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Mind the tax gap

20/06/2025

The UK government’s revenue people failed to collect £46.8 billion in owed tax in 2023/2024, according to… HMRC itself! That makes the official tax gap 5.3%, with HMRC bringing in...

caba wants to do more for you!

20/06/2025

As part of a new strategy, caba says it wants to reach out and help 80,000 ICAEW members, students, and their families. This is a big shift for the charity,...

The International Accounting Standards Board (IASB) is undertaking a post-implementation review of IFRS 16 Leases. IFRS 16 aimed to improve information that companies provide about their lease arrangements to investors...

When is a poppadom not a potato crips?

19/06/2025

Walkers has lost its appeal against HMRC over its claim that its “Sensations Poppadoms” should be treated as zero-rated for VAT The First-tier Tribunal had earlier decided that Sensations Poppadoms...

Mistaken identity!

19/06/2025

Following the news that P&O Ferries had a new auditor, Rachel Davis, owner of Just Audit Limited, went online to stress her firm was well, ‘not them’! The new auditors...

The future ACCA qualification – almost here!

18/06/2025

Accountancy is changing and so is the ACCA qualification. The next issue of PQ magazine (published at 12.30 on the 24 June to coincide with the launch) will exclusively cover...

Your sustainability knowledge hub

18/06/2025

The IFRS Foundation has released new e-learning modules on its knowledge hub to help companies understand the implications of the new suitability standards – IFRS S1 and IFRS S2. The...

Councils still under unstainable financial pressures

18/06/2025

Local councils face a looming financial cliff-edge with no hope of a reprieve, says a new Public Accounts Committee (PAC) report, and CIPFA says the UK government must act...

Who can own an audit firm?

17/06/2025

With the rise of private equity investment in audit firms, ICAS is calling for a full-scale review of who can own these firms. It believes the rules of ownership need...