9am Lowdown: Argos tops NLW name and shame list

Lowdown
Lowdown
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Here is Thursday’s lowdown.

In the news

Argos has topped the government’s name and shame list of employers who have failed to pay National Minimum Wage and Living Wage. Retailer Argos failed to pay £1,461,881.78 to 12,176 workers. (GOV.UK)

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Deloitte Digital, the marketing services arm of the consultancy, has announced the acquisition of Acne, the Stockholm based creative agency. (The Drum)

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Ireland's finance minister said the European Commission's demand that Dublin collect up to €13bn (£11.9bn) in back taxes from Apple was unjustified. (The Telegraph)

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HMRC has confirmed that the required format for country-by-country reporting will be via an XML schema, to ensure international consistency. (GOV.UK)

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New on AccountingWEB

In the first of a two-part series, Sooraj Shah explores open banking and what it means for the profession.

Wendy Bradley applies her years of experience working for HMRC to assess the accuracy of Channel 4 documentary, ‘Catching the Tax Dodgers’, and muses on how HMRC could be reformed. 

The Any Answers question of the day comes from bookywood. Their client’s previous accountant put all their expenses into the accounts including loan interest, repairs and other premises costs, and then added 50% back for personal use. The AccountingWEB member wants to know if this a reasonable figure to use.  

Over on the blogs, Les Howard looks at an Upper Tier appeal where HMRC raised eight reasons why the taxpayer should not have followed HMRC’s own guidance.

And finally, Logical Office reveals on its industry update page the time bandits that are stealing accounting practices’ billable hours.  

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Contributions from the AccountingWEB.co.uk editorial team.

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