 +0100

Confidence in the eurozone's largest economy reaches two-year low

Seven more banks join mis-selling review

Mon, 23 Jul 2012 00:00:00 +0100

Focus falls on alleged mis-selling of interest rate hedging derivatives

"Shot in the foot" for the high street

Fri, 19 Oct 2012 15:55:00 +0100

The government has come under fire over its decision to postpone the 2015 rating revaluation in England until 2017

Industry welcomes government plans to revise Budget

Tue, 29 May 2012 00:00:00 +0100

The proposed pasty tax set to be revised, though concerns are raised over taxes elsewhere

Disciplinary: Member saved from exclusion

Tue, 01 May 2012 07:48:00 +0100

Powerful and unusual mitigating circumstances save Christopher Ford's ICAEW membership

Charity fundraisers face new regulations

Mon, 20 Aug 2012 12:00:00 +0100

Points-based penalty system aimed at reducing harrassment

HMRC launches scheme to improve tax agent standards

Thu, 23 Aug 2012 16:30:00 +0100

HMRC is set to launch a pilot of its ‘agent view’ scheme to improve standards among tax agents

PwC to pay Lehman creditors

Mon, 15 Apr 2013 11:45:00 +0100

PwC have revealed that the European arm of Lehman Brothers could repay creditors in full

Former FD of Luton Town thrown out of ICAEW

Thu, 06 Dec 2012 10:13:00 Z

The former finance director of Luton Town Football Club has been thrown out of ICAEW for misconduct

Breedon calls for less regulation

Thu, 06 Dec 2012 15:54:00 Z

Tim Breedon has called for loosening of the ‘over-prudent’ regulatory bodies stifling growth for SMEs

Employment falls in services sector

Thu, 04 Oct 2012 11:02:00 +0100

Activity in Britain’s services sector has been weaker than expected in September

Government should do more to simplify tax

Tue, 02 Oct 2012 16:30:00 +0100

Tax director at the Office of Tax Simplification calls for less complex legislation

Michael Page issues profit warning

Tue, 09 Oct 2012 09:32:00 +0100

Specialist accountancy and financial recruiter hit by poor business confidence

RSM Tenon seeks to dispose of business

Mon, 24 Sep 2012 10:00:00 +0100

Firm in talks with Grant Thornton to dispose of part of its business for individual voluntary arrangements

PwC reports 7% revenue increase

Mon, 17 Sep 2012 08:56:00 +0100

Partners at PwC took home an average of £679,000 in 2012, amid a 7% increase in UK revenues

Business bank seeded with £1bn

Mon, 24 Sep 2012 08:57:00 +0100

The government will pump £1bn of state investment into the new business bank

Hiring plans fall to two-year low

Mon, 08 Oct 2012 10:30:00 +0100

Survey of businesses paints pessimistic picture for unemployment figures

PwC global revenues top $31bn

Fri, 05 Oct 2012 12:24:00 +0100

PwC has reported global revenues of $31.5bn, a rise of 8% on the previous year

Entrepreneur wins Mitie Millions funding

Tue, 29 May 2012 00:00:00 +0100

Five entrepreneurs pitch to win a slice of Mitie's £5m investment fund

PCAOB gains access to German firms

Mon, 16 Apr 2012 00:00:00 +0100

The US PCAOB has reached agreement with the German Audit Oversight Board to co-operate

Michael Woodford on the Olympus scandal, auditors and capitalism

Tue, 31 Jan 2012 00:00:00 Z

Michael Woodford talks about the Olympus scandal and why he didn't trust his CFO

In other news...

Fri, 22 Jun 2012 00:00:00 +0100

What else has happened in the world this week?

In other news…

Fri, 23 Mar 2012 00:00:00 Z

economia's take on 19-23 March

Former Olympus CEO settles unfair dismissal claim

Wed, 30 May 2012 00:00:00 +0100

Michael Woodford reaches provisional settlement with Olympus

Nobel Laureate calls for end to government austerity

Wed, 30 May 2012 12:56:00 +0100

Paul Krugman has called for the UK’s coalition government to end ‘disastrous’ austerity economic policy

Retail sales down as attractions report loss

Tue, 31 Jul 2012 00:00:00 +0100

July retail sales rose more slowly than the sector had hoped, according to a survey by the CBI

Bank of England launches Funding for Lending Scheme

Wed, 01 Aug 2012 00:00:00 +0100

Scheme will encourage banks and building societies to increase lending to households and businesses

London retailers see drop in visitor numbers

Wed, 01 Aug 2012 00:00:00 +0100

Research suggests that the Olympic Games is driving away shoppers in Central London

Barclays axes tax unit amid job cuts

Tue, 12 Feb 2013 09:03:00 Z

Barclays has outlined sweeping changes at the bank, including job cuts and closing the tax advisory unit

Deloitte records revenue growth

Wed, 19 Sep 2012 12:00:00 +0100

Firm sees 8.6% growth across its international operations

UK GDP falls for third consecutive quarter

Wed, 25 Jul 2012 00:00:00 +0100

Latest GDP figures show the recession has taken a stronger hold in the UK than expected

Top HK job for former KPMG chair

Wed, 26 Sep 2012 16:00:00 +0100

Carlson Tong, former chairman of KPMG’s China, is to head up Hong Kong’s Securities and Futures Commission

Portsmouth and Rangers FC face administration

Tue, 14 Feb 2012 00:00:00 Z

Football clubs Portsmouth and Rangers are both facing the trials of administration due to unpaid tax bills

IMF endorses UK deficit strategy

Tue, 22 May 2012 00:00:00 +0100

Report praises fiscal and monetary measures, but recognises weaknesses in the UK's economy

Two PKF partners on BDO leadership team

Tue, 16 Apr 2013 12:43:00 +0100

Two PKFs senior partners have been appointed to BDO’s new leadership team, economia can confirm

In other news…

Fri, 13 Apr 2012 12:53:00 +0100

economia’s take on 9-13 April

Retailers close 30 stores per day

Thu, 18 Oct 2012 10:27:00 +0100

Retailers in Britain are closing an average of 32 shops every day across the country

Moody's lowers outlook on EU credit rating

Tue, 04 Sep 2012 10:00:00 +0100

Ratings agency Moody's suggests further downgrade to AAA rating

Welsh Commissioner challenges ICAEW English-only exams

Mon, 20 Aug 2012 16:30:00 +0100

ICAEW may be forced to translate its exams into Welsh

FSA charges four over insider dealing

Mon, 01 Oct 2012 13:43:00 +0100

Four men have been charged for insider dealing by the Financial Services Authority

Draft Banking Reform Bill published

Fri, 12 Oct 2012 16:00:00 +0100

Critics claim the Bill will leave hospitals, schools and charities worse off

UK trade deficit narrows

Fri, 09 Nov 2012 14:55:00 Z

The UK trade deficit fell more than expected in September

China orders Big Four to localise practices

Mon, 14 May 2012 00:00:00 +0100

The Chinese government has ordered the Big Four to transform their practices into local firms

SFO to investigate LIBOR scandal

Fri, 06 Jul 2012 00:00:00 +0100

The SFO launches a criminal investigation into rate-rigging

Former Polly Peck tycoon Asil Nadir guilty of theft

Mon, 20 Aug 2012 14:30:00 +0100

Former Polly Peck tycoon convicted at the Old Bailey

FTSE-100 directors' pay growth slows

Mon, 20 Aug 2012 13:00:00 +0100

FTSE-100 companies see slowdown in director remuneration

Further £100m for Green Investment Bank

Mon, 06 Aug 2012 00:00:00 +0100

The government appoints two more specialist fund managers

Currie to head new competition body

Tue, 17 Jul 2012 00:00:00 +0100

BDO director Lord Currie has been appointed chairman of the new Competition and Market Authority

Guernsey victim of £2.6m fraud

Thu, 26 Jul 2012 00:00:00 +0100

The states of Guernsey has been the subject of a commercial fraud to the value of £2.6m

Autumn statement date announced

Wed, 12 Sep 2012 09:15:00 +0100

The UK Treasury has announced that chancellor will deliver his Autumn Statement on 5 December

UK and US team up to tackle evasion

Fri, 14 Sep 2012 00:00:00 +0100

The government has teamed up with the US to tackle tax evasion

New banks investigated in rate-fixing scandal

Thu, 19 Jul 2012 00:00:00 +0100

More banks are facing investigation over the rate-fixing scandal that engulfed Barclays earlier this month

Red tape cuts save £850m

Wed, 18 Jul 2012 08:26:00 +0100

Government cuts to red tape have led to huge savings for businesses

Glimmer of light for retailers

Mon, 17 Sep 2012 10:05:00 +0100

Disposable incomes will start rising again in 2013 as the UK economy emerges from recession, says Cebr

Pension gap widens, says TUC

Thu, 06 Sep 2012 08:39:00 +0100

The pension gap between employees and executives has widened

Pension reform reportedly halted by PM

Tue, 18 Sep 2012 08:21:00 +0100

The prime minister has ordered a rethink on state pension reform plans, according to the Financial Times

Olympics causes drop in jobless

Wed, 12 Sep 2012 12:40:00 +0100

A drop in the number of jobless has been attributed to employment created by the London Olympics

Government moves to support apprentices at SMEs

Wed, 29 Aug 2012 16:30:00 +0100

The government is to give more support to small businesses recruiting apprentices

FSA censures CFM

Mon, 26 Nov 2012 11:38:00 Z

The FSA has censured CFM for its failings in relation to the CF Arch cru funds between June 2006 and March 2009

Austerity could last until 2018

Mon, 26 Nov 2012 10:10:00 Z

Austerity may last for a further six years according to a new Institute for Fiscal Studies report

HP shareholder sues VP over Autonomy

Tue, 27 Nov 2012 12:55:00 Z

Shareholders claim HP knowingly made misleading statements over the contentious Autonomy takeover

ONS confirms 1% Q3 growth

Tue, 27 Nov 2012 11:44:00 Z

ONS confirmed today that the economy grew by 1% in the third quarter

Mark Carney to be BoE governor

Mon, 26 Nov 2012 16:09:00 Z

In a surprise move, Canadian Mark Carney is to take over as governor of the Bank of England

Apprenticeships need revamping

Tue, 27 Nov 2012 12:15:00 Z

Apprenticeships need proper government support if the system is to work well in the future, a review says

ITRE opts for 12 year-rotation

Thu, 29 Nov 2012 17:03:00 Z

Mandatory rotation of auditors every 12 years wins European parliamentary committee approval

European red tape "barrier" to trade

Mon, 06 Aug 2012 00:00:00 +0100

UK companies look to US and Commonwealth for export markets, research suggests

Government cuts more than 100 quangos

Wed, 22 Aug 2012 08:30:00 +0100

The number of quangos axed by the government has now topped 100

UK household income rises

Mon, 15 Oct 2012 11:30:00 +0100

Average real income in the UK rose slightly in the second quarter of the year, according to official figures

Grant Thornton revenues up as profits dip

Mon, 15 Oct 2012 09:00:00 +0100

Grant Thornton has seen UK revenues rise by more than 10% in the last year

PKF profits fall due to lower revenues

Tue, 16 Oct 2012 12:00:00 +0100

PKF has blamed the continuing adverse economic conditions for its latest results

Call for businesses to rebuild trust

Fri, 05 Oct 2012 11:30:00 +0100

PwC chairman Ian Powell calls for collaborative action to regain confidence

Portugal changes tax system to tackle austerity

Thu, 04 Oct 2012 09:23:00 +0100

Portugal has announced new austerity measures, including reducing Portugal’s income tax brackets from eight to five

In other news…

Thu, 27 Sep 2012 16:00:00 +0100

What else happened this week?

Marc Faber forecasts gloomy outlook

Wed, 24 Oct 2012 18:14:00 +0100

Legendary Swiss investor Marc Faber lived up to his “Dr Doom” moniker today

SMEs see finance slashed

Thu, 25 Oct 2012 08:37:00 +0100

Over two thirds of UK SMEs have had their overdrafts slashed by finance providers

Good news for UK economy

Tue, 03 Apr 2012 00:00:00 +0100

Signs of economic expansion from latest figures

Grant Thornton accused in Tchenguiz case

Fri, 25 May 2012 00:00:00 +0100

Accountants embroiled in Serious Fraud Office's against Tchenguiz

HMRC cybercrime unit to fight organised crime

Tue, 13 Mar 2012 00:00:00 Z

Specialist unit to tackle organised fraud against the repayments system

RSM expands reach in Asia

Wed, 15 Aug 2012 10:00:00 +0100

Firm joins forces with DTL to boost operations in Vietnam

Ofgem FD joins oversight authority

Tue, 03 Apr 2012 00:00:00 +0100

ICAEW member David Pimm to sit on board of Gas and Electricity Markets Authority

FSA bans Pied Piper broker over poaching case

Wed, 16 May 2012 00:00:00 +0100

FSA bans broker Tony Verrier from working in financial services ever again

Penguin deal sign of sector consolidation

Wed, 31 Oct 2012 12:29:00 Z

Deals involving publishing giants Random House and Penguin show sector consolidation say experts

HMRC to invest £34m in telephone services

Fri, 10 Aug 2012 00:00:00 +0100

1,000 additional staff recruited in a bid to improve standards

BDO and PKF partners finalise merger

Tue, 11 Dec 2012 00:00:00 Z

BDO and PKF partners have formally agreed the terms of their merger

Half of tax schemes undetected by HMRC

Fri, 07 Dec 2012 12:15:00 Z

HMRC has told the Public Accounts Committee over half of tax avoidance schemes go undetected

Nadir sentenced to 10 years

Thu, 23 Aug 2012 15:00:00 +0100

Asil Nadir sent to jail for stealing £29m from Polly Peck International

In other news...

Fri, 07 Sep 2012 07:00:00 +0100

What else happened in the world this week?

AML failings cost Turkish bank

Thu, 02 Aug 2012 00:00:00 +0100

Turkish Bank UK has been fined £294,000 for breaching Money Laundering Regulations

First recommendations for "simple" financial products

Thu, 02 Aug 2012 00:00:00 +0100

"Kite mark" for simple products among new proposals

Manufacturers report improvements in borrowing costs

Tue, 28 Aug 2012 12:00:00 +0100

The BoE's funding for lending scheme is starting to impact, says EEF

GDP revised up

Fri, 24 Aug 2012 11:00:00 +0100

ONS revises initial estimate of -0.7% to -0.5%

Tax should be key to foreign aid policy, say MPs

Thu, 23 Aug 2012 08:00:00 +0100

Tax collection should be central to the UK’s foreign aid strategy, according to a cross-party committee of MPs

Retail sales see welcome boost

Thu, 16 Aug 2012 11:30:00 +0100

UK retail sales rose 0.3% in July, raising some optimism about the state of the UK High Street

HMRC launches new campaign against tax dodgers

Tue, 18 Sep 2012 16:00:00 +0100

New taskforces to tackle tax evasion around the UK

Bonuses drop as City shrinks

Tue, 13 Nov 2012 10:23:00 Z

Hong Kong is set to overtake London as the world’s financial centre in the next three years

Flexible parental leave to be introduced

Tue, 13 Nov 2012 11:30:00 Z

Fathers will be able to play a greater role in raising their children, if government proposals get the go ahead

FSA fines Barclays record £59.5m as Diamond gives back bonus

Wed, 27 Jun 2012 00:00:00 +0100

Bank's LIBOR and EURIBOR rates manipulated to suit derivatives traders

BBC to review pay structure

Tue, 17 Jul 2012 00:00:00 +0100

The BBC has said that it will review the way some of its staff are paid amid concerns over tax payments

Entrepreneur of the year awards

Thu, 28 Jun 2012 00:00:00 +0100

Ernst & Young celebrates British enterprise

15 major companies eye return to UK

Mon, 23 Jul 2012 00:00:00 +0100

Move follows drop in the corporation tax rate and changes to controlled foreign company rules

In other news...

Fri, 14 Sep 2012 06:00:00 +0100

What else happened in the world this week?

Kay review calls for end for short termism

Tue, 24 Jul 2012 00:00:00 +0100

An influential government review calls for a longer term approach to business

Accountancy proves popular career choice

Thu, 05 Jul 2012 00:00:00 +0100

Demand among graduates for jobs in accountancy increasing, research shows

Business leaders agree executive pay is too high

Mon, 20 Aug 2012 10:00:00 +0100

Most business leaders globally believe senior executives are paid too much, according to research

Government considers changes to accessing personal data

Wed, 22 Aug 2012 10:30:00 +0100

Businesses may be required to give consumers access to their personal transaction data

UK construction data down

Tue, 03 Jul 2012 00:00:00 +0100

Sector fell at fastest pace for two and a half years

BIS consults on Nuttall buy-backs

Tue, 30 Oct 2012 14:00:00 Z

The government is to consult on share buy-back elements of employee ownership schemes

PM encourages budding entrepreneurs

Tue, 29 May 2012 00:00:00 +0100

New loan scheme planned to support young entrepreneurs

UK business could do more for economy

Thu, 20 Sep 2012 11:30:00 +0100

ICAEW has challenged the business sector to show “real leadership”

Cable makes key SME reporting requirement changes

Thu, 06 Sep 2012 12:03:00 +0100

Government has announced changes to reporting requirements that it says could save businesses millions of pounds

New IPO route for high growth companies

Thu, 20 Sep 2012 17:30:00 +0100

A new route to the UK IPO market is among ambitious proposals from BIS and the LSE

Accountant is "Usain Bolt of crosswords"

Tue, 23 Oct 2012 08:54:00 +0100

The CFO of REA Holdings finished the competition so early he had time to do another just for fun

SME tax help launched

Thu, 27 Sep 2012 11:30:00 +0100

HMRC has designed a new email service to help SMEs with their tax affairs

Kingsbury joins UKGIB as CEO

Thu, 27 Sep 2012 13:05:00 +0100

Renewable energy investor Shaun Kingsbury latest to join the bank's board

Services sector shows growth

Fri, 28 Sep 2012 11:00:00 +0100

The service industries saw output increase by 1.1% from June to July this year

In other news…

Fri, 03 Aug 2012 00:00:00 +0100

What else has happened in the world this week?

Doubts raised over deficit plans

Tue, 21 Aug 2012 18:30:00 +0100

The government’s deficit reduction plan suffered a blow today as it was revealed it borrowed £600m in July

Bleak outlook for UK business

Tue, 18 Sep 2012 14:00:00 +0100

UK businesses are increasingly gloomy about their growth prospects in the short term, says ICAEW research

Ernst & Young reports soaring UK revenues

Tue, 02 Oct 2012 05:00:00 +0100

Ernst & Young has posted an 11% increase in revenues

eBay under fire for tax payments

Mon, 22 Oct 2012 00:00:00 +0100

eBay has been accused of only paying £1.2m of tax in the UK, despite making profits of £181m

Kate Swann stands down from WHSmith

Thu, 11 Oct 2012 09:27:00 +0100

Chief executive of WHSmith Kate Swann is to leave the retailer after nine years

Duncan Smith attacks Labour tax credit record

Mon, 31 Dec 2012 10:55:00 Z

Work and pensions secretary Iain Duncan Smith has attacked the tax credit system put in place by Labour

Deloitte reports 11% increase in UK revenues

Fri, 17 Aug 2012 07:00:00 +0100

Deloitte has posted an 11% increase in its UK revenues for the last year, citing its investment in the business

Court of Appeal backs HMRC in tax avoidance case

Tue, 17 Jul 2012 00:00:00 +0100

The appeal court has upheld HMRC's claim against an avoidance scheme marketed by a major accountancy firm

Mid-sized firms not keen to move into exporting

Tue, 17 Jul 2012 00:00:00 +0100

The government may be disappointed if it expects mid-sized businesses to drive its export strategy, research says

FTSE remuneration up 27%

Tue, 06 Nov 2012 17:43:00 Z

Despite pay and bonus growth grinding to a halt, remuneration overall was up 27% for FTSE 100 chiefs

BDO and PKF set to merge

Wed, 07 Nov 2012 10:50:00 Z

Mid-tier rival firms BDO LLP and PKF LLP are in advanced discussions to merge at the start of next year

Gender pay gap set to widen

Wed, 07 Nov 2012 09:02:00 Z

The pay gap between men and women is at risk of widening for the first time since records began

BDO commends "hot" FDs

Wed, 07 Nov 2012 17:19:00 Z

Report investigaes the characteristics that make a successful FD

New forum for institutional investors

Wed, 25 Jul 2012 00:00:00 +0100

Capital & Counties' chair to encourage more dialogue between FTSE 350 audit committees and institutional investors

Izza denies large firms' involvement in tax avoidance

Wed, 07 Nov 2012 19:03:00 Z

The UK’s largest accountancy firms steer clear of artificial tax avoidance schemes, said Michael Izza

Patently clear

Wed, 28 Nov 2012 10:37:00 Z

HMRC is harnessing the widespread appeal of YouTube to disseminate information about a new tax break for companies

Abusive tax avoidance scheme closed

Fri, 21 Dec 2012 14:33:00 Z

A tax avoidance scheme designed for companies to artificially reduce their corporation tax has been shut down

ICAEW calls for government CFO role

Thu, 08 Nov 2012 00:00:00 Z

The ICAEW has called for a chief finance officer to be appointed at government

Government outlines plan to boost economy

Thu, 06 Sep 2012 13:03:00 +0100

Downing Street is seeking to build momentum for an economic kick-start

FRC disciplinary process needs more accountability, says ICAEW

Mon, 24 Sep 2012 13:30:00 +0100

Changes to disciplinary process put good governance at risk

JJB Sports to call in administrators

Mon, 24 Sep 2012 09:30:00 +0100

Troubled sports retailer to sell off assets and brands

Barclays and Lloyds top complaints list

Wed, 12 Sep 2012 16:30:00 +0100

Barclays and Lloyds top league of complaints to Financial Ombudsmen Service

EC audit proposals back on table

Thu, 27 Sep 2012 12:30:00 +0100

Seven-year rotation among latest proposals from MEP in the European audit debate

PPI leads to FS complaints hike

Thu, 27 Sep 2012 10:00:00 +0100

Complaints to financial services firms shot up by 59% over the first six months of 2012, the FSA says

SMEs delay dividends for tax drop

Wed, 06 Jun 2012 00:00:00 +0100

SMEs defer shareholder dividend payments to wait for the drop in higher rate tax

IASB release hedge accounting proposals

Fri, 07 Sep 2012 17:00:00 +0100

IASB attempts to link risk management, the rationale for hedging and financial statements

Mortgage lending falls to record low

Wed, 26 Sep 2012 09:05:00 +0100

Mortgage lending reached a record low in August, as the Bank reveals more details of the Funding for Lending

Will-writing should be reserved activity

Thu, 27 Sep 2012 14:00:00 +0100

The Legal Services Board wants will-writing and estate administration to be reserved activities

EU backs ten state financial transactions tax

Tue, 23 Oct 2012 16:21:00 +0100

The European Commission has backed plans for a financial transactions tax supported by 10 member states

Divestment integral to business strategy

Tue, 30 Oct 2012 11:00:00 Z

Companies that buy or sell divestments during recessions outperform their index, Deloitte reveals

Companies struggling over carbon reporting

Fri, 12 Oct 2012 12:30:00 +0100

Research by Grant Thornton suggests many companies are struggling to implement sustainability measures

HMRC issues draft changes to business investment relief

Mon, 11 Jun 2012 00:00:00 +0100

HMRC is consulting on draft legislation to extend the grace period for business investment relief

Business needs to "fight back"

Thu, 19 Apr 2012 15:51:00 +0100

CBI launches campaign to present the business perspective on tax payments

New vice chair for E&Y global tax practice

Tue, 10 Apr 2012 00:00:00 +0100

David Holtze has been named as global vice chair of Ernst & Young’s $6bn tax practice

Expenses being forged with "frightening ease"

Thu, 31 May 2012 00:00:00 +0100

Research suggest 53% of workers with access to an expense account put through inflated claims

UK highest riser in tax index

Wed, 26 Sep 2012 12:00:00 +0100

KPMG finds the UK is ranked sixth among 14 major economies for having a conducive tax regime

Standard Chartered order angers US Treasury

Wed, 08 Aug 2012 00:00:00 +0100

NY agency move angers US Treasury and Federal Reserve

Cameron pressed over growth

Mon, 10 Sep 2012 11:00:00 +0100

EEF urges Cameron to do something "more and different"

Pessimism gains ground among UK businesses

Mon, 10 Sep 2012 10:00:00 +0100

British businesses are the gloomiest they have been for 20 years, says BDO

BCC calls for "political backbone" to stimulate growth

Fri, 31 Aug 2012 00:00:00 +0100

The British Chambers of Commerce is predicting the economy will shrink overall this year

Germany and France see unexpected growth rates

Tue, 14 Aug 2012 11:40:00 +0100

Eurostat estimates better GDP perfomances than expected

Foreign-owned companies could owe £11bn in tax

Tue, 28 Aug 2012 16:30:00 +0100

HMRC defies accusations of a light-touch approach

RSM Tenon fined by ICAEW

Wed, 05 Sep 2012 12:30:00 +0100

Firm seriously reprimanded for not following International Standards on Auditing

In business with society

Mon, 06 Aug 2012 00:00:00 +0100

A new initiative seeks to define the future covenant between business and society

Speeding up late payment

Thu, 02 Aug 2012 00:00:00 +0100

The government has joined forces with small business representative bodies to tackle the problem of late payment

FATCA implementation moves closer

Thu, 26 Jul 2012 00:00:00 +0100

The UK government has taken a major step towards strengthening its ability to tackle tax evasion

In other news…

Fri, 02 Mar 2012 14:21:00 Z

economia’s take on 20-24 February

Mashable website rumoured to be $200m CNN target

Tue, 13 Mar 2012 00:00:00 Z

Niche social media news site eyed by CNN

In other news...

Fri, 24 Aug 2012 07:00:00 +0100

What else happened this week?

In other news…

Fri, 10 Aug 2012 00:00:00 +0100

What else has happened in the world this week?

FSA clamps down on mis-selling culture

Wed, 05 Sep 2012 10:00:00 +0100

Review of 22 firms uncovers questionable incentive schemes and calls for cultural change

Pension contributions flatline

Wed, 02 Jan 2013 11:28:00 Z

Pension contributions from small businesses stayed static last year

Roxburgh appointed as financial services director at Treasury

Fri, 21 Dec 2012 10:50:00 Z

Charles Roxburgh has been appointed director general for financial services at the Treasury

“Electrify” bank ringfences say MPs

Fri, 21 Dec 2012 10:45:00 Z

Britain’s banks face the possibility of being broken up following the banking commission report

FRC extends auditors' reporting requirements

Fri, 28 Sep 2012 11:30:00 +0100

Auditors will have to report by exception if they don’t agree that the annual report is fair

10-year audit tendering for listed companies

Fri, 28 Sep 2012 12:30:00 +0100

FTSE 350 companies will have to put their audit out to tender at least once every 10 years, the FRC says

IFRS opens first overseas office

Thu, 15 Nov 2012 13:58:00 Z

The IFRS Foundation can claim to be a truly international body for the first time

Businesses expect growth in Q2 2012

Tue, 08 May 2012 00:00:00 +0100

Business confidence has improved in the last three months, suggesting the UK will return to growth in Q2

Employee productivity falls to five-year low

Mon, 30 Jul 2012 00:00:00 +0100

PwC survey suggests return on investment for human capital has fallen

Lawyer wins corporate finance award

Wed, 03 Oct 2012 10:00:00 +0100

Slaughter & May partner William Underhill has been presented with an Outstanding Achievement Award

Treasury consults on LIBOR reform

Fri, 10 Aug 2012 00:00:00 +0100

Current system not fit for purpose

KPMG appoints global investment head

Tue, 17 Jul 2012 00:00:00 +0100

KPMG has appointed Tom Brown to head up its global investment practice

RBS posts £1.5bn loss

Fri, 03 Aug 2012 00:00:00 +0100

First-half loss nearly doubles from same period last year

Budget tax changes come into effect

Mon, 01 Oct 2012 12:30:00 +0100

The national minimum wage is increasing from today, with other tax changes coming into effect

Retail sales see unexpected drop in August

Fri, 24 Aug 2012 00:00:00 +0100

British retailers reported an unexpected drop in sales in August according to the CBI

HMRC to shelve PAYE pooling change

Thu, 09 Aug 2012 00:00:00 +0100

Concession to allow current pooling agreements

Clegg calls for higher tax on wealthy

Wed, 29 Aug 2012 08:30:00 +0100

The deputy prime minister has said government should consider a short-term higher rate of tax

Alistair Darling gives advice to George Osborne

Mon, 20 Aug 2012 08:30:00 +0100

The Chancellor has been told his economic plans could cause “immeasurable damage”

Government to help the High Street via market campaign

Wed, 22 Feb 2012 00:00:00 Z

ICAEW welcomes government plans in response to The Portas Review

NAO appoints two to the board

Thu, 21 Jun 2012 00:00:00 +0100

Two new non-executive members have been appointed to the National Audit Office Board

ICAEW signs deal with Indonesian institute

Thu, 09 Aug 2012 00:00:00 +0100

Two bodies will advance the accountancy profession in Indonesia

HMRC wealth team pull in extra 500m

Tue, 11 Sep 2012 16:55:00 +0100

An extra £500m has been collected in tax since HMRC opened a special wealth unit

EC launches plan to tackle tax evasion

Thu, 06 Dec 2012 15:25:00 Z

Measures to deal with tax evasion and avoidance have been launched by The European Commission

Starbucks 'makes a mockery' of tax system

Fri, 07 Dec 2012 00:00:00 Z

Tax profession reacts angrily to Starbucks climb-down

Mixed response to Autumn Statement

Wed, 05 Dec 2012 15:06:00 Z

There has been a mixed response to today’s autumn statement from the business community

BDO reports falling business optimism

Mon, 10 Dec 2012 13:59:00 Z

Inflationary expectations have fallen to a 31-month low, according to the latest business trends report from BDO

HSBC settle £1.2bn US laundering case

Tue, 11 Dec 2012 11:33:00 Z

HSBC has agreed to pay 1.2bn to settle a money laundering case by the US authorities

Occupy was right, says BoE official

Tue, 30 Oct 2012 13:00:00 Z

Andrew Haldane supports moral and intellectual case behind protest

CFO to take reigns at G4S

Tue, 21 May 2013 11:00:00 +0100

The CFO of global security group G4S Ashley Almanza is to take over from Nick Buckles as chief executive

UK in "economic war" says PM

Mon, 19 Nov 2012 12:04:00 Z

PM compares cutting red tape in Britain to the equivalent of an "economic war"

BDO resigns as auditor of Birmingham City FC

Fri, 02 Nov 2012 09:22:00 Z

The auditors of Birmingham City FC have resigned, saying they have been unable to obtain reliable information

In other news...

Fri, 02 Nov 2012 09:53:00 Z

What else happened in the news this week?

Indirect taxes decline globally

Tue, 15 Jan 2013 15:17:00 Z

A survey has revealed indirect taxes have declined worldwide, while average corporate tax has dropped slightly

Small businesses face profit struggle

Fri, 11 Jan 2013 10:17:00 Z

Small business are facing much higher levels of distress than large businesses, according to insolvency body R3

Companies think fraud is on the up

Thu, 08 Nov 2012 17:00:00 Z

Deloitte survey says continuing economic uncertainty is fuelling fear of fraud

Law Society gives evidence over privilege

Thu, 08 Nov 2012 15:10:00 Z

As a profession, lawyers are “special” compared to other professionals, according to the Law Society

Family businesses unloved by government

Fri, 09 Nov 2012 10:30:00 Z

PwC survey suggests family businesses feel neglected

In other news...

Fri, 09 Nov 2012 09:49:00 Z

What else happened in the world this week?

NIC refunds on car allowances?

Fri, 09 Nov 2012 16:30:00 Z

Employers could be due an NIC refund on business mileage following the Court of Appeal judgment in Total People

Global M&A activity half of 2007 levels

Wed, 12 Dec 2012 12:07:00 Z

Global M&A activity has slumped by 12% in 2012, Ernst & Young research shows

EC unveils corporate governance action plan

Wed, 12 Dec 2012 18:05:00 Z

The European Commission announces plans to encourage shareholder engagement and make cross-border business easier

Sants to join Barclays

Thu, 13 Dec 2012 09:31:00 Z

Former chief executive of the Financial Services Authority Hector Sants is to join Barclays Bank

Mixed response to GAAR proposals

Wed, 12 Dec 2012 10:25:00 Z

Mixed response from the tax profession to the draft proposals on GAAR

HMRC asked to investigate Prince Charles estate

Mon, 17 Dec 2012 09:45:00 Z

HMRC has been asked to investigate suspected tax avoidance by Prince Charles’ £700m hereditary estate

US rapped for IFRS indecision

Wed, 12 Dec 2012 18:31:00 Z

Ian Mackintosh said IFRS will not be a global standard unless it is “uniformly implemented and applied"

AIM holds off eurozone crisis

Mon, 29 Oct 2012 13:30:00 Z

Smaller alternative index outperforms LSE's main market

Industrial production falls for 17th month

Tue, 09 Oct 2012 14:46:00 +0100

The UK's industrial production fell in August for the 17th month in a row, according to official figures

Unions condemn plans over employee ownership

Tue, 09 Oct 2012 11:00:00 +0100

Government plans to allow businesses to trade employee rights for shares has come under attack

US to sign tax evasion agreement with Jersey and Guernsey

Tue, 09 Oct 2012 15:30:00 +0100

Agreement aimed at uncovering tax evasion in Jersey and Guernsey by US citizens

E&Y to boost US staff by 20%

Wed, 10 Oct 2012 10:30:00 +0100

Ernst & Young’s US arm expects to take on more than 10,000 new employees over the next eight months

Christmas deadline for Libor comment

Wed, 28 Nov 2012 12:05:00 Z

The government has issued draft secondary legislation

In other news…

Fri, 25 May 2012 00:00:00 +0100

What else has happened in the world this week?

FRC: Net debt reconciliations helpful

Mon, 17 Sep 2012 15:30:00 +0100

Investors say they are given confidence by voluntary net debt disclosures

Health and safety inspections cut in red tape drive

Mon, 10 Sep 2012 08:40:00 +0100

The government is exempting thousands of businesses from safety inspections as part of its deregulation drive

NAO slams Whitehall shared services

Wed, 07 Mar 2012 00:00:00 Z

NAO severly criticises attempts to economise back-room functions

Need for balance in financial regulation

Mon, 21 May 2012 00:00:00 +0100

Speakers call for balance in financial regulation at ICAEW summit

HMRC introduces new tax penalty regime

Wed, 15 Feb 2012 00:00:00 Z

HMRC will introduce its new penalty regime for late filing of tax

In other news…

Fri, 18 May 2012 00:00:00 +0100

What else has happened in the week of 14-18 May?

In other news...

Fri, 11 May 2012 11:28:00 +0100

What else has happened in the world this week? economia’s take on 7 - 11 May

IFAC top job goes to World Bank man

Mon, 18 Jun 2012 00:00:00 +0100

ICAEW member Fayez Choudhury has been appointed chief executive of IFAC

Accountant thrown out of ICAEW for serious misconduct

Thu, 03 Jan 2013 14:58:00 Z

ICAEW member thrown out for failing to hand over nearly £90,000 to the Insolvency Service

Grant Thornton appoints head of UK restructuring

Mon, 07 Jan 2013 11:29:00 Z

Shaun O’Callaghan has been appointed as UK head of restructuring at Grant Thornton

Dishonest ICAEW member excluded for lying

Fri, 04 Jan 2013 10:21:00 Z

Former high-flying finance director expelled for lying about his wealth during divorce proceedings

Common fraud phrases revealed

Fri, 04 Jan 2013 16:54:00 Z

New FBI technology has revealed the most common words and phrases used by employee fraudsters

E&Y makes $117m audit pay-out

Tue, 04 Dec 2012 10:44:00 Z

Ernst & Young is to pay £73m to settle a class action over failed audit client Sino-Forest Corporation

Bank lending falls further

Tue, 24 Jul 2012 00:00:00 +0100

Total lending to the UK economy looks set to shrink even further this year, the Ernst & Young ITEM Club says

Online ad spend nears tipping point

Fri, 06 Jul 2012 00:00:00 +0100

Businesses that do not embrace online advertising block out almost half the entire UK ad spend

Growth goal may be some years ahead, says King

Wed, 08 Aug 2012 00:00:00 +0100

As widely expected, the Bank of England has slashed its economic growth forecast

Menzies merger with TAL-London will create £10m operation

Mon, 06 Aug 2012 00:00:00 +0100

£10m operation to be formed in London

Unemployment falls in April

Wed, 20 Jun 2012 00:00:00 +0100

Unemployment in the UK fell by 51,000 to 2.61 million in the three months to April

Former HMRC official sentenced for tax fraud

Wed, 05 Dec 2012 15:09:00 Z

A former tax official is among 14 people ordered to pay back over £1m for taking part in a £1.2m tax fraud

What is the point of IFRS for SMEs?

Thu, 06 Dec 2012 09:25:00 Z

IASB must determine the purpose of IFRS for SMEs before deciding the detail, ICAEW says

Privilege: the elephant in the room

Fri, 09 Nov 2012 17:08:00 Z

Julia Irvine considers the real issue at stake after a week of legal wrangling between lawyers and accountants

ICAEW apologises to members

Wed, 05 Dec 2012 15:15:00 Z

Over 700 ICAEW members have their audit qualification withdrawn after an administrative error is discovered

Grant Thornton fined by ICAEW

Thu, 06 Dec 2012 08:45:00 Z

GT UK fined £10,000 by ICAEW for failing to obtain sufficient audit evidence in two audits

ECJ sends Littlewoods back to UK courts

Thu, 19 Jul 2012 00:00:00 +0100

A VAT dispute that could have cost HMRC billions has been referred back to UK courts

PwC restructures Northern practice

Thu, 24 May 2012 00:00:00 +0100

Firm wants to focus on different growth opportunities of unique regions

HMRC hails tax avoidance successes

Tue, 21 Aug 2012 08:30:00 +0100

HMRC is hailing success after challenging three tax avoidance schemes in the courts, worth a total of £200m

CFOs fear losing key staff to competition

Wed, 29 Aug 2012 11:00:00 +0100

Turnover among finance staff is a major headache for CFOs

HMRC criticised over lost alcohol tax

Wed, 29 Aug 2012 12:00:00 +0100

MPs have said that billions of pounds in tax is uncollected every year because of alcohol smuggling

Mid-tier company audit exemption dropped

Tue, 18 Sep 2012 17:30:00 +0100

MEPs reject proposals to exempt mid-tier firms from statutory audit requirements

Porn merchant convicted of VAT fraud

Fri, 24 Aug 2012 13:00:00 +0100

Kenneth Drake made claims through non-existent companies

Director banned for failing to produce accounting records

Thu, 25 Oct 2012 12:00:00 +0100

Edinburgh-based director is banned for failing to produce accounting records

E&Y take BG Group audit from PwC

Thu, 25 Oct 2012 13:18:00 +0100

Ernst & Young has won the audit work for BG Group from close rival PwC, who had held the contract for 12 years

Economy "stagnated" in 2012

Tue, 08 Jan 2013 16:16:00 Z

The UK economy has “stagnated” in 2012 and changed little since the same period in 2011

“No quick win” for banking sector says ICAEW

Wed, 09 Jan 2013 11:12:00 Z

Vernon Soare said “there is no quick win” to ensure development of professional standards in the banking sector

Pensioner sentenced after Snorestopper VAT fraud

Fri, 11 Jan 2013 17:50:00 Z

A pensioner from Leeds who claimed to sell anti-snoring devices in a £280,000 VAT fraud has been jailed

PwC appointed as Jessops administrator

Thu, 10 Jan 2013 12:01:00 Z

PwC has been appointed as administrator for camera retailer Jessops

SimpleTax launch online tax filing system

Tue, 08 Jan 2013 14:10:00 Z

SimpleTax launch US-style online tax filing system

Cameron warns on corporation tax

Fri, 11 Jan 2013 17:17:00 Z

David Cameron has warned some of Britain’s biggest companies corporation tax will remain high on the agenda

SEC charges KPMG auditors over collapsed bank

Wed, 09 Jan 2013 17:19:00 Z

Two KPMG auditors have been charged by the US SEC over collapsed Nebraska bank TierOne

CEO of new competition body announced

Tue, 08 Jan 2013 16:20:00 Z

ComReg chair Alex Chisholm is to be CEO of the Competition and Markets Authority

QE and interest rate held

Thu, 10 Jan 2013 15:15:00 Z

The Bank of England has announced the interest rate will remain at 0.5% and QE on hold

Director banned over inaccurate accounts

Tue, 12 Feb 2013 12:59:00 Z

The boss of two failed recruitment agencies has been disqualified from acting as a director for six years

Stay in EU but renegotiate, BCC survey says

Mon, 15 Apr 2013 12:15:00 +0100

BCC finds a surprisingly large minority of UK business think leaving EU a positive move

HMRC targets VAT dodgers

Wed, 09 Jan 2013 11:00:00 Z

HMRC is launching a campaign to target businesses that have failed to submit VAT returns

New IASB appointment

Thu, 15 Nov 2012 14:46:00 Z

Mary Tokar, global head of KPMG’s international financial reporting group, has been appointed to the IASB

Baker Tilly welcomes HMRC rule change for teachers

Fri, 17 Feb 2012 00:00:00 Z

Baker Tilly applauds rethink over status of teachers and trainers

The "secret ingredients" to CFO greatness

Thu, 17 May 2012 00:00:00 +0100

Experts consider what makes the difference between being a good and a great CFO

SMEs miss out on £2bn of expenses and VAT

Mon, 16 Apr 2012 00:00:00 +0100

Research suggests that £2bn per year is going unclaimed

Scotland to set up own tax agency

Fri, 08 Jun 2012 00:00:00 +0100

Scotland will set up its own tax collecting service with a mandate for the collection of land and property taxes

Less regulation for retailers and manufacturers

Fri, 23 Mar 2012 00:00:00 Z

The government is seeking consultation aimed at freeing up manufacturers and retailers

Investors claim audit has lost its way

Fri, 15 Jun 2012 00:00:00 +0100

Institutional investors believe that the audit has become “too much of a utility product”

KPMG: building societies to take key banking role

Mon, 10 Sep 2012 15:20:00 +0100

Building societies are poised to play key banking role, says KPMG

MP calls for Google tax affairs to be questioned

Tue, 14 Aug 2012 08:44:00 +0100

MPs consider questioning web giant Google over its tax affairs

Vantis tax boss sent down

Wed, 24 Oct 2012 17:27:00 +0100

A second Vantis tax adviser has been sent to prison for four years for his part in a £70m tax scam

Regulatory changes tie up CFOs

Tue, 04 Sep 2012 12:00:00 +0100

UK executives are spending more time dealing with changing regulatory requirements

In other news...

Fri, 17 Aug 2012 07:00:00 +0100

What else has happened in the world this week?

Grant Thornton poaches Andrews from KPMG

Mon, 08 Oct 2012 11:30:00 +0100

Andrews brings of 30 years' experience in accounting, investigations and forensics

UK to promote intellectual property in developing countries

Tue, 02 Oct 2012 12:00:00 +0100

Intellectual Property Organisation to work more closely with global partners

SEC charges Big Four over Chinese audits

Tue, 04 Dec 2012 09:33:00 Z

SEC loses patience with firms over their refusal to disclose Chinese audit work papers

Iron man in charge

Thu, 29 Nov 2012 13:08:00 Z

PwC partner Richard Keers is to take over as CFO of global asset management company Schroders next year

Deloitte and KPMG named in HP case

Thu, 29 Nov 2012 16:36:00 Z

Deloitte and KPMG named in a lawsuit by a HP shareholder for failing to spot accounting irregularities on Autonomy

Views on tax competence sought

Fri, 30 Nov 2012 12:47:00 Z

The government has called for evidence on the balance of tax competence between the UK and the EU

Economia wins top awards

Thu, 29 Nov 2012 12:09:00 Z

Economia walked off with two prizes last night at the prestigious 2012 CMA International Content Awards

Like for like sales figures not comparable

Tue, 15 Jan 2013 11:19:00 Z

Like for like sales figures not comparable and no guarantee of profitability, says ICAEW

Farepak director wants charges struck out

Tue, 15 Jan 2013 12:26:00 Z

Rollason applies to have FRC disciplinary charges struck out

Deloitte finalises acquisition of Monitor

Mon, 14 Jan 2013 11:01:00 Z

Deloitte strengthens its consultancy arm with the acquisition of global strategy consultants

Grant Thornton keeps top spot for M&A deals

Tue, 23 Oct 2012 12:44:00 +0100

RSM Tenon is celebrating a rise from 20th to second in terms of M&A deals advsied on

EU delays debate over female board quota

Tue, 23 Oct 2012 11:30:00 +0100

The decision over proposals to impose a 40% female quota on listed boards across the EU has been delayed

Graduate salaries down on last year

Mon, 08 Oct 2012 09:04:00 +0100

Graduates starting a new job this summer will receive an average 13.2% less in salary than last year

HMRC to streamline postal service

Tue, 25 Sep 2012 15:52:00 +0100

HMRC is to change the way it handles the post in an effort to speed up response times

Schroders issues call for audit tenders

Wed, 26 Sep 2012 10:00:00 +0100

Fund manager seeks new auditor after 50-year relationship with PwC

KPMG buys equity advice firm

Fri, 19 Apr 2013 12:29:00 +0100

Firm creates new capital advisory group following its agreed acquisition of Makinson Cowell

Grant Thornton appoints Jonathan Riley head of UK tax

Thu, 17 Jan 2013 14:10:00 Z

Jonathan Riley is to replace Francesca Lagerberg as head of tax at Grant Thornton UK

European Commission unveils revised FTT

Fri, 15 Feb 2013 10:19:00 Z

The EC has formally unveiled plans for its controversial financial transaction tax

SEC pursues Deloitte China

Tue, 05 Mar 2013 13:51:00 Z

US judge says SEC can pursue efforts to gain audit papers from Deloitte’s China unit

UK lacking “clear tax strategy”

Thu, 07 Feb 2013 11:07:00 Z

IFS says he government is lacking “a clear tax strategy” and borrowing is to exceed forecasts this year

Tax contribution of UK business remains stable

Tue, 22 Jan 2013 16:33:00 Z

The tax paid by UK's big business remains stable despite cut in corporation tax

96% of SMEs unaware of RTI

Thu, 17 Jan 2013 11:59:00 Z

The vast majority of SMEs have a limited understanding or are unaware of RTI

HMRC misses targets on tax credit fraud

Thu, 14 Feb 2013 09:57:00 Z

HMRC’s attempt to stop fraud and error in the tax credits system has missed its target by around £850m

HMRC's most-wanted tax fugitives

Thu, 16 Aug 2012 09:30:00 +0100

Gallery published of top UK tax fugitives

PwC faces investigation over RSM Tenon audit

Mon, 13 Aug 2012 00:00:00 +0100

PwC faces investigation over audits of RSM Tenon Group

NAO says government budgeting hindered by poor data

Thu, 18 Oct 2012 15:51:00 +0100

A report into government budgeting finds poor quality information is hindering good decisions

Government outlines details of employee-owner scheme

Thu, 18 Oct 2012 15:30:00 +0100

BIS has detailed how it intends to implement the proposed new “employee owner” status

Citigroup CEO resigns in surprise exit

Tue, 16 Oct 2012 14:37:00 +0100

CEO of Citigroup Vikram Pandit resigns a day after the group reported an 88% drop in quarterly profits

ICAEW applies to be probate and ABS regulator

Mon, 17 Dec 2012 12:06:00 Z

ICAEW has applied to become a regulator of probate services and alternative business structures

UK taxpayers with Swiss accounts face tax crackdown

Mon, 17 Dec 2012 10:55:00 Z

Hundreds of people in the UK who have Swiss bank accounts are to be given a last chance to pay any tax due

Inflation remains stable in November

Tue, 18 Dec 2012 11:29:00 Z

Consumer prices inflation remained unchanged in November at 2.7%

PwC appoints Hughes head of real estate

Tue, 18 Dec 2012 13:54:00 Z

PwC has appointed the former head of real estate at Ernst & Young to head up its own team

HMRC "poor value for money"

Tue, 18 Dec 2012 09:02:00 Z

Callers are charged more than £130m a year in lost calls to HMRC, a report has concluded

Comet to close doors

Tue, 18 Dec 2012 10:11:00 Z

The Insolvency Service has reportedly launched an investigation into the purchase and administration of Comet

KPMG appointed auditor of Stobart Group

Tue, 25 Sep 2012 13:00:00 +0100

Big Four auditor takes away business from Ernst & Young

Third of pubs face closing time

Tue, 25 Sep 2012 13:30:00 +0100

R3 warns that more than a third of UK pubs and bars are at risk of failing

"Aggressive" HMRC yields record £21bn

Mon, 12 Nov 2012 10:14:00 Z

HMRC’s “increasingly aggressive approach” towards tax avoidance and evasion yielded a record £21bn last year

Government cracks down on Swiss bank accounts

Wed, 14 Nov 2012 10:43:00 Z

Gauke warns UK residents with Swiss bank accounts that the days of “hiding money” are over

ICAEW calls RTI "impossible"

Tue, 13 Nov 2012 12:30:00 Z

Real Time Information "will not work for many businesses"

BDO and PKF to merge in China

Mon, 12 Nov 2012 12:49:00 Z

Following news BDO and PKF are to merge in the UK, the two firms have announced plans to join forces in China

Starbucks and Amazon grilled over taxes

Tue, 13 Nov 2012 08:55:00 Z

The PAC grilled corporate giants Starbucks, Amazon and Google yesterday over “favourable” tax arrangements

New initiatives unveiled at at GEW 2012 launch

Mon, 12 Nov 2012 18:10:00 Z

This year’s Global Entrepreneurship Week kicked off with three new initiatives launched by Michael Fallon

Young entrepreneur secures funding

Mon, 12 Nov 2012 14:41:00 Z

Chester Mojay-Sinclare is one of a growing number of sefl-employed university graduates

Deloitte cuts 60 at HMV HQ

Fri, 08 Feb 2013 17:04:00 Z

Deloitte has confirmed that an additional 60 redundancies have been made at HMV’s headquarters in London

RSM Tenon reduces losses as it issues covenant warning

Tue, 26 Feb 2013 09:40:00 Z

RSM Tenon has hailed “huge progress” made in the last year, despite reporting a loss for the last six months

Eurozone recession deepens

Thu, 14 Feb 2013 11:33:00 Z

The eurozone economy shrank 0.6% in the final three months of 2012

Companies should embrace voluntary tax disclosure

Wed, 08 May 2013 12:04:00 +0100

There is a growing divide between companies’ legal reporting requirements and public expectation, E&Y believes

FSA failed to react to Libor complaints

Tue, 05 Mar 2013 16:49:00 Z

The FSA was contacted 74 times about inappropriate Libor submissions but failed to act

Share scheme rules a "tangle of complexity"

Wed, 16 Jan 2013 17:05:00 Z

The Office of Tax Simplification wants the tax rules for unapproved employee share schemes reformed

HSBC profit dips 6%

Mon, 04 Mar 2013 09:59:00 Z

HSBC has announced a pre-tax profit of £13.7bn for 2012, down 6% on the previous year and below City forecasts

Swiss referendum votes in favour of curbing executive pay

Mon, 04 Mar 2013 10:36:00 Z

A referendum in Switzerland has voted to impose some of the world’s strictest controls on executive pay

Retail figures disappoint

Fri, 18 Jan 2013 16:42:00 Z

Retail figures released today for 2012 are way below expectation

Davos series on economia

Mon, 21 Jan 2013 13:29:00 Z

This week economia will be running a series of essays from leading business thinkers on Davos

Accountant jailed for £1.8m fraud

Mon, 04 Mar 2013 14:39:00 Z

An accountant and solicitor have been jailed for six and a half years for laundering over £1.8m VAT fraud cash

Commission condemns lack of audit competition

Fri, 22 Feb 2013 08:52:00 Z

The Competition Commission has issued a damning criticism of the audit market today

Red Tape special

Tue, 05 Mar 2013 15:40:00 Z

For our Red Tape special edition in May, we want ICAEW members' views on how to cut through bureaucracy

SEC delays decision on large firms and Chinese clients

Mon, 11 Mar 2013 14:36:00 Z

SEC has delayed its decision over the Big Four and BDO’s refusal to disclose audit work papers for Chinese clients

Miliband backs 10p tax rate

Thu, 14 Feb 2013 14:53:00 Z

A Labour government would re-introduce the 10p tax rate, funded by a “mansion tax” on homes worth over £2m

RSM Tenon appoints BDO to replace PwC

Mon, 04 Feb 2013 09:02:00 Z

RSM Tenon has appointed BDO as its new auditor, after its shareholders voted not to re-appoint PwC

Mazars launches human rights project

Wed, 01 May 2013 15:25:00 +0100

Mazars, together with Shift, has launched a project to align companies' policies with human rights reporting

HMRC to chase tradespeople

Wed, 08 Feb 2012 00:00:00 Z

New technology will provide leads about whom to target

Mazars UK appoints new senior partner

Wed, 01 Aug 2012 00:00:00 +0100

Phil Verity to assume new role in September

Barclays chairman Marcus Agius resigns

Mon, 02 Jul 2012 00:00:00 +0100

The LIBOR-fixing scandal escalates as SFO considers criminal charges and Agius stands down

In other news…

Fri, 30 Mar 2012 00:00:00 +0100

What else happened during 26-30 March

BlackRock fined £9.5m by FSA

Tue, 11 Sep 2012 11:00:00 +0100

Firm admitted failures over handling client money

Economic woes hit business confidence

Mon, 30 Jul 2012 00:00:00 +0100

ICAEW/Grant Thornton UK Business Confidence Monitor reflects economic pessimism

New chair of EGIAN

Thu, 05 Jul 2012 00:00:00 +0100

Praxity's Jos van Huut is the new chairman of the European Group of International Accounting Networks

Barclays could axe tax advisory unit

Tue, 11 Sep 2012 08:40:00 +0100

Reforms at Barclays could see the bank axing its tax advisory unit as it seeks to rebuild its reputation

HMRC arrests four over £3m VAT fraud

Fri, 14 Sep 2012 08:58:00 +0100

HRMC has arrested four people over a £3m VAT fraud involveing red diesel

Government and business pledge £165m to jobs training

Tue, 11 Sep 2012 00:00:00 +0100

The government has joined with business to pledge £165m of joint investment in vocational training schemes

KPMG appoints new Yorkshire senior partner

Mon, 14 May 2012 00:00:00 +0100

High flier Chris Hearld is to take over as KPMG’s senior partner for Yorkshire

FSA bans adviser over UCIS deals

Mon, 29 Oct 2012 16:30:00 Z

Martin Rigney banned as financial adviser over unregulated collective investment schemes

Superstorm wreaks havoc on US businesses

Mon, 29 Oct 2012 17:00:00 Z

Businesses prepared for the worst as Hurricane Sandy hits New York

Nadir guilty of stealing millions from PPI

Wed, 22 Aug 2012 16:30:00 +0100

Former tycoon convicted on 10 counts of theft from Polly Peck

Competition Commission delays report into audit market

Tue, 16 Oct 2012 17:05:00 +0100

The Competition Commission extends deadline to allow more submissions

HMRC loses group tax relief case

Wed, 17 Oct 2012 17:31:00 +0100

HMRC has lost a major case involving a claim for group relief where the parent company was resident in the US

Griffith-Jones: "dogs that didn't bark but could have"

Tue, 16 Oct 2012 18:28:00 +0100

Auditors didn't warn about the financial crisis because it wasn't their job, according to John Griffiths-Jones

RSM board upbeat despite £100m loss

Wed, 17 Oct 2012 10:05:00 +0100

RSM Tenon hopes to draw a line under the past year, after posting a pre-tax loss of £101.8m

FSA strengthens listing rules

Tue, 02 Oct 2012 16:00:00 +0100

Companies with a dominant shareholder face greater corporate governance requirements

FRC issues new proposals on retirement benefits

Thu, 04 Oct 2012 13:30:00 +0100

The FRC wants to ensure consistency in the way FRS 17 is applied

KPMG appoints non-executive board

Mon, 08 Oct 2012 09:37:00 +0100

KPMG has appointed a new UK non-executive board

E and Y sued by Anglo Irish

Fri, 30 Nov 2012 09:15:00 Z

Ernst & Young has said it will "vigorously defend" itself against legal action by the former Anglo Irish Bank

Former Bank of Scotland chief to chair business bank

Thu, 20 Dec 2012 11:41:00 Z

Sir Peter Burt has been confirmed today as the chair of the group to advise on the direction of the business bank

Autonomy founder attacks claims of accounting impropriety

Fri, 28 Dec 2012 11:03:00 Z

Mike Lynch has hit out at Hewlett-Packard saying it has not been clear about alleged accounting improprieties

BoE slowness added to UK's weak recovery

Mon, 21 Jan 2013 12:06:00 Z

The BoE's fixation with "the bogey of moral hazard” slowed the recovery down, EY says

Firms loan requests up 60%

Thu, 31 Jan 2013 12:35:00 Z

Requests from accountancy firms for funding to pay tax bills have jumped 60% over the last year

Bank of Scotland fined £4.2m by FSA

Fri, 19 Oct 2012 10:30:00 +0100

Bank held inaccurate mortgage records for 0.25m customers

Mervyn King says recovery is visible

Fri, 21 Sep 2012 09:58:00 +0100

Sir Mervyn King, governor of the Bank of England, has said that there are early signs of recovery in the economy

PwC becomes top auditor among small-cap companies

Tue, 04 Sep 2012 10:30:00 +0100

Firm overtakes KPMG in terms of client numbers

UKTI appoints seven new board members

Wed, 10 Oct 2012 08:27:00 +0100

UK Trade & Investment has appointed new board members as part of a restructuring of the investment body

Former Nokia CIO joins Ernst & Young

Wed, 10 Oct 2012 11:00:00 +0100

John Clarke, former Nokia chief information officer, is to help strengthen E&Y's transaction offering

Government to name and shame late payers

Thu, 08 Nov 2012 11:00:00 Z

FTSE-250 companies that don't sign up to Prompt Payment Code will be named and shamed

E&Y partner warns of challenges facing accountancy

Mon, 05 Nov 2012 12:34:00 Z

E&Y partner warns accountants that a "number of powder kegs could blow our world apart" at today's conference

Irregular payments in SFO accounts

Fri, 02 Nov 2012 13:30:00 Z

The audit of the SFO's accounts has revealed its former chief executive received “irregular” payments

ICAEW expels paedophile

Wed, 01 May 2013 08:46:00 +0100

Member found in possession of extreme pornographic images as well as indecent photos of children

Welsh accountants see best quality of life

Wed, 10 Oct 2012 09:41:00 +0100

A survey has concluded that accountants have the best quality of life

Highly paid foreign workers paying more tax

Mon, 15 Oct 2012 13:30:00 +0100

Tax receipts have increased 23% over the past two years

SFO drops Kaupthing inquiry

Mon, 15 Oct 2012 17:12:00 +0100

The SFO is dropping its investigation into the collapse of Icelandic bank Kaupthing

Directors' pay stays modest

Mon, 03 Dec 2012 16:51:00 Z

CEOs' 2012 pay rises modest, says EY, thanks to the economy and volatile corporate performance

BCC increases UK growth forecast

Tue, 04 Dec 2012 10:27:00 Z

The British Chambers of Commerce increases its growth forecast but is still predicting the economy will contract

Francesca Lagerberg appointed to global head of tax

Tue, 20 Nov 2012 08:45:00 Z

Francesca Lagerberg is to take over from Ian Evans as global leader of tax services at Grant Thornton

BDO posts 14% revenue boost

Tue, 20 Nov 2012 11:23:00 Z

BDO has reported a 14% increase on total fee income

HP accuses Autonomy of "accounting improprieties"

Wed, 21 Nov 2012 08:44:00 Z

Hewlett-Packard has accused the former management of Autonomy of “accounting improprieties”

IFRS helps banks but hinders investors

Mon, 19 Nov 2012 15:30:00 Z

IFRS allow banks to hide risks and boost profits and bonuses, say leading investors

Grant Thornton wins NATO contract

Mon, 24 Dec 2012 11:32:00 Z

Grant Thornton is part of a consortium that has won a six-year contract to advise NATO

Companies pay less corporation tax than in 2000

Thu, 27 Dec 2012 11:08:00 Z

Companies in the UK now pay less corporation tax than they did 12 years ago, according to analysis by Reuters

Facebook under pressure for tax payments

Mon, 24 Dec 2012 12:53:00 Z

Facebook has come under renewed pressure for its tax payments to HMRC

Tax criticism damages multinational brands

Thu, 27 Dec 2012 08:00:00 Z

Accusations of tax avoidance have damaged the brand rating of Starbucks, Amazon and Google

20,000 tax returns filed over Christmas

Thu, 27 Dec 2012 12:50:00 Z

More than 20,000 tax returns have been filed over Christmas

Boxing Day boosts retailers with new record

Thu, 27 Dec 2012 12:25:00 Z

Some of the biggest retailers in the UK have reported new records for Boxing Day shoppers

Accountancy SMEs optimistic for 2013

Fri, 28 Dec 2012 12:02:00 Z

More than half of SMEs in the financial service and accountancy sector have said they expect growth next year

Retailers falling into administration up 6%

Wed, 02 Jan 2013 08:48:00 Z

The number of retailers falling into administration jumped 6% year-on-year in 2012, according to Deloitte

Bookies avoid £1bn in tax

Fri, 01 Feb 2013 11:49:00 Z

British bookmakers and casinos have avoided paying over £1bn in tax since 2009

Top law firms considering ABS

Mon, 25 Feb 2013 11:36:00 Z

Nine of the UK’s top 40 law firms may join with a non-solicitors practice in the next two years

Sterling falls after UK downgrade

Mon, 25 Feb 2013 09:30:00 Z

The pound fell during morning trading following the downgrade of Britain by Moody’s on Friday evening

Aegon appoints new auditor to replace E&Y

Mon, 25 Feb 2013 08:51:00 Z

Aegon is to appoint PwC to replace Ernst & Young as its auditor

Only 19% of SMEs ready for RTI

Mon, 04 Feb 2013 11:05:00 Z

Only 19% of SMEs are aware and ready for RTI with just two months until the new tax year

Access to SME funding getting worse

Mon, 25 Feb 2013 11:15:00 Z

Access to funding is getting worse for small and medium-sized companies, according to BDO and the QCA

HMRC warns wealthy professionals

Mon, 25 Feb 2013 09:40:00 Z

HMRC director Donald Toon has told wealthy professionals they will be “caught and dealt with” if they evade tax

£26m tax boost for HMRC

Thu, 24 Jan 2013 10:30:00 Z

HMRC got an extra £26m in tax last year from grants of £2m to help voluntary organisations deal with tax

Big Four quizzed over banking standards

Wed, 23 Jan 2013 17:22:00 Z

Big Four say they would welcome a rule to ensure firms don't provide auditing and consultancy to the same bank

LSE lists Russian corporate bond ETF

Mon, 25 Feb 2013 12:34:00 Z

Dealers can cash in on the growth of the Russian market after the LSE lists new ETF issuer

Clegg “extremely proud” of tax record

Thu, 07 Feb 2013 16:27:00 Z

Nick Clegg today said he is “extremely proud” of the government's work on tax to date

Director twins disqualified for property scam

Tue, 19 Mar 2013 14:16:00 Z

Twin brothers have been disqualified as directors for their part in a £2.5m Bulgarian property scam

Builder jailed for VAT fraud

Tue, 02 Oct 2012 12:30:00 +0100

A Canterbury builder who made fraudulent VAT refund claims has been jailed for two and a half years

Tax informer awarded $104m

Wed, 12 Sep 2012 09:06:00 +0100

Tax authorities have awarded $104m to an former banker who supplied details about hundreds of overseas tax evaders

IMF downgrades global economic forecast

Tue, 09 Oct 2012 08:54:00 +0100

UK suffers one of the biggest downgrades

PwC steers Black Cab administration

Wed, 31 Oct 2012 15:41:00 Z

PwC has been confirmed as administrator of Manganese Bronze, manufacturer and retailer of London black cabs

Ding to take over as chief executive of HKICPA

Wed, 30 May 2012 00:00:00 +0100

Raphael Ding is to take over as chief executive of HKICPA

HMRC hails "drop" in tax gap

Thu, 18 Oct 2012 12:57:00 +0100

£32bn of tax was unpaid in the year 2010/11, according to new figures from HMRC

Inflation falls to lowest level since 2009

Tue, 16 Oct 2012 11:46:00 +0100

The UK inflation rate has fallen to its lowest level for nearly three years

Investors call for auditors to probe "aggressive" accounting

Thu, 13 Sep 2012 07:00:00 +0100

Investors believe auditors should review the “aggressiveness” of companies’ financial statements

ICAEW launches interest rate guidance

Thu, 06 Sep 2012 12:00:00 +0100

Initiative follows rate-setting scandals for Libor and Euribor

Female FTSE 100 director appointments double

Fri, 30 Nov 2012 13:03:00 Z

The proportion of female directors appointments across FTSE 100 companies has doubled in the last year

Nally stays in PwC top job

Tue, 04 Dec 2012 11:19:00 Z

PwC’s Dennis Nally has been reappointed as global chairman for a second term of three years

MPs voice RTI concerns

Mon, 03 Dec 2012 11:33:00 Z

HMRC “did not convince” MPs it is fully prepared for RTI and changes to child benefit

FSA proposes new Libor rules

Wed, 05 Dec 2012 14:44:00 Z

The FSA has proposed new “clear, robust rules” for LIBOR following the Wheatley Review

Reformers target City of London elections

Fri, 30 Nov 2012 17:08:00 Z

Candidates are to be challenged to take seven pledges to rebuild trust between the public and the Square Mile

CBI: Tax avoidance about rules, not morality

Tue, 21 May 2013 11:27:00 +0100

CBI president Sir Roger Carr has said the tax avoidance debate must not focus on morality

Implementing employee ownership

Tue, 30 Oct 2012 16:00:00 Z

BIS is to investigate the possibility of setting up an independent Institute for Employee Ownership

Equal pay claims limit six years, not months

Thu, 25 Oct 2012 15:30:00 +0100

Businesses could face million pound bills following Supreme Court decision

Hundreds of retailers on brink of insolvency

Mon, 24 Dec 2012 09:52:00 Z

Thousands of retailers are facing collapse as 2013 draws to a close, with almost 140 on the brink of collapse

PCAOB finds fault with BDO audits

Fri, 04 Jan 2013 15:58:00 Z

BDO’s US practice has been reported to the SEC for a number of audit failures

Tax a “question of judgement” says Sorrell

Wed, 02 Jan 2013 13:03:00 Z

Corporation tax is a “question of judgement” says Sir Martin Sorrell

FRC consults on disclosure framework

Mon, 15 Oct 2012 15:00:00 +0100

Council issues road map for a disclosure framework around financial reporting

Government proposes changes to company reports

Thu, 18 Oct 2012 13:01:00 +0100

A strategic report will replace the business review in annual reports

KPMG appoints Downey to EMEA head role

Fri, 19 Oct 2012 12:36:00 +0100

BIg Four firm appoints new head of public sector practice

FRC increases budget

Wed, 01 May 2013 13:31:00 +0100

The FRC has increased its yearly budget to cover increased action on corporate reporting, governance and auditing

SFO charges ex-JJB chairman with forgery

Fri, 08 Feb 2013 16:46:00 Z

The former chairman of JJB Sports appeared in court today, together with his son, to face forgery charges

Treasury minister defends tax advisers

Thu, 28 Feb 2013 12:50:00 Z

David Gauke has said he is concerned about the damage the tax avoidance row is doing to the profession

10 more years for £38m VAT fraudster

Mon, 04 Mar 2013 12:28:00 Z

Jasbinder Bedesha has been handed an additional 10 years in jail for failing to pay a £14m confiscation order

PCAOB gains access to French and Finnish firms

Tue, 05 Feb 2013 00:00:00 Z

The US Public Company Accounting Oversight Board has extended its audit oversight reach into Europe

Otty urges avoidance law change

Mon, 28 Jan 2013 09:55:00 Z

E&Y's Mark Otty has told politicians to “stop banging on about morality and change the law” on tax avoidance

No “magic bullet” on tax avoidance

Tue, 05 Feb 2013 12:06:00 Z

The UK does not have a “magic bullet” to deal with large scale tax avoidance by multinationals, said Mike Williams

FTSE bonuses to be frozen in 2013

Mon, 28 Jan 2013 10:01:00 Z

FTSE 100 executives will see no increase in annual bonuses this year, according to PwC

BDO adds Cummings to financial services team

Mon, 28 Jan 2013 10:57:00 Z

BDO has appointed Kevin Cummings as tax partner

FSA considers blocking Hill

Tue, 11 Dec 2012 16:24:00 Z

A report suggests the FSA is considering blocking the appointment of Vernon Hill as chairman of Metro Bank

Three arrested over Libor investigation

Tue, 11 Dec 2012 14:44:00 Z

Three men have been arrested in connection with the investigation into the manipulation of Libor

Biggest fall in unemployment in ten years

Wed, 12 Dec 2012 12:02:00 Z

Unemployment has dropped to its lowest level since 2001

KPMG UK profits fall 13%

Mon, 17 Dec 2012 09:44:00 Z

The accounting giant reports falling profits across UK and Europe

Pearson CFO casts doubt on IFRS

Wed, 12 Dec 2012 14:36:00 Z

IFRS reporting “doesn’t actually add very much to the view of the company,” according to Pearson's CFO

UK M&A value halves since 2007

Thu, 13 Dec 2012 12:18:00 Z

The value of UK M&A activity has dropped 66% from 2007 and plummeted 36% in volume

Tax crackdown "on track" to raise £4bn

Tue, 25 Sep 2012 08:31:00 +0100

HMRC is course to raise £4bn this year as a result of its £900m campaign to tackle tax evasion

Roles of new BIS team confirmed

Fri, 07 Sep 2012 08:30:00 +0100

Business secretary Vince Cable has outlined his ministerial team's responsibilities

KPMG partner promoted to global chair of media

Fri, 26 Oct 2012 11:00:00 +0100

Graeme Ross becomes global chair of KPMG's media and telecommunications practice

Country-by-country reporting gets go ahead

Tue, 18 Sep 2012 18:00:00 +0100

The European Parliament has adopted the draft report on the transparency directive

Listed company help wanted

Fri, 02 Nov 2012 12:00:00 Z

The Financial Reporting Lab wants help developing directors’ remuneration disclosure requirements

Companies fail to disclose gender information

Fri, 02 Nov 2012 12:10:00 Z

Deloitte finds companies are failing to address gender issues in their annual accounts

Sinha wins top award

Fri, 02 Nov 2012 11:30:00 Z

ICAEW sustainability manager Rachel Sinha has walked off with the 2012 Corporate Ace Award

Romney victory would boost DOW

Tue, 06 Nov 2012 17:00:00 Z

CEBR head Douglas McWilliams analyses the effects of a Mitt Romney win

Government adopts Wheatley in full

Wed, 17 Oct 2012 16:59:00 +0100

The government is to make misleading statements about Libor a criminal offence

KPMG casts doubt on "shareholder spring"

Mon, 19 Nov 2012 10:11:00 Z

KPMG casts doubt on the impact of the “shareholder spring,” concluding pay dissent was lower than thought

IFAC elects first woman deputy

Mon, 19 Nov 2012 12:30:00 Z

IFAC has elected its first female president

Government makes £150m EOP investment

Tue, 20 Nov 2012 10:20:00 Z

The government has announced a £150m boost to create a more skilled work force

Wales could gain own tax powers

Mon, 19 Nov 2012 16:38:00 Z

Wales could be given power to decide income tax following referendum

Business confidence up for 2013

Wed, 21 Nov 2012 12:51:00 Z

Baker Tilly report reveals business confidence up for 2013 despite austerity concerns

HMRC targets property sector and rag trade

Mon, 19 Nov 2012 14:42:00 Z

HMRC has announced new taskforces aimed at collecting £17m in lost tax

Big Four dominance won't last in China

Tue, 20 Nov 2012 11:07:00 Z

RSM will challenge Big Four dominance in China, says head of Chinese practice

Crummett appointed as Morgan Sindall FD

Thu, 10 Jan 2013 09:24:00 Z

Steve Crummett has been appointed as finance director at construction and regeneration group Morgan Sindall

Treasury considers BDO SME proposals

Wed, 09 Jan 2013 12:35:00 Z

A series of BDO proposals on changes to the tax regimes for SMEs are being reviewed by the Treasury

Bar sidesteps solicitors with new service

Thu, 10 Jan 2013 17:05:00 Z

The Bar Council's new service lets barristers deal directly with corporate clients

UK industry reports weak November

Fri, 11 Jan 2013 10:29:00 Z

UK industry grew less than expected in November, adding to fears the economy contracted in the fourth quarter

Belgian queen in tax dodge row

Fri, 11 Jan 2013 15:35:00 Z

Belgian queen has been criticised by PM over inheritance tax dodge

Ex-PwC chief joins Blackstone

Fri, 11 Jan 2013 10:19:00 Z

Blackstone has appointed Gautam Banerjee chairman of its Singapore operation

LSE to launch high growth segment

Wed, 13 Feb 2013 12:52:00 Z

The London Stock Exchange is launching a new main market segment for high growth companies

British territories sign tax agreements

Thu, 02 May 2013 09:37:00 +0100

British territories have agreed to automatically share tax details in the government’s “fight against tax evasion”

RSM expands in France and Poland

Mon, 28 Jan 2013 15:17:00 Z

RSM France and RSM Poland KZWS have expanded with the addition of two new firms

Business confidence at lowest point for 21 years

Mon, 11 Feb 2013 10:01:00 Z

Business confidence in the UK has fallen to its lowest point for 21 years

Councils plan tax hikes

Thu, 28 Feb 2013 10:41:00 Z

More than 40% of councils in England are planning to increase council tax this year, according to Cipfa

FRC joins with European partners on IFRS debate

Thu, 07 Feb 2013 11:22:00 Z

A group of standard-setters wants the revised conceptual framework to reflect the needs of European stakeholders

NCA appoints KPMG fraud chief

Wed, 17 Apr 2013 10:18:00 +0100

Jeremy Outen, the current head of fraud at KPMG, has been appointed director designate of the government’s new NCA

US survey reveals pessimism over economy

Fri, 07 Sep 2012 00:00:00 +0100

Survey of accountants paints grim picture of near-term prospects

Local authorities wasting money through poor invoicing

Wed, 08 Aug 2012 00:00:00 +0100

Costs incurred by accounts payable departments may reach £30

Consultation on late payments

Thu, 20 Sep 2012 10:30:00 +0100

New European laws are aimed at tackling late payments to British businesses

CFOs wary of tax planning risks

Mon, 03 Sep 2012 17:30:00 +0100

Multinational CFOs believe that tax planning could damage their firm's reputation

Auto pension enrolment starts roll-out

Mon, 01 Oct 2012 00:00:00 +0100

Automatic enrolment into a work pension scheme starts amid warnings the impact on total savings is “ambiguous”

EU to press ahead with FTT

Wed, 10 Oct 2012 12:00:00 +0100

The European Union has sufficient support to move ahead with its proposed financial transaction tax

Deloitte compromised "professional judgement" over MG Rover

Wed, 06 Mar 2013 10:19:00 Z

Deloitte is accused of compromising its "professional and business judgement" by FRC lawyers

HMRC launches swathe of taskforces

Wed, 13 Feb 2013 11:54:00 Z

HMRC has a launched a series of new taskforces including a team to tackle self-assessment fraud in London

Deloitte appointed Blockbuster administrator

Wed, 16 Jan 2013 15:09:00 Z

DVD rental chain Blockbuster has called in administrators, just two days after HMV

E&Y in top 25 workplaces

Fri, 01 Mar 2013 11:39:00 Z

Ernst & Young has been named as one of the UK’s top 25 “best big places to work”

Positive outlook for finance job sector

Wed, 13 Feb 2013 14:40:00 Z

There is renewed optimism in the finance jobs sector for 2013 as confidence returns to the market

FSA fines Pi Financial Ltd

Thu, 20 Sep 2012 11:00:00 +0100

Company to pay £58,000 over unsuitable investment advice

Tax and advisory boosts KPMG global revenues

Thu, 13 Dec 2012 11:47:00 Z

Growth in the tax and advisory lines helped boost KPMG’s global revenues last year to $23.03bn

Google “very proud” of UK tax plan

Thu, 13 Dec 2012 10:18:00 Z

Google’s chairman has defiantly claimed he is “very proud” of the company’s controversial UK tax plan

HMRC contact 300,000 non-filers

Fri, 14 Dec 2012 10:21:00 Z

HMRC has warned 300,000 people who have failed to send in their tax returns for 2010/11

CT director disqualified for tax swindle

Fri, 14 Dec 2012 10:57:00 Z

The director of CT has been disqualified for four years owing HMRC over £900,000

IFRS 9 changes warning

Thu, 29 Nov 2012 11:15:00 Z

Proposed changes to financial instruments classification and measurement may increase volatility

RSM Tenon: profitability in line with expectations

Wed, 21 Nov 2012 09:56:00 Z

RSM Tenon reports turnover figures at the lower end of expectations

ICAEW: PIR investigations need funding mechanism

Wed, 21 Nov 2012 14:50:00 Z

ICAEW warns auditors may resort to the courts to recover costs of public interest report investigations

NAO wants DOTAS tightened

Wed, 21 Nov 2012 11:33:00 Z

HMRC told to “push harder” to tackle the most aggressive tax avoidance schemes in a NAO report

KPMG wins top award

Fri, 23 Nov 2012 12:23:00 Z

KPMG is named the 2012 global firm of the year

FRC to investigate auditors' competencies

Wed, 21 Nov 2012 11:00:00 Z

The FRC and ICAS are commissioning research on the core competencies the 21st century audit team requires

ICAEW voices concerns over government IT projects

Thu, 22 Nov 2012 10:11:00 Z

Government IT projects should not be made “on the hoof” and need strategic planning, says Richard Anning

UHY appoints Hornan as chairman

Wed, 31 Oct 2012 10:02:00 Z

Ladislav Hornan has been voted in for a second stint as chairman of UHY International

TalkTalk CFO steps down

Mon, 04 Mar 2013 11:17:00 Z

TalkTalk’s CFO, Amy Stirling, will step down at the end of May and be replaced by Stephen Makin

UK top earners face high tax burden

Tue, 06 Nov 2012 10:30:00 Z

Only five other countries impose higher tax rates on top earners

Supreme Court case begins over legal privilege

Mon, 05 Nov 2012 18:59:00 Z

The Supreme Court has begun hearing a case that could see chartered accountants granted legal privilege

Public sector accountancy job boost

Mon, 05 Nov 2012 15:00:00 Z

Government cuts expected to lead to an increase in public sector contracts for accountants

Interim group to advise on GAAR

Wed, 07 Nov 2012 12:30:00 Z

An interim advisory group is being appointed to oversee the development of the new General Anti-Abuse Rule

Privilege legal case an "unattractive clash"

Tue, 06 Nov 2012 16:36:00 Z

The Prudential case looks like an “unattractive clash” between professional commercial interests

Commissioner makes case against legal privilege extension

Tue, 06 Nov 2012 18:24:00 Z

Supreme Court hears argument that the extension of legal privilege has already been dismissed by Parliament

HMRC brings in extra £434m from SMEs

Mon, 22 Oct 2012 00:00:00 +0100

HMRC denies it is targeting SMEs after tax yield increases 39%

HMRC has got "worse rather than better"

Mon, 03 Dec 2012 10:41:00 Z

PAC says HMRC “must be more aggressive and assertive” in confronting corporate tax avoidance

Sants in talks to join Deloitte

Wed, 05 Dec 2012 10:51:00 Z

Former chief executive of the FSA Hector Sants is understood to be in talks over joinng Deloitte

Cybercrime at record levels

Tue, 23 Apr 2013 12:48:00 +0100

Virtually all British businesses have experienced cyber-attacks in the last year, according to the government

Bank culture could take generation to change

Thu, 16 May 2013 15:49:00 +0100

The Banking Commission's report will “make the Leveson enquiry look like an afternoon read”

Finance teams lack time and skills

Wed, 22 May 2013 16:12:00 +0100

Over a third of UK CFOs believe their finance teams lack the time to perform effectively

BDO and PKF complete merger

Tue, 02 Apr 2013 09:43:00 +0100

The merger between mid-tier rivals BDO and PKF has been formally completed today, BDO has announced

Aplin wins HMRC award

Tue, 13 Nov 2012 12:30:00 Z

ICAEW council member wins government award for HMRC service standards campaign

An Equitable ending

Mon, 12 Nov 2012 13:30:00 Z

The FRC has decided to drop the case against a Scottish CA over Equitable Life’s 1999 financial statements

FSA fine UBS £160m over Libor

Wed, 19 Dec 2012 10:05:00 Z

Swiss bank UBS has been fined a record £160m in relation to its handling of the Libor interbank lending rate

Shareholder spring could deter investors

Wed, 19 Dec 2012 11:48:00 Z

The "shareholder spring" might have detered some long-term investors from future engagement with boards

BDO profits drop 12%

Thu, 20 Dec 2012 10:25:00 Z

BDO has reported a 12% drop in annual profit but remain “pleased” with performance

Accountancy lags behind legal profession in gender divide

Wed, 19 Dec 2012 12:53:00 Z

Women make up only 43% of full time accountants according to new research

Quarter of finance sector witnessed fraud

Wed, 19 Dec 2012 14:33:00 Z

A quarter of senior finance and IT professionals have a witnessed document tampering by staff

Hong Kong launches investigation into UBS "misconduct"

Thu, 20 Dec 2012 10:12:00 Z

Hong Kong is investigating "possible misconduct" by UBS in submissions for the inter-bank lending rate

Export initiative launched

Thu, 18 Oct 2012 16:00:00 +0100

SMEs are to get help in accessing export markets in Southeast Asia

Three fraudulent directors sent down

Mon, 29 Oct 2012 11:30:00 Z

Trio pretended to sell a hotel they didn’t own in a VAT scam

Trainee gets reprieve over criminal conviction

Thu, 07 Feb 2013 11:08:00 Z

Employer’s “very powerful” support saves him from exclusion after violent disorder conviction

Osborne urges global avoidance clamp down

Mon, 18 Feb 2013 09:58:00 Z

George Osborne has used the G20 summit in Moscow to call for a global crackdown on tax avoidance by multinationals

KPMG to run former Anglo Irish Bank

Thu, 07 Feb 2013 11:27:00 Z

KPMG is now running the former Anglo Irish Bank after plans were passed for its liquidatation

Morrisons to buy Blockbuster stores

Mon, 18 Feb 2013 10:59:00 Z

Supermarket chain Morrisons is to buy 49 stores from the failed rental chain Blockbuster

Duff & Phelps appointed administrators at Axminster

Wed, 06 Mar 2013 09:41:00 Z

Three-quarters of the staff at Axminster Carpets are to lose their jobs after it fell into administration

FRC's ambitious plans will increase costs

Thu, 24 Jan 2013 16:43:00 Z

Companies face an 8.5% hike in their contribution to the cost of financial reporting regulation for 2013/14

Profession improves its gay-friendly status

Thu, 17 Jan 2013 17:46:00 Z

For the first year ever, the Big Four have all made it into the Stonewall Top 100 Employers 2013

Google boss defends UK tax record

Mon, 22 Apr 2013 10:15:00 +0100

Eric Schmidt has defended Google paying just £6m in corporation tax in 2011 despite revenues of £396m

RSA replaces Deloitte as auditor

Wed, 20 Feb 2013 09:15:00 Z

The FTSE 100 company RSA Insurance has appointed KPMG to take over from Deloitte as its auditor

HMRC shuts £80m medical avoidance scheme

Fri, 18 Jan 2013 12:21:00 Z

HMRC has shut down a £80m medical research tax avoidance scheme

HMRC uncovers £1bn transfer pricing

Mon, 21 Jan 2013 12:25:00 Z

Multinationals are being investigated by HMRC over £1bn of UK taxes that may have been avoided

Helping women up the executive pipeline

Fri, 19 Apr 2013 17:13:00 +0100

Ernst & Young has joined with the 30% Club to pilot a mentoring scheme targeted at younger women

BDO breached audit independence rule

Thu, 14 Mar 2013 17:49:00 Z

BDO reprimanded and fined £5,750 by ICAEW after letting partner keep shares in audit client

HMRC doubles "distraint" cases in 2012

Fri, 18 Jan 2013 15:02:00 Z

The number of businesses threatened with having assets seized by HMRC has almost doubled in the last year

Financial sector to shed jobs

Mon, 21 Jan 2013 11:19:00 Z

Despite improved profitabilty, financial services expect to shed 18,000 jobs next quarter

"Almost impossible" UK can maintain AAA rating

Tue, 15 Jan 2013 07:00:00 Z

The UK is likely to lose its AAA rating as the ratio of debt to GDP rises to 85% in 2017

Supermarkets take 58p per £1 spent

Tue, 19 Feb 2013 09:53:00 Z

For every retail pound spent in the UK, 58p is spent in supermarkets

Companies face tough going concern test

Thu, 31 Jan 2013 16:03:00 Z

The FRC proposes to implement Sharman recommendations to improve companies’ going concern reporting

Majority of firms expect slow recovery

Tue, 05 Mar 2013 09:02:00 Z

There is little optimism within the accountancy sector, with over 80% of firms expecting no recovery by 2015

Cybersecurity courses to tackle crime

Thu, 09 May 2013 10:28:00 +0100

Two universities are to start training courses in cybersecurity with government funding

KPMG risks losing HSBC contract

Thu, 07 Mar 2013 10:32:00 Z

KMPG is in danger of losing one of the biggest audit contracts in Britain as HSBC considers a replacement

Google withstands second PAC grilling

Thu, 16 May 2013 15:28:00 +0100

Search giant Google stood firm today over accusations it misled the government about its UK tax payments

Deloitte MG tribunal begins

Tue, 05 Mar 2013 11:35:00 Z

Deloitte will appear before a FRC disciplinary tribunal today over its role as auditor and adviser to MG Rover

FSA fines Lamprell £2.4m for systems failings

Mon, 18 Mar 2013 14:26:00 Z

The FSA has fined oil services group Lamprell £2,428,300 for significant failings in its systems and controls

Priest's integrity failure

Mon, 12 Nov 2012 15:00:00 Z

FSA ban for pentecostal church priest after he channels credit union funds to a church organisation

ICAEW member excluded – again

Mon, 12 Nov 2012 12:00:00 Z

A sole practitioner refused a client access to his office when she came to pick up her documents

Tax avoidance scheme thrown out by tribunal

Wed, 14 Nov 2012 17:30:00 Z

A tax avoidance scheme marketed by Ernst & Young has been thrown out by a tribunal

Heseltine review receives warm welcome

Wed, 31 Oct 2012 16:00:00 Z

Peer's 89 recommendations receive widespread support

HMRC nabs UK arms dealer

Fri, 26 Oct 2012 16:30:00 +0100

Gary Hyde found guilty in supply of arms from China to Nigeria

Berlusconi sentenced to four years in prison over tax fraud

Fri, 26 Oct 2012 15:57:00 +0100

Silvio Berlusconi, the former Italian prime minister, has been sentenced in Milan for tax fraud

Deloitte partner appointed at QCA

Thu, 11 Oct 2012 12:34:00 +0100

The Quoted Companies Alliance has appointed Deloitte tax partner Vijay Thakrar as a director

Andy Halford appointed M&S audit committee chair

Wed, 02 Jan 2013 14:54:00 Z

Vodafone chief finance officer Andy Halford has joined the Marks & Spencer board as a non-executive director

Bowers appointed group FD at Chemring

Thu, 03 Jan 2013 08:40:00 Z

Steve Bowers has been appointed as group finance director of listed defence group Chemring

HMRC resumes business records checks

Thu, 01 Nov 2012 12:30:00 Z

Businesses in London and East Anglia are in HMRC's sights as it restarts its records check visits

Accounting error causes Cambridge Council £2.3m shortfall

Mon, 07 Jan 2013 12:59:00 Z

An accounting error has resulted in a £2.3m budget shortfall for Cambridge City Council

Coalition mid-term review positive on tax

Mon, 07 Jan 2013 16:29:00 Z

The coalition will go "full steam ahead" in reforming the economy and tackling the deficit

HMRC's top tax criminals

Fri, 04 Jan 2013 07:00:00 Z

HMRC's top tax criminals of 2012 have been sentenced to a combined 155 years in prison

Small business still struggles to get loans

Fri, 04 Jan 2013 12:18:00 Z

The availability of cash for small businesses is still limited, despite the success of the FLS, says BCC

CFOs more confident in 2013

Mon, 07 Jan 2013 09:39:00 Z

Financial officers are more confident about this year than they were about 2012

Wegelin & Co to close over tax avoidance fines

Fri, 04 Jan 2013 14:15:00 Z

Wegelin & Co is set to shut its doors after pleading guilty to helping wealthy Americans avoid tax

Tax experts defend HMRC over child benefits

Thu, 03 Jan 2013 16:03:00 Z

Tax experts have defended HMRC over failure to contact third of child benefit recipients

King says “recovery in sight”

Wed, 13 Feb 2013 17:26:00 Z

Sir Mervyn King has warned inflation will remain high for longer than previously predicted

Enron CPA banned by SEC

Wed, 16 Jan 2013 12:22:00 Z

The former CFO of Enron subsidiary Enron Broadband Services has been banned from acting as an accountant

SME tax breaks proposed

Thu, 14 Feb 2013 10:32:00 Z

The government should use tax breaks to cut the estimated £59bn funding gap for SMEs

More inspectors for wealth team

Wed, 16 Jan 2013 14:59:00 Z

HMRC has announced that the team dedicated to ensuring the rich pay the tax they owe is to double in size

Lord Bilimoria praises advisors at Accountex

Thu, 22 Nov 2012 00:00:00 Z

The founder of Cobra Beer spoke at the opening of Accountex today about the importance of professional advisors

Cable opens Green Bank

Wed, 28 Nov 2012 09:42:00 Z

Vince Cable has officially opened the UK Green Investment Bank plc (UK GIB) and announced two new investments

BDO appoints former Aviva head of risk

Thu, 22 Nov 2012 13:40:00 Z

BDO boosts financial services team by making three new appointments, including the former head of risk at Aviva

UK mid-caps being pushed abroad

Mon, 29 Oct 2012 13:00:00 Z

Over 80% of UK mid-cap businesses feel optimistic about expansion abroad

Five million paid below living wage

Mon, 29 Oct 2012 11:00:00 Z

Rising taxes, inflation and stunted business growth worsen the pinch

FRC launches report on remuneration

Tue, 05 Mar 2013 14:55:00 Z

The Financial Reporting Council (FRC) has launched a report into the ‘Reporting of pay and performance’

CBI calls for tax clarity

Wed, 08 May 2013 12:24:00 +0100

The CBI has called for clarity from the government on tax, as British companies feel “confused”

E&Y in court over Worldspreads

Wed, 01 May 2013 09:33:00 +0100

A law suit brought by the failed spread-betting company could cost its former auditors millions in damages

Treasurer who abused trust excluded

Fri, 05 Apr 2013 14:24:00 +0100

A member transferred money from a Church Circuit of which he was trustee to a struggling company he part-owned

Government introduces tax-free childcare scheme

Tue, 19 Mar 2013 09:18:00 Z

The government has announced a new tax-free childcare scheme designed to help parents in work

Tax specialists' see earnings rise by 10%

Mon, 08 Apr 2013 11:08:00 +0100

Tax accountants are benefiting from the increasing complexity in tax regulation

Email undermines NAO review

Tue, 19 Mar 2013 11:25:00 Z

A leaked email involving Amyas Morse and Dave Hartnett appears to undermine an HMRC inquiry

Rake to head CBI

Wed, 20 Mar 2013 11:43:00 Z

BT chairman Sir Mike Rake is set to become president of the Confederation of British Industry

HMRC eases RTI rules for certain SMEs

Tue, 19 Mar 2013 13:28:00 Z

In "a victory for common sense", HMRC is to ease the RTI reporting arrangements for SMEs

Anticipating the 2013 Budget

Tue, 19 Mar 2013 12:21:00 Z

The chancellor has “little room for manoeuvre” in tomorrow’s Budget, the profession believes

IASB goes it alone on impairment

Fri, 08 Mar 2013 09:16:00 Z

The one set of global standards dream receives setback as the IASB reveals impairment proposals

HMRC to close 281 centres

Thu, 14 Mar 2013 17:53:00 Z

HMRC is to close all of its 281 enquiry centres by 2014 putting 1,300 jobs at risk

PAC attacks HMRC tax credit record

Wed, 22 May 2013 14:05:00 +0100

HMRC has come in for strong criticism over its record on reducing the £bns lost to error and fraud in tax credits

Amazon UK paid £2.4m in tax last year

Wed, 15 May 2013 16:50:00 +0100

The UK arm of Amazon paid £2.4m in tax last year, despite receiving £2.5m in government grants

Goldman Sachs considers delaying bonuses for tax drop

Mon, 14 Jan 2013 10:02:00 Z

Goldman Sachs is considering delaying bonus payouts until the top rate of tax falls, according to the FT

FRC clears E&Y over Lehman’s

Tue, 29 Jan 2013 13:53:00 Z

Ernst & Young has been cleared by the FRC for its role as auditor in failed investment bank Lehman Brothers

Farepak director to face disciplinary tribunal

Tue, 12 Feb 2013 16:17:00 Z

Farepak director William Rollason has lost his fight to have charges brought against him by the FRC struck out

Nestor board forgot policy

Thu, 14 Feb 2013 11:22:00 Z

The FSA fines Nestor Healthcare £175,000 for breaches which saw the board trade company shares without clearance

PwC accused of “audit negligence”

Wed, 06 Feb 2013 10:25:00 Z

Subprime lender Cattles has launched a multimillion-pound claim for damages against PwC alleging “audit negligence”

Private sector businesses reach record high

Wed, 17 Oct 2012 12:00:00 +0100

The number of private sector businesses is at an all-time high, official figures reveal

UK unemployment falls to 2.53m

Wed, 17 Oct 2012 12:13:00 +0100

The number of people out of work fell in the three months to August

Big Four grilled by MPs

Thu, 31 Jan 2013 15:31:00 Z

Tax experts from the Big Four faced a grilling from the Public Accounts Committee this morning

OTS proposes pensioner P60

Thu, 24 Jan 2013 10:39:00 Z

The OTS has called for changes to simplify the tax affairs of pensioners, including the equivalent of a P60

Fallon vows to stop EU "gold plating"

Tue, 26 Feb 2013 11:49:00 Z

Michael Fallon has announced new rules that will cut red tape by stopping “gold plating” EU legislation

Committee to find Libor administrator

Mon, 25 Feb 2013 17:37:00 Z

FRC chairman Baroness Hogg is to head up an independent committee to find a new Libor administrator

Davos 2013: Gordon Brown attacks "narrow-minded" politicians

Thu, 24 Jan 2013 12:00:00 Z

Gordon Brown has attacked “narrow-minded” politicians who failed to accept the true nature of the financial crisis

HMRC uses social media to tackle fraud

Tue, 26 Feb 2013 09:57:00 Z

HMRC is using information sharing websites including social media to assist in uncovering tax fraud

Dorset director jailed for £1m VAT fraud

Tue, 26 Feb 2013 14:37:00 Z

The director of three Dorset building companies who made fake VAT repayment claims of over £1m has been jailed

End of ransom payments in insolvencies

Tue, 26 Feb 2013 16:10:00 Z

BIS is to prevent essential suppliers to insolvent businesses from seeking an unfair advantage over other creditors

Auto enrolment 'will hurt UK business'

Tue, 26 Feb 2013 12:39:00 Z

The new auto-enrolment rule will make the UK a less attractive place to do business, UHY research says

Carnwath "amazed" at Diamond bonus

Fri, 01 Feb 2013 09:27:00 Z

Alison Carnwath says she was "amazed" when former chief executive Bob Diamond’s £2.7m bonus was recommended in 2011

VAT fraud barrister sent down

Tue, 26 Feb 2013 12:51:00 Z

A London barrister who failed to pay more than £600,000 in VAT was sentenced to three and a half years today

Government to fight anti-competitive behaviour

Wed, 30 Jan 2013 12:15:00 Z

The government is to introduce a new fast-track regime to help businesses fight anti-competitive practices

Record 93% filed returns on time

Mon, 04 Feb 2013 10:00:00 Z

A record 93% of taxpayers sent their tax returns on time this year, according to the HMRC

New MD for UCL Consultants

Mon, 04 Feb 2013 00:00:00 Z

Roger de Montfort takes over as MD at UCL Consultants

Smith to leave Weir

Thu, 02 May 2013 10:38:00 +0100

Weir Group chairman Lord Smith of Kelvin is to step down at the end of the year after nearly 11 years in the post

BDO appoints Darley as Asia Pacific CEO

Mon, 04 Feb 2013 00:00:00 Z

BDO has appointed Stephen Darley as CEO for the Asia Pacific region.

Tax evaders face five years scrutiny

Wed, 27 Mar 2013 11:55:00 Z

HMRC has launched a new scheme aimed at monitoring the tax affairs of those who deliberately evade tax

Competition Commission publishes full audit report

Tue, 26 Feb 2013 18:27:00 Z

The Competition Commission has published its full provisional report into the audit market

Joint tax and audit services push up eps

Tue, 16 Apr 2013 16:57:00 +0100

US investors have more faith in the audit when the external auditor has provided tax services as well

Six ICAs launch international initiative

Wed, 27 Feb 2013 00:30:00 Z

ICAEW has joined with five other institutes to promote the chartered accountancy qualification internationally

Labour “mansion tax” rejected

Wed, 13 Mar 2013 11:52:00 Z

Labour’s plans for a “mansion tax” on homes worth more than £2m has been rejected by the Commons

Record yield for HMRC wealth team

Mon, 22 Apr 2013 16:47:00 +0100

HMRC’s specialist wealth unit yielded a record £220m last year

Lack of confidence holds business back

Wed, 13 Mar 2013 15:35:00 Z

The chance of another banking crisis happening is “close to zero”, business secretary Vince Cable says

GAAR “narrowly focused” according to Lords report

Wed, 13 Mar 2013 11:03:00 Z

The House of Lords sub-committee on the Finance Bill has called GAAR "narrowly focused"

Fake film fraudsters convicted

Wed, 13 Mar 2013 15:31:00 Z

The team behind a supposed blockbuster starring Hollywood A-listers convicted on tax fraud

Insolvency Service almost insolvent

Thu, 14 Mar 2013 10:16:00 Z

The government’s Insolvency Service is on the verge of becoming insolvent, according to reports

The #economia50 in finance

Fri, 07 Dec 2012 08:05:00 Z

economia wants to know who you think are the top 50 most influential in finance in social media

Tchenguiz brothers seek millions from SFO

Tue, 04 Dec 2012 11:54:00 Z

The Tchenguiz brothers are to seek millions from the Serious Fraud Office after an aborted investigation collapsed

KPMG names Weir head of global building

Tue, 04 Dec 2012 15:26:00 Z

KPMG has named Andrew Weir as global head of building, construction and real estate

Advisers urged to learn their rights with HMRC

Tue, 06 Nov 2012 12:45:00 Z

Advisors must make sure they know their rights when it comes to HMRC business records checks

UK could be fastest growing economy

Mon, 05 Nov 2012 09:40:00 Z

The UK could be the fastest-growing economy in the eurozone next year

Andrew Bailey rues loss of finance fundamentals

Wed, 07 Nov 2012 17:30:00 Z

BoE's Andrew Bailey tells ICAEW audience that finance "fundamentals" have been forgotten

CFOs turning to business partnering

Mon, 05 Nov 2012 11:00:00 Z

Survey reveals finance preferences among 137 companies

Whole of Government Accounts criticised over lack of data

Wed, 31 Oct 2012 18:00:00 Z

Whole of Government Accounts have been qualified, but head of National Audit Office unhappy about lack of data

PwC forecasts hotel sector hangover

Mon, 05 Nov 2012 14:20:00 Z

After the big summer bash comes the inevitable hangover for London hotels, PwC warned today

ICAEW calls for growth

Mon, 05 Nov 2012 15:30:00 Z

Chief executive Michael Izza presents series of suggestion for economic recovery

City fraudster gets 13 years

Mon, 05 Nov 2012 17:30:00 Z

City trader admits to defrauding investors of more than £32m

FSA fines two firms over failure to report

Wed, 24 Oct 2012 00:00:00 +0100

The Financial Services Authority (FSA) has fined two firms for failing to provide accurate and timely

Department of Justice investigating Autonomy/HP deal

Fri, 28 Dec 2012 09:21:00 Z

The US Department of Justice is investigating Hewlett-Packard’s purchase of the UK firm Autonomy

Sants to receive knighthood

Mon, 31 Dec 2012 12:02:00 Z

The former FSA chief executive is among business leaders honoured

French top tax rate deemed unconstitutional

Mon, 31 Dec 2012 09:19:00 Z

France's constitutional council has struck down a top income tax rate of 75%

In other news...

Fri, 12 Oct 2012 09:56:00 +0100

What else happened in the news this week?

VAT fraudster sentenced

Fri, 08 Feb 2013 18:03:00 Z

A man who stole over £372,000 through fraudulent VAT repayment claims has been jailed for three years

OECD urges avoidance overhaul

Tue, 12 Feb 2013 15:44:00 Z

The OECD has urged governments worldwide to clamp down on loopholes that allow multinationals to avoid tax

Public outrage at tax avoidance

Fri, 01 Mar 2013 10:40:00 Z

A third of Britons are boycotting products of companies that aren't paying their fair share of tax

BNP Paribas poaches five from Deloitte

Mon, 28 Jan 2013 17:25:00 Z

BNP Paribas has poached a retail team of five people from direct competitor Deloitte Real Estate

HMRC notifies employers on RTI

Mon, 11 Feb 2013 11:06:00 Z

HMRC is writing to all employers in prepartion for RTI, following criticism of system

Dishonest ICAEW member thrown out

Mon, 11 Feb 2013 13:14:00 Z

An ICAEW member has been excluded after admitting he issued cheques on his employer’s accounts for his own benefit

CIIA proposes stronger audit code

Mon, 11 Feb 2013 12:34:00 Z

The CIIA is set to propose guidelines aimed at strengthening the role and widening the scope of internal auditors

Auditor's independence rules strengthened

Mon, 11 Feb 2013 12:21:00 Z

The Financial Reporting Council is to ban the use of internal audit staff in audit engagement teams

City jobs fall 18%

Mon, 11 Feb 2013 09:08:00 Z

New job vacancies in the City fell by 18% last month compared with a year ago

Deloitte sells HMV HK business

Thu, 28 Feb 2013 18:04:00 Z

The private equity firm behind blockbusters The Dark Knight and The Hangover has bought part of HMV Asia

CBI says UK will avoid triple-dip

Wed, 13 Feb 2013 12:12:00 Z

The UK will avoid falling into a triple-dip recession, according to the CBI

Welby calls for regional banks

Tue, 23 Apr 2013 10:18:00 +0100

The Archbishop of Canterbury has proposed breaking up one of the UK’s major banks into regional lenders

PAC to call up major IT firms

Wed, 13 Feb 2013 10:30:00 Z

The PAC is set to examine the tax affairs of major IT companies that supply the public sector

BAE appoints Balfour Beatty chief

Tue, 26 Mar 2013 11:29:00 Z

The board of BAE Systems has approved the appointment of Ian Tyler as non-executive director

PwC wins Schroders audit back

Tue, 26 Mar 2013 12:16:00 Z

PwC has been reinstated at Schroders after KPMG reveals independence rules problem

Only third of accountants happy with pay

Wed, 24 Apr 2013 10:33:00 +0100

Only a third of accountants are happy with their current pay, according to new research

Budget boosts hiring intentions

Mon, 25 Mar 2013 12:12:00 Z

Up to 240,000 jobs could be created as a result of the national insurance credit changes announced in the Budget

Last piece in the FRS jigsaw published

Thu, 14 Mar 2013 12:05:00 Z

The FRC has completed its project to replace current UK GAAP, with the long-awaited publication of FRS 102

Land Securities loses £60m tax battle

Wed, 27 Mar 2013 12:24:00 Z

FTSE 100 company Land Securities has lost a court battle with HMRC over £60m in tax revenue

RSM and GT taken to task over Iran

Thu, 28 Mar 2013 17:48:00 Z

US-based United Against Nuclear Iran is targeting UK mid-tier firms that have representation in Iran

Golden opportunity for FASB

Wed, 24 Apr 2013 17:01:00 +0100

Former Deloitte partner Russell Golden is to be the next chairman of the US Financial Accounting Standards Board

Lubbock Fine appoints first female partner

Wed, 08 May 2013 10:10:00 +0100

London-based firm Lubbock Fine has appointed its first female senior partner, Clare Munro

Republican tax shift as fiscal cliff looms

Tue, 13 Nov 2012 13:03:00 Z

Post-election Republicans are thawing on the idea of higher tariffs for the wealthy

NAO launches report into DOTAS

Tue, 13 Nov 2012 14:59:00 Z

The NAO has launched a report into the effectiveness of HMRC's disclosure regime

One in ten shops empty

Mon, 19 Nov 2012 08:47:00 Z

The British Retail Consortium says more than one in 10 shops in the UK are currently standing empty

Davos 2013: Mixed response to PM speech

Fri, 25 Jan 2013 08:29:00 Z

There has been a mixed response from the business and accountancy sector to David Cameron’s speech at Davos

FSA fines Lloyds over late PPI payments

Tue, 19 Feb 2013 12:49:00 Z

The FSA has fined three Lloyds Banking Group firms over £4m for late PPI compensation payments

Fake accountancy fraudsters told to pay £976,000

Wed, 20 Feb 2013 13:08:00 Z

Criminals who pretended to be offering accounting services have been ordered to pay back stolen money

Former tax president jailed for fraud

Tue, 05 Mar 2013 17:46:00 Z

A former president of the Association of Taxation Technicians has been jailed for a £5m pension scheme tax fraud

Whitehall wastes £70m through poor financial modelling

Thu, 21 Feb 2013 13:50:00 Z

At least £70m is wasted across Whitehall every year because staff can't interpret different financial models

HMRC needs to make additional £66m savings

Thu, 07 Feb 2013 08:51:00 Z

NAO says HMRC has made good progress in cost-cutting, but still needs to find an additional £66m in savings

Ultimatum for payday lenders

Wed, 06 Mar 2013 14:02:00 Z

The OFT has told the UK’s largest payday lenders they have 12 weeks to implement major changes or face closure

Pension funds lose major VAT case

Thu, 07 Mar 2013 16:12:00 Z

The UK’s defined benefit pension funds have lost a case in the ECJ and £2bn in VAT repayments

Auditors' report to be extended

Mon, 04 Feb 2013 15:05:00 Z

The FRC is seeking a 'step change' in the structure of audit report

High pay no longer key to successful recruitment

Fri, 19 Apr 2013 16:22:00 +0100

Employers urgently need to rethink their employment policies if they are to continue to attract the best people

Unions want HP to replace EY

Mon, 21 Jan 2013 13:32:00 Z

An American investor group, representing some of the US’s largest unions, is targeting Hewlett Packard's auditor

Rake gets profession's top award

Wed, 06 Mar 2013 16:34:00 Z

BT chairman gets 2013 Outstanding Achievement Award in recognition of his contribution to the profession

CPS targets middle class tax evasion

Mon, 21 Jan 2013 10:32:00 Z

The middle-class workforce is going to be targeted in a new crackdown on tax evasion, the CPS has said

FRC excludes former Cattles directors

Wed, 20 Feb 2013 11:07:00 Z

Two former Cattles directors have been censured and banned by the FRC

Aon to defer bonus payments

Mon, 21 Jan 2013 10:46:00 Z

Aon is deferring bonus payments for some of its staff until after 6 April to avoid the 50% income tax rate

Wilkins Kennedy and Matthews Mist to merge

Wed, 22 May 2013 08:42:00 +0100

Mid-tier accountancy firm Wilkins Kennedy is to merge with Southampton-based Matthews Mist

economia app now live

Wed, 07 Nov 2012 09:15:00 Z

The new economia app is now available to download for free

Tax fraud prosecutions double

Mon, 22 Apr 2013 12:38:00 +0100

HMRC's more aggressive approach to prosecuting individuals for tax fraud has seen a 53% increase in prosecutions

Lab launches reporting project

Thu, 09 May 2013 12:02:00 +0100

The Financial Reporting Lab has launched a project to provide insight into effective approaches to reporting

Google's Schmidt calls for debate on tax

Mon, 20 May 2013 09:02:00 +0100

Google’s executive chairman Eric Schmidt has defended his company’s tax affairs

Call for evidence on EU impact

Fri, 17 May 2013 16:36:00 +0100

BIS wants to discover what business groups think about the balance of competences between the UK and EU

Accountancy firms shut down in public interest

Thu, 23 May 2013 14:21:00 +0100

Two Chesterfield accountancy firms have been shut down for poor business practices

Monahans purchases Holland & Co

Thu, 04 Apr 2013 12:53:00 +0100

Monahans Chartered Accountants has purchased Holland & Co

MPs "astounded" by Lin Homer appointment

Mon, 25 Mar 2013 08:50:00 Z

A committee of MPs has said it has “little confidence” in the ability of HMRC chief Lin Homer

ASAF membership announced

Tue, 19 Mar 2013 14:26:00 Z

The IFRS Foundation has revealed who will sit on the new Accounting Standards Advisory Forum

CBI calls for property tax breaks

Tue, 12 Mar 2013 11:50:00 Z

The CBI has called for tax breaks on property ahead of next week's Budget

Half of senior executives aware of irregularities

Tue, 07 May 2013 14:45:00 +0100

An alarming number of executives and their teams are aware of unethical behaviour in their company, E&Y finds

KPMG cancels contracts over insider leak

Wed, 10 Apr 2013 11:01:00 +0100

KPMG has been forced to resign as auditors of two major US companies over insider leaks

Theft from friend leads to exclusion

Wed, 03 Apr 2013 15:42:00 +0100

A member who stole at least £160,000 from a friend’s company over a nine-year period has been thrown out

Sage appoints Close Brothers FD

Wed, 15 May 2013 08:42:00 +0100

Sage has appointed Jonathan Howell, finance director of Close Brothers, as a non-executive director

BIS select committee calls for LEP funding extension

Fri, 26 Apr 2013 17:46:00 +0100

The government should extend the core funding of local enterprise partnerships (LEPs) to 2020

Leaked memos give details of "sweetheart deals"

Tue, 30 Apr 2013 09:36:00 +0100

The government settled for £4.5bn from a series of four “sweetheart” tax deals, according to reports

Charity calls for greater FTSE100 tax transparency

Mon, 29 Apr 2013 16:52:00 +0100

ActionAid has published an investor guide to measure how socially responsible FTSE 100 companies are

Member reprimanded about interpretation of audit

Wed, 01 May 2013 12:42:00 +0100

A difference of opinion with ICAEW over phrase's interpretation leads to severe reprimand

Half of HMRC complaints thrown out

Thu, 02 May 2013 10:31:00 +0100

Over half of complaints made by taxpayers about HMRC conduct are rejected

Fraudster told to pay back £800k

Wed, 01 May 2013 10:49:00 +0100

Former Vantis Tax David Perrin – known as “the singing accountant” – ordered to repay money made from £70m tax scam

Boardroom diversity plateaus

Wed, 01 May 2013 11:14:00 +0100

Sir Roger Carr, chairman of Centrica, has warned that UK boardroom diversity has plateaued

Disappointment over lack of clarity on GAAR

Wed, 20 Mar 2013 00:00:00 Z

Leading figures in accounting are disappointed over the failure to bring clarity to proposed legislation on GAAR

Hartnett made Goldman deal to save "embarrassment"

Thu, 02 May 2013 17:45:00 +0100

Dave Hartnett allegedly let Goldman Sachs off £20m in tax to save "embarrassment” to himself and George Osborne

FLS extended to boost SME sector

Wed, 24 Apr 2013 13:51:00 +0100

The Funding for Lending Scheme is to be extended to give added impetus to banks to increase their lending to SMEs

Chartered accountant cheated public revenue

Fri, 10 May 2013 15:46:00 +0100

Birmingham ACA Muhammad Butt has been jailed for three years in £1m VAT scam

Typing better paid than accountancy

Fri, 10 May 2013 10:46:00 +0100

Government values accountancy skills less highly, it seems, than typing and IT literacy

Banking system is “socially useless”

Fri, 10 May 2013 16:21:00 +0100

Alternative banking systems and diversification dominated the first part of today’s Transforming Finance conference

Finance Bill introduces GAAR

Thu, 28 Mar 2013 12:19:00 Z

The 2013 Finance Bill, published today, contains anti-tax avoidance provisions, including the UK’s first GAAR

FS leaders struggling to adapt

Tue, 14 May 2013 14:45:00 +0100

Leaders in financial services are being out-performed by peers in other industries

BIS calls for private sector lenders

Thu, 11 Apr 2013 13:45:00 +0100

The government has launched the first phase of the business bank

Osborne’s IOM tax figures questioned

Wed, 17 Apr 2013 16:06:00 +0100

George Osborne’s claim that £1bn in unpaid taxes could be recovered from the Crown Dependencies questioned

Carney calls for shake up

Fri, 08 Feb 2013 09:55:00 Z

Mark Carney, the incoming Governor of the Bank of England, has called for a monetary policy shake-up

Portal Tax claims manager becomes new Eastleigh MP

Fri, 01 Mar 2013 12:16:00 Z

The former business manager of Portal Tax Claims has been elected as the new Eastleigh MP

Share buy-backs raise £12.4bn in 2012

Tue, 05 Feb 2013 15:32:00 Z

In 2012, UK listed companies spent more than double on share buy-backs than they raised in IPOs

Npower defends zero corporation tax

Wed, 17 Apr 2013 12:40:00 +0100

Npower has admitted to paying zero corporation tax between 2009 and 2011, as it was keeping “the UK's lights on"

Campaigners call for fizzy drink tax

Tue, 29 Jan 2013 11:27:00 Z

The chancellor George Osborne is facing calls to introduce a new tax on sugary drinks

GAAR panel appointed

Mon, 28 Jan 2013 16:28:00 Z

Francesca Lagerberg and Richard Murphy are among the interim GAAR panel appointed by HMRC

Climate change for Fallon

Tue, 02 Apr 2013 09:26:00 +0100

Business minister Michael Fallon has been given an additional ministerial brief – in another department

BDO poaches KPMG restructuring partner

Mon, 13 May 2013 10:28:00 +0100

BDO has appointed David Fletcher as head of restructuring advisory in its business restructuring team

Micro accounting proposals needs rethink

Tue, 02 Apr 2013 11:27:00 +0100

Micro businesses may find it even harder to access finance under proposed accounting rules, ICAEW says

White confirmed as SEC chair

Tue, 09 Apr 2013 14:57:00 +0100

Mary Jo White has been confirmed as the new head of US financial regulator the SEC

Littlejohn to join PKF International

Thu, 25 Apr 2013 10:29:00 +0100

Chartered accountancy firm Littlejohn is joining the PKF International network

CC appoints Big Four ACAs

Thu, 11 Apr 2013 11:00:00 +0100

The Competition Commission is being taken over by the Big Four, it seems

Money tops graduate concerns

Wed, 03 Apr 2013 09:34:00 +0100

Money is the name of the game for graduates in 2013, as rising fees and the realities of student debt takes hold

France mulls “culture tax”

Tue, 14 May 2013 11:47:00 +0100

France is considering imposing a “culture tax” on smart phones and tablets, in a move set to anger Apple and Google

Austria attacks UK ‘tax havens’

Fri, 12 Apr 2013 12:11:00 +0100

Austria's finance minister accuses UK of being an “island of the blessed for tax evasion and money laundering"

MPs “disingenuous” on legal tax avoidance

Fri, 26 Apr 2013 12:35:00 +0100

MPs’ political posturing over legal tax avoidance is “misguided and disingenuous,” says deVere boss

Senate committee slams Apple over tax

Tue, 21 May 2013 12:52:00 +0100

Technology giant Apple has been accused of being "among America's largest tax avoiders" by a US Senate committee

Eurozone unemployment reaches record high

Tue, 30 Apr 2013 15:22:00 +0100

Unemployment in the eurozone has reached a new high, hitting 12.1% in March

RBS set for record Libor fine

Wed, 06 Feb 2013 11:28:00 Z

RBS is preparing itself for a fine of around £400m from US and UK regulators for its role in the Libor scandal

UK water companies avoiding tax

Fri, 15 Feb 2013 12:28:00 Z

British water companies are the latest group to be examined for their tax practices

SME apprenticeships drop in 2013

Fri, 15 Feb 2013 16:47:00 Z

Only 7% of small businesses plan in hiring apprentices in 2013, despite youth unemployment forecast to reach 1m

Corporate reporting needs to be “fit for purpose”

Thu, 14 Feb 2013 12:49:00 Z

KPMG calls for corporate reporting to be “fit for purpose” in a post-crisis environment

Tiner steps out of the limelight

Fri, 19 Apr 2013 11:37:00 +0100

Former FSA chief John Tiner has pulled out of a consortium bidding to buy RBS branches

PAC report slams Treasury

Fri, 15 Feb 2013 15:35:00 Z

The Treasury “neglects its role” as finance ministry, according to a critical report from the PAC

£6m in bonuses for RBS management

Mon, 18 Feb 2013 12:21:00 Z

RBS executives are to receive bonus payments worth up to £6m, two weeks after a record fine over Libor

M&S walks off with sustainability award

Thu, 23 May 2013 08:54:00 +0100

Marks & Spencer picked up a major prize at the Finance for the Future Awards ceremony in London last night

RSM Tenon to revisit Barclays loan

Fri, 22 Mar 2013 09:48:00 Z

BIS asks firm to widen its investigation into claims that Barclays misused the Small Firms Loan Guarantee Scheme

Mazars acquires immigration business

Fri, 08 Mar 2013 10:39:00 Z

Mazars has acquired UK immigration services business Sarah Buttler Associates Ltd

HMRC wins another tax avoidance case

Tue, 23 Apr 2013 16:05:00 +0100

Bristol & West faces a £30m tax bill after tribunal throws out its tax avoidance scheme

Lord Davies warns of impending quotas

Thu, 07 Mar 2013 15:45:00 Z

PwC debate says culture needs to change to encourage more female executives

Pay remains static among ICAEW members

Tue, 26 Mar 2013 10:16:00 Z

Average chartered accoutants' salary stays flat but gender pay gap narrows

IPO relaunches IP mediation service

Fri, 22 Mar 2013 10:24:00 Z

The government has revamped its mediation service for SMEs involved in intellectual property disputes

HMRC targets construction sector

Tue, 02 Apr 2013 11:53:00 +0100

HMRC’s tax yield from the construction sector has jumped 18% in the last year

PwC tries new recruitment approach

Tue, 02 Apr 2013 12:56:00 +0100

PwC is introducing a fast-track scheme for graduates looking to join its consultancy arm

Group A wants access to listed market

Thu, 04 Apr 2013 14:46:00 +0100

The Schroders’ auditor fiasco is a classic example of the “ossified” audit market, according to Mazars

Business confidence reaches three-year high

Tue, 07 May 2013 12:00:00 +0100

The UK economy is likely to grow by 0.6% this quarter, the latest ICAEW/Grant Thornton Monitor predicts

98 of FTSE 100 use tax havens

Mon, 13 May 2013 11:12:00 +0100

All but two of the FTSE 100 have companies based in tax havens

Accountants optimistic on pay rise

Thu, 25 Apr 2013 12:31:00 +0100

Two thirds of accountants expect to receive a pay rise or bonus this year as market optimism grows

HP CEO blames Autonomy accounts

Thu, 11 Apr 2013 12:17:00 +0100

The “magnitude of the accounting improprieties” in the Autonomy deal forced HP to blow the whistle

PAC slams Treasury over WGA

Thu, 11 Apr 2013 12:25:00 +0100

The UK Treasury comes under fire over its failure to use whole of government accounts properly

KPMG partner paid with Rolex and bags of cash

Fri, 12 Apr 2013 10:50:00 +0100

The US SEC has charged former KPMG LA head of audit and his golfing partner with insider dealing

Tax QC loses avoidance case

Fri, 12 Apr 2013 14:50:00 +0100

tax barrister who designed his own avoidance scheme has lost his case against HMRC

Will the EU go for 14-year rotation?

Fri, 12 Apr 2013 16:50:00 +0100

A last-minute compromise could see the EP's influential legal affairs committee opt for mandatory rotation

Companies fined for underpaying workers

Fri, 05 Apr 2013 00:00:00 +0100

Two telecom companies are facing a £100,000 bill in wage arrears after underpaying the NMW to "apprentices"

OBR slashes Scotland’s tax receipts

Thu, 18 Apr 2013 10:54:00 +0100

Income tax receipts for Scotland have been cut by £657m for a single financial year

Pay votes get legal backing

Fri, 26 Apr 2013 11:51:00 +0100

Shareholder votes on directors’ pay are legally binding now the Enterprise Bill has received Royal Assent

Retail sales fall in January

Fri, 15 Feb 2013 11:42:00 Z

UK retail sales fell unexpectedly in January, according to the Office for National Statistics

MPs criticise "second budget"

Tue, 29 Jan 2013 11:08:00 Z

MPs have criticised George Osborne for using the Autumn Statement as a second budget

Accountant jailed for income tax scam

Fri, 10 May 2013 17:01:00 +0100

Nottinghamshire chartered accountant, who stole £153,000 of taxpayers’ money in an income tax scam, has been jailed

Starbucks lobbies for foreign tax breaks

Wed, 24 Apr 2013 15:49:00 +0100

Starbucks has lobbied US tax lawmakers to protect and grow its tax breaks on foreign profits

Shareholders launch £4bn RBS suit

Wed, 03 Apr 2013 11:39:00 +0100

A group of RBS shareholders have launched a £4bn claim over its bid to raise funds before 2008 bail out

Relief at JURI vote on audit reform

Thu, 25 Apr 2013 17:02:00 +0100

JURI says mandatory auditor rotation every six years is “a costly and unwelcome intervention in the audit market”

Bank lending not stimulated by government

Mon, 29 Apr 2013 09:50:00 +0100

Bank lending is set to rise but the government’s lending scheme will make no “material difference”

Tory EU row a “distraction” from economy

Fri, 17 May 2013 16:58:00 +0100

Demands for an EU referendum are a “distraction”, according to CBI chief John Cridland

Tax avoidance debate hijacked by misconceptions

Thu, 18 Apr 2013 13:49:00 +0100

Leading tax experts have defended companies “named and shamed” by parliamentary committees over CT payments

FSA fines Co-op bank

Fri, 04 Jan 2013 14:33:00 Z

The Co-operative bank has been fined £113,300 for failing to handle payment protection insurance complaints fairly

SMEs rely on personal finance

Wed, 15 Feb 2012 00:00:00 Z

Two thirds of SMEs did not seek outside sources of finance last year, according to a new survey

Audit in need of greater professionalism in US

Fri, 19 Oct 2012 16:30:00 +0100

Academic tells PCAOB there has been a significant decline in audit scepticism

Travis Perkins appoints former Boots finance chief

Wed, 24 Oct 2012 00:00:00 +0100

Travis Perkins has appointed the former financial chief of Boots to the board

Amazon in $234m US tax case

Wed, 16 Jan 2013 13:35:00 Z

Amazon is contesting a $234m U.S. tax bill from the IRS

Estate administration stays as unreserved activity

Wed, 13 Feb 2013 17:47:00 Z

The LSB has announced that it will not go ahead with plans to make estate administration a reserved legal service

EU and US plan talks on biggest trade deal in history

Wed, 13 Feb 2013 16:35:00 Z

European Union and the US are to begin discussions on what could be the biggest trade deal in history

HMV to appoint Deloitte as administrators

Tue, 15 Jan 2013 10:12:00 Z

HMV will today appoint Deloitte as administrators, after the music and DVD outlet failed to secure financing

Deloitte closes 164 Blockbuster stores

Wed, 13 Feb 2013 12:41:00 Z

Deloitte has announced it will close an additional 164 Blockbuster stores

In other news…

Fri, 19 Oct 2012 07:00:00 +0100

What else happened in the news this week?

Van Rompuy says EU exit "not free"

Fri, 01 Mar 2013 10:18:00 Z

Herman Van Rompuy has warned David Cameron he will struggle to win support to renegotiate the UK’s membership

Hodkinson to step down from Resolution

Fri, 03 May 2013 08:58:00 +0100

Phil Hodkinson, senior independent director at Resolution and former FD at HBOS, is to retire this month

Firms admit “tokenism” over women at top

Thu, 28 Feb 2013 16:59:00 Z

Leading figures in major law and accountancy firms admit to "some tokenism” over issue of women in senior roles

UK receives £340m in Swiss tax

Tue, 29 Jan 2013 17:01:00 Z

The UK has received £340m from the Swiss government in repatriated taxes, George Osborne said today

Barrister dodged £600,000 in VAT

Mon, 11 Feb 2013 00:00:00 Z

A London barrister who failed to pay £600,000 in VAT used the money to buy luxury homes and pay school fees

£250m VAT fraud fugitive jailed

Wed, 06 Mar 2013 12:00:00 Z

Gang member responsible for UK’s largest ever VAT scam was caught and jailed for six years, after fleeing to Dubai

Businesses expect growth this year

Fri, 15 Mar 2013 09:59:00 Z

The ICAEW has raised its economic forecast for 2013, with an expected GDP growth of 1.0%

Tax hits poorest hardest

Mon, 18 Mar 2013 11:25:00 Z

The poorest households are the biggest losers from government’s tax policies, according to the TUC

Employment tribunal rules to change

Fri, 15 Mar 2013 13:40:00 Z

The government is to streamline the employment tribunal process and weed out weak cases to save businesses money

Markets fall on Cyprus bailout

Mon, 18 Mar 2013 10:01:00 Z

European markets have fallen as the Cyprus parliament holds an emergency bailout session

New UK GAAP proves popular

Wed, 15 May 2013 13:28:00 +0100

“Significant” numbers of companies are deciding to adopt FRS 102 early, rather than wait until 2015

Barrister jailed for VAT fraud

Fri, 15 Mar 2013 15:56:00 Z

A second London barrister has been jailed for VAT fraud in the last month

Paul Walsh to stand down from Diageo

Tue, 07 May 2013 08:53:00 +0100

The chief executive of Diageo Paul Walsh is to step down after thirteen years at the helm

ICAEW seeks stimulating Budget

Fri, 15 Mar 2013 12:32:00 Z

This Budget is the chancellor’s last chance to make changes to stimulate business before the election, ICAEW says

Ex KPMG man to head BIS CF service

Tue, 09 Apr 2013 00:00:00 +0100

BIS has confirmed former KPMG partner Mark Russell in his role as chief executive of the Shareholder Executive

More doubts raised over FTT

Wed, 24 Apr 2013 10:45:00 +0100

A leaked document has raised more doubts over the proposed European financial transaction tax

FRC says KPMG investigation “not on agenda”

Tue, 09 Apr 2013 11:43:00 +0100

Contrary to reports, the FRC has said an investigation in to KPMG’s audit of HBOS is “not on the agenda”

Lib Dem MEPS support 14-year rotation

Wed, 24 Apr 2013 17:37:00 +0100

ALDE supports 14-year mandatory rotation of auditors ahead of the JURI vote tomorrow

Services sector drives business confidence

Mon, 13 May 2013 08:56:00 +0100

Business confidence is up this month, driven by increasing optimism in the services sector

Cable promises business bank investment

Fri, 15 Mar 2013 12:07:00 Z

Vince Cable has promised the business bank will begin action in 2013, as the BCC calls for extra investment

Podcast: The Budget discussed

Wed, 20 Mar 2013 17:38:00 Z

ICAEW CEO Michael Izza, Danielle Stewart of Baker Tilly, and entrepreneur Clive Bawden join the podcast team

BDO and GT audits found wanting

Thu, 21 Mar 2013 12:16:00 Z

The latest FRC audit quality reviews reveal “significant concerns”

Former HBOS CEO resigns

Fri, 05 Apr 2013 12:24:00 +0100

Sir James Crosby resigns from private equity firm Bridgepoint after scathing criticism over role as HBOS CEO

Turning a blind eye costs member dearly

Thu, 04 Apr 2013 10:40:00 +0100

An ICAEW member who closed her eyes to her husband’s fraudulent behaviour despite her suspicions has been excluded

European business rejects audit rotation

Thu, 18 Apr 2013 11:26:00 +0100

Seven EU business organisations have called on the European Parliament to drop mandatory audit rotation

Services help UK avoid triple-dip

Thu, 25 Apr 2013 10:10:00 +0100

The UK has avoided a triple-dip recession, unexpectedly growing 0.3% in the first quarter of the year

Injury-time winner for Portsmouth

Thu, 11 Apr 2013 10:39:00 +0100

BDO reached an 11th hour deal with the former owners of Portsmouth Football Club yesterday

HP chair resigns amid board upheaval

Fri, 05 Apr 2013 12:23:00 +0100

HP chairman Ray lane has stepped down as the fall out from the Autonomy debacle rumbles on

AICPA to sell specialisms outside the UK

Tue, 21 May 2013 09:00:00 +0100

US institute to offer specialised credentials through non-US accountancy bodies

Government supports FRC on tendering

Thu, 21 Mar 2013 17:42:00 Z

The government has fired a warning shot across the bows of the Competition Commission over mandatory rotation

Obama sacks US tax chief

Thu, 16 May 2013 16:43:00 +0100

Obama sacks head of IRS over Tea Party scandal

Budget 2013: positive for SMEs

Wed, 20 Mar 2013 14:28:00 Z

Budget 2013: live economia Twitter Q&A with our panel of experts

Lawyers "should abandon tax privilege"

Tue, 23 Apr 2013 17:16:00 +0100

Both lawyers and accountants should abandon legal privilege over tax matters, according to Deloitte's head of tax

HMRC is "woefully inadequate"

Mon, 18 Mar 2013 09:01:00 Z

HMRC has faced a barrage of criticism over its phone service from the Public Accounts Committee

KPMG's LA head of audit sacked

Tue, 09 Apr 2013 00:00:00 +0100

The head of audit at KPMG’s Los Angeles office is accused of insider dealing

Deloitte confirms HMV rescue deal

Fri, 05 Apr 2013 16:53:00 +0100

Deloitte has confirmed the sale of HMV UK to restructuring specialists Hilco, securing more than 2,500 jobs

Warning over severe damage of US/China audit dispute

Tue, 07 May 2013 10:17:00 +0100

US Chamber of Commerce issues warning over auditing row between US and China

FCA launches RBS glitch enquiry

Tue, 09 Apr 2013 17:26:00 +0100

The FCA has launched an investigation in to RBS over the computer glitch that caused chaos last summer

Corporation tax returns up 40%

Mon, 15 Apr 2013 10:19:00 +0100

British businesses received an extra £2bn in corporation tax returns from HMRC this tax year, a jump of 40% to £7bn

Davos 2013: Cameron calls for global tax crackdown

Thu, 24 Jan 2013 11:31:00 Z

David Cameron has called for global action on tax avoidance in his address at the World Economic Forum in Davos

ICAEW backs FRC on audit tendering

Tue, 26 Mar 2013 18:32:00 Z

The CC’s interim findings will do little to underpin confidence in the corporate governance code, ICAEW says

FSA fines Prudential over AIA

Wed, 27 Mar 2013 10:25:00 Z

The Prudential has been fined £30m and its chief executive censured over its attempted purchase of AIA

UK ahead in IFRS compliance stakes

Thu, 17 Jan 2013 15:13:00 Z

The UK and Ireland are in a class of their own when it comes to complying with IFRS impairment disclosures

PwC failed as “competent auditor”, says Cattles

Tue, 05 Mar 2013 12:40:00 Z

PwC failed to carry out the basic investigations expected from a “reasonably competent auditor” for Cattles

Whiting on HMRC non-exec board

Fri, 18 Jan 2013 11:27:00 Z

HMRC has added three new non-executive board members, including ICAEW member John Whiting

City of London may publish full accounts

Fri, 15 Feb 2013 16:55:00 Z

The City of London was challenged to be open and transparent and issue a set of accounts covering its private funds

BIS intervenes over women directors

Wed, 30 Jan 2013 12:38:00 Z

Cable asks seven FTSE 100 companies with no women on their boards what remedial action they are taking

Surge in UK corporate confidence

Mon, 22 Apr 2013 11:49:00 +0100

Corporate confidence has increased threefold in the last six months but it has yet to translate in to M&A activity

FFD reports 15% disclosure increase

Wed, 30 Jan 2013 15:46:00 Z

The annual FFD Report has revealed that 100 companies have voluntarily disclosed their forest footprint, up 15%

Podcast: do entrepreneurs need accountants?

Wed, 06 Mar 2013 16:06:00 Z

Guests on the podcast discuss the role of accountants, the Competition Commission and women in the professions

Hodge slams local audit Bill

Thu, 17 Jan 2013 16:54:00 Z

The integrity of the audit system may be compromised if the Bill is enacted as currently drafted, committee says

Jim Buckle takes Wiggle CFO role

Tue, 19 Feb 2013 09:44:00 Z

The managing director of LoveFilm is to step down to take up the role of CFO at bike retailer Wiggle

Cameron begins India trade trip

Mon, 18 Feb 2013 09:01:00 Z

David Cameron has begun a three-day visit to India to promote UK business

PM hails EU tax "turning point"

Thu, 23 May 2013 10:59:00 +0100

David Cameron has hailed the EU agreement on greater tax transparency as a “big step forward”

Court questions Lagarde in fraud case

Thu, 23 May 2013 12:17:00 +0100

Christine Lagarde is to be questioned in court today over allegations she made illegal payments to a businessman

HMRC staff plan strike on Budget Day

Thu, 07 Mar 2013 16:40:00 Z

The PCS has called a strike for Budget day, which could affect 70% of HMRC staff

Milburn takes on health role at PwC

Thu, 23 May 2013 11:40:00 +0100

Former health secretary Alan Milburn is to chair PwC's newly-established Health Industry Oversight Board

Waste-dumping director banned

Tue, 23 Apr 2013 17:46:00 +0100

A Dorset director has been disqualified seven years for dumping toxic waste and failing to pay almost £1m in tax

Former Enron chief could have sentence reduced

Thu, 09 May 2013 08:46:00 +0100

Jeffrey Skilling, former CEO of Enron, could be released from prison nearly a decade earlier than expected

UK Uncut loses HMRC court challenge

Thu, 16 May 2013 10:14:00 +0100

Campaign group UK Uncut Legal Action has lost its High Court action against HMRC

JP Morgan falls foul of FCA

Thu, 23 May 2013 13:02:00 +0100

JP Morgan has been fined more than £3m for failings relating to provision of investment advice

KPMG and Fannie Mae settle $153m case

Thu, 09 May 2013 10:34:00 +0100

US mortgage company Fannie Mae and KPMG have agreed a $153m settlement over an Ohio pension fund lawsuit

ICAEW launches social mobility drive

Fri, 17 May 2013 10:33:00 +0100

A new social mobility initiative has been launched by ICAEW, City of London Corporation and accountancy firms

Barclays' tax avoidance unit made £9.5bn

Thu, 04 Apr 2013 00:00:00 +0100

Barclays' controversial tax avoidance unit generated £9.5bn in revenue between 2000 and 2011

Tax rate in UK "one of the lightest in the world"

Mon, 13 May 2013 11:46:00 +0100

The UK government should increase the competitive tax advantage it has built for businesses, says UHY Hacker Young

UK to avoid triple-dip, says BCC

Tue, 02 Apr 2013 14:58:00 +0100

A resilient services sector will prevent a triple-dip recession for the UK economy

Pension changes criticised

Tue, 07 May 2013 13:11:00 +0100

A pension loophole allowing those overseas to claim a pension based on their spouse’s NI contributions is be closed

International tax charter published

Mon, 13 May 2013 13:04:00 +0100

A charter to create a fairer system for taxpayers has been drawn up by professional bodies

UK agrees tax information exchange

Wed, 10 Apr 2013 08:20:00 +0100

The UK government has set up a pilot scheme with four other EU countries designed to catch tax evaders

ICAEW warns over GAAR's lack of clarity

Wed, 03 Apr 2013 12:55:00 +0100

The proposed GAAR, as currently drafted, is a recipe for disaster

France falls back into recession

Wed, 15 May 2013 09:37:00 +0100

France has fallen back into its second recession in four years

HMRC officer "abused position" in tax credit fraud

Mon, 29 Apr 2013 13:13:00 +0100

An HMRC officer has been jailed after she "abused her position" in a £72,000 tax credit fraud

Universal Credit trial run begins

Mon, 29 Apr 2013 12:37:00 +0100

The first claims for universal credit payments have begun today in a trial run of the new benefits system

PAC to recall Amazon

Fri, 17 May 2013 12:10:00 +0100

Amazon has been recalled to stand before the Public Accounts Committee according to reports

IFRS Foundation widens coverage

Fri, 22 Mar 2013 11:27:00 Z

Abdulrahman Al-Humaid is the first Middle Eastern accountant appointed as a trustee of the IFRS Foundation

Gauke: we are determined to tackle aggressive avoidance

Fri, 22 Mar 2013 09:09:00 Z

David Gauke, Treasury secretary to the Exchequer, said this week's Budget would "make the UK more competitive"

Billions to be brought on balance sheet

Fri, 17 May 2013 12:34:00 +0100

Commentators say proposed dual approach to leases accounting may be a compromise too far

HMRC sees RTI as “panacea”

Thu, 07 Mar 2013 14:59:00 Z

MP Margaret Hodge has accused HMRC as viewing RTI as a “panacea” to solve a multitude of problems

HMRC sets child benefit deadline

Thu, 07 Mar 2013 12:34:00 Z

There is still time to opt out of receiving child benefit and avoid having to fill in a 2013/14 tax return

HMRC probes £2bn government property schemes

Thu, 07 Mar 2013 12:08:00 Z

HMRC is investigating $2bn of government property developments used to regenerate deprived areas

Australia pushes tax transparency

Wed, 03 Apr 2013 14:53:00 +0100

Australia could force multinationals to make public tax records in a bid to curb possible tax avoidance

Firms bow out of Iran

Mon, 29 Apr 2013 13:10:00 +0100

GT, RSM and Crowe Horwath cut ties with Iran after coming under pressure from United Against Nuclear Iran

Indirect tax rises are "counterproductive"

Thu, 15 Nov 2012 16:17:00 Z

Raising indirect taxes like VAT and fuel duties is counterproductive, says economist Douglas McWilliams

Libor manipulation to be criminalised

Fri, 28 Sep 2012 10:00:00 +0100

FCA's Martin Wheatley wants comprehensive reform to rehabilitate LIBOR

SMEs welcome Queen’s Speech

Wed, 08 May 2013 15:45:00 +0100

The Queen’s speech featured measures to further cut red tape for SMEs and reduce business employment costs

Businesses are missing oppotunities in VAT/GST

Wed, 08 May 2013 17:33:00 +0100

Businesses are missing “significant opportunities” through a lack of focus and preparation on indirect taxes

HMRC targets football coaches

Wed, 15 May 2013 17:26:00 +0100

Football coaches are the latest profession to be targeted by HMRC over tax avoidance

Deloitte wins InterQuest audit tender

Thu, 07 Feb 2013 12:45:00 Z

Grant Thornton steps down as auditor after IT recruitment company chairman marries a GT partner

Deloitte sued by US funds

Thu, 21 Feb 2013 10:14:00 Z

Deloitte are being sued by a group of US investment funds over losses relating to a Chinese education company

Gill steps down as Manchester Utd chief

Thu, 21 Feb 2013 11:29:00 Z

Manchester United chief executive David Gill will step down in June, having been at the club since 2007

Businessmen jailed for £500,000 tax fraud

Thu, 21 Feb 2013 09:44:00 Z

Two businessmen who lied about cash hidden in offshore bank accounts have been jailed for tax evasion and fraud

LEPs “only show in town”

Thu, 28 Feb 2013 12:42:00 Z

Local Enterprise Partnerships (LEPs) are the “only show in town” for developing local growth

Ralph Lauren fined $1.6m over bribes

Mon, 22 Apr 2013 16:34:00 +0100

The fashion company has narrowly escaped prosecution after paying bribes to Argentinian officials

Accountant jailed for sex crimes

Thu, 21 Feb 2013 11:19:00 Z

An accountant who had a second "unlawful enterprise" running brothels in Liverpool and Manchester has been jailed

Retail sales up in January

Tue, 05 Feb 2013 09:31:00 Z

Sales increased in the UK in January according to the British Retail Consortium

UK forms tax agreement with Isle of Man

Wed, 20 Feb 2013 09:49:00 Z

The UK government has agreed a plan with the Isle of Man government to clamp down on tax evasion

Three jailed for 'killer' Birmingham booze

Fri, 25 Jan 2013 13:13:00 Z

Three men were jailed today for producing potentially deadly fake vodka, following an investigation by HMRC

Tax 'not a moral issue' Lords are told

Wed, 22 May 2013 00:00:00 +0100

Experts hit back in tax debate in front of the Lords

HMRC names and shames online

Thu, 21 Feb 2013 16:33:00 Z

HMRC is to publicly name and shame tax defaulters on its website for the first time today

Paedophile excluded from ICAEW membership

Thu, 14 Mar 2013 14:20:00 Z

An ICAEW member has been thrown out of the institute after pleading guilty to sexual offences with underage girls

Pension age forecast to rise to 84

Tue, 15 May 2012 00:00:00 +0100

PwC research shows the state pension age is set to increase to 84

Avoiders “running rings” around HMRC

Tue, 19 Feb 2013 11:39:00 Z

Those who devise tax avoidance schemes should be "named and shamed", according to the PAC

Growing confidence among CFOs

Tue, 16 Apr 2013 09:30:00 +0100

Business confidence among Britain’s CFOs has risen for the third consecutive quarter

PwC found wanting on quality control

Fri, 08 Mar 2013 14:48:00 Z

US watchdog takes PwC to task over its failure to sufficiently address criticisms in two audit inspections

HMRC to spot the bill

Fri, 08 Mar 2013 16:32:00 Z

Sportech, gaming group and owner of the Footballs Pools, has said it expects to recoup more than £80m from HMRC

Accountancy start-ups rebounding

Mon, 08 Apr 2013 16:16:00 +0100

The number of accountancy start-ups outweighed the number of closures last year for the first time since 2008

Barclays to retender PwC audit contract

Mon, 11 Mar 2013 09:46:00 Z

Barclays, Britain's second-largest bank, is considering retendering its audit contract with PwC

CC's findings "flawed by false certainty"

Mon, 08 Apr 2013 16:03:00 +0100

The CC's preliminary findings are fundamentally flawed because it doesn't understand the audit market

FRC warns over mandating audit change

Wed, 20 Mar 2013 09:38:00 Z

Mandatory rotation of auditors could have an adverse effect on audit quality, says FRC

Snow disrupts third of practices

Tue, 05 Mar 2013 17:26:00 Z

Snow disrupted over a third of accountancy practices days before the self assessment tax deadline

Bellpenny acquires Price Bailey IFA arm in £150m deal

Mon, 13 May 2013 15:34:00 +0100

Bellpenny has completed the acquisition of Price Bailey's IFA arm, the second in a week

Government announces measures to release personal data

Mon, 19 Nov 2012 10:35:00 Z

The government isto announce new measures forcing businesses to release personal electronic data held on consumers

Free guide to SME finance

Fri, 16 Nov 2012 11:00:00 Z

Access to bank funding has been one of the biggest nightmares for small business since the financial crisis

Cable urges Osborne action on "tax abuse"

Fri, 16 Nov 2012 09:51:00 Z

Cable says Osborne should use his Autumn Statement to tackle the “systematic abuse” by multinational companies

John Lewis MD urges government action on "Amazon problem"

Thu, 15 Nov 2012 14:46:00 Z

Andy Street has called on government to address the problem of multinational companies that pay little UK tax

Farepak audit goes to FRC tribunal

Fri, 16 Nov 2012 08:30:00 Z

Ernst & Young is to face an FRC disciplinary tribunal over its audit of failed Christmas club company Farepak

Stephen Hagues launches Retiring Accountant

Fri, 16 Nov 2012 14:46:00 Z

Entrepreneur Stephen Hagues is launching Retiring Accountant, a business broking service for the accountancy sector

Sun Life risked policyholders' interests

Fri, 19 Oct 2012 10:00:00 +0100

Sun Life Assurance Company of Canada (UK) has been fined £600,000 for governance failings

RSM Tenon promotes wave of partners

Thu, 11 Oct 2012 14:49:00 +0100

RSM Tenon has appointed 11 new partners across the practice

Hodge slams “feeble” DCMS finances

Wed, 27 Feb 2013 12:19:00 Z

The Department for Culture, Media and Sport has a “feeble grip” on its finances according to Margaret Hodge

Bailey finds it "odd" no senior figures have been jailed post-crash

Tue, 16 Apr 2013 16:45:00 +0100

Andrew Bailey admitted he finds it "odd" no senior financial figures have been jailed post-crash

Third of accountants "drink too much"

Tue, 19 Feb 2013 12:22:00 Z

Almost a third of accountants feel they drink too much, according to research from CABA

Podcast: Chuka Umunna, board diversity and the Big Four

Thu, 07 Feb 2013 16:28:00 Z

In economia's first podcast, the shadow business secretary tells economia why he is apologising for the term "SME"

Former Grant Thornton partner charged with embezzling

Fri, 08 Feb 2013 13:57:00 Z

A former partner in Grant Thornton’s New York office has been charged with embezzling $4m from client payments

HMRC closes £156m tax scheme

Wed, 27 Feb 2013 10:01:00 Z

HMRC has won a case to protect £156m and close a scheme set up for wealthy individuals to reduce their income tax

Osborne threatens to break up banks

Mon, 04 Feb 2013 15:49:00 Z

George Osborne has warned big banks could be broken up if they break proposed reforms

Over half of UK FDs have no succession plan

Tue, 05 Feb 2013 09:54:00 Z

Over half of UK finance directors have no succession plan in place for their role

Ernst & Young agrees $123m settlement

Mon, 04 Mar 2013 09:10:00 Z

Ernst & Young has agreed to pay $123m to resolve a US federal investigation

HMRC to move calls to cheaper numbers

Tue, 29 Jan 2013 08:49:00 Z

HMRC is going to switch all its helplines from expensive 0845 numbers to cheaper alternatives

Barclays FD Lucas to step down

Mon, 04 Feb 2013 15:26:00 Z

Barclays group finance director Chris Lucas and general counsel Mark Harding are both to step down

2012 GDP growth revised upwards

Wed, 27 Feb 2013 11:48:00 Z

The UK economy grew by more than previously thought last year, according to revised official figures

BIS announces red tape reforms

Wed, 27 Feb 2013 12:15:00 Z

BIS is to consult on implementation of the simpler accounting regime for micro entities

Economy shrinks in last quarter

Fri, 25 Jan 2013 10:16:00 Z

The economy shrank more than expected in Q3 2012, adding to fears Britain could enter a triple-dip recession

Government denies singling out Starbucks

Mon, 28 Jan 2013 08:58:00 Z

The government has rejected claims that it has bullied Starbucks over its tax affairs

Current business model beyond its sell-by date

Tue, 23 Apr 2013 19:00:00 +0100

It is time to rethink the purpose of companies, according to ICAEW

ICAEW council elections declared invalid

Fri, 10 May 2013 12:28:00 +0100

ICAEW has been forced to apologise to candidates after discovering “inadvertent errors in the nomination process”

Mixed month for High Street

Mon, 20 May 2013 12:19:00 +0100

The warmer weather has resulted in the UK High Street recording its strongest month since December 2011

Actress goes to jail for film scam

Mon, 25 Mar 2013 17:04:00 Z

Actress Aoife Madden gets nearly five years’ imprisonment for her role in a £2.8m film tax scam

ICAEW Budget response

Wed, 20 Mar 2013 15:48:00 Z

ICAEW responds to individual measures announced in today’s Budget

FRC launches KPMG investigations

Thu, 09 May 2013 11:56:00 +0100

The Financial Reporting Council has launched two investigations into KPMG Audit

Insolvencies down 15% in Q1

Fri, 03 May 2013 14:30:00 +0100

Insolvencies are down in the first quarter of 2013, with a drop of more than 15% on this time last year

HMRC launches new swathe of taskforces

Mon, 13 May 2013 17:29:00 +0100

HMRC has launched taskforces to tackle tax dodgers in London, Northern Ireland and East Anglia

HMRC staff stage strike

Mon, 08 Apr 2013 09:54:00 +0100

Thousands of HMRC staff set to go on strike today as part of ongoing industrial action over job cuts and pensions

"Sea change" on tax avoidance

Wed, 15 May 2013 14:39:00 +0100

There has been a definite “sea change” from a culture of aggressive tax avoidance

PAC questions "unhealthily cosy" relationship

Fri, 26 Apr 2013 09:48:00 +0100

The Big Four’s relationship with government is "unhealthily cosy" and detrimental to the public good

ICAEW chief executive warns of "race to the bottom" over tax

Fri, 24 May 2013 00:00:00 +0100

ICAEW chief executive warns of a "race to the bottom" as countries try to attract to multinationals

Diamond claims Libor ignorance

Fri, 03 May 2013 10:46:00 +0100

Former Barclays boss Bob Diamond has claimed he had no idea how Libor was set up prior to the scandal

Business welcomes Budget

Wed, 20 Mar 2013 16:51:00 Z

The profession has cautiously welcomed today’s Budget

New WTO head announced

Thu, 09 May 2013 17:00:00 +0100

Brazilian trade diplomat Roberto Azevêdo is the new director general of the World Trade Organisation

Tory MP calls for 10% corporation tax

Fri, 24 May 2013 10:02:00 +0100

Corporation tax should be slashed to 10% in a radical reform of the tax system, says a senior Conservative MP

Cable backs EU tax transparency push

Mon, 11 Mar 2013 12:18:00 Z

Vince Cable has backed proposals to force businesses to detail tax contributions in each country

Fifth of accountants increased debt

Wed, 10 Apr 2013 12:38:00 +0100

Almost 20% of accountants have increased their personal debt in the last year

Young proposes growth vouchers for SMEs

Mon, 13 May 2013 15:29:00 +0100

Business organisations have welcomed the micro recommendations in Lord Young’s second report

Country-by-country reporting becomes a reality

Wed, 10 Apr 2013 09:25:00 +0100

European Parliament backs disclosure requirements in Accounting Directive

Surrey residents pay the most tax

Mon, 20 May 2013 13:14:00 +0100

Residents in Surrey pay the most income tax in the UK, paying an average £16,100 in tax per year

RSA shareholders question Deloitte fees

Thu, 04 Apr 2013 19:00:00 +0100

Shareholders at insurance firm RSA have raised concerns over fees paid to Deloitte for non-audit work

Hodge: "I won't be put off by slurs"

Fri, 26 Apr 2013 06:30:00 +0100

Margaret Hodge tells economia she has no intention of being “put off by slurs”

PAC claims based on misunderstanding

Fri, 26 Apr 2013 10:27:00 +0100

The Big Four have reacted angrily to PAC accusations that they abuse their relationship with government

£1bn lost to EU VAT fraud, Lords say

Thu, 18 Apr 2013 12:39:00 +0100

The amount lost to fraud in the EU budget could be 12 times higher than estimated, a Lords report has warned

ICAEW warns of UC chaos for businesses

Fri, 26 Oct 2012 16:30:00 +0100

Universal credit will cause major headaches, ICAEW Tax Faculty has warned

British business back from the brink

Tue, 30 Oct 2012 12:00:00 Z

The larger a business is, the more likely it is to survive the threat of bankruptcy, according to Experian

McLaren to write off £49m fine

Fri, 12 Oct 2012 10:30:00 +0100

Formula One team wins the right to treat spying fine as a tax deduction

PAC to recall Google and E&Y

Wed, 01 May 2013 17:25:00 +0100

Google and Ernst & Young could be recalled before the PAC after an investigation into Google's practices

FRC argues against striking out Farepak charges

Fri, 01 Feb 2013 16:03:00 Z

The disqualification case against EHR and Farepak directors failed because it was badly prepared, the FRC alleges

Evasion prosecutions to rise “five-fold” in four years

Tue, 22 Jan 2013 13:36:00 Z

Keir Starmer has said prosecutions for tax evasion is going to go up “five fold” over the next four years

A fifth of companies have no auditor evaluation

Wed, 30 Jan 2013 12:01:00 Z

One in five companies do not carry out an annual evaluation of their auditor, according to a new KPMG survey

SEC reinstates former Arthur Andersen partner

Wed, 20 Feb 2013 10:13:00 Z

A former partner at Arthur Andersen has been reinstated by the SEC following Enron ban

Insider fraud up in 2012

Tue, 22 Jan 2013 11:33:00 Z

Insider fraud by management and employees accounted for 80% of all fraud-related company losses last year

Burberry FD to step down

Fri, 08 Feb 2013 10:56:00 Z

Stacey Cartwright, finance director at Burberry is to leave the fashion label to “pursue new interests”

Baker Tilly International posts 3% revenue boost

Thu, 31 Jan 2013 11:13:00 Z

Asia Pacific has helped boost Baker Tilly global revenues by 3%

Big Four rejects Commission claims

Fri, 22 Feb 2013 10:12:00 Z

The Big Four has rejected the findings of the Competition Commission today, as mid-tiers firms move to endorse them

PwC and Deloitte hold top spots

Fri, 01 Feb 2013 15:18:00 Z

Global income has dipped for accounting firms for the first time since 2009, while PwC holds on to top spot

Eurozone economy to shrink in 2013

Fri, 22 Feb 2013 11:46:00 Z

The EU has predicted the eurozone economy will remain in recession longer than expected, and will contract in 2013

RSM Tenon London managing partner leaves

Fri, 22 Feb 2013 12:31:00 Z

Peter Musgrave, RSM Tenon’s head of audit and tax and London managing partner, has left the firm

Supreme Court rejects Prudential appeal

Wed, 23 Jan 2013 10:41:00 Z

ICAEW has lost its bid to extend legal advice privilege to tax advice given by members to clients

Experts forecast stagnant 2013

Tue, 22 Jan 2013 16:07:00 Z

The majority (80%) of the restructuring industry has predicted no economic recovery in 2013

IMA says "no" to mandatory rotation

Mon, 25 Feb 2013 11:58:00 Z

Investment managers have criticised the Competition Commission’s proposal for mandatory rotation of the audit

Government to devolve power to LEPs

Mon, 18 Mar 2013 12:17:00 Z

The government is adopting 81 of Lord Heseltine’s 89 recommendations for boosting economic growth

SMEs need break from "constant tweaking"

Mon, 15 Apr 2013 16:54:00 +0100

Government doesn't understand how business works and the impact tax laws have on it, ICAEW says

Concessions on “bedroom tax”

Tue, 12 Mar 2013 17:02:00 Z

Iain Duncan Smith has announced several exemptions to the much criticised “bedroom tax”

UK nom-doms population drops

Mon, 11 Mar 2013 16:05:00 Z

The number of non-domiciled residents in the UK dropped by 2,000 in the last year

KPMG chairman plays down insider dealing case

Wed, 24 Apr 2013 10:26:00 +0100

KPMG international chairman dismisses the Scott London insider trading scandal as a “one-day wonder”

FCA investigates two over insider dealing

Fri, 03 May 2013 11:24:00 +0100

The FCA and City of London police have arrested two people over an investigation into insider dealing

FRC to investigate Autonomy's accounts

Mon, 11 Feb 2013 11:57:00 Z

The Financial Reporting Council has launched an investigation into the financial reporting of Autonomy

Microsoft appoints Amy Hood as CFO

Fri, 10 May 2013 10:32:00 +0100

Microsoft has appointed Amy Hood as chief financial officer, the first female CFO at the software giant

Women board appointments slowing

Wed, 10 Apr 2013 17:20:00 +0100

Cable sounds quota warning as separate reports show women board appointments have slowed

BIS eases buy-back rules

Tue, 30 Apr 2013 11:13:00 +0100

New rules will make it easier for companies to buy back shares when employees leave

EC pushes out transparency law

Fri, 24 May 2013 10:56:00 +0100

Tax affairs of multinationals will be more open to scrutiny after new EU country-by country reporting law agreed

E&Y appoints former PwC partner

Mon, 25 Feb 2013 15:40:00 Z

Ernst & Young has appointed former PwC partner Gary Turner to its operational transaction services practice

IMF warns against further UK austerity

Thu, 24 Jan 2013 10:03:00 Z

The IMF chief economist has said the chancellor should tone down austerity measures in the Budget in March

SFO opens Autonomy investigation

Tue, 12 Mar 2013 09:46:00 Z

The SFO has opened an investigation into the sale of technology firm Autonomy to Hewlett Packard

Econ committee votes against mandatory rotation

Tue, 12 Mar 2013 16:58:00 Z

An EP committee has rejected proposals for mandatory rotation, a cap on non-audit services and audit-only firms

Autonomy SFO probe in doubt

Tue, 12 Mar 2013 14:17:00 Z

The SFO's Autonomy probe has been cast into doubt due to a possible conflict of interests

PM warns territories on tax

Mon, 20 May 2013 08:43:00 +0100

The prime minister has written to British overseas territories urging them to “get their houses in order" over tax

M&S and Apple face tax scrutiny

Mon, 20 May 2013 10:33:00 +0100

Mark & Spencer and Apple are the latest companies set to face questions over their domestic tax practices

Osborne delivers 2013 Budget

Wed, 20 Mar 2013 13:45:00 Z

Today's Budget has outlined one of “the largest ever packages of tax avoidance and evasion measures"

Co-op downgraded as CEO steps down

Fri, 10 May 2013 09:49:00 +0100

The chief executive of the Co-operative Banking Group, Barry Tootell, is to step down

Big banks see profits wiped out in 2012

Mon, 25 Mar 2013 09:59:00 Z

The major UK banks saw a 45% rise in core profits last year wiped out by a mix of regulation and their own mistakes

Derry to chair CFF

Thu, 16 May 2013 09:57:00 +0100

Dunedin partner Giles Derry has been appointed the new chairman of ICAEW’s Corporate Finance Faculty

Sage CFO to stand down

Wed, 08 May 2013 09:51:00 +0100

The group CFO of software group Sage is to leave the company after 16 years

Osborne pushes EU tax directive

Tue, 14 May 2013 10:32:00 +0100

George Osborne will today urge his fellow EU finance ministers to sign a delayed tax avoidance directive

Fewer companies face financial distress

Thu, 25 Apr 2013 10:01:00 +0100

Fewer companies are facing severe financial distress than they were a year ago

Sainsbury's appoints Lady Susan Rice as profits drop

Wed, 08 May 2013 10:03:00 +0100

Sainsbury's has appointed Lady Susan Rice as a non-executive director, as it announces a fall in pre-tax profits

HMRC clarifies RTI NI number issues

Fri, 12 Apr 2013 12:18:00 +0100

HMRC issues a clarification about NI verification requests after being contacted by worried employers

PwC appoints head of reputational strategy

Fri, 10 May 2013 08:58:00 +0100

PwC has appointed Neil Sherlock as head of reputational strategy

RINO International settles SEC lawsuit

Thu, 16 May 2013 09:56:00 +0100

RINO International has agreed to settle over SEC claims that two of its executives diverted millions of dollars

Deloitte closes 37 HMV stores

Wed, 20 Feb 2013 12:29:00 Z

Deloitteis is to wind up an additional 37 HMV stores over the coming weeks

CGT yield jumps 43%

Fri, 08 Mar 2013 17:29:00 Z

The amount of unpaid CGT HMRC collected over the last tax year jumped by 43%

UK to avoid triple dip recession, says ICAEW

Mon, 04 Feb 2013 10:25:00 Z

Survey concludes UK will avoid a triple-dip recession with business confidence the highest in two years

Poorest to face council tax hike

Fri, 01 Feb 2013 09:20:00 Z

The poorest households in the country are to face council tax rises from the beginning of April

Luxembourg backs UK on FTT

Mon, 22 Apr 2013 15:21:00 +0100

Luxembourg will support the UK’s legal challenge on the proposed Financial Transaction Tax (FTT)

Inflation holds steady at 2.8%

Tue, 16 Apr 2013 11:16:00 +0100

CPI remained at 2.8% in the year to March rising marginally from 2.7% in the last six months

Frozen VAT claims rocket

Mon, 08 Apr 2013 12:06:00 +0100

Increased concern over VAT fraud has resulted in a 44% rise in refund claims being withheld by HMRC

Bellpenny acquires IFA in expansion drive

Thu, 09 May 2013 15:31:00 +0100

Wealth manager Bellpenny has acquired the IFA arm of Kent-based accountancy firm Foot Davson

FCA appoints governance chairmen

Tue, 19 Mar 2013 12:06:00 Z

Three new chairmen have been appointed to the FCA's governance panels

Deloitte called in to finish DCMS accounts

Mon, 11 Mar 2013 09:55:00 Z

DCMS has called in Deloitte to finish its annual accounts, after the Treasury refused to sign them off

UK falls in rating of female empowerment

Fri, 08 Mar 2013 08:52:00 Z

The drive towards greater gender equality has stalled since the recession, according to new research from PwC

E&Y rejects PCAOB criticisms

Thu, 23 May 2013 17:19:00 +0100

Firm takes US accounting watchdog to task over its decision to publicise audit quality control issues

HMRC press officer charged over misconduct

Tue, 14 May 2013 16:12:00 +0100

Senior HMRC press officer Jonathon Hall is to be charged for allegedly leaking information on the 2010 Budget

HMRC names and shames in £4.6m revenue bid

Wed, 15 May 2013 10:20:00 +0100

HMRC has published its second “name and shame” list of tax dodgers in a bid to raise £4.6m

RTI insolvency issues need an answer

Wed, 17 Apr 2013 14:10:00 +0100

HMRC needs to clarify the RTI issues for insolvent businesses as a matter of urgency, Baker Tilly says

Truesdale joins Jockey Club as group FD

Wed, 15 May 2013 11:24:00 +0100

The Jockey Club has appointed Centrica’s Nevin Truesdale as group finance director

US signs deal with China over audit papers

Fri, 24 May 2013 16:50:00 +0100

The PCAOB gains access to the audit working papers of firms in China that audit US-listed companies

Mazars poaches six RSM Tenon partners

Fri, 24 May 2013 15:51:00 +0100

Mazars has recruited six partners from mid-tier rival RSM Tenon to expand its East Midlands operation

RSM Tenon updates on trading progress

Tue, 07 May 2013 14:43:00 +0100

RSM Tenon says an award of £5.5m over the dispute with its insurers could push its accounts into profit for 2013

US and Australia team up with HMRC in offshore tax scrutiny

Thu, 09 May 2013 17:28:00 +0100

HMRC will work with US and Australian tax authorities is a new crack down on offshore tax avoidance schemes

Clicks over bricks in India

Mon, 08 Oct 2012 10:27:00 +0100

The entry of hypermarkets into India doesn't have to sound the death knell for small shopkeepers

Forty years of VAT

Thu, 04 Apr 2013 16:20:00 +0100

Daniel Lyons, VAT partner at Deloitte, considers the evolution of the "simple tax" on its 40th birthday

The causes of the mis-selling scandal

Tue, 29 May 2012 00:00:00 +0100

Why mis-selling could cost the banks billions

Britain moves out of recession

Thu, 25 Oct 2012 12:04:00 +0100

Britain has climbed out of a double-dip recession after posting its strongest quarterly growth since 2007

FRC updates guidance on audit of financial instruments

Thu, 04 Oct 2012 14:00:00 +0100

The FRC is consulting on guidance for audits involving risk from financial instruments

The Patent Box: innovation and the economy

Fri, 22 Jun 2012 00:00:00 +0100

What are the implications of the Patent Box and how will it work?

EU recession returns

Wed, 15 May 2013 00:00:00 +0100

Was there any good news from the latest eurozone growth figures?