Accountancy Age back issues from April 2006:
Good news on good friday.(payments on Good Friday to fall under 2007/08 tax year)(Mars UK Ltd. and William Grant and Sons Ltd. won the stock depreciation case)(Brief article)
Apr 05, 2006; ... Byline: Alex Hawkes ONLINE This week's top stories on accountancyage.com/sector Good news on Good Friday HM Revenue & Customs has cleared up the confusion over the operation of PAYE and national insurance contributions where pay is ...
Now you see him . . .
Apr 05, 2006 ... Byline: Alex Hawkes Now you see him . . . Chris Lucas, Barclays' former auditor when he was at PwC, took over at the weekend as the bank's CFO. But the bank is in the midst of merger talks with ABN Amro, the Dutch bank. So how long will he last? WHAT'S ...
myth of the salesman.(salesmanship in financial services)
Apr 06, 2006; ... Byline: Pete Belsey, Huthwaite myth of the salesman Few occupations are more misunderstood than that of the salesman. Take any accountancy practice; at most there is likely to be only a small proportion of staff with a sales-related job title. Few staff members would ...
grey matter.(forecasts of financial and insurance products)
Apr 06, 2006; ... Byline: Ziv Navoth grey matter In 1798 a young English demographer by the name of Thomas Robert Malthus published an influential paper in which he warned of an impending catastrophe -- the world's population would soon outstrip the world's agricultural ...
concrete plans.(shareholder relations )
Apr 06, 2006; ... Byline: Nicholas Neveling concrete plans 'Corporate governance has changed the way we communicate with our shareholders,' says Peter Johnson, the finance director of Taylor Woodrow, as he flicks through a heavy-looking copy of the group's accounts. ...
Hundred Group turns up the heat.
Apr 06, 2006; ... Byline: Paul Grant Hundred Group turns up the heat When the body that sets international standards and its counterparts across the Atlantic agreed on a work project that could remove the need for non-US companies to reconcile their accounts to US GAAP, it was seen as ...
Inheriting a problem.
Apr 06, 2006 ... Byline: Ian Miles Inheriting a problem The 'alignment' of the inheritance tax treatment of trusts could have ramifications for millions. There would appear to be circumstances in which the spouse exemption might not be available on death if Budget note 25 ...
Government to press on with plans for R&D tax credits.
Apr 06, 2006 ... Byline: Alex Hawkes Government to press on with plans for R&D tax credits Alex Hawkes The government is to press ahead with plans to create special units for assessing R&D tax credit claims. The chancellor was notably quiet in the ...
Investors pick new audit fight.
Apr 06, 2006; ... Byline: Paul Grant Investors pick new audit fight Audit Paul Grant About six months ago, representatives from some of the largest UK investment bodies were fighting tooth and nail to ensure that the true and fair view audit, previously the ...
Healthcare equity deals set to hit [pounds sterling]15bn.
Apr 06, 2006 ... Byline: Nicholas Neveling Healthcare equity deals set to hit [pounds sterling]15bn Corporate Finance Nicholas Neveling A visit to a private doctor's rooms for a consultation has always been a costly exercise, and finally private equity has ...
Freeholds spurned to quench capital thirst.
Apr 06, 2006 ... Byline: Nicholas Neveling Freeholds spurned to quench capital thirst Nicholas Neveling Once perceived as a desperate attempt to rescue a drowning business, sale and leaseback of commercial property has re-emerged as a popular way to unlock value and ...
HMRC's budget cuts raise fears on service.(Her Majesty's Revenue and Customs)
Apr 06, 2006; ... Byline: Alex Hawkes HMRC's budget cuts raise fears on service Tax Alex Hawkes As tax advisers settle down to absorb and deal with the impact of the Budget, their counterparts at HM Revenue & Customs have an altogether different problem -- how ...
Watchdog attack hits Severn Trent.(United Kingdom. Office of Water Services)
Apr 06, 2006; ... Byline: Nicholas Neveling Watchdog attack hits Severn Trent Nicholas Neveling Severn Trent, the FTSE 100 utility group, has revealed that it will take a [pounds sterling]10.6m hit to its profits after water regulator Ofwat reprimanded the group for ...
Investors win latest audit battle.(Brief article)
Apr 06, 2006; ... Byline: Paul Grant Investors win latest audit battle Paul Grant Investors are confident they have won their battle to ensure amendments to the company law reform bill, that could have dramatically reduced the scope of auditor responsibility and liability, ...
Convergence is 'too rules-driven'.
Apr 06, 2006 ... Byline: Paul Grant Convergence is 'too rules-driven' Paul Grant Global convergence of accounting standards cannot be achieved through a rules-driven approach, despite standard development appearing to move that way, a new study has concluded. ...
Jail threat for advisers who refuse to co-operate.(Serious Organised Crime and Police Act 2005)(Brief article)
Apr 06, 2006 ... Byline: Alex Hawkes Jail threat for advisers who refuse to co-operate Alex Hawkes Tax advisers could be jailed for refusing to answer questions about serious fraud cases, under new powers that took effect on Saturday. The powers, contained in ...
City rejects call to tip-off regulators.
Apr 06, 2006; ... Byline: Paul Grant City rejects call to tip-off regulators Paul Grant Calls for the City to tip off regulators over potentially dodgy accounts have been rebuffed by shareholders who fear it could damage their credibility and decimate their own investments ....
Suspensions signal more rules for AIM.(London Stock Exchange PLC tightens regulations )(Brief article)
Apr 06, 2006; ... Byline: Nicholas Neveling Suspensions signal more rules for AIM Nicholas Neveling The London Stock Exchange will continue to tighten up the regulation of its junior market AIM, after suspending 38 cash shells this week for failing to close a deal. ...
Lobbying on SA urgent.(accounting services)(Brief article)
Apr 06, 2006; ... Byline: Kevin Reed Lobbying on SA urgent The UK's largest accounting bodies are taking an urgent approach in persuading the government that shifting self assessment deadlines is not in the public's interest, writes Kevin Reed. Following a meeting between ...
Offshore billions could return.(franked investment income case)(Brief article)
Apr 06, 2006; ... Byline: Alex Hawkes Offshore billions could return Alex Hawkes Companies will today be advised about whether they can bring tens of billions of pounds stored offshore into the UK free of tax, as part of a European Court of Justice case that could have a ...
Bidders still keen on Tenon despite losses.
Apr 06, 2006 ... Byline: Nicholas Neveling Bidders still keen on Tenon despite losses Nicholas Neveling AIM-listed accounting firm Tenon confirmed there were still buyers lining up to challenge the management buy-out led by chief executive Andy Raynor, despite a [pounds ...
Engine room.(United Kingdom-budget)
Apr 06, 2006 ... Byline: insider business club Engine room Q What should companies be doing in the wake of the Budget? Alastair Kendrick: The gun has gone on manufacturers to start coming up with a car that meets the requirement of the new 10% tax band. They have until ...
Job to die for . . .(employees of financial services)(Brief article)
Apr 06, 2006; ... Byline: Rachael Singh People and moves ... Job to die for: Group FD, VT group Chris Rickhard who joins VT Group, the shipbuilding and defence contractor, as group finance director has landed the best job by some distance. Last August he announced plans to ...
Split decision.
Apr 06, 2006 ... Byline: Kevin Reed split decision What's happened GUS group finance director David Tyler will step down from his role when the company demerges over the next six to 12 months. The move by the FTSE 100 giant, which operates Argos Retail Group ...
View from the board: Customer satisfaction.
Apr 06, 2006 ... Byline: Akio Miyabayashi view from the board: customer sAtisfaction It happened in a restaurant in Osaka, Japan. Out with business friends from Switzerland, seven of us were sitting around the counter sipping aperitifs and talking while we ...
On the money.
Apr 06, 2006 ... Byline: Anthony Hilton on the money with Anthony Hilton The shareholder watchdog within the Association of British insurers issued one of its alerts a few days ago to remind companies that it does not like it when the ...
Chancellor makes a selfish assessment.(accountants)(Brief article)
Apr 06, 2006; ... Byline: Gavin Hinks AccountancyAge Chancellor has made a selfish assessment What do accountants and Essex strawberry pickers have in common? Well, accountants could, in some circumstances, become seasonal workers, as reliant on a short period of the year ...
The not so simple life.(Real Estate Investment Trusts)
Apr 06, 2006; ... Byline: Peter O'Sullivan, Tenon The not so simple life When pensions' 'simplification' was in embryo, financial advisers like myself feared a bleak, jobless period in the not too distant future. A-Day is here and all of that dread seems a very distant memory. ...
JGJ's brush with make-up.
Apr 06, 2006 ... Byline: Alex Hawkes JGJ's brush with make-up TS was loitering with intent in KPMG's Salisbury Square lobby the other day when we happened to bump into none other than JGJ. That's John Griffith-Jones for those not in the know about the new man's nickname. ...
Total tax.(Group methodology)(Brief article)
Apr 06, 2006; ... Byline: Alex Hawkes There have been some unkind suggestions emerging that the Hundred Group has been a little less than transparent over the launch of its report into the Total Tax Contribution Framework. Despite saying it would have a website featuring the report up and running ...
Digita HMRC.(HM Revenue and Customs)(Brief article)
Apr 06, 2006; ... Byline: Kevin Reed Last week's Digita annual conference in Stratford-upon-Avon had the potential to go off like a Big Four senior partner punch-up, after HM Revenue & Customs' Julian Hatt was lined up to talk about online services just after the announcement on shifting self ...
Let's get ready to rumble.(Hollywood blockbusters)(Brief article)
Apr 06, 2006; ... Byline: Nicholas Neveling Let's get ready to rumble TS has always enjoyed the spectacle that ensues when the Big Four get competitive, but it has never really reached the levels that would inspire Hollywood blockbusters. But that is not to say that some in the ...
Brown's out of touch with women.( Treasury select committee )(Brief article)
Apr 06, 2006 ... Byline: Paul Grant Brown's out of touch with women It was with some excitement that TS stumbled into a Treasury select committee meeting last week, with chancellor Gordon Brown facing a grilling over his Budget. After all, we hadn't had a good long kip for a while ...
Big Four refuses to accept restrictive French code.(cabinet minister Pascal Clement)(Brief article)
Apr 06, 2006; ... Byline: richard tromans Big Four refuse to accept restrictive french code The Big Four in France may be forced to appeal to the European Court of Justice in a bid for potentially damaging legislation restricting audit services to be scrapped, writes Richard Tromans. ...
BDO probes claim of unfair dismissal.
Apr 06, 2006 ... Byline: Kevin Reed BDO probes claim of unfair dismissal Kevin Reed An internal investigation is taking place at top ten accounting firm BDO Stoy Hayward following a claim of unfair dismissal made by a former employee. BDO has denied allegations ...
No way to behave.(behavioural impact)(Brief article)
Apr 06, 2006; ... Byline: Alex Hawkes No way to behave The Treasury's claim that it did not consult on the trusts issue because it would have 'had a behavioural impact' is deeply misleading. Firstly, the government announced in the Budget ...
Company reports.
Apr 06, 2006 ... Byline: Nicholas Neveling COMPANY REPORTS FTSE 250 Tullow Oil, the [pounds sterling]2.2bn company by market cap, has lashed out at government's plans to raise the tax on North Sea oil. Reporting a 98% increase in 2005 revenues, which climbed ...
Sector online.
Apr 06, 2006 ... ONLINE This week's top stories on accountancyage.com/sector NAO praises government The government has made more good progress in 2004/05 in implementing resource accounting, the National Audit Office said in its annual report. The watchdog ...
Recognising the brightest and best.(celebrated at a gala dinner in London)(Brief article)
Apr 06, 2006; ... Byline: Gavin Hinks Recognising the brightest and best Accountancy Age this week launches its 2006 awards to find the brightest and best individuals and organisations in the profession. Among others, we'll be looking to identify the best performing FDs in ...
E&Y brings Home Office to book.
Apr 06, 2006 ... Byline: Kevin Reed E&Y to bring Home Office to book Accountancy Age staff Ernst & Young has been drafted in to conduct an 'urgent review' of the Home Office's financial control systems, after the department was criticised for allowing its accounts to fall ...
Sanctuary sacks audit firm.
Apr 06, 2006 ... Byline: Alex Hawkes Sanctuary sacks audit firm Alex Hawkes Sanctuary Group has decided to sack Baker Tilly, the firm which last year qualified the music group's accounts. The group has had high-profile accounting issues in the last ...
Online.
Apr 06, 2006 ... FTSE 100 PENSION DEFICITS HAVE HALVED Pension deficits of FTSE 100 companies have halved ahead of A-day -- today's overhaul of the pension regime. Soaring share prices and the easing of pressure on bond markets, following proposals to lend over longer periods, have seen the ...
Football agents.
Apr 06, 2006 ... Byline: Kevin Reed The treatment of big money football transfers has caught the eye of HM Revenue & Customs. Top clubs have been contacted by the taxman (hmrc.gov.uk) over clubs paying players' football agents then clawing back the VAT -- with the issue being whether the agent ...
VAT reclaim is just the ticket for theatres.
Apr 06, 2006 ... Byline: Kevin Reed VAT reclaim just the ticket for theatres Kevin Reed Theatres will now be able to reclaim a proportion of VAT on the cost of hosting productions following a High Court judgment. Mr Justice Hart ruled in favour of the Mayflower ...
Gordon Bennett!(Gordon Brown)(Brief article)
Apr 07, 2006; ... Byline: damian wild Gordon Bennett! For most of us, it's always been a challenge trying to work out what's going through Gordon Brown's mind. But these days you have to wonder whether Gordon himself knows. By my reckoning, in the past six ...
Actuary standards.(financial reporting )(Brief article)
Apr 13, 2006 ... Actuaries will face a new reporting standards regime after the Financial Reporting Council, took on its new role as regulator of the profession. This new role follows recommendations contained in the Morris Review of the Actuarial Profession, published in March 2005. All the information ...
On the money.
Apr 13, 2006 ... Byline: damian wild on the money with Damian Wild We shouldn't be surprised that Sir Digby Jones is shunning the path trodden by his predecessors when he leaves his post as director-general of the ...
Work it, write it, win it.
Apr 13, 2006 ... Byline: Michelle work it a[bar] Not yet working smarter? Make sure your organisation gets down to the Work Wise Week (3-9 May) aimed at revolutionising the way we work. How can you say no? www.workwiseuk.org write it a[bar] A book ...
Stable companions.
Apr 13, 2006 ... Byline: Michelle Perry Stable companions Accountants' workloads have been growing exponentially in recent years, thanks to a rash of new regulation and changes to auditing and accounting rules. Firms have been fighting over the best talent and ...
Risks and opportunities.
Apr 13, 2006 ... Byline: Paul Grant Risks and opportunities OLd age questions It's hard to open a newspaper at the moment without a big splash on pensions featuring inside. Last week saw A-day, the introduction of the new pensions' regime for the start of the 2006-07 ...
Individual achievement: Accountant of the Year.
Apr 13, 2006 ... Byline: Gavin Hinks Individual achievement: Accountant of the Year When last year's winner caught the attention of our judges it was because he had managed to halt 20 years of accounting stagnation within the finance department of one the country's most notorious ...
New crime agency is armed to the teeth.(Serious Organised Crime Agency )
Apr 13, 2006; ... Byline: Alex Hawkes New crime agency is armed to the teeth The government made a big show of the launch of the Serious Organised Crime Agency last week. The move, said the government, would mean a new crime-busting FBI- style agency to take on drugs smugglers, ...
Scandal stoppers.
Apr 13, 2006; ... Byline: Bill Knight Scandal stoppers The Financial Reporting Review Panel is calling on the investment community to share responsibility for improving accounting in the UK by helping the panel. The panel aims to review about 300 sets of accounts each year, ...
In search of an end to work, work, work Once again our readers have given us an insight into their pay and working conditions in our salary survey, an event that never fails to produce some interesting observations. This time it was on pensions. With A-da.
Apr 13, 2006 ... Byline: Gavin Hinks In search of an end to work, work, work Once again our readers have given us an insight into their pay and working conditions in our salary survey, an event that never fails to produce some interesting observations. This ...
Unfair attitude of UK taxman slammed by advocate general.
Apr 13, 2006; ... Byline: David Callaghan Unfair attitude of UK taxman slammed by advocate general Tax David Callaghan The fall-out from the European advocate general's comment last week that the UK's approach to the taxation of EU subsidiaries was unfair, could ...
Cash shell windfall fails to materialise.(Brief article)
Apr 13, 2006; ... Byline: Nicholas Neveling Cash shell windfall fails to materialise corporate finance Nicholas Neveling Just like a young child who has been looking forward to Christmas for months, only to be disappointed on the day he unwraps his presents, so ...
Sarbanes-Oxley effect now wearing off for auditors.
Apr 13, 2006 ... Byline: Paul Grant Sarbanes-Oxley effect now wearing off for auditors audit Paul Grant When the Sarbanes-Oxley Act first reared its head in the wake of a rash of corporate scandals in the US, including Enron and WorldCom, ...
Takeover Panel refuses to block foreign buyers.
Apr 13, 2006; ... Byline: Nicholas Neveling Takeover Panel refuses to block foreign buyers Nicholas Neveling Finance directors and other executives under siege from foreign bidders have been warned that they should not expect the Takeover Panel to come to their rescue. ...
ACCA set to challenge ICAEW for global top spot.(Association of Chartered Certified Accountan)(Institute of Chartered Accountants in England and Wales)(Brief article)
Apr 13, 2006; ... Byline: Paul Grant ACCA set to challenge ICAEW for global top spot Paul Grant The position of premier UK accounting body may still be held by the ICAEW for the time being, but figures released by accounting's watchdog could soon see the body usurped on the ...
Auditors sucked into iSoft chaos.
Apr 13, 2006 ... Byline: Nicholas Neveling Auditors sucked into iSoft chaos Nicholas Neveling Deloitte could be dragged into the controversy clouding FTSE 250 IT company iSoft, after analysts expressed concern over accoun- ting problems. ...
SME standard could ruin convergence.
Apr 13, 2006 ... Byline: Paul Grant SME standard could ruin convergence Paul Grant The inappropriate development of accounting standards for smaller unlisted companies could cripple the drive towards global convergence, accountants have warned. The ...
Trust complaints are 'misconceived'.
Apr 13, 2006; ... Byline: Alex Hawkes Trust complaints are 'misconceived' Alex Hawkes The profession and the taxman are due for new clashes on the trust clampdown, as government sources told Accountancy Age that some of the row had been a 'hoo-ha' and that many ...
Shake-up likely to follow DTI audit probe.
Apr 13, 2006; ... Byline: Paul Grant Shake-up likely to follow DTI audit probe Paul Grant Intervention into the Big Four's dominance of the audit market looks almost certain following the publication of a report confirming that normal market forces are not ...
Recovery positions.(Tony Supperstone and Mark Palios)(Interview)
Apr 13, 2006 ... Byline: damian wild Recovery positions Q Should we expect an increasing number of companies to fail in the year ahead? Tony Supperstone: Generally speaking, the economy is bumping along. We're certainly not going to see the recession of the early 1990s ...
A year of uncertainty.
Apr 13, 2006; ... Byline: Dave Jones A year of uncertainty Finance professionals are certain only that they face a year of uncertainty, according to the survey of more than 1200 professionals. It reflects the fears created by the modest growth prospects in the chancellor's March ...