Audit industry shake-up gathers momentum

The Competition and Markets Authority (CMA) has thrown its weight behind MPs who have called for a break-up of audit and consultancy services. Earlier this month, the Business, Energy and Industrial Strategy Committee highlighted a conflict of interest between audit...

Government contractors urged to pay suppliers on time

Businesses have been warned they could be prevented from winning government contracts if they do not pay their suppliers on time. The Government has sent letters to more than 10,000 businesses to warn them about new rules on prompt payments to their suppliers, which...

MPs call for ‘structural break-up’ of Big Four

The UK's largest accountancy firms should be split into audit and non-audit businesses, according to recommendations from a Government committee. The Business, Energy and Industrial Strategy (BEIS) Committee published a report highlighting a potential conflict of...

50% of SMEs not ready for Making Tax Digital

Half of small businesses are still not ready to comply with Making Tax Digital (MTD) for VAT, with just three weeks to go before it comes into effect on 1 April 2019. The Federation of Small Businesses (FSB) surveyed 746 VAT-registered small businesses and found that...

Thousands face huge tax avoidance bills

Contractors whose employers paid them through loans from offshore trusts are being urged to speak to us before 5 April 2019 or risk receiving massive tax bills. Up to 50,000 self-employed workers in the UK are believed to have benefitted from the lower income tax...