The turnover threshold for ‘smaller entity’ financial reporting has increased
from £5.6m to £6.5m – a 20% rise – to reflect changes in the Companies Act 2006.
The threshold for reporting political and charitable donations has also
increased to £2,000.
The Accounting Standards Board, ASB, said its update of financial reporting
standard for smaller entities, FRSSE, was largely a ‘tidying-up’ exercise with
few substantive changes being made.
‘The use of the FRSSE is widespread amongst smaller entities; hence it is
that it is kept up to date and retains its usefulness as a ‘one stop shop’, I am
therefore pleased to announce publication of an updated version to reflect the
impact of the Companies Act 2006,’ said ASB chairman, Ian Mackintosh.
is available at the ASB’s website.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy
A senior MP has questioned the impact of HMRC’s decision to undertake yet another radical overhaul of its internal structure
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