New UK GAAP – an overview

Make sure that you are ready for the new UK GAAP and understand the choices available to businesses.

Guidelines on enforcement measures against recognised supervisory bodies and recognised qualifying bodies

Comments from ACCA to the Financial Reporting Council.

The European Commission’s multi-stakeholder forum on corporate social responsibility

This article reports on the CSR forum hosted at the European Commission on 3-4 February 2015.

Revenue and Customs Brief 42 (2014): integration of claims in insolvencies

This brief aims to alert the insolvency profession to upcoming changes in how HMRC deals with the tax affairs of insolvent taxpayers.

Pension auto-enrolment - What practising accountants can and cannot do

Guidance on the level of work that ACCA members in practice are permitted to undertake for their clients regarding pension auto-enrolment, plus useful resources.

Consultation: penalties

HMRC has issued HMRC Penalties: a Discussion Document which is open for comment until 11 May.

Public sector reporting

The International Public Sector Accounting Standards Board has issued several new standards for public sector reporting.

Double taxation

This page brings together information on double tax treaties in force, along with details of recent changes.

Improving the structure of the code of ethics for professional accountants

Comments from ACCA to the International Ethics Standards Board for Accountants.

Charity tax

The Charity Commission has issued guidance for trustees considering tax arrangements.

Academies

Schools must publish the amount of grant received, how they spent it (or will spend it) and the impact on pupils’ PE (physical education) and sport participation and attainment.

Sustainable healthcare systems: an international study

This report reveals how well the existing healthcare systems in 11 countries are coping with the challenges of changing demographics and technological and economic change.

Regulatory fees and levies: policy proposals for 2015/16

Comments from ACCA to the Financial Conduct Authority.

European Commission proposal for a revised shareholder rights directive

This paper outlines ACCA’s key messages on shareholders rights in Europe and how they fit into the wider governance agenda.

Cybersecurity - fighting crime's enfant terrible

The purpose of this report is to review the cyber-threat landscape, to discuss cybersecurity and its future trends and areas of concern, and to highlight particular areas that are likely to have direct impact on the future of accountancy.

Cybersecurity - fighting crime's enfant terrible

The purpose of this report is to review the cyber-threat landscape, to discuss cybersecurity and its future trends and areas of concern, and to highlight particular areas that are likely to have direct impact on the future of accountancy.

Self Assessment Hints and Tips

This article pulls together various items from the Technical Advisory website which may prove useful in the run-up to the self assessment filing deadline.

Global economic conditions survey report: Q4, 2014

The 24th report of the quarterly ACCA–IMA survey.

The international project on lease accounting: the view from Europe

Following the issue of two Exposure Drafts on leasing by the IASB, deliberation continues on the contents of a revised IFRS. Peter Ujvari reports on a European outreach event intended to help progress this project.

Proportionate regulation: reporting accountant requirements

Comments from ACCA to the Solicitors Regulation Authority.

What is FATCA?

FATCA (Foreign Account Tax Compliance Act) is an American provision enacted in March 2010 and aimed at foreign financial institutions. It is part of a larger piece of legislation: Hiring Incentives to Restore Employment Act, designed to ensure that American citizens are fully disclosing their worldwide income to the US Internal Revenue Service.

Work of the Communities and Local Government Committee

Written evidence from ACCA for the Communities and Local Government Select Committee’s Inquiry.

Clamping down on tax avoidance

The Finance Act 2014 contains a number of measures to minimise tax avoidance.

Tax return white space

The tax return white space is the innocuous looking ‘any other information’ space at box 19 of the main SA100 tax return. It is more important than it looks, as the case of Charlton and Others v HMRC illustrates.

High income child benefit charge

The high income child benefit tax charge is a unique tax, in that it seeks to claw back a state benefit, namely child benefit through the self-assessment tax system.

VAT: businesses supplying digital services to private consumers

New guidance covering the recent changes to the place of supply of digital services from 1 January 2015 is available from the GOV.UK website. The services covered by the changes are digital services otherwise known as broadcasting, telecommunications and electronic services (BTE).

Accrued income scheme

Understanding the accrued income scheme.

Ten common tax elections and claims

How to make claims under common tax elections.

VAT: educational exemption for catering

HM Revenue & Customs (HMRC) have issued Revenue & Customs Brief 39/2014: VAT exemption for catering and other services linked to education.

Measuring quoted investments in subsidiaries, joint ventures and associates at fair value

Comments from ACCA to the International Accounting Standards Board (IASB).

Changes to rollover relief on incorporation from 3 December 2014

Until recently, it has been common for an individual incorporating his business to revalue the goodwill and hold over the relief. Finance Bill 2015 sets out to alter this.

Annual Allowance of Pension Contributions

A tax charge may arise to an individual if the amount saved in that individuals’ various pension schemes exceeds the annual allowance for that year.

Self-assessment tax return – HMRC useful links.

A list of most relevant HMRC links that includes:How to fill in your tax return, residence, remittance basis etc. notes,Capital gains summary notes, UK property notes, Additional information notes, and many more

VAT Update January 2015

VAT Notices Update January 2015

Engagement partners

International Education Standard 8, Professional Competence for Engagement Partners Responsible for Audits of Financial Statements (Revised) is aimed at IFAC bodies but should also be considered by firms and engagement partners.

Accounting for Complex Supplier Arrangements falls under FRC’s spotlight

The FRC has urged reporting entities to clarify the accounting treatment of complex supplier arrangements, which include supply chain finance and ‘pay to stay’ fees.

Reporting the financial effects of rate regulation

Comments from ACCA to the International Accounting Standards Board (IASB).

VAT: businesses supplying digital services to private consumers

New guidance covering the recent changes to the place of supply of digital services from 1 January 2015 is available from the GOV.UK website.

Changes to private residence nomination rules.

Finance Bill 2015 will introduce changes in the rules on the nomination of an individual's private residence; the practice commonly known as "flipping".

HMRC turn its attention to horsebox owners

Owners of high-end horseboxes are a new target for HMRC in their march against tax evasion.

Suspicious activity reports - immunity from civil liability

The Home Office has tabled an amendment to give protection from Civil liability to those who make a suspicious activity report in good faith.

Remuneration

The GC100 and Investor Group published a statement updating their guidance on the Directors' Remuneration Reporting Regulations 2013.

Investment entities

Investment Entities: Applying the Consolidation Exception (Amendments to IFRS 10, IFRS 12 and IAS 28) is a narrow-scope amendment to IFRS 10 Consolidated Financial Statements, IFRS 12 Disclosure of Interests in Other Entities and IAS 28 Investments in Associates and Joint Ventures.

Solicitors Tax Campaign

In this campaign solicitors have until 9 March to contact HMRC and tell them they want to bring their tax affairs up to date.

Scottish taxpayers

Residence for Scottish income tax purposes.

Gift Aid: which donations can charities and community amateur sports clubs (CASCs) claim relief on?

New HMRC publication outlines the types of payment that Gift Aid can and cannot be claimed on.

Tax inquiry closure: HMRC consultation

HMRC consultation Tax enquiries: closure rules proposes a change from the current joint taxpayer/HMRC referral to first tier tribunal by allowing HMRC a right of sole referral.

Contractors loan settlement opportunity

The opportunity to disclose loan settlements has been extended to 30 June with HMRC stating that any settlement “should be agreed by 30 September 2015 at the latest.

Draft Finance Bill 2015 published

The government has published the draft 2015 Finance Bill.

ACCA's public sector agenda for 2015

Gillian Fawcett, ACCA's head of public sector, describes ACCA's public sector agenda for 2015.