Posted By Thiago Kiwi
The financial year ending 30 June 2015 saw UK accountancy firm Grant Thornton report a 1.6% year-on-year increase, achieving a £521m total.
This means profit before tax for the company hit £82m, with a figure of £398,000 distributable profit per partner - a rise of 3.4%.Read more >>
According to new research from Deloitte, US investment into companies in the North West of the UK has seen a big increase this year.
The regional deals market is the focus for the Big 4 firm's latest Cross Border Deals Radar report, which reveals that so far there have been 36 inbound transactions in 2015, and US based companies were responsible for 14 of them.Read more >>
Bishop Fleming, a leading regional UK accountancy firm, has urged greater focus on plans to devolve business rates.
With new plans for local councils to have the power to keep and spend the money raised through business rates, certain issues may affect the viability of local businesses across the wider UK economy.Read more >>
According to new analysis by Prudential of the latest HMRC data, there was a 15% increase in inheritance tax paid in the 2012 to 2013 tax year.
Almost 18,000 estates faced an average bill of more than £170,000, and the total paid was £3.05bn - as opposed to £2.65bn in the previous tax year.Read more >>
With the third VAT MOSS return looming for businesses on 20th October, a campaign group has issued a stark warning about potential effects on the European digital single market.
EU VAT Action has highlighted how the time involved in implementing new regulations will cause problems and has asked for an ‘interim’ threshold to help SMEs in the transition period.Read more >>
The Institute of Chartered Accountants in England and Wales (ICAEW) has called for a comprehensive review of the arrangements surrounding taxation of property income.
Buy to let landlords are expected to be especially hard hit by changes to the wear and tear allowance, and with mortgage interest rates expected to rise in the near future, they could experience a nasty double blow.Read more >>
KPMG’s new survey “Calibrating Strategy and Risk” reveals that many boards fail to make the connection between the two.
Company strategy and risk assessment are important aspects of involvement for corporate boards, but work needs to be done to comply with the 2014 UK Corporate Governance Code, according to the Big 4's study.Read more >>
A new public consultation project has been launched by The European Commission to test the waters for a re-launch of the Common Consolidated Corporate Tax Base (CCCTB) proposal.
In another move aimed at tackling aggressive tax planning by large companies and high net worth individuals, the Commission wants to find out how the new tool would be accepted and implemented.Read more >>
Small and medium-sized practices (SMPs) must diversify in order to be successful, according to a new study from The Association of Chartered Certified Accountants (ACCA).
The global body for professional accountants has issued a report called 'The Global SMP business model: understanding a changing profession' that concludes competition for survival is harder than ever before.Read more >>
Accountancy sector firm PwC saw its network report £23.37bn total global gross revenues for the fiscal year ending on 30 June 2015.
The latest figures, a 10 percent increase on the previous 12 months, means the firm leaps ahead of Big 4 rival Deloitte to snatch the top place amongst the fierce competitors.Read more >>
Difficulties facing emerging economies and global markets are eroding corporate appetites for risk, according to a survey of Chief Financial Officers (CFOs) by Big 4 firm Deloitte.
Of the CFOs that took part, only 47% thought that now would be a good time to take any risks, a drop from 59% in Q2 2015.Read more >>
A four-week informal consultation is being offered by HMRC regarding the draft legislation for proposed amendments to the taxing of derivative contracts and corporate debt.
The new changes will affect existing legislation on loan relationships in a further attempt to clamp down on perceived abuses in corporate taxation.Read more >>
The permanency of non-domicile status will be abolished following the pledge by Chancellor George Osborne in his Budget speech, according to the latest Treasury consultation document.
The report on non-domicile taxation confirms a ‘deemed domicile rule' will soon be brought in.Read more >>
The Centre for Economics and Business Research (CEBR) has warned in a new forecast that the current economic recovery in the UK may not be sustainable.
Weak exports and decreasing investment in business means that any increase over the next five years could hinge on continued growth in household spending.Read more >>
The latest CBI/PwC Financial Services Survey has found that financial services firms experienced slowed growth in business volumes during the three months leading to September.
The rise in overall business volumes was at the slowest pace in two years, coming on the back of almost two years of strong expansion. However, overall optimism about business was stable due to over two and half years of continuous improvement.Read more >>
The issue of Natural Capital Accounting (NCA) is a concept that should be promoted among businesses, investors, governments and wider society, according to three leading professional, campaigning and business organisations.
In their latest joint paper, The Association of Chartered Certified Accountants (ACCA), Flora & Fauna International (FFI) and the Big 4 firm KPMG highlight the importance of NCA across a wide range of operations.Read more >>
Income tax receipts have unexpectedly fallen, and as a result, Britain’s deficit has risen to
£12.1bn in August. The figure represents the largest shortfall in government funding since 2012.Read more >>
Daniele Nouy, the European Central Bank's supervisory chief, has said that the introduction of a new accounting standard for financial instruments will present a challenge for the banking industry.
The chair of the Supervisory Board of the European Central Bank said modelling for expected losses will be particularly affected.Read more >>
Software giant Sage and Big 4 firm PwC have announced a new collaboration aimed at pushing forward global SME connections and growing UK activities.
The accounting software company and Big 4 firm are rolling out the new project in the UK before extending it across their international operations.Read more >>
Ernst & Young (E&Y) has merged with tax law firm Burt, Staples & Maner LLP in a move that sees the Big 4 firm expanding its international tax practice.
The law firm, based in Washington, DC, specialises in information reporting and withholding (IRW) and will be working closely with E&Y's worldwide network on international corporate tax reporting issues.Read more >>
Ben van Beurden, chief executive of Royal Dutch Shell, has admitted that he hasn't a clue what will happen to oil prices in the coming months.
When posed the question by the BBC, Van Beurden replied: "The honest answer to that is I don't know."Read more >>
With a Bank of England target of around 2% once again being missed, the latest figures show that the UK economy's inflation level has fallen back down to zero.
Sharp falls in both petrol and diesel prices played a major role, although they were not the only significant factors.Read more >>
According to The International Energy Agency (IEA), next year US oil production will experience its biggest fall since 1992.
Low oil prices that have seen prices cut by half in the past year are blamed, together with overall slower economic growth.Read more >>
In excess of 320,000 British businesses have lost a total of £6.4bn in the last year due to receiving poor advice, says a new report.
Research conducted by Direct Line for Business revealed that the average SME loses more than £20,000 a year.Read more >>
Although FTSE 100 companies have earmarked £1.66bn for tax litigation purposes this year, it is actually down 31% from last year according to Thomson Reuters.
In 2014, £2.39bn was set aside for tax disputes, but this year's move by some of the biggest firms in the UK economy is a strong signal that the tax authorities' corporate tax evasion and avoidance policies are working.Read more >>