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9am Lowdown: Snooker ace hit by winding-up petition

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3rd May 2016
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Good morning, welcome to the slightly later 9am Lowdown and a brand new looking AccountingWEB.

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Snooker ace faces winding-up petition

Scottish snooker player Stephen Maguire has been hit by an HMRC winding up petition.

Maguire’s company will be liquidated and he also faces a ban from being a director after unpaid income tax and National Insurance payments dating back from 2011 have swelled to £103,000. Since then the company stopped filing accounts with Companies House.  

“Stephen’s books were in an absolute mess,” an unnamed source told the Daily Record.

“You pay an accountant or lawyer to stay on top of these things but, in the end, as a director, he has to take legal responsibility for what’s going on with his company finances.”

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Bitcoin creator found

The creator of Bitcoin’s identity has finally been revealed – or has it. Yesterday, Craig Wright, an Australian entrepreneur, declared in a blog post that he was in fact the mysterious Satoshi Nakamoto - the pseudonym adopted by the founder of the digital-currency.

Writing on his blog, Wright said: “Be assured, just as you have worked, I have not been idle during these many years. Since those early days, after distancing myself from the public persona that was Satoshi, I have poured every measure of myself into research.”

Since Wright’s claim, the Bitcoin industry has been divided. Gavin Andresen, chief scientist at the Bitcoin foundation, has backed Wright’s claim, telling the BBC: "[Wright] fits the kind of person I was interacting with way back in 2010." However Eric Voorhees, founder of cryptocurrency trading app ShapeShift, said: "I generally trust Gavin [Anderseen]'s opinions so I want to believe this but I'm not convinced yet."

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Find your niche

On our US sister site AccountingWEB.com, Xero’s Amy Vetter has urged firms to find their niche in order to grow their business.

Since accountants across the pond are now reflecting on their busy season Vetter has suggested they consider change as they reflect on what worked and what didn’t.

To do this, Vetter has formulated five steps accountants can take to easily transition to an on-demand and personalised service. As a way to get the process going, here are a couple of Vetter’s suggestions to lead you in the right direction:

Selection: Consider the type of clients you naturally attract and look at your existing client roster to see if any patterns emerge. You might have an existing specialty and not know it!

Technology fit: Different industries require different capabilities, especially when it comes to technology. Evaluate the software and technology you have (or need) that will help potential clients and you become more efficient.

Read the full article on AccountingWEB.com.  

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