FRS 102: tax implications for financial statements

The transition to FRS 102 accounting from old UK GAAP needs careful consideration to avoid contravening tax rules, warns Steve Collings, audit and technical partner at Leavitt Walmsley Associates

Financial reporting in the UK and Republic of Ireland is currently going through one of the most significant changes in a generation and many accountants are now trying to get to grips with the detailed intricacies of the new regime.

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