9am Lowdown: AutoEntry, Ernst & Young fine, & Budget

9am Lowdown
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Good morning and welcome to the lowdown.

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News round up

Automated data entry software AutoEntry has received accreditation from the Institute of Certified Bookkeepers (ICB). (AutoEntry)

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FRC fines Ernst & Young £1.8m for misconduct relating the review of financial statements of Tech Data Limited. (Financial Times)

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Urgent progress is needed on a Brexit transition period to prevent City firms implementing contingency plans that could put up to 75,000 UK financial services sector jobs at risk. (The Guardian)

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Philip Hammond is mulling over plans to bring in tax breaks for younger workers funded by cutting tax relief on older generations in his forthcoming Budget. (inews)

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HMRC believes it is poised to recover £110m after winning a legal battle against a tax avoidance scheme promoter. (BT news)

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Beverley-based practice Business Works is the UK’s representative in Intuit’s global Firm of the Future competition. You can support Tomlinson and help her bring home the Firm of the Future prize by voting daily here.

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In this morning’s Practice Excellence Live seminar, Rebecca Cave and Emily Coltman delve into the most pressing tax issues lying in wait for small businesses in 2017-18. Then this afternoon, Neil Warren joins Cave and Coltman in a VAT gameshow-style session. Sign up for the sessions here.

New on AccountingWEB

This month’s Any Answers Answered responds to reader queries on the treatment of private health insurance as part of an HMRC enquiry and Form 17.

With CIMA qualified Jo Tomlinson winning the UK Firm of the Future competition, does this qualification embody the trusted adviser phrase?

Richard Hattersley summarises the case of two payroll directors who have been banned after owing HMRC over £1.4m in taxes.

On the blogs, HarryMowat analyses the challenges faced by the auto racing industry when it comes to financial accountability.

And on the Industry Insights page, Pandle gives an overview of the digital accounting technologies to look for in the future.

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