How HMRC works out total income and trading profits for the Self-employment Income Support Scheme Find out how HMRC will work out your income and profits if you're self-employed or a member of a partnership in the UK and have lost profits due to coronavirus (COVID-19). Published 14 April 2020 From: HM Revenue & Customs [...]
Ongoing enquiries In 2019, HMRC confirmed ongoing enquiries into 198 footballers, 44 clubs and 29 agents. Such investigations have even seen footballers’ homes raided by inspectors. Last year, HMRC warned some 1,900 football agents of possible investigations following “serious allegations of fraud”. So far, some of the biggest names – and the biggest tax bills [...]
HMRC expands its high net worth individuals criterion High net worth individuals At present, individuals with a net worth of more than £20m are defined by HMRC as ‘high net worth’ (HNW) and their cases are assigned to a specialist HNW unit with a personal manager. This allocation is designed to allow a higher [...]
Status of this advice Due to the exceptional current circumstances, the SORP-making body is issuing advice on the financial reporting implications that may arise from the measures being put in place to contain the impact of the COVID-19 virus. This advice does not amend the SORP, is advisory in nature and aims to assist preparers, [...]
Xero (software) Xero is a New Zealand domiciled public software company that offers a cloud-based accounting software platform for small and medium-sized businesses. The Company was founded in a Wellington studio apartment in 2006 by Rod Drury and his personal accountant when they felt that traditional desktop accounting software had become outdated and decided to create a modern cloud-based product. Xero Limited's global headquarters are still located [...]
Before immersing yourself in the complicated and at times convoluted world of forensic accounting, it’s important first, that you have a clear and comprehensive understanding of the concept of fraud – particularly financial fraud. There is a symbiotic nexus that connects the two, with both paradigms playing off one another in order to define themselves. [...]
Uncovering Fraud with Forensic Accounting: H & H Associates’ Expertise When a part-owner of a successful UK food manufacturer was forced out of her company against her will, she turned to H & H Associates for help. She trusted our forensic accounting experts and financial fraud investigators to uncover any fraudulent activities that may have [...]
The Commission says it will be working with charities to promote fraud prevention and help them develop anti-fraud cultures. It highlights that insider fraud can have a damaging impact on a charity’s reputation and the morale of other staff and volunteers, and can also dent donors’ and beneficiaries’ confidence in the charity and its work. [...]
UK businesses are being adversely affected by overseas companies that engage in “unfair and illegal” tax practices using online trading platforms, according to a report from the Public Accounts Committee. The committee said that such practices have been active for a number of years, with the committee first raising the issue in 2013, and campaign [...]
Two directors of a company that traded in fine wines have been disqualified for a combined 20 years, following an Insolvency Service investigation, after scamming its customers out of nearly £1 million. The investigation by the Insolvency Service found that Crimson Fine Wines Limited, based initially in London and then in Sittingbourne in Kent, used [...]
