PAYE reforms slammed by finance professionals
The government has put forward ideas for an overhaul of the PAYE system, but finance professionals fear the changes could do more harm than good.
Three famous tax cheaters take issue with the authorities
AccountingWEB appears to be developing a rogues gallery of taxation ne'er-do-wells as the same celebrities continue to make headlines. Wesley Snipes, Conrad Black, Lil Wayne, and Suge Knight are, once again, in the news.
'Hoodies into entrepreneurs' training company to pitch at Midlands leg of £50,000 business contest
A company that turns around the lives of young offenders by equipping them with entrepreneurial skills is among the five finalists in the Midlands heat of a nationwide competition tracking down the UK’s best new business.
Pensions tax relief: Will simple work?
Perhaps one day it will come to be seen as the last gasp of the UK’s outmoded and overly complex approach to tax law, but conoisseurs will be keeping their eyes open for clauses in the Finance Bill 2011 repealing provisions in the Finance Act 2010 (April) to restrict tax relief on pensions, before they actually come into effect.
Video: Anthony Lau - How winning The Pitch 2009 benefited his business
Anthony Lau, founder of Cyclehoop, was the 2009 winner of The Pitch, BusinessZone.co.uk's small business competition. In the interview below, Dan Martin catches up with Anthony and discusses the story behind his business, how the contest victory has benefited him and tips for the entrepreneurs competing for the title in 2010.
How to create client preference
Robert H Bloom outlines the four decisive customer moments and how firms can ensure they retain client loyalty at these points.
The big management reporting challenge: KPIs
In the first of our series of challenges, we're inviting members to pit their wits against each other to solve a selection of puzzles and case studies for a chance to win a bottle of wine.
The following case study comes from the Chartered Institute of Management Accountants (CIMA). Read through the text below and then post your answers to the questions that follow as comments below. We'll post the answers back on this thread next week and the member judged to have given the best answer will win a bottle of wine.
An entrepreneur's guide to pay-per-click advertising
Pay-per-click advertising (PPC) can be a minefield for those just starting out in business and it's one part of the marketing mix that many business owners don't fully recognise the value of. In our latest entrepreneur's guide, Internet search specialist Jamie McGrath explains how to get it right.
Included in a strategic marketing strategy, paying for traffic is the most effective method of increasing visitors to your site. It is one of the quickest ways to increase traffic and without regular traffic your business is going nowhere fast.
PPC compliments other marketing methods and the big advantage is that it will reach your target market much quicker. Setting up an advert campaign can be tailored to your budget and it's easy to measure. You'll be able to specifically target your audience and know if they reached your website as a result of an advert. You are in control of the pages your visitors see, so you can sit back and watch your traffic increase.
Business problem solving: Mediation
Marjorie Hurwitz Bremner outlines the merits of mediation in solving commercial and employment disputes.
What is mediation?
The Centre for Effective Dispute Resolution (CEDR) defines mediation as “a flexible process conducted confidentially in which a neutral person actively assists parties in working towards a negotiated agreement of a dispute or difference, with the parties in ultimate control of the decision to settle and the terms of resolution”.
Profile: Sudipta Moore
Name of firm: Moore Accountancy
Location: Altrincham, Cheshire
Established: I got my practicing certificate in April 2010
Staff employed: None
Working from: Home
Ofcom targets broadband speed claims
The communications watchdog Ofcom this week warned of as “a growing gap between the actual speeds delivered and the speeds that some ISPs use to advertise their services”.
The regulator’s research into broadband speeds during May found that the national average had increased 25% from 4.1Mbit/s to 5.2Mbit/s. But the actual speeds achieved tended to be lower than those advertised, noted Ofcom chief executive Ed Richards, who put forward a new industry code to ensure consumers were given accurate information when they signed up for a broadband service.
Blue Ribbon Panel leans toward separate GAAP for private companies
At its most recent meeting, held in Chicago on July 19, the Financial Accounting Foundation's (FAF) Blue Ribbon Panel Chairman Rick Anderson asked the panel to define the problem that private companies faced with U.S. GAAP and the standard-setting system and to narrow the field for proposed alternative models.
D.C. launches amnesty program waiving penalties, fees on back taxes
Delinquent taxpayers will get a rare opportunity to pay outstanding taxes and interest to the District of Columbia, have their penalties and fees waived, and avoid criminal prosecution. The DC Tax Amnesty program will run from August 2 through September 30, 2010, offering individuals and businesses the opportunity to satisfy their tax liabilities.
Let's consult! HMRC's summer feedback pack
In a consultative frenzy, HMRC this week issued eight separate documents setting out its proposals for new rules and reforms ranging from PAYE to pensions tax, furnished holiday lettings rules, controlled foreign company rules and travel & subsistence payments under the national minimum wage.
Many of the consultations pick up loose ends from Labour’s March Budget, or put forward new ideas such as PAYE reform and simplifying associated company rules around the small profits rate of corporation tax that were mooted in the coalition government’s June Budget.
AICPA asks Congress to repeal new 1099 reporting provision
The American Institute of Certified Public Accountants (AICPA) has asked members of Congress to repeal the section of the new health care law that requires businesses to report to the Internal Revenue Service any purchase from a vendor of goods or services worth $600 or more during the calendar year.
Tax tips for the Office of Tax Simplification
Simon Sweetman outlines the concerns around income tax and corporation tax which need to be addressed by the new Office of Tax Simplification.
Businesses face insolvency over tax debts
HMRC’s ‘Time to Pay’ rules could push some businesses into insolvency, experts have warned.
As the 31 July deadline for paying national insurance contributions looms large, HMRC’s policy on allowing extended time to pay under the Business Payment Support Service (BPSS) may push taxpayers towards less conventional sources of funds to pay the tax due.
Lung transplant accountant scoops six medals in European Games
Northamptonshire based chartered accountant recovers from double lung transplant to win big for Britain at the European Heart and Lung Transplant Games in Sweden.
In 2007, chartered accountant Nick Condon (34) was told he had just 18 months left to live, requiring four 40 minute physiotherapy sessions every day and sleeping on a ventilator with the help of multiple nebulizers.
KPMG Foundation awards $470,000 in scholarships
The KPMG Foundation this week announced it has awarded a total of $470,000 in scholarships to 47 minority accounting doctoral students for the 2010-2011 academic year.
BP seeks $9.9 billion tax credit for oil spill costs
On the same day it announced a $17 billion loss for the second quarter of 2010, BP this week said that it plans to claim a $9.9 billion taxation credit from the U.S. government for costs incurred during the oil spill cleanup operation in the Gulf of Mexico. Jason Bramwell reports.