Accountry
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As self-assessment season fast approaches, there’s always that one client who tells you, “I can’t afford to pay my tax.” So what should accountants do? It’s not self-assessment season without a client or two moaning about how they will ever be able to pay their tax and expecting their accountant to reduce the liability. An…
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In Go City Limited vs HMRC, the first tier tribunal (FTT) couldn’t see the attraction in HMRC’s four assessments of a leisure-pass business to VAT totalling £9,309,954. The taxpayer sold leisure passes to consumers. The passes entitled the consumers to use credits to visit certain attractions operated by third parties. Each pass contained a certain number…
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If you’re a self-employed business owner, you will need to choose a type of accounting you prefer when registering with HMRC: cash basis or traditional. In this guide, we’ll be explaining what the differences are and how to decide which is best for you and your business. What is Cash Basis Accounting? Businesses that use…
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The FRC has handed down a £251k sanction to EY UK after the firm was found to have exceeded the 70% fee cap on non-audit services. EY has been hit with a six-figure sanction in relation to the audit of a multinational mining group. Headquartered in Moscow but incorporated in London and listed as a…
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HMRC is adopting a geographic approach in its bid to tackle SMEs not complying with national minimum wage rules, the complexity of which is causing concern. Small or medium-sized enterprises (SMEs) are being targeted as HMRC ramps up its crackdown on national minimum wage (NMW) non-compliance, with the enforcement being so prevalent because of “how complex the…