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Image for ifrs 15 revenue recognition and performance obligations part 1

Finance | IFRS 15: revenue recognition and performance obligations - part 1

The new revenue recognition standard, IFRS 15 Revenue from Contracts with Customers, is proving to be expensive and disruptive for affected reporters. Companies need to take swift action to ensure they have comparative reporting on performance obligations in place for the effective date on 1 January 2018, reports Sarah Perrin ACA in the first of a series on IFRS 15
15 Jun 2017
Image for aqi 2017 ey criticised over audit completion procedures

| AQI 2017: EY criticised over audit completion procedures

The Financial Reporting Council (FRC) has raised concerns over EY’s audit completion procedures; auditing revenue; rigour in challenging management assumptions in goodwill and impairment; and the quality of written communications with audit committees, the regulator’s 2016/17 Audit Quality Inspections (AQIs) have found
15 Jun 2017

14 Jun 2017

Image for register tax limbo post election world

Tax | Register: tax limbo in a post-election world

In the days after the election and resulting hung parliament, tax issues will hardly be top of the agenda for the government, which will stoke uncertainty for tax advisers facing the impending introduction of Making Tax Digital and a raft of tax measures from loss relief to interest deduction only in draft form. Dawn Register, tax dispute resolution partner at BDO calls for swift action to create tax clarity for business
14 Jun 2017
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Tax | Tax avoidance: distributions, dividends and anti-phoenixing rules

In HMRC's ever growing arsenal of anti-avoidance measures, the targeted anti avoidance rule (TAAR) can only apply if the taxpayer is liquidating and not selling their business, explains Pete Miller, director of The Miller Partnership, but advisers and businesses need to make sure they understand the potential tax liability of capital distributions
14 Jun 2017

13 Jun 2017

Image for register beneficial ownership trusts who does it affect

Tax | Register of beneficial ownership of trusts: who does it affect?

The launch of a register of beneficial ownership of trusts from June 2017 will sweep up all UK trusts and non-UK trusts with UK tax liability, with only bare trusts excluded. Jason Collins, partner and head of tax investigation, and Paul Noble, tax director at Pinsent Masons examine how the system will work and provides tips on the extended HMRC notification process
13 Jun 2017
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