2010

BIS: disclosure of directors’ remuneration

Comments from ACCA to the Department for Business, Innovation and Skills (BIS), 25 March 2013.

Budget 2013

ACCA have produced a Guide to the 2013 Budget.

GRI focused public consultation on the revised proposal for 'In Accordance' model in G4

Comments from ACCA to the Global Reporting Initiative, 19 March 2013.

IASB: recoverable amount disclosures for non-financial assets: proposed amendments to IAS 36

Exposure Draft ED/2013/1, issued by the International Accounting Standards Board (IASB). Comments from ACCA to the International Accounting Standards Board, 19 March 2013.

Capital gains tax and property: common pitfalls

To coincide with the launch of HMRC's property sales campaign, we take a look at capital gains tax and property.

Collecting small debts through PAYE

From April 2012 HMRC will be able to collect debts up to the value of £2999.99 by amending the tax code of individuals in PAYE employment or receiving a UK-based pension.

Changes to the taxation of UK property

A round-up of recent changes to the taxation of UK property.

BIS: Simpler financial reporting for micro-entities: the UK’s proposal to implement the ‘micros directive’

Comments from ACCA to the Department for Business Innovation & Skills, March 2013.

High-income child benefit charge - opting out

Elections not to receive child benefit for higher rate taxpayers will need to be considered soon for 2013/14

Property sales campaign

HMRC campaign looking into the sale of property

Classification and measurement: limited amendments to IFRS9

Comments from ACCA to the International Accounting Standards Board, March 2013.

Have investors benefitted from China's IFRS Convergence?

This short paper summarises and puts into context the findings of ACCA's 2013 research report on IFRS convergence in China.

Stepping up the fight against money laundering in Jamaica

ACCA, March 2013. Following encouragement by the international authorities, Jamaica is now increasing its controls to combat money laundering and is boosting its domestic law enforcement and recovery procedures. This report summarises a day-long conference held in Kingston in February 2013 to review where Jamaica currently stands on these issues and to test its state of readiness to go further.

FRC: auditor regulatory sanctions procedure

Comments from ACCA to the Financial Reporting Council (FRC), 1 March 2013.

Accountants for small businesses

ACCA, March 2013. Accountants for Small Business is a campaign aiming to raise awareness of the value of professional accountants in SMEs. This report is the centrepiece of the campaign, which will build partnerships between ACCA and business associations, government agencies, and service providers in order to provide practical resources and support for SMEs investing in internal finance functions.

Building your financial capabilities: a guide for growing businesses

This guide is an essential tool for setting up and managing good financial management practices for small businesses. It outlines the systems and tools needed by the start up business, and continues through to the needs of the growing business developing more sophisticated financial capabilities.

Protecting stakeholder interests in SME companies

John Davies, March 2013. This report discusses how four different countries – the UK, the US, Australia and Singapore – see the role of accounting information in protecting third-party interests in SME companies.

Accounting and long-tail liabilities: the case of asbestos

ACCA research report 130, by L. Moerman and S. van der Laan.

Going concern consultation

The FRC has circulated, for consultation, guidance for directors, and related standards for auditors

Business record checks

HMRC business record checks are revived from 1 November 2012.

Child benefit tax charge

The child benefit charge on ‘high income’ families comes into effect for 2012/13, but only applies from 7 January, 2013.

Gaming duty

HMRC has updated and issued Notice 452 Machine Games Duty

HMRC v Pawson

HMRC v Pawson: no business relief on furnished holiday letting

Import VAT relief

HM Revenue & Customs have recently updated their VAT Notice on Import VAT relief for goods supplied onward to another EC county, VAT Notice 702/7

Finance notice 701/49

HM Revenue & Customs has recently updated its VAT Notice on Finance, Notice 701/49

VAT Notice 701/21 on gold

HMRC has updated its VAT Notice 701/21 on gold

Retail

HM Revenue & Customs have recently updated their VAT Notice on Retail Schemes, VAT Notice 727/5.

Tax treaties

Details of new tax treaties.

IASB: Annual improvements to IFRSs: 2011-2013 Cycle

Exposure Draft ED/2012/2, issued by the International Accounting Standards Board (IASB). Comments from ACCA to the International Accounting Standards Board, 18 February 2013.

IHT - Situs of debts

HMRC has updated its Inheritance Tax Manual regarding situs of debts.

Pension schemes

HMRC has issued Notice 700/17: funded Pension schemes. It provides guidance for employers and trustees on claiming input tax on funded pension scheme expenditure.

Companies limited by guarantee

Often a source of confusion, this guide to what constitutes a company limited by guarantee should help.

Universal credits

Universal credit is likely to have a significant impact on small businesses.

Capital allowances - fixed structures

HMRC have issued Revenue & Customs Brief 32/12: Plant and Machinery Allowances: polytunnels.

Transfer of a business as a going concern (TOGC)

VAT Notice 700/9 Transfer of a business as a going concern is effective now and replaces the April 2008 edition of the notice.

Natural capital: what do accountants think?

This paper highlights and extends the key findings of an ACCA member survey, previously summarised in ‘Is Natural Capital a Material Issue?’.

High income child benefit charge

What the changes to child benefit will mean for your clients

Special relief (formerly equitable liability)

Understand the concept of ‘special relief’, formerly known as ‘equitable liability’.

VAT and the transfer of a Going Concern

HMRC issues Brief 30/12 following Tribunal decision.

Advice for Santander customers paying tax via its Bill Pay service

HMRC has informed us that Santander is having temporary problems with its Bill Pay service.

Drivers of change in the UK

Faye Chua, February 2013. This report outlines the UK-relevant findings from a global survey conducted in 2012 by ACCA and IMA across their membership on drivers of change for the accountancy profession. It presents the UK’s key drivers of change in the short, medium and long term for a variety of businesses. By identifying and exploring emerging trends, it can help accountants and business leaders prepare for an uncertain tomorrow.

Drivers of change in Asia-Pacific

Faye Chua, February 2013. This report outlines the Asia-Pacific-relevant findings from a global survey conducted in 2012 by ACCA and IMA across their membership on drivers of change for the accountancy profession. It presents Asia-Pacific’s key drivers of change in the short, medium and long term for a variety of businesses. By identifying and exploring emerging trends, it can help accountants and business leaders prepare for an uncertain tomorrow.

Drivers of change in the US

Faye Chua, February 2013. This report outlines the US-relevant findings from a global survey conducted in 2012 by ACCA and IMA across their membership on drivers of change for the accountancy profession. It presents the US’s key drivers of change in the short, medium and long term for a variety of businesses. By identifying and exploring emerging trends, it can help accountants and business leaders prepare for an uncertain tomorrow.

Drivers of change: global perspective

Faye Chua, February 2013. This report outlines the main findings of a survey recently conducted by ACCA and IMA across their membership on 100 drivers of change for the global accountancy profession. It presents the three critical drivers of change in the short, the medium and the long term for a variety of businesses. By identifying and exploring emerging trends, it can help accountants and business leaders prepare for an uncertain tomorrow.

Does IFRS convergence affect financial reporting quality in China?

ACCA research report 131, by E. Lee, M. Walker and C. Zeng.

Setting high professional standards for public services around the world

This paper sets out ACCA’s policy positions on a range of themes for public services for members, employers and a wide range of external stakeholders with an interest in public services.

Vouchers

This short article looks at the circumstances in which vouchers are classed as a taxable benefit.

Van benefits

Where an employee is provided with a van and this is available for private use, there is a fixed benefit of £3,000...

Travelling and subsistence

HMRC Booklet 490 is an excellent guide, explaining the extended reliefs relating to travelling and associated expenses.

Compensation for loss of office

Broadly speaking, benefits in kind are calculated at their ‘cash-equivalent value’ which is defined as the ‘expense incurred in or in connection with provision of the benefit’, inclusive of VAT.