PwC issues apology after Oscars best picture envelope mistake

The Guardian: PricewaterhouseCoopers, the accountancy firm that has overseen the counting of the Oscars ballots for 83 years, has apologised for the most spectacular blunder in the history of the starry ceremony – when the award for best film was mistakenly presented to La La Land instead of the actual winner Moonlight.

Full story: https://www.theguardian.com/film/2017/feb/27/pricewaterhousecoopers-issues-sincere-apology-for-oscars-blunder

MoJ confirms hike in probate fees

Law Society Gazette: The Ministry of Justice has confirmed a massive overhaul in probate charges, which will see some estates charged up to £20,000. From May this year, subject to parliamentary approval, the MoJ is planning to introduce a sliding scale of charges for probate fees to replace the current flat fees.

Full story: https://www.lawgazette.co.uk/law/moj-confirms-hike-in-probate-fees/5060010.article

Deloitte overtakes PwC as world's largest firm

ICAEW: Deloitte has wrestled back its crown as the biggest firm in the world by fee income following a strong year.

Full story: http://economia.icaew.com/en/news/february-2017/deloitte-overtakes-pwc-as-worlds-largest-firm

Newly qualified accountants in high demand

ICAEW: Recently qualified accountants were in high demand last year, particularly auditors making their first move into the industry, Morgan McKinley's UK Salary Guide has found.

Full story: http://economia.icaew.com/en/news/february-2017/newly-qualified-accountants-in-high-demand

Inheritance tax trap: more than 100,000 families won't get the new tax break

Daily Telegraph: Hundreds of thousands of people who established trusts as a way of limiting inheritance tax liabilities will have to hurriedly re-arrange their affairs – or risk losing out on a valuable new tax perk.  Lawyers warn there is a “ticking time bomb” which could see families miss out the new “family home allowance” which could save thousands of pounds in death duties.

Full story: http://www.telegraph.co.uk/tax/inheritance/inheritance-tax-trap-100000-families-wont-get-new-tax-break/

HMRC criticised over film industry tax avoidance probes

BBC News: HMRC has rejected criticism by Andrew Tyrie, chairman of the Treasury select committee, over its response to the exploitation of tax breaks for the film industry.

Full story: http://www.bbc.co.uk/news/business-39080743

HMRC collects £92m in property tax avoidance crackdown

Solicitors Journal: The government’s targeted crackdown on stamp duty land tax avoidance seems to be taking effect as property investors lose their appetite for such schemes, Collyer Bristow has advised.

Full story: https://www.solicitorsjournal.com/news/201702/hmrc-collects-%C2%A392m-property-tax-avoidance-crackdown

RSM appoints two partners to strengthen team

Accountancy Age: RSM has appointed two new partners to its East Anglian team.

Paul Harris has been appointed as lead partner in the private client tax team. He joins from Grant Thornton in Norwich, and was previously a private client tax partner with Smith & Williamson in Salisbury. Harris has over 30 years’ experience in private client taxation, including expertise in advising on wealth preservation and capital tax planning.

Full story: https://www.accountancyage.com/2017/01/31/rsm-appoints-two-partners-to-strengthen-team/

Six partner promotions at Crowe Clark Whitehill

Accountancy Age: Top 15 firm Crowe Clark Whitehill has announced six partner promotions, effective April 2017.  In the private clients tax team, Richard Bull, Nick Latimer and Mark Stemp have all been promoted.

Full story: https://www.accountancyage.com/2017/02/02/six-partner-promotions-at-crowe-clark-whitehill/ 

Tax fraud loses HMRC £16bn

Accountancy Age: A total of £16bn was lost through tax fraud last year, according to estimates released by Pinsent Masons.

Full story: https://www.accountancyage.com/2017/02/09/tax-fraud-loses-hmrc-16bn/ 

The rising significance of inheritances

Accountancy Age: Rosamond McDowell of Payne Hicks Beach solicitors looks at key changes to inheritance tax policy, which apply from April this year.

Full story: https://www.accountancyage.com/2017/02/09/the-rising-significance-of-inheritances