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CA Magazine

Every article from your latest print edition of CA Magazine

October 2009

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End of the line for VAT refunds?

Scottish Court of Session ruling on HMRC dashes taxpayers’ hopes of historic claims being paid

Tax issues key to managing the costs of redundancy

For many businesses the biggest cost is their workforce and those looking to reduce costs may have to consider offering employees reduced working hours, sabbaticals, relocation or at worst, redundancy. Where the latter is the only option, getting the tax issues right should help manage the costs involved

HMRC sets tougher test for Fleming claims

Taxpayers with unsettled claims for overpaid VAT are set to face demands for yet more detailed information to HMRC before any repayment is forthcoming

Share schemes for top staff approved to 2018

The enterprise management incentive scheme (EMI), which aims to encourage share schemes targeted at key employees, has received European Commission approval through to 2018

New rules on supply of crossborder services

From 1 January 2010 a package of measures will be introduced that will affect all UK businesses that supply services to, or receive services from, overseas businesses

Mounting interest in new ruling on overpaid VAT

The UK Treasury is facing a potential bill in the billions following a ruling by Mr Justice Henderson in the High Court in May that compound interest is payable in principle on overpaid VAT

No hiding place

The latest amnesty being offered by HM Revenue and Customs to collect unpaid tax on billions of pounds tucked away in offshore bank accounts is the last chance for investors to come clean or face the consequences

Board defends 'fair value' to Obama

The oversight body of the International Accounting Standards Board (IASB) wrote to US president Barack Obama ahead of the G20 summit in Pittsburgh in September, to defend its stance on fair value accounting rules and to offer a progress report on the G20 objectives it was set in April

Common approach to online filing announced

One of the recommendations from Lord Carter's 2006 review of HM Revenue and Custom's online services was that HMRC and Companies House should work together to provide a joint return filing facility

New bill to allow legal services to grow

The Scottish Government has announced that it will introduce legislation to allow Scotland’s legal profession to grow and compete, by removing outdated restrictions on business models while protecting the core values of the profession

Amendment to FRS 20

The Accounting Standards Board (ASB) has published an amendment to FRS 20 (IFRS 2) ‘Share-Based Payment – Group Cash-settled Share-based Payment Transactions’

Challenge to position on financial instruments

Leading preparers, users and auditors at a meeting organised by the UK’s Accounting Standards Board (ASB) have challenged the position of the International Accounting Standards Board (IASB) on financial instruments

Amendment to UITF Abstract 42 and FRS 26

The Accounting Standards Board (ASB) has issued Amendments to UITF Abstract 42 (IFRIC 9) Reassessment of Embedded Derivatives and FRS 26 (IAS 39) Financial Instruments: Recognition and Measurement – Embedded Derivatives

High fliers hit training turbulence

Ongoing training is a must for many professionals, but without good tax planning, it can lead to unexpected costs for employees

How green is your office?

Landlords and tenants alike are set to bear the cost of the latest efforts to stem global warming

The power to cut down on red tape

A number of the provisions of the 2006 Companies Act take effect from October, including changes that affect the powers and duties of the companies registrar and procedures for ?ling at Companies House

Clear skies for going concerns?

Colin Gibson explains the current state of play regarding company and auditor reporting on going concern

Ticking the commentary box

Management Commentary is an increasingly important element in corporate reporting, so should it be subject to an auditor’s review? Ian Fraser and William Henry report on research that seeks to answer this

Portraying performance

Venancio Tauringana and Musa Mangena report on the findings of their study into how media businesses report on key performance indicators