BusinessCompany NewsWeek in review: 2 – 6 December

Week in review: 2 - 6 December

This week saw the chancellor come under attack for his pre-Budget spending plans, while the first mid-tier firm announced plans to hive off its consulting arm and an accountant went to jail for defrauding the Inland Revenue.

Monday

saw the government launch a major VAT offensive with athousand VAT men being diverted to crackdown on tax avoidance in a bid to rake in £2bn a year in missing revenue by 2005/06.

On the practice front Howarth Clark Whitehill became the first accounting firm outside of the Big Four to announce plans to separate out its consulting arm from its main accounting business.

On Tuesday the largest tax case in UK history got underway as solicitors battled it out with the Inland Revenue over a case which could ultimately cost the chancellor billions.

It was also announced that a certified accountant was handed a 15 month custodial sentence and forced to make a voluntary payment of £75,000 after pleading guilty to ‘cheating her Majesty and the Public Revenue’.

Wednesday saw Howard Flight, the shadow chief secretary to the Treasury, accuse Gordon Brown of hiding over £100bn off the government balance sheet.

A report by the National Audit Office into major projects undertaken by the Ministry of Defence found that nearly three-quarters of them are suffering from delays or price increases.

On Thursday Accountancy Age revealed that mid-tier firms have picked up tens of millions of pounds of new business from the Big Four as an increasing number of companies switch consultants over fear of conflicts of interest.

Also on Thursday, Accountancy Age revealed the front-runners in the race to replace Rosalind Wright as head of the Serious Fraud Office, although there are no signs of any accountants being favoured to take the post.

Friday saw the week round off with more questions asked of Gordon Brown. Top economists from financial think-tanks warned that the chancellor’s plans for public finances may be over-optimistic and left little room for error.

For more news from the week that was go to last seven days.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor