AS2013: Lack of detail means the fun's in the Finance Bill

by Kevin Reed

More from this author

05 Dec 2013

  • Comments
George Osborne

THE DEVIL is in the detail. A hackneyed phrase, and one I'm personally sick of. But it seems to bounce around the head on Budget or Autumn Statement days. And today was weary and unexceptional.

As has already been pointed out, chancellor Osborne's statement was amazing for saying so little and taking so long - particularly as so much had been trailed already.

But he still has a bit of the Gordon Brown about him - burying important issues within the Budget book's leaves, and omitting key details from the plans. For Accountancy Age most of the fun, relatively speaking of course, came from concerns about how the partnership/LLP anti-avoidance plans will work, and how HMRC will manage new powers where ‘adversaries' have to pay up until a tax dispute is resolved. Perusal of the Finance Bill is going to be very important - a bit like the good-old bad old days.

The various business rate reliefs and discounts were welcome, but again it's a question of how to educate these budding entrepreneurs about the various, complex, stimuli they are being afforded.

The overall impression was that of an underwhelming effort - but then don't we want these events to be like that sometimes? Maybe the detail, in the form of the draft legislation, will tell us otherwise.

Kevin Reed is the editor of Accountancy Age and Financial Director

Visitor comments

blog comments powered by Disqus
display:none

Add your comment

We won't publish your address


By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

Submit
  • Send
HM Revenue & Customs

Head Of Financial Control

HM Revenue & Customs, Telford, Full Time, Permanent/p>

 

Newsletters

Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials

Careers

Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you

Briefings

budget-management

Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.

cchcover

iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.