Speaking at last night’s ICAEW dinner, European commissioner for internal markets, Frits Bolkestein hinted that a successful implementation of IAS could smooth the path to the creation of a common tax system in the EU.
‘I strongly believe that EU companies need a common consolidated tax base for their EU-wide activities,’ said Bolkestein. ‘Accounting and taxation are closely linked, and I therefore think it is well worth examining how these common accounting standards might help us create such a common tax base.’
He went on to describe the introduction of IAS in 2005 as ‘a golden opportunity’ to make progress towards such a common tax base.
Companies must report on their complex financial structures including offshore accounts and notify HMRC
An examination by the Public Accounts Committee (PAC) has revealed serious concerns relating to HMRC’s plans
Andrew Tyrie suggests there will not be enough time to implement Making Tax Digital (MTD) by April 2018
The ACCA has announced a partnership with UK research and development tax reclaim specialist RD Tax Solutions