Latest Accounting News for the UK Accountancy Profession

Accountancy Profession is an accountancy news aggregation site created by accountants for accountants

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Accountancy Age

  • newHMRC secures eighth NT Advisors tribunal victory

    HMRC secures eighth NT Advisors tribunal victory

    Accountancy Age HM REVENUE & CUSTOMS has secured its eighth victory in a row against tax avoidance schemes run by NT Advisers. Between them, HMRC's court successes against NT Advisors have now protected over £750m in tax, defeating five of…
    Published - 18 hours ago, 31 Jul 14, 9:58am
  • newCameron hints at raising 40p threshold

    Cameron hints at raising 40p threshold

    Accountancy Age THE PRIME MINISTER is considering raising the threshold for the 40% tax band, claiming to "understand" the problem of it kicking in "when people are not earning a lot of money". In a speech made to workers at a water company…
    Published - 18 hours ago, 31 Jul 14, 9:57am
  • newCheapAccounting.co.uk launches 'Dragon's Den' franchise

    CheapAccounting.co.uk launches 'Dragon's Den' franchise

    Accountancy Age ONLINE ACCOUNTANCY PRACTICE CheapAccounting.co.uk has launched a ‘Dragon's Den' style accountancy franchise. The new concept, which takes its inspiration from the well-known BBC show, requires no upfront investment from the…
    Published - 18 hours ago, 31 Jul 14, 9:51am
  • NHS accountant jailed over £2m fraud

    NHS accountant jailed over £2m fraud

    Accountancy Age THE FORMER HEAD of financial accounting at two NHS trusts has been jailed for stealing £2.2m of NHS funds, which he used to buy a portfolio 11 properties in Sussex and London. Trevor Barry Cosson (38) defrauded the cash from…
    Published - 2 days ago, 30 Jul 14, 11:11am
  • KPMG and Crowe Clark Whitehill win audit tenders

    KPMG and Crowe Clark Whitehill win audit tenders

    Accountancy Age KPMG and Crowe Clark Whitehill have won audit clients in the latest round of tender activity. As the UK prepares for new Competition and Market Authority (formerly Competition Commission) mandatory tendering rules for FTSE 35…
    Published - 2 days ago, 30 Jul 14, 10:58am
  • ICAEW urges HMRC to abandon 'unconstitutional' direct debt recovery

    ICAEW urges HMRC to abandon 'unconstitutional' direct debt recovery

    Accountancy Age HM REVENUE & CUSTOMS should scrap the planned introduction of new direct debt recovery powers because the procedure is "unconstitutional" and "wrong in principle", according to ICAEW. Under the plans, HMRC will be able to de…
    Published - 2 days ago, 30 Jul 14, 10:12am
  • Administrations hit lowest level since 2005

    Administrations hit lowest level since 2005

    Accountancy Age THE NUMBER of companies entering administration has fallen to the lowest level since the first quarter of 2005, government statistics show. According to the latest figures from the Insolvency Service, fewer companies entered…
    Published - 2 days ago, 30 Jul 14, 9:58am
  • East Anglian firms Aston Shaw and Morgan Woods merge

    East Anglian firms Aston Shaw and Morgan Woods merge

    Accountancy Age EAST ANGLIAN accountancy firms Aston Shaw and Morgan Woods are set to merge next month, in an attempt to galvanise growth. The newly-formed business, which will continue to use the Aston Shaw name, will operate five offices t…
    Published - 3 days ago, 29 Jul 14, 11:42am
  • Grant Thornton could face £200m civil suit over Tchenguiz SFO raids

    Grant Thornton could face £200m civil suit over Tchenguiz SFO raids

    Accountancy Age PROPERTY TYCOON Vincent Tchenguiz may sue Grant Thornton over the firm's involvement in a botched Serious Fraud Office investigation, in a case that may be worth hundreds of millions of pounds. Consensus Business Group chairm…
    Published - 3 days ago, 29 Jul 14, 11:23am
  • Deloitte receivers put Gherkin up for sale

    Deloitte receivers put Gherkin up for sale

    Accountancy Age RECEIVERS AT DELOITTE have put the City's iconic Gherkin up for sale up for sale with the landmark building expected to fetch around £650m. Deloitte's real estate arm and Savills have been jointly instructed to sell 30 St Ma…
    Published - 3 days ago, 29 Jul 14, 11:19am
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IFRS Foundation

IAS Plus

  • newDeloitte comment letter on the IPSASB strategy consultation
    Deloitte Touche Tohmatsu Limited has responded to the International Public Sector Accounting Standards Board’s (IPSASB) Strategy Consultation.
    Published - 7 hours ago, 31 Jul 14, 8:30pm
  • newIIRC issues two assurance on integrated reporting papers
    The International Integrated Reporting Council (IIRC) has published two assurance papers which provide an overview of assurance and its relationship to integrated report (<IR>). The papers are intended to stimulate global discussion for those interes…
    Published - 10 hours ago, 31 Jul 14, 5:50pm
  • newASBJ proposes use of modified IFRS
    The Accounting Standards Board of Japan (ASBJ) has issued Exposure Draft (ED) “Japan’s Modified International Standards (JMIS): Accounting Standards Comprising IFRSs and the ASBJ Modifications,” which provides details on the application of JMIS…
    Published - 14 hours ago, 31 Jul 14, 1:30pm
  • IASB issues second work plan update for July
    Following its July meeting, the International Accounting Standards Board (IASB) has again updated its work plan. The revised plan updates the expected redeliberation periods in the insurance contacts, leases and IFRS for SMEs projects, and extends t…
    Published - 1 day ago, 30 Jul 14, 11:55pm
  • EFRAG outreach event on leases
    The European Financial Reporting Advisory Group (EFRAG) will be holding an outreach event in Brussels on 15 September 2014 to discuss preliminary results of its public consultation on leases.
    Published - 1 day ago, 30 Jul 14, 5:40pm
  • July 2014 IASB meeting notes — Part 2
    The IASB's meeting was held on 22–24 July 2014, some of it a joint meeting with the FASB. We have posted Deloitte observer notes from Wednesday's joint session on leases and the IASB only session on IFRS Interpretation Committee issues, as well as…
    Published - 2 days ago, 29 Jul 14, 6:25pm
  • IFRS Foundation translations
    The IFRS Foundation has announced the publication of new French and Spanish translations.
    Published - 3 days ago, 28 Jul 14, 5:25pm
  • Agenda for the September 2014 ASAF meeting
    The International Accounting Standards Board (IASB) has released the tentative agenda for the meeting of the Accounting Standards Advisory Forum (ASAF), which is to be held at the IASB's offices in London on 25-26 September 2014. The meeting will dis…
    Published - 7 days ago, 25 Jul 14, 12:00pm
  • EFRAG issues two final endorsement advices and effects study reports on the amendments to IFRS 11 and IAS 16/IAS 38
    The European Financial Reporting Advisory Group (EFRAG) has submitted to the European Commission its endorsement advice letter and effects study report on the amendments to IFRS 11 regarding the acquisitions of interests in joint operations and the a…
    Published - 7 days ago, 25 Jul 14, 9:00am
  • New and revised pronouncements as at 30 June 2014
    Our popular summary of new and revised financial reporting requirements, updated for financial reporting periods ending on 30 June 2014. This listing can be used to perform a quick check that all the new financial reporting requirements such as new a…
    Published - 7 days ago, 24 Jul 14, 11:55pm

IFAC

Companies House - News

HMRC - What's New

Accountant Jokes and Fun

  • Death and Taxes and Zombies
    The following academic paper was brought to my attention after I tweeted a link to a newspaper report that incorrectly implied that more and more people are being 'hit' by inheritance tax while they are still alive.This article fills a glaring gap in…
    Published - 14 days ago, 18 Jul 14, 8:33am
  • All accountants are.......?
    When you start searching in Google the clever little thing offers to complete your search string. In effect the system recognises and offers you the rest of what other people have searched for even if the words are in a different order.Here are some…
    Published - 21 days ago, 11 Jul 14, 8:51am
  • What clients say to wind up their accountant
    What do clients say that winds you up?"I just popped everything in this carrier bag here - I knew you could sort it all out for me.""My friend's accountant says.....""I need a mortgage reference - you will make the figures look good for me won't you?…
    Published - 28 days ago, 4 Jul 14, 8:14am
  • John Challis on why he didn't become a tax inspector
    John Challis tells the story that in the late 1970's he was summoned by one of her Majesty's Tax Inspectors to discuss his meagre contribution to the Inland Revenue.John notes that he sat before a middle-aged grey suited man who had obviously not se…
    Published - 35 days ago, 27 Jun 14, 9:00am
  • Dictionary definition (or not) of timesheet
    As suggested by Cara Miller of Miller Walsh Associates in an article for Accountancy Age:Timesheet (noun): swearword commonplace in many a UK accountany office. Bane of life. Likely to cause lots of sighing. Method of keeping boss happy while drivin…
    Published - 42 days ago, 20 Jun 14, 8:09am
  • Charlie's Tax Return (from The West Wing)
    The 3 short clips linked up here are a delightful reminder of how wonderful was the TV show, The West Wing. And even though it addresses US taxes the reason for the discrepancy can just as easily arise under the UK's PAYE system.
    Published - 49 days ago, 13 Jun 14, 8:37am
  • The bar at the Taxation Awards
    Stephen Mangan was the host at last week's Taxation Awards. This is an annual event for 600 of the UK's top tax advisers - and a few hangers on like me.Mangan did a superb job. Worth a mention on this blog were his observations after he announced tha…
    Published - 63 days ago, 30 May 14, 9:58am
  • What do you give the man who has everything?
    A tax investigation!
    Published - 70 days ago, 23 May 14, 9:06am
  • Hidden money away and not told the taxman? Your options...
    The following suggestions are those of Phil Hodgen. He has offered this advice especially for those who have hidden money away in Lichtenstein banks, lied and not declared the interest on their accounts:Jump up and down and say “It’s not right! T…
    Published - 77 days ago, 16 May 14, 9:10am
  • A unique way to encourage clients to file their tax returns early

    Published - 84 days ago, 9 May 14, 9:19am