Vale & West Chartered Accountants Blog

Category Archives:Lee Gardner

Patisserie Holdings reveal “extensive” accounting irregularities

An audit of Patisserie Holdings’ accounts have revealed “extensive” accounting irregularities, a report has revealed. Read More

EU allows VAT-free status for e-books

European Union (EU) finance ministers have agreed to lower sales taxes on e-books and other digital publications and align them to reduced levies applied to paper versions of books and magazines. Read More

VAT repayments by Bacs

Last week, HM Revenue & Customs (HMRC) published VAT Notes 2018 Issue 3, a guidance note containing important VAT-related updates and information. Read More

High Court gives FRC permission to use new auditing powers for first time

The auditing regulator’s new powers have been tested for the first time after the High Court cleared the way for the production of back-dated financial documents for the purposes of an investigation. Read More

CIoT slams scrapping of compensation for delays to VAT refunds

The Chartered Institute of Taxation (CIoT) has said it supports the proposal by HM Revenue & Customs (HMRC) to scrap compensation for delays to VAT refunds “unfair”, saying it could harm the cash flow of affected businesses. Read More

Liquidated company in hot water after failing to provide adequate accounts

A financial audit has uncovered the true extent of a company’s bungled finances after it was placed into liquidation in 2017. Read More

New reporting code sees auditors place greater emphasis on risk assessment and scrutiny

The proposed revision of the UK Standard: Auditing Accounting Estimates and Related Disclosures framework will be of “particular significance for banks”, the Financial Reporting Council has revealed. Read More

VAT and MTD

HM Revenue & Customs (HMRC) has now published further information on Making Tax Digital (MTD) as the start date for the introduction of a mandatory VAT service from April 2019 approaches. Read More

Non-corporate entities allowed to join VAT groups

The Government has announced that non-corporate entities, such as partnerships or individuals, will be able to join a VAT group with its ‘body corporate’ subsidiaries if it controls all of the members in a VAT group. Read More

Calls to delay MTD for VAT

The British Chambers of Commerce (BCC) has called for the HM Revenue & Customs’ (HMRC) initiative Making Tax Digital (MTD) to be delayed for up to two years so that the tax authority can concentrate on arrangements for Brexit. Read More

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