The most recent News from Accountancy Age

CIoT backs qualification call for all advisers

David Jetuah — 2008-07-18T10:52:00.000Z

David Jetuah, Accountancy Age, Friday 18 July 2008 at 10:52:00

Chartered Institute of Taxation says that anyone giving out tax advice should have a formal qualification

The Chartered Institute of Taxation called for a clampdown on unqualified accountants and tax advisers which would mean they would need professionally recognised qualifications before they can provide services....

Microsoft CFO blames tough times for profit scale back

David Jetuah — 2008-07-18T10:17:00.000Z

David Jetuah, Accountancy Age, Friday 18 July 2008 at 10:17:00

Chris Liddell puts Microsoft's decision to rein in its profit forecasts down to the hostile conditions in the global economy

Microsoft's chief financial officer has said that the software giant is starting to feel the effects of the economic slump after the company lowered its profit forecasts....

UBS axes offshore services for US citizens

AA Freelancer — 2008-07-18T10:11:00.000Z

AA Freelancer, Accountancy Age, Friday 18 July 2008 at 10:11:00

The Swiss bank has already closed down its US offshore banking business and will no longer allow staff to travel to the US to meet clients

UBS is to axe more of its offshore banking services amid a $20bn (£10bn) tax-avoidance investigation by the US government into the investment bank's former operations....

DSG FD quits to join Kingfisher

Penny Sukhraj — 2008-07-18T10:05:00.000Z

Penny Sukhraj, Accountancy Age, Friday 18 July 2008 at 10:05:00

The move for O' Byrne signals a return to a FTSE 100

DSG's financial director has left the company to join the B&Q group Kingfisher. Kevin O' Byrne joins Kingfisher, which is set to implement changes to help its sales and profits...

Grant Thornton tops US audit research

Kevin Reed — 2008-07-18T09:55:00.000Z

Kevin Reed, Accountancy Age, Friday 18 July 2008 at 09:55:00

US quarterly audit poll places GT top for the first time

Grant Thornton has taken first place in the quarterly US audit rankings, the first time it has been won by a firm outside the Big Four....

Business fraudsters heading for hardline treatment

AccountancyAge.com — 2008-07-18T07:23:00.000Z

AccountancyAge.com, Accountancy Age, Friday 18 July 2008 at 07:23:00

Businessmen convicted of fraud face hard-line treatment as an alternative to jail under measures open to judges

Business people convicted of fraud could be struck off professional registers, ordered to wind up their companies and be forced to pay back their victims, under proporsed measures open to...

HMRC’s £2.7bn investment in vain, NAO warns

AccountancyAge.com — 2008-07-18T06:56:00.000Z

AccountancyAge.com, Accountancy Age, Friday 18 July 2008 at 06:56:00

A £2.7bn investment to transform the way HMRC works may not pay off, NAO warns

The National Audit Office (NAO) yesterday warned a £2.7bn investment designed to transform the way HM Revenue & Customs (HMRC) works may not pay off....

Tories plan radical rejig of ‘dysfunctional’ Treasury

AccountancyAge.com — 2008-07-18T06:40:00.000Z

AccountancyAge.com, Accountancy Age, Friday 18 July 2008 at 06:40:00

A Tory government would radically restructure a ‘dysfunctional’ Treasury

George Osborne, shadow chancellor, says a Conservative government would radically restructure a ‘rather dysfunctional’ Treasury and scale back the department’s Whitehall empire and shake up its much criticised policymaking function,...

Chancellor on course to break 40% fiscal rule

AccountancyAge.com — 2008-07-18T06:18:00.000Z

AccountancyAge.com, Accountancy Age, Friday 18 July 2008 at 06:18:00

Alistair Darling is expected to scrap the 40% fiscal in the autumn to enable more borrowing

Gordon Brown and Alistair Darling are expected to change the fiscal rules in the autumn to enable borrowing beyond the maximum 40% of gross domestic product (GDP) permitted under the...

Bacon pans HMRC's'sketchy' £11.5bn savings plan

David Jetuah — 2008-07-17T17:59:00.000Z

David Jetuah, Accountancy Age, Thursday 17 July 2008 at 17:59:00

Revenue's transformatiom programme too reliant on best case scenario estimates says PAC firebrand

Richard Bacon has panned the taxman for using 'sketchy and volatile' estimates to arrive at a target of £11.5bn of savings when its transformation programme is completed....

Hogg wins FRC chair extension

David Jetuah — 2008-07-17T11:19:00.000Z

David Jetuah, Accountancy Age, Thursday 17 July 2008 at 11:19:00

Sir Christopher Hogg has had his term as chair of the Financial Reporting Council extended by a year

Sir Christopher Hogg has been asked to stay on as chair of the FRC for an extra year to make sure that the watchdog's governance changes are firmly in place....

LSE panned for shielding fined AIM companies

David Jetuah — 2008-07-17T10:38:00.000Z

David Jetuah, Accountancy Age, Thursday 17 July 2008 at 10:38:00

Exchange watchdogs criticised for not disclosing the identities of four companies hit with collective penalties of £170,000 after misleading investors

The London Stock Exchange has come under fire for keeping the names of four companies fined a total of £170,000 secret....

Liechtenstein and LGT group helped clients hide wealth

Penny Sukhraj — 2008-07-17T09:48:00.000Z

Penny Sukhraj, Accountancy Age, Thursday 17 July 2008 at 09:48:00

The methods used to hide client money included holding wealth in the name of a foundation, as well as counsel on the use of offshore structures and 'transfer corporations'

Investigators for the US Congress are set to deliver a 100-page report today, which will accuse UBS and Liechtenstein's LGT Group of helping US clients avoid billions in tax through...

Treves: Government must face Equitable cost

Kevin Reed — 2008-07-17T09:47:00.000Z

Kevin Reed, Accountancy Age, Thursday 17 July 2008 at 09:47:00

Equitable's chairman Vanni Treves says the government must face the cost of the insurer's collapse, as Ombudsman is expected to slam its departments over their role in the affair

The government should not duck out of paying compensation to policyholders of failed insurer Equitable Life, its current chairman has stated....

HMRC revise expected on service co question

AccountancyAge.com — 2008-07-17T09:12:00.000Z

AccountancyAge.com, Accountancy Age, Thursday 17 July 2008 at 09:12:00

HMRC is expected to publish revised notes with the service company tax question shortly

HM Revenue & Customs (HMRC) is expected to publish revised notes on the service company tax question shortly. The change comes after a meeting between representatives of the Chartered Institute...