Hannah Wisbey (Accountants St Ives)

The government is consulting on proposals to significantly change the role of Companies House, with the aim of ‘increasing the transparency of UK corporate entities and helping combat economic crime’.   The consultation considers reform to: the information that companies are required to disclose increasing the checks on the information disclosed measures to improve the…

No audit sets out to conclude with total confidence that a set of financial statements are 100% free from any misstatement. To do so would belie the technological reality and scale of modern business; auditors would likely become a permanent fixture at client premises to review every single business transaction and audit would become an…

Technological advances in the ways that data is captured, processed, stored and communicated continually change the ways in which we do business. In the context of auditing, data analytics concerns the process of extracting, transforming, validating and analysing large volumes of data to make judgements and form conclusions. The way we approach auditing must change…

  In a recent tax tribunal test case, relating to the well-known actor Robert Glenister, HMRC were challenged as to whether the IR35 intermediary tax rules should apply to an actor earning his living through a personal service company.   As is typical with individuals providing their personal services through an intermediary company, Mr Glenister…

Business Book-keeping: Waiting for a ‘cloudy’ day? No matter what size your business is, it is a legal requirement to keep all records and documents if you need to complete a tax return. Failure to do so could lead to penalties of up to £3,000 if HMRC check your records. In addition to the legal…

Don’t Risk Poor Controls. Risk taking is an innate quality of entrepreneurs. However, those with prowess have the art of maximising beneficial opportunities and avoiding detrimental risks, thus limiting the potential for loss. With this in mind it is the responsibility of management to undertake regular risk management reviews and establish effective internal controls. Areas…

Painless Audits! It is a common misconception that the purpose of an audit is to find errors or fraud within a company’s financial records. However, the real purpose is to give readers of financial statements confidence that they give a true and fair view of the actual trading performance. At Whiting & Partners our approach…