Practice & Industry

Insight / IVSC revises global standards for valuation

The International Valuation Standards Council (IVSC), the global standard setter for valuation practice and the valuation profession, has launched its latest set of valuation standards, which will effect financial services and real estate sectors

Insight / £168m support for carbon capture storage ‘not value for money’

Attempts by the Department for Business, Energy and Industrial Strategy (BEIS) to start the adoption of carbon capture storage (CCS) have been unsuccessful, and the £168m spent on support for companies to adopt the technology has not been value for money, according to the National Audit Office (NAO)

Insight / NLW increases pressure for wage hikes

Over a third of businesses say the introduction of the national living wage (NLW) is putting pressure on them to increase wages, according to research carried out by the Reward and Employee Benefits Association (REBA) in association with JLT Employee Benefits

Insight / Scottish schools face financial management issues warns CIPFA

Current proposals to reform the £5bn per year Scottish education system could expose schools to significant financial risks, because of a lack of the necessary skills and governance framework, according to CIPFA Scotland

Insight / Brexit and elections hit European business confidence

Business confidence in the eurozone has hit its lowest level since 2012, amid concerns over Brexit and forthcoming European elections with Germany, France and the Netherlands all set to go to the polls this year

Accounting / MEPs reject incomplete anti money laundering blacklist

By a large majority, MEPs have voted to reject a European Commission proposal for a blacklist of states at risk of money laundering on the grounds it is not comprehensive enough

Insight / Micro businesses: preparing for auto enrolment pensions

By 2018 all employers will have to provide a workplace pension for their employees, otherwise known as automatic enrolment, including the latest tranche of stages in many of the UK's smallest business. Croner-i experts explain which workers are exempt from auto enrolment and the key dates for employers to consider

Insight / Duff & Phelps under fire over BHS insolvency fees

The work and pensions select committee has taken Duff and Phelps to task over their role as administrators to collapsed retailer BHS, after it emerged the firm’s final bill is likely to be £500,000 above its original estimate

Tax / NAO to look at online overseas retailer VAT evasion

The National Audit Office (NAO) is to carry out an investigation looking at the risk of VAT evasion by overseas online retailers, which HRMC has estimated costs the Exchequer around £1bn a year

Tax / Treasury chief Ellison pledges ‘steady, predictable tax regime’

Jane Ellison, financial secretary to the Treasury, has pledged to maintain ‘a steady, predictable tax regime’ and states that there is a need for practical changes to increase certainty, in response to a debate within the accounting profession over how tax policy is best developed

Insight / Manchester United heads world table of £5.5bn football club revenues

Manchester United heads the table of the 20 highest earning football clubs in the world, who between them generated a record €7.4bn (£5.5bn) of revenue in 2015/16, an increase of 12% on the previous year, according to research from Deloitte

Tax / Trump inauguration: US tax reform tops agenda

Ahead of president elect Donald Trump’s inauguration tomorrow, his victory in the US presidential election has given people reason to start talking seriously about a real possibility of a long awaited comprehensive US tax reform, explains Jeff Whener, Jon Traub and Natalia Mityaeva at Deloitte

Insight / Professional services sector leads 2017 growth charts

The professional services industry is anticipating strong growth in 2017, with more firms expecting to increase their turnover this year compared to any other sector, according to research by business data website Company Check

Accounting / EFRAG sets up academic panel

The European Financial Reporting Advisory Group (EFRAG), which advises the European Commission on IFRS issues, is seeking candidates for its new academic panel, as part of a move to increase its research activities

Insight / CIOT announces 2017-18 presidential team

The Chartered Institute of Taxation (CIOT) has confirmed its team of officers for 2017-18 with John Preston set to take over as the institute’s new president from the current postholder, Bill Dodwell, in May