Insight

Insight / Accounting pay and vacancies on the increase

The accounting sector has seen one of the largest rises in advertised salaries over first quarter of the year, with a year-on-year increase of 6.6% compared to the national average of 1.3%, according to data from CV-Library

Insight / Top level corporate pay restraint continues

Top level pay restraint continues and executive pay levels are falling in real terms, with getting on for half of top bosses receiving no salary increase this year, according to PwC’s mid-season analysis of FTSE 100 remuneration policies

Insight / Jail term for property developer in £640k fraud

A former Ascot-based property developer, who stole the details of an offshore company in the British Virgin Islands and forged documents to commit fraud and evade VAT, has been jailed for three years and seven months following an HMRC investigation

Audit / FRC fines Grant Thornton £2.3m over AssetCo audit failures

The Financial Reporting Council (FRC) has fined Grant Thornton UK £2.275m and given retired partner Robert Napper a three-year ban and a £130,000 fine after its investigation identified a range of ‘widespread and significant’ failings in work on the audits of AssetCo plc, a provider of  outsourced fire and rescue services and equipment

Insight / Charity Commission finds failings in accounts quality

Over half of charity accounts still fail to explain how the charity is meeting its objectives, while a quarter do not meet basic standards for users, rising to almost half in the very smallest charities, according to research from the Charity Commission

Accounting / Companies House to reduce costs by 3.5% despite increase in workload

Companies House has outlined plans to reduce costs of baseline activities by 3.5%, despite having an increased workload, and will focus investment on improvements to digital services, expecting to have digital filing options for 99% of accounts by March 2018

Tax / ICAEW runs through charity rules on London Marathon donations

Ahead of this year’s London Marathon on Sunday, which holds the Guinness World Record for the largest single annual fundraising event, ICAEW has issued advice reminding accountants and others of the options to claim tax relief on any charitable donations for those taking part

Insight / VAT fraudster ordered to repay £2.2m

A man who falsely claimed to be an accountant and was sentenced for his role in a complex VAT repayment fraud involving fake construction companies, has now been ordered to repay more than £2.2m or face a further period in prison

Tax / Pensions held overseas fully taxable from April 2017, HMRC confirms

From the new tax year 2017/18, the full amount of any foreign pension received by a UK resident will be taxable where no UK tax relief was given on the pension savings, replacing the old 90% limit

Insight / EY becomes official apprenticeship trainer

EY has been awarded employer provider status, which will allow the firm to officially deliver apprenticeship training to its people, and is looking to take on 200 apprentices in September

Insight / Paternity rights: what you need to know - part 2

Part two in a series on parental rights focuses on the implications of paternity leave, examining the rights and responsibilities of both employer and employee while considering statutory paternity pay

Tax / Tax guidance updated for companies entering liquidation

HMRC has published updated guidance on mandatory online filing at the end of a company’s life, outlining the risks for companies that seek informal striking off or enter a Members’ Voluntary Liquidation (MVL) and therefore do not qualify for exemption

Insight / Companies House flags changes to anti-money laundering rules

Companies House is calling on companies and accountants to get up to speed with changes to UK anti-money laundering rules, including new requirements affecting people with significant control (PSC) information, which come into effect from 26 June

Insight / IESBA seeks feedback on key issues for code of ethics revision

The International Ethics Standards Board for Accountants (IESBA) has launched a survey seeking comments, views, and insights from stakeholders as the first step in identifying the key issues it should address in revising its code of ethics for professional accountants

Insight / Accountants offered incentives by peer-to-peer invoice finance marketplace

MarketInvoice, which bills itself the largest peer-to-peer online invoice finance marketplace, is launching a new incentive plan for referrals from accountants, commercial finance brokers and financial advisers in a bid to double lending to £2bn in 2017
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