The Morning Account

The Morning Account is an early AM summary service of the news for the #Accounting and #Tax sector. Please contact or follow us for a free trial and more info.

[The Morning Account @MorningAccount]

All your clients and prospects are news hungry. Ally your brand to give them the news they need. Request a #free sample #Newsletter from the curators of #TheMorningAccount here:

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[The Morning Account @MorningAccount]

Analysts warn the Middle East crisis could force the UK to raise taxes further, as rising energy prices and potential defence spending increases put pressure on public finances. #UKEconomy #UKPolitics #Tax

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EY fined £6.5m and partner Richard Wilson £140,000 for inadequate audits of Thomas Cook in 2017-2018. The FRC found failures in applying professional scepticism, contributing to the company’s collapse in 2019. #EY #Audit #FinancialRegulation #ThomasCook

[The Morning Account @MorningAccount]

Wealth exodus from London
30,000 millionaires have left in a decade amid rising taxes & non-dom reforms.
UK lost 10,800 millionaires in 2024 alone.
Critics say tax policy is "strangling the golden goose."
#UKTax #WealthExodus #NonDom #InheritanceTax
https://t.co/SMJMN8WdZp

[The Morning Account @MorningAccount]

UK households face a £400 income hit this year due to a freeze on tax thresholds and higher National Insurance. The poorest half could see a 3% drop in disposable income. Rising bills add to the financial strain. #UKTax #CostOfLiving #IncomeHit

[The Morning Account @MorningAccount]

Shadow Chancellor Mel Stride has warned that unless Rachel Reeves scraps changes to employers’ National Insurance, she risks a slowdown in economic growth.
https://t.co/iY60mPM0dG

#tax #accounting #Economy

[The Morning Account @MorningAccount]

Reform UK leader Nigel Farage says the party will abolish inheritance tax if it wins the next general election.
https://t.co/ZMZ3Ttjxqs

#ReformUK #IHT #Tax #InheritanceTax

[The Morning Account @MorningAccount]

@TheFCA has promised “swift action” on making mortgages more accessible, with the City watchdog set to launch a consultation on simplifying rules, as well as alternative approaches to stress testing.
https://t.co/AMgdvqlyhl

#Finance #banking #StressTest #accounting

[The Morning Account @MorningAccount]

Data shows that B Corp-certified small businesses outperformed their peers in 2023/24, with revenue growth of 23.2% compared to the national average of 16.8%.
https://t.co/w1rSPgqewi

#BCorp #finance #accounting #SMEs

[The Morning Account @MorningAccount]

Analysis by investment firm Aberdeen highlights a looming generational transfer of wealth, with baby boomers set to pass down over £5trn in wealth over the next 30 years
https://t.co/QklPm33tnk

#WealthTransfer #accounting #tax

[The Morning Account @MorningAccount]

The Government is planning new performance targets for regulators in a bid to accelerate innovative technologies, attract investment, and enhance regulatory efficiency as part of plans to drive economic growth.

https://t.co/KB8PUIZaWS

#regulation #invesment

[The Morning Account @MorningAccount]

Senior financial services executives have warned City Minister Emma Reynolds that plans to apply VAT to investment funds could cost the industry an extra £147m a year and deter foreign investors.
https://t.co/dHnEr0QhK8

#VAT #Tax #accounting

[The Morning Account @MorningAccount]

Shops, restaurants, and pubs in England are set to face an additional £1bn in taxes due to a reduction in business rate discounts from 75% to 40% starting next month.
https://t.co/lnzt14PUk0

#BusinessRates #accounting #tax #retail #retailers

[The Morning Account @MorningAccount]

Tycoon Sanjeev Gupta is embroiled in a dispute with Grant Thornton, the administrators of Greensill Capital, over control of InfraBuild, a steel manufacturer valued at £3bn.
https://t.co/NrMNSO9Hfs

#accounting

[The Morning Account @MorningAccount]

An estimated 2.2m taxpayers are poised to receive unexpected tax bills as they transition into higher tax band for earnings exceeding £50,270, according to analysis by Coventry Building Society.

#tax #taxpayers #accounting

[The Morning Account @MorningAccount]

High-ranking security officials must file paper tax returns instead of digital ones due to privacy concerns, ensuring access is limited to a few #HMRC staff.
https://t.co/vTebEjZ2BD

#tax #TaxReturns #accounting

[The Morning Account @MorningAccount]

Analysis by the Institute of Student Employers shows graduates entering the workforce this year are starting on lower salaries in real terms compared to those who graduated three years ago - with average starting salaries of £32,000, a real-terms decrease of £3,559 since 2021.

[The Morning Account @MorningAccount]

PwC has reportedly settled with British American Tobacco (BAT) for £132m over a "deeply flawed" audit of Windward Prospects, a subsidiary which is now in administration that had been accused of polluting rivers in the US.

[The Morning Account @MorningAccount]

Research commissioned by the 38 Degrees campaign group has found that 63% of voters would back a 2% tax on assets over £10m - and that such a tax could raise up to £24bn, more than the £22bn hole in the public finances cited by the current Government.

[The Morning Account @MorningAccount]

RSM's US and UK entities are reportedly in talks over a merger. RSM UK, which has 350 partners, posted revenue of £543m in the year to March, a 12% increase on the previous year, while the US arm saw an 8% increase which took revenue to $4bn in the year to April.

[The Morning Account @MorningAccount]

The Resolution Foundation has recommended that Chancellor Rachel Reeves raise capital gains tax to 39% in the upcoming Budget, saying the system "deserves a major overhaul", including alignment with the higher rate of dividend tax.