Category Archives: News


Accountancy firm Grant Thornton (GT) has been reprimanded by the Financial Reporting Council (FRC) over an audit for a company called AssetCo. GT will also have to be a fine of £2.3m over the issue. The FRC said GT, and Read more…


tax

International law firm Pinsent Masons say that HMRC’s Large Business Directorate collected £943m from large businesses over the last year, through Accelerated Payment Notices (APNs). APNs are issued to those who are suspected of tax avoidance, and demand the full Read more…


A settlement between Tesco and the Serious Fraud Office has been agreed, and will involve the retail giant paying a £129m fine following their accounting scandal. Sir Brian Leveson approved the deferred prosecution agreement (DPA) on 10 April 2017. The Read more…


tax

Tax investigation insurance specialists PfP say that HMRC has collected an additional £3.3bn from SMEs, after enquiring about underpaid VAT. PfP said that two newly created HMRC units had been tasked with carrying out the investigations: the Individuals & Small Read more…


Tesco will avoid prosecution for overstating profits in 2014, but will have to pay a fine of £129m. Following a two-year investigation, the retailer was able to reach a deferred prosecution agreement (DPA) with the Serious Fraud Office (SFO). The Read more…


Accountancy

The AAT has signed the Women in Finance Charter, a measure designed to promote gender equality in the finance industry, and in signing have become the first major accountancy body to do so. The charter was created in March 2016 Read more…


Accountancy firm KPMG changes its graduate recruitment process

Bill Thomas, the chairman of KPMG’s Americas region, has been elected as the new chairman of KPMG International and will take over from John Veihmeyer. Mr Thomas has been with KPMG for 28 years, and between 2009 and 2016 he Read more…


Accountancy

Chancellor Philip Hammond has given a limited suggestion in his Spring Budget speech that business rates are set to be reformed. He said there was “scope to reform the revaluation processs” to “avoid the dramatic increases that the present system Read more…


Accountancy firm KPMG changes its graduate recruitment process

ICAEW chartered accountant Bill Michael has been revealed as the new UK chairman of KPMG, succeeding Simon Collins on 30 September 2017. Mr Michael is the global head of banking and capital markets at the firm, and has worked for Read more…


Tax

£92m was collected by HMRC’s Counter Avoidance Directorate in unpaid Stamp Duty Land Tax (SDLT) according to figures provided by Collyer Bristow, a private client law firm. This figure represents a large decline from the £301.2m that had been collected Read more…