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Regulators
KPMG hit with £700k fine from UK accounting watchdog
The Financial Reporting Council (FRC) has fined ‘Big Four’ auditor KPMG £700,000 for failing to apply “sufficient professional scepticism ”in…
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Accounting Firms
EY acquires Breakthrough Funding Ltd
EY has acquired Breakthrough Funding Ltd, a UK-based Research & Development (R&D) independent tax consultancy which specialises in supporting companies…
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Coronavirus
Accountancy firms consider withholding partner payouts amid Covid-19 outbreak
Accountancy and law firms across the UK are reportedly considering withholding partner payouts, in order to mitigate some of the…
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Economy
UK GDP expected to contract by 15% in Q2 2020
The UK economy is about to enter the deepest recession since the financial crisis, including the steepest quarter-on-quarter decline in…
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Coronavirus
What we know about furlough leave and the CJRS
HMRC published details of the Coronavirus Job Retention Scheme (CJRS) on 26.3.20 which are available here: https://www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme Key points include:…
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Business
Leonard Curtis appointed as administrators to Scalloway Hotel
Stuart Robb and Michelle Elliot of Leonard Curtis Business Rescue and Recovery have been appointed as joint administrators of The…
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Business Bites
Wetherspoons’ boss was right to withhold wages
The media and the Twitterati have had a field day vilifying the founder and owner of pub chain Wetherspoons over…
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Coronavirus
Covid-19: Banks under fire over emergency loan scheme
Banks have come under fire over government-backed emergency loans which require business owners to sign for a personal guarantee, as…
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Coronavirus
Covid-19: Government suspends gender pay gap reporting
The Government Equalities Office (GEO) and the Equality and Human Rights Commission (EHRC) has taken the decision to suspend enforcement…
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Economy
Covid-19 brings UK economy to temporary standstill, says KPMG
The impact of the Covid-19 virus is expected to see the UK economy contract by 2.6% in 2020, according to…
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