PwC has reportedly settled with British American Tobacco (BAT) for £132m over a "deeply flawed" audit of Windward Prospects, a subsidiary which is now in administration that had been accused of polluting rivers in the US.

Research commissioned by the 38 Degrees campaign group has found that 63% of voters would back a 2% tax on assets over £10m - and that such a tax could raise up to £24bn, more than the £22bn hole in the public finances cited by the current Government.

ONS figures suggest that a surge in demand for tax advice contributed to economic growth over the summer. A 4.3% increase in output from accounting, bookkeeping, and auditing services accounted for a substantial portion of August's 0.2% GDP growth after two months of stagnation.

The Local Government Association is calling on the Chancellor to give council bosses unlimited power to raise council tax. Under current rules, council tax can only be raised by a maximum of 5% per year, unless approved through a local referendum.

Figures from outsourcing data company Tussell show government spending on consultants reached £3.4bn last year - £1.3bn (62%) higher than in 2019-20. The new Government has said it aims to halve spending on consultancy services, with cuts of £550m next year and £680m in 2025/26.

The former finance chief of Yellow Pages, Tony Bates, has been charged with a multi-million-pound fraud, accused of concealing the company's true financial position for personal gain.

Private equity giants, including CVC and KKR, are considering making bids for Grant Thornton, the sixth-largest accounting firm in the UK. The formal sale process is expected to start next month, and any deal is likely to value the firm at around £1.5bn.

Far-right activist Tommy Robinson is facing an investigation by HMRC over unpaid taxes, which could amount to millions of pounds when fines and interest are taken into account. buff.ly/4fP0e8g

Revolut has been valued at £35bn in a share sale, making it Europe's most valuable start-up and surpassing the valuations of Barclays and NatWest. The fintech firm recently obtained a UK banking licence and is considering a stock market flotation.

The accountancy firm Azets has warned businesses about a convincing scam letter impersonating the HMRC tax office. The letter, which closely resembles an HMRC letter, asks recipients to verify their financial information - but gives a contact email address without a .gov domain.

PwC is facing a lawsuit from Revelan, a UK commercial property developer, alleging "negligent" tax advice over five years that caused Revelan to face a £3m tax bill. Revelan is seeking £6.6m from PwC.

Details from HMRC's annual report reveal that British businesses and individuals owe £45bn in taxes. This amount, if recovered, could remove the need for tax rises. #HMRC #accounting #tax #taxrises

4 in 10 see no change from consumer duty Analysis by MoneyHub shows that just 22% of customers have noticed improvements on how they are being treated since consumer duty regulations were introduced a year ago. buff.ly/4dBl8pF #ConsumerDuty #accounting @MoneyhubApp

The Government is projected to collect £7.5bn from Inheritance Tax (IHT) this year, a 25% increase in just three years. buff.ly/4dC4sON. #IHT #tax #accounting

Analysis shows that HMRC last year hung up on 55,922 taxpayers after leaving them waiting on the phone for more than an hour. The tax authority will automatically hang up on callers once the wait time has exceeded 70 minutes. buff.ly/3WwfIFd #HMRC #accounting #tax

HMRC's annual report has revealed that fraud and errors in the R&D tax credits scheme have totalled more than £4bn since 2020 - with businesses encouraged by agents to claim tax credits for "research" including a new menu for a hotel and pub and the redesign of their websites.

Robert Lea in the Times notes that while most audits by BDO and Mazars were substandard, it's more surprising that 15% of audits by the Big Four (Deloitte, KPMG, PwC, and EY) also failed to meet standards. buff.ly/46x1QiB

The public sector #pension "Ponzi scheme" is expected to cost taxpayers trillions of pounds, according to senior economist Neil Record. The system, which is described as an "absolute scandal," has left the government with a £50bn annual gap to fill. buff.ly/3LxXWwo

Chancellor Rachel Reeves is urged to consider taxing pension pots, potentially raising £2bn annually. The Institute for Fiscal Studies (IFS) suggests removing #InheritanceTax exemptions on unspent cash in defined contribution funds. buff.ly/4dbRSoW #IFS #accounting

More than half a million people are paying up to 60% tax on some of their pay due to a quirk in the system. buff.ly/46hqvYH #tax #accounting