2010

The dawn of the new UK GAAP – requirements and options

The era of the new UK GAAP begins on 1 January 2015 and for many will change again from 1 January 2016. Reporting entities have to choose which of the reporting standards that they are allowed to adopt is best suited to their circumstances.

THE DAWN OF THE NEW UK GAAP – REQUIREMENTS AND OPTIONS

Find out what you need to know about the transition to the new UK GAAP here.

ACCA response to HKSE consultation Disclosure of Financial Information

Review of Listing Rules on Disclosure of Financial Information with reference to the new Companies Ordinance and Hong Kong Financial Reporting Standards and proposed Minor / Housekeeping Rule Amendments. Consultation issued by the Hong Kong Stock Exchange

Offshore tax evasion

The government continues its crackdown on those seeking to illegally evade their UK tax liability by using offshore tax shelters.

Office of Tax Simplification report on the competitiveness of the UK’s tax administration

The OTS has published the final report on its review of the competitiveness of UK tax administration, making 50 recommendations for improvements.

Strengthening the tax avoidance disclosure regimes

Comments from ACCA to HM Revenue & Customs.

The changing landscape around tax avoidance

How accountants can guard against claims from clients surrounding tax avoidance issues. [Simon Mason - Partner in DWF Fishburns]

Implementation of the EU Accounting Directive – your views count

ACCA seeks your views on two aspects surrounding the implementation of the EU Accounting Directive.

HMRC Agent Online Self Service Strategy Update

Throughout the summer the Agent Online Self Serve (AOSS) project team has been conducting interviews with agents to inform the initial design and development of an alpha prototype. Here’s an update on this work and our progress with the developing Agents Strategy.

Inheritance Tax: a new Act

The Inheritance Tax and Trustees’ Powers Act 2014 came into force on 1 October 2014.

Who accounts for social mobility? Is enough being done?

This report reviews the findings from a recent ACCA survey, which aimed to establish social mobility trends among our students and members.

FRS 101: guidance

1st January 2015 is now only a few weeks away, and after all the months and months of talking about it, UK GAAP will finally change.

Experts - errors in accounts

In a recent case, the opinion of an expert accountant was overturned because the opinion was based on past accounting errors.

Pension Schemes, Relaxing of the Rules

Pension “death tax” to be abolished.

Back in the game: global SME performance review 2013/14

This report reviews the performance of SMEs around the world during 2013/14. It is the second ACCA–IMA global SME performance review and compares SME performance with findings from the first review.

VAT Notices - September 2014

A summary of the VAT Notices in force as at September 2014.

Employee benefits trusts - settlement opportunity

HMRC has announced that the settlement opportunity will close for applications on 31 March 2015, with settlements to be finalised and payments made by 31 July 2015.

Tax return reminder - travel costs

A reminder of the effects of the Samadian case on travelling costs.

Tax return reminder - Fees and Subscriptions

What fees and subscriptions are allowable for an employee for tax purposes?

VAT Update - November 2014

A round-up of the latest changes to VAT notices and briefings.

Autumn Statement

The Autumn Statement will take place on Wednesday 3 December 2014.

Corporate Governance Code

The new Code has been published and applies to accounting periods beginning on or after 1 October 2014 for all companies with a premium listing of equity shares regardless of whether they are incorporated in the UK or elsewhere.

VAT changes around the EU

The latest changes to VAT rates from countries within the European Union.

HMRC withdraws concession on remittance basis

In August changes took effect around how money brought into the UK or used in the UK under a loan facility secured by foreign income or gains is treated.

Offshore loan schemes

Offshore loan schemes used by contractors are under attack by HMRC, following the successful outcome for HMRC in the case of Philip Boyle v HMRC at the First-Tier Tribunal.

Jointly owned property and form 17

Guidance on how and when to use form 17 with regards to jointly owned property.

Transfer of a going concern

HMRC has had a change of policy following the First Tier Tribunal (FTT) decision in Robinson Family Ltd [2012] UKFTT 360 (TC). The changes are three-fold and are discussed here policy change by policy change.

ACCA welcomes proposed new accounting rules for pensions

Statement of Recommended Practice will bring clarity, but lobbying of DWP is important in achieving this.

Simplifying and streamlining statutory annual report and accounts

Comments from ACCA to HM Treasury.

Solicitors Account Rule Changes – an update

In the main the SRA will continue to require accountants reports to be prepared but will ONLY require Solicitors to submit qualified accountants reports with them.

Natural capital comes of age

As pressure grows on our resources, companies must learn how to manage, measure, report and disclose on natural capital.

Maintaining momentum

While South Africa has blazed a trail on integrated reporting, there is still much work to be done.

Taking stock of sustainability

Africa’s stock exchanges have a vital role to play in helping listed companies get to grips with reporting on environmental, social and governance issues.

Taking water into account

Water security must get on the board’s agenda – with accountants playing a critical role as ‘awareness experts’, say Roger Burritt and Katherine Christ.

Reforming Local Government

Comments from ACCA Cymru/Wales to the Welsh Government.

Governance in the public sector

In this video presentation, Gillian Fawcett, head of public sector, reflects on the role of ‘good governance’ in public services.

Construction Industry Scheme consultation

A Summer consultation is on the way which will consider ways to improve the CIS scheme.

Enhanced capital allowances increases: green technology

New legislation will extend the list of energy-saving and environmentally beneficial technologies and products that benefit from enhanced capital allowances.

Business premises renovations allowance

The Finance Act 2014 will clarify the scope of Business Premises Renovation Allowance.

Annual investment allowance increased to £500,000

Temporary increase sees AIA double to £500,000.

Public sector: other entities reporting

The International Public Sector Accounting Standards Board (IPSASB) have issued for comment a consultation called The Applicability of IPSASs to Government Business Enterprises and Other Public Sector Entities. They have asked for comments by 31 December.

Tax Evasion and Avoidance

Three new consultations have been launched on the subject of tax evasion.

Transfer pricing documentation

Comments from ACCA to the Inland Revenue Authority of Singapore (IRAS).

New UK GAAP: All change - Consultation

Your view is needed as changes being proposed may increase costs and create confusion for your business and also your providers of finance.

FRS 102: Pensions

FRED 55 proposes amendments to accounting for pension obligations under FRS102 and is open for comment until 21 November 2014.

2014 Autumn Statement

The Autumn Statement will take place on Wednesday 3 December 2014.

Towards better diversity management

This paper discusses the limitations of current diversity management and at what could be done to help organisations benefit from greater diversity and inclusive cultures.

The business case for diversity management

This joint ACCA–ESRC report investigates the limitations of current diversity management and what could be done to help organisations benefit from greater diversity and inclusive cultures.

Whole of government accounts: who is using them?

The first stage of a two-part study exploring whether transparency is currently being achieved and whether essential user information needs are being met.

Intermediaries and workers

Updates have been issued on when an intermediary must treat a worker they provide to a UK-based client as an employee for Income Tax and National Insurance purposes.