Pat Sweet

Pat Sweet

Pat Sweet is online reporter at CCH Daily incorporating Accountancy Live and Accountancy, covering news stories as they happen each day. With a background in specialist business publications, Pat covers tax, audit and accounting, as well as management consultancy and IT, and is now focused primarilty on developments in the accounting and finance markets. Contact Pat Sweet

Insight / SFP pre-pack finds new owner for cash-strapped care homes

Insolvency practitioner SFP has completed a sale of the business and assets of South Yorkshire Care Ltd, which provided care for elderly and vulnerable residents and went into administration after falling into arrears with HMRC, safeguarding 100 jobs and the future of the homes

Tax / Landfill tax to be extended to illegal waste sites

HMRC is holding a six-week consultation on draft legislation in Finance Bill (no.2) which will extend the scope of landfill tax to include disposals at sites which do not have an appropriate environmental permit, to ensure rogue operators handling waste illegally will have to pay

Tax / Warning for gig workers over self assessment deadline

With under a month to go to the deadline for individuals to register for self assessment with HMRC if they began trading in the 2016/17 tax year, there are fears that lack of awareness will mean many gig economy workers may miss the key date of 5 October, according to the Low Incomes Tax Reform Group (LITRG)

Tax / Diverted profits tax raised £138m from first notices

HMRC raised £138m from the new diverted profit tax (DPT) in in 2016/17, the first year it issued charging notices on large businesses for the so-called ‘Google tax’ designed to address tax avoidance by multinationals, one of which was drinks giant Diageo

Tax / HMRC to review approach to tax compliance in big companies

HMRC is considering adopting a new, more differentiated approach to managing tax compliance amongst the largest companies, and is a consulting on potential changes to its business risk review (BRR) process, which has not been updated for a decade

Tax / Knight Wolffe slated over ‘misleading’ tax avoidance scheme ad

HMRC has had a complaint upheld by the Advertising Standards Authority (ASA) over misleading income trust advertising by tax and wealth advisers Knight Wolffe, including the use of HMRC's logo, which it says sets a precedent for other tax avoidance scheme advertisers

Insight / Bell Pottinger calls in BDO as administrators

Three partners at BDO have been named as administrators to PR firm Bell Pottinger which has collapsed after haemorrhaging clients following public condemnation of a highly controversial campaign the agency ran in South Africa

Tax / European finance ministers call for revenue based tax for digital giants

Four European finance ministers have launched a move to introduce an ‘equalisation tax’ on digital multinationals like Google and Amazon, which would see them taxed on revenues rather than profits, a proposal which CIOT says risks undermining years of work on convergence in global tax systems

Tax / Tax evasion corporate criminal offence guidance updated

HMRC has finalised guidance on the corporate criminal offence of failing to prevent the facilitation of tax evasion, which requires businesses to implement ‘reasonable prevention procedures’ to meet the demands of the legislation, which comes into effect at the end of this month

Audit / Charity Commission warning on auditor concerns

Nearly 100 charities, with a collective total income of some £195m, filed accounts last year that included a formally modified audit opinion, suggesting they could be material misstated, according to analysis by the Charity Commission which warns trustees and auditors need to address the concerns more proactively

Tax / HMRC to face Treasury committee this week

The membership of the new Treasury committee has been announced, and the first evidence session later this week is to be with HMRC and is likely to focus on Brexit, the customs declaration services programme (CDS) and the childcare service

Tax / OTS seeks tax professionals

The Office of Tax Simplification (OTS), the statutory body which is an independent office of the Treasury and gives independent advice to the government on simplifying the UK tax system is looking for people to join its team

Accounting / FRC announces interim executive counsel

The Financial Reporting Council (FRC) has appointed Claudia Mortimore as interim executive counsel and director of enforcement from 1 November 2017, following the resignation of Gareth Rees earlier this month

Tax / HMRC wins £35m tax avoidance case with French bank

HMRC has won a tax avoidance case worth £35m against global banking group BNP Paribas, after a First Tier Tribunal (FTT) found in its favour in a case dating back to 2005

Insight / IESBA ethics code updated to clarify inducement rules

The International Ethics Standards Board for Accountants (IESBA) is consulting on proposals to strengthen the provisions in the code of ethics for professional accountants regarding the accepting and offering of inducements