Analysis: Audit watchdog faces catch-22 in hunt for new chief February 15, 2023 Britain’s audit watchdog is on the hunt for a new chief executive who can face down the Big Four accounting firms after Jon Thompson announced last week he would leave the post to lead the grossly delayed HS2 project. But in choosing a new boss, the newly-merged Department for Business and Trade has a difficult [...]
Leap in business insolvencies as ‘tough start’ to 2023 leads to 52 per cent surge in compulsory liquidations February 14, 2023 Corporate insolvencies rose seven per cent year-on-year in January 2023 with the number of compulsory liquidations up over 50 per cent, according to figures released today. The Insolvency Service said 1,671 companies went insolvent in January 2023, a seven per cent rise on the same month the previous year and 11 per cent when compared [...]
Get expert advice to resolve your tax issues February 14, 2023 When tax issues get complex, give Stewarts a call. The company provides specialist advice to family offices, high net worth individuals and corporate businesses, resolving problems with HMRC confidentially before they become more difficult; and, where appropriate, representing clients robustly before going to court or tribunal. It uses a range of dispute resolution techniques, combined with [...]
FRC chief Jon Thompson to leave audit watchdog to lead HS2 project February 9, 2023 The head of the UK’s audit watchdog, Jon Thompson, is set to step down to take up a new position as the chair of HS2. Thompson has handed in his notice to leave his job as head of the Financial Reporting Council (FRC) and will now serve out his six-month notice period, Sky News first [...]
HMRC delays are hindering UK growth, accounting body warns February 8, 2023 Major hold ups at HMRC are “acting as a drag on the UK’s economic growth,” the head of one of Britain’s top accounting bodies has said. The “unacceptable” delays, caused by backlogs at the UK’s tax authority, “need to be addressed promptly,” ICAEW chief executive Michael Izza said, as he called for the launch of [...]
100,000 civil servants to walk out on Budget Day, union says February 7, 2023 Around 100,000 civil servants are set to strike on Budget Day, their union has announced, amid a campaign of walkouts over pay disputes. The Public and Commercial Services Union (PCS) said it was escalating action after a “lack of movement” from the government over its concerns over pay, pensions and job security. Walkouts will take [...]
Sunak’s reshuffle: Shapps, Badenoch, Hands and Donelan in new cabinet roles after Zahawi’s sacking February 7, 2023 Prime Minister Rishi Sunak has appointed Greg Hands, a former trade minister, as the chair of the Conservative party after Nadhim Zahawi was sacked last month. The Department for Business, Energy, Industry and Strategy has also been broken up into two separate bodies. Grant Shapps, the former Business Secretary has been appointed Secretary of State [...]
Forget writing letters to stay at home mums, we need to rethink tax-free allowances February 7, 2023 Britain has a productivity and employment problem and the government, try as it might, can't get the over 50s or parents back to work. Changing tax-free allowances might be the ticket, writes Alex Petropoulos
EY says it does not owe ‘duty of care’ to taxman in fight over property magnate’s tax affairs February 6, 2023 EY has said it is under no obligation to help HMRC collect more taxes in defending itself against a High Court lawsuit over a British property magnate’s tax affairs. The Big Four accounting firm said it owed no “duty of care” to HMRC to have given it information that could have helped it collect more [...]
PMQs sketch: Starmer’s speechwriters on strike February 1, 2023 Train drivers, teachers, civil servants and apparently Keir Starmer’s speechwriters are on strike today. It’s the only explanation for the Labour leader trying yet again to get a non-answer out of Rishi Sunak about when he knew Nadhim Zahawi paid a penalty to HMRC. Trying to point out that Sunak probably did know the thing [...]