Latest News

Drone audit first

PwC UK has undertaken a stock count audit using a drone for the first time. It is all part of the Big 4 firm’s wider drive to harness emerging technologies to enhance audit quality and efficiency. The drone, which was manufactured and operated by QuestUAV captured over 300 images of the coal reserves at one the UK’s last remaining coal-fired

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Double counting of taxable benefits could cost thousands

A number of employees could be incorrectly paying too much tax due to double counting of taxable benefits, say leading accounting firm Blick Rothenberg. Simon Rothenberg, a senior manager at the company, said: “When companies restructure their operations due to financial difficulties or when preparing for Brexit, it is often required that employees move from being employed by one legal

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Retail administrations rise for the second consecutive year

The number of retailers entering into administration in 2018 was 125 – compared to 118 in 2017, a marginal increase of 6% according to Deloitte’s latest insolvency figures. In addition, the number of retailers entering into Company Voluntary Arrangements (CVAs) increased by 52%, from 25 in 2017 to 38 in 2018. Deloitte’s research shows the number of large multi-site retailers

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HMRC one-stop shop gets 200k customers

More than 200,000 new businesses have used a new one-stop cross-government service allowing new start-ups to register their company and also register for tax at the same time. The Streamlined Company Registration Service, which has been set up in a collaboration between HMRC and Companies House, will ease the burdens on new businesses, enabling them to concentrate on what they

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Apprenticeships doubts

It is in fact still young people who need to be convinced that apprenticeships are the best route to a good job, says a new poll from YouGov. Older people surveyed were much more likely to regard apprenticeships as the best chance for school leavers to find a rewarding career. Among 18 to 24 year-olds, some 34% said going to

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HMRC Talking Points

HMRC’s regular Talking Points webinars provide information, guidance and tips to help you understand tax issues. Forthcoming ones include: How to show self-employed business expenses on your tax return: This webinar has been designed to provide guidance on what is and what isn’t classed as an allowable business expense and will include motoring and premises costs. HMRC subject matter experts

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Iceland threatened with tax bill over staff savings scheme

Iceland could be forced to pay a £21 million bill after the HMRC accused the grocery retailer of breaking minimum wage rules over a staff Christmas savings scheme. According to The Times, the scheme – which is voluntary – allows shop floor staff to have sums deducted from their weekly wage packets, which was then saved in a separate account

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Two-thirds of UK workers ‘risking GDPR penalties’

A new survey has found that 64% of UK workers have violated the EU’s General Data Protection Regulations (GDPR), potentially incurring large fines for their employer A survey of 1,002 UK workers in full or part-time employment, carried out by technology services firm Probrand, has revealed that a majority of people admitted to having forwarded a customer email to their

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UK uptake of automation higher than European average

Deloitte’s research highlights that almost half of UK workers are already feeling the impact of automation. Forty-four per cent of workers say that some of the tasks they did five years ago have been automated and are now done by robots or software, up from a European average of 38% of workers. Meanwhile, 34% in the UK say that entire

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