Latest news with #accountancy
Irish Times
2 days ago
- Business
- Irish Times
How do I approach Revenue about modest tax debt stretching back many years?
I am writing to you on behalf of an elderly neighbour who confided to me that he is worried about unpaid taxes over a period of two decades. This man returned to Ireland approximately 20 years ago and initially paid tax as a PAYE worker. He later worked ad hoc as a consultant, engaging a local accountancy firm to do his tax returns. It subsequently transpired that the money he paid to the accountant to pay Revenue had not been paid. He has no pension pot or assets and has basically fallen on hard times after complying, he says, with all tax requirements throughout his working life. I gather that instead of contacting Revenue to find a solution, he buried his head in the sand and somehow fell through the tax net. READ MORE His only other employment was a number of casual cash-in-hand jobs until he reached pension age, which he did well over a decade ago. He has paid no tax on his Irish pension or on his UK pension. He wants to rectify the situation, but is not in a position to pay back the unpaid tax and any additional fines. He has no assets aside from modest savings, which he wants to be used for his funeral. Someone told him that his family in England will have to pay the taxes. He is deeply worried that he will face public shame, prosecution and imprisonment. [ Long delays in UK pension buyback programme leave people worrying they could miss out Opens in new window ] Any suggestions on how he can approach Revenue and how they might handle the situation would be much appreciated. Ms P.S. Your neighbour has found himself in a very unfortunate position which, inadvertently or not, he has actually made worse. However, it is important that he realise there will be no shaming, no imprisonment and, as long as he approaches them – rather than waiting to see if they will catch him – no prosecution. And no one is going to be chasing his family in the UK. If he dies with all this balance outstanding, Revenue could demand payment from his estate. If there were not enough to meet the full bill, that would be Revenue's loss at that stage, not an issue for his family – although there clearly might be no inheritance. You can certainly see how it happens. A compliant taxpayer finds himself in Revenue debt through absolutely no fault of his own but, given limited means, chooses to hunker down rather than engage. Almost always, the intention is to 'get around to doing something about it', but weeks become months, months become years, and making that call just seems to get more difficult. Passage of time makes the taxpayer feel almost complicit in the crime and the non-payment. From what you say, the initial 'problem' concerned a period of a little over a year and, given what you say about the issue being the failure of his accountant to pass on funds handed over to meet tax liabilities, rather than any active omission, he would have been assured of a very sympathetic hearing. Yes, the legal onus for meeting tax liabilities is his, not his accountant's, but in the circumstances outlined, an accommodating payment plan would have been easy to arrange. His failure to do so then, or at any time since, has created the potential to exacerbate the issue. Firstly, Revenue will want to know what he did after that time. From the timeline you provide, there would not have been much time between his accountant's fraud against him and his reaching retirement age, but even so, they'll be curious. Then there is the pension income. You don't indicate how much this is, but he apparently has pensions from both Ireland and Britain, so may well be over the tax exemption limit of €18,000 – even if he is not on a full pension from either state. [ Why are some people paying income tax at almost 70%? Their pension pot is too big Opens in new window ] It's important not to exaggerate the issue. At all times, he appears to have been living fairly modestly with little spare cash or savings – so much so that he never felt able to even agree a repayment plan with Revenue. In terms of shame and fear, I have no doubt he is feeling far worse now than he ever would if this had been resolved. As his tax debt is very unlikely to be beyond €50,000, he needs to know that he will not appear in any tax defaulters' list, never mind face imprisonment. If only for the sake of his own mental health, he really does need to sort all this out. The good news for him is that there is help out there. My strong advice is that he go initially to the Money Advice and Budgeting Service (Mabs). This State-funded network specialises in dealing with people who are struggling with debt. It is free of charge and totally confidential. Mabs are contactable by phone and also have a network of offices across the State, providing face-to-face meetings which, I would suggest, would make more sense for this gentleman. You can find his local office here , together with their phone numbers, to arrange an appointment. Otherwise, he can call their national helpline on 0818 07 2000 or email helpline@ . That helpline is open from 9am to 8pm. He should first gather any relevant documents he has and a list of the relevant dates. If some paperwork is missing or the dates are fuzzy, no worries – don't let that put him off meeting Mabs. The service can help him with contacting the Revenue. Once that is done, there are various approaches available under personal insolvency legislation. These include a debt relief notice, a voluntary arrangement, a debt settlement arrangement, or a personal insolvency arrangement. If your neighbour's means are as limited as he tells you, he may in fact not end up paying anything but, even if his means do allow repayment of some of the debt over time, the arrangements under the personal insolvency legislation are designed to ensure he has sufficient money for his personal needs. These arrangements were not in place when your neighbour's woes began, but they offer him a structured and dignified way to put all this behind him and not live with the stress that currently has him living in fear. Please send your queries to Dominic Coyle, Q&A, The Irish Times, 24-28 Tara Street, Dublin 2, or by email to , with a contact phone number. This column is a reader service and is not intended to replace professional advice
Yahoo
24-06-2025
- Business
- Yahoo
Xeinadin acquires London-based Silver Levene
Xeinadin, an accountancy and business advisory firm in the UK and Ireland, has acquired Silver Levene, a London-based independent practice. This acquisition, Xeinadin's largest to date, marks a step in expanding its influence across the capital and the UK. Silver Levene, with 19 partners and nearly 150 staff, serves niche industries including legal, film, TV, music, and publishing. Silver Levene also has client base in pharmacy and private healthcare. With more than 60 years of experience, the firm is known for solving complex issues without relying on generic solutions. This integration is expected to significantly enhance Xeinadin's reach in London, enabling it to provide tailored, sector-specific advice to SMEs. Silver Levene joined Xeinadin to leverage its existing strengths and accelerate long-term growth. The acquisition allows Silver Levene to benefit from Xeinadin's back-office support, freeing them from managing compliance, IT, HR, marketing, and procurement. This enables the firm to focus more on clients and colleagues. Xeinadin CEO Derry Crowley said: 'This is a standout firm. The team at Silver Levene have built something with a clear point of difference and real depth. Their understanding of their sectors is second to none and work with clients who expect more than just compliance. 'Bringing them into Xeinadin sharpens our capabilities in London and brings in knowledge that adds immediate value. We really look forward to working with our new partners who we know will fit very well into our entrepreneurial culture.' Silver Levene managing partner Marc Franks said: 'We pride ourselves in thinking outside of the box. Clients come to us for solutions that others might not spot. We wanted to stay at the forefront of London's accountancy market – not as a small cog in a big wheel, but as a firm with something meaningful to offer at the heart of the capital. 'What mattered to us was finding a true fit for our personality, our culture and our independence of thought that's been at the heart of Silver Levene for decades. Xeinadin understood that straight away and this move gives us the backing to keep developing. Anything has always been possible, but more is achievable now that the firm is part of Xeinadin.' Xeinadin stated that with its partner-led structure and cloud accounting expertise, Silver Levene's clients now have access to a broad, technology-enabled offering. This supports businesses at every growth stage, offering personalised and tailored business support. "Xeinadin acquires London-based Silver Levene" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Zawya
24-06-2025
- Business
- Zawya
ACCA announces redesign of qualification for a redefined accountancy profession
Global accountancy body ACCA (the Association of Chartered Certified Accountants) has announced a redesign of its gold standard ACCA Qualification focused on a redefinition of accountancy which is expanding and reshaping the role of the profession. The redesign reflects the increasing role of accountants in driving the widening value needed for business success, combining profitability with ethics, sustainability, the ability to leverage new technology and the agility to deal with economic volatility. Similar changes are being seen in the public sector. Responding to and anticipating the evolving needs of employers, the changes build on the current strengths of the ACCA Qualification. They will introduce a more integrated learning and assessment experience, including AI-enhanced learning journeys, designed to equip the next generation with the professional skills and technical expertise they need to succeed in a dynamic and volatile world. The announcement follows extensive consultation with members, employers and learning providers around the world, as well as representatives of Gen Z. The redesigned qualification will be introduced from mid-2027. Helen Brand, chief executive of ACCA, said: 'Accountancy is being redefined. Accountants are drivers of sustainable business, promoters of social value, and enablers of new technologies. They are sharpening their financial and ethical skills for a changed world of ever-shifting opportunities and challenges. They innovate with new business models and fresh thinking about what success looks like. They focus on people, planet and prosperity to create value for all. 'The changes we're making will equip the next generation for this exciting new future that will bring wider and more varied opportunities.' Employability is a key focus of the changes, which include the introduction of Employability Modules at each of the qualification's three levels, providing simulated work experiences on topics such as digital tech, ethics, sustainability and business management. Enhanced awards and designations recognise achievement and allow students to demonstrate their skills to employers at every stage of their ACCA journey. Technology, sustainability and ethics, already integral to the ACCA Qualification, will be interwoven at every stage. Another innovation is a new Data Science Professional exam which students can choose as an option at the final 'Strategic Professional' level. Kush Ahuja, Head of Eurasia and Middle East at ACCA, said: 'The ACCA Qualification has always been the gold standard, globally recognised and highly valued by employers in the Middle East. It will remain as rigorous, relevant, and future-focused as ever, with an even sharper focus on employability. 'The redesigned qualification comes together as a unified experience at each of its three levels with learning guidance and support, assessments, employability support, and help to develop skills. Students will benefit from tailored learning journeys supported by AI technology and a digital mentor.' ACCA has prepared a smooth transition for all students currently on, or about to start, their ACCA journey. Existing achievements will be recognised and there will be no disadvantage in terms of progression and the cost to complete the qualification. ACCA students will continue to benefit from the opportunity to attain a world-leading academic qualification alongside their ACCA studies with our new BSc (Hons) Professional Accountancy collaboration with the University of London. ACCA is known for its focus on inclusion and opportunity. A redesigned 'Foundations' route requiring no prior qualifications provides those not meeting the entry criteria for the ACCA Qualification with a way to meet it. Find out more at For media enquiries, contact: Middle East media contacts: Natalie Glorney natalie@ Sheila Tobias sheila@ ACCA News Room E: newsroom@ About ACCA We are ACCA (the Association of Chartered Certified Accountants), a globally recognised professional accountancy body providing qualifications and advancing standards in accountancy worldwide. Founded in 1904 to widen access to the accountancy profession, we've long championed inclusion and today proudly support a diverse community of over 252,500 members and 526,000 future members in 180 countries. Our forward-looking qualifications, continuous learning and insights are respected and valued by employers in every sector. They equip individuals with the business and finance expertise and ethical judgment to create, protect, and report the sustainable value delivered by organisations and economies. Guided by our purpose and values, our ambition is to lead the accountancy profession for a changed world. Partnering with policymakers, standard setters, the donor community, educators and other accountancy bodies, we're strengthening and building a profession that drives a sustainable future for all. Find out more at:
Yahoo
24-06-2025
- Business
- Yahoo
Xeinadin acquires London-based Silver Levene
Xeinadin, an accountancy and business advisory firm in the UK and Ireland, has acquired Silver Levene, a London-based independent practice. This acquisition, Xeinadin's largest to date, marks a step in expanding its influence across the capital and the UK. Silver Levene, with 19 partners and nearly 150 staff, serves niche industries including legal, film, TV, music, and publishing. Silver Levene also has client base in pharmacy and private healthcare. With more than 60 years of experience, the firm is known for solving complex issues without relying on generic solutions. This integration is expected to significantly enhance Xeinadin's reach in London, enabling it to provide tailored, sector-specific advice to SMEs. Silver Levene joined Xeinadin to leverage its existing strengths and accelerate long-term growth. The acquisition allows Silver Levene to benefit from Xeinadin's back-office support, freeing them from managing compliance, IT, HR, marketing, and procurement. This enables the firm to focus more on clients and colleagues. Xeinadin CEO Derry Crowley said: 'This is a standout firm. The team at Silver Levene have built something with a clear point of difference and real depth. Their understanding of their sectors is second to none and work with clients who expect more than just compliance. 'Bringing them into Xeinadin sharpens our capabilities in London and brings in knowledge that adds immediate value. We really look forward to working with our new partners who we know will fit very well into our entrepreneurial culture.' Silver Levene managing partner Marc Franks said: 'We pride ourselves in thinking outside of the box. Clients come to us for solutions that others might not spot. We wanted to stay at the forefront of London's accountancy market – not as a small cog in a big wheel, but as a firm with something meaningful to offer at the heart of the capital. 'What mattered to us was finding a true fit for our personality, our culture and our independence of thought that's been at the heart of Silver Levene for decades. Xeinadin understood that straight away and this move gives us the backing to keep developing. Anything has always been possible, but more is achievable now that the firm is part of Xeinadin.' Xeinadin stated that with its partner-led structure and cloud accounting expertise, Silver Levene's clients now have access to a broad, technology-enabled offering. This supports businesses at every growth stage, offering personalised and tailored business support. "Xeinadin acquires London-based Silver Levene" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
21-06-2025
- Business
- Yahoo
Robson Laidler takes over Tindles Chartered Accountants
Robson Laidler, an accountancy and business advisory solutions provider, has acquired Teesside-headquartered Tindles Chartered Accountants. Financial specifics of the transaction were not revealed. The deal, described as Robson Laidler's 'largest acquisition' in more than 100 years, creates a group with a £9m ($12.2m) combined turnover. It also increases the firm's headcount to 126 across Newcastle, Durham, and Teesside offices. Tindles will retain its 20 staff and operate from Medway House at Teesdale Business Park. Founder Robert Tindle will stay on to integrate the businesses, which will trade separately for six months. Tindles partner Angela Foster will lead alongside Robson Laidler's co-managing directors Amy Park and Nick Wilson, and directors Michael Moran, Peter Charles, John Holbrook, and Nick Cunningham. Nick Wilson said: 'This forms an important part of our overall growth and investment strategy where we aim to open more office locations across our five-year-vision. Our strategy is to remain independent whilst keeping our purpose at the forefront of everything we do, which is to make a positive difference to people's lives and that includes our clients, our people and the wider community. Our vision is to leave a legacy by becoming the firm of choice, growing our business in a way that makes us proud, focusing on both purpose and profit. 'Rob and Angela have built a hugely successful business over many years in Teesside and are a fantastic fit in terms of shared values, services and geographically where we want to grow our business. Ensuring continuity across our whole client base is paramount and we are excited to have Tindles join us on our journey to make the biggest impact possible as a unified force.' Hay & Kilner and JLF offered legal advice to Robson Laidler on the deal, while Punch Robson represented Tindles. "Robson Laidler takes over Tindles Chartered Accountants" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
