Technical Updates

Technical updates

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technical updates

In-depth analysis of the issues facing our private clients, entrepreneurs and their businesses.

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06 February 2016

French Tax Data Card 2016

Please download the pdf to view the French Tax Data Card 2016.
Tax data card Technical updates
01 February 2016

IFRS 16 – New Lease Accounting Standard

The International Accounting Standards Board has issued a new accounting standard on leases, IFRS 16.  The main change introduced by the standard is that all leases will be brought onto the balance sheet, increasing the visibility of companies’ assets and liabilities.  The new standard is effective for accounting periods commencing on or after1 January 2019…
Accounting Technical updates
31 January 2016

VAT Update January 2016

ADECCO UK LTD V HMRC FTT: TC 04743  This case was brought to appeal a decision by HMRC to reject an application for repayment of VAT charged on the supply of staff. The application had been made following the decision in another First Tier Tribunal (FTT) case brought by Reed employment in 2011 (TC 01069).  Adecco supplies temporary staff to clients. The agency…
VAT Technical updates
03 December 2015

Autumn Statement 2015

Note: This update was written on 3 December 2015. It is based on the government’s proposals at that point in time which don’t necessarily represent the final legislation. For that reason, no action should be taken based on this update without taking further advice.  
Budget update Technical updates
19 November 2015

FRS 102 - The Tax Implications

The requirement to prepare accounts under FRS 102 may give rise to unexpected tax consequences. The move could result in one off adjustments to taxable profits and also have an impact going forward.   
Accounting Business taxes Technical updates
31 October 2015

VAT Update October 2015

CASE 1 Copthorn Holdings Ltd v HMRC FTT: TC 04585  Copthorn Holdings Ltd (“Copthorn”) operates a business model whereby it acquires land for housing development which it subsequently sells to subsidiary “special purpose vehicles” (“SPVs”).  Copthorn is a member of a VAT group meaning that any supplies it makes to SPVs also within the VAT group are…
VAT Technical updates
06 September 2015

UK Tax Data Card 2015/16

Please download the pdf to view the UK Tax Data Card 2015/16.
Tax data card Technical updates
31 July 2015

VAT Update July 2015

A PARTNERSHIP V HMRC FTT: TC04358  This case is a useful reminder that the recovery of input VAT is driven by underlying contractual arrangements.  The partners were in dispute and took advice separately, from different firms of solicitors, regarding issues concerning an outgoing partner. The solicitors duly invoiced various partners and groups of partners…
VAT Technical updates
23 July 2015

Cross-Border VAT Changes from 1 January 2015

Fundamental changes to the way VAT is accounted for first took hold on 1 January 2010 when the first and most significant of changes collectively known as the “VAT package” came into force. These changes will now be a matter of routine for all who deal regularly with cross-border VAT issues. In recent years additional changes have come into force…
VAT Technical updates
23 July 2015

Summer Budget 2015 Update

Note: This update was written on 23 July 2015. It is based on the government’s proposals at that point in time which don’t necessarily represent the final legislation. For that reason, no action should be taken based on this update without taking further advice.
Budget update Technical updates
30 March 2015

2015 Budget Update

Note: This update was written on 30 March 2015. It is based on the government’s proposals at that point in time which don’t necessarily  represent the final legislation. For that reason, no action should be taken based on this update without taking further advice.
Budget update Technical updates
20 March 2015

New Charity SORPS

Non-company charities with annual gross income of £250,000 or more and all charitable companies must prepare an annual report and accounts in accordance with the Statement of Recommended Practice (SORP). For accounting periods commencing on or after 1 January 2015, the old SORP issued in 2005 is replaced by two new SORPs: the SORP (FRSSE) for small…
Charity Technical updates