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CA Magazine

Every article from your latest print edition of CA Magazine

March 2009

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Out of India?

The sub-continent may lose out from changes to how VAT is charged on services supplied internationally – such as banks’ telephone call centres

Falling pound has unexpected consequences for non-doms

For non-UK domiciled individuals ("non-doms") currency movements could lead to an unexpected UK tax liability on foreign currency held offshore

Temporary reprieve for oversees employees

There’s good news from HMRC for overseas employees working in the UK who had faced a new and heavy tax burden

Is there an alternative to redundancies?

With ever-rising costs, the imposition of the national wage and the raft of employment legislation, not to mention uncertainty about future demand, labour costs often result in business laying people off

Planning can cut tax liabilities

Tax, in all its various forms, is often one of the biggest overheads in any business

Larkstar case to be re-heard

The High Court has ordered the General Commissioners to re-hear the Larkstar IR35 case after an appeal by HMRC, on the grounds that the General Commissioners misdirected themselves in law

Research benefits

The Government must resist the temptation to allow the much improved and user-friendly R&D tax credit to wither on the vine, as it is particularly valuable during a recession, according to the Confederation of British Industry

Time to plan ahead

Memories of January’s tax pressures may have faded, but Donald Drysdale says there is always plenty to consider before the next deadlines come around

Enhanced disclosure

Guidelines have been put out on topics including information flow to the audit committee and executive compensation

New look for IASB

Oversight body proposes more members and free access to core standards through website

APB issues guidance on the audit of credit unions in the UK

The Auditing Practices Board (APB) has published Practice Note (PN) 27 The audit of credit unions in the United Kingdom. A consultation draft was published for public comment during 2008

Hybrid instruments

The Accounting Standards Board (ASB) wants to clarify the treatment of embedded derivatives when an entity reclassi?es a hybrid financial asset out of the fair value through profit or loss category

Companies House on the move

The main Scottish business regulator is on the move

Sustainability framework for accountants

The Professional Accountants in Business committee of the International Federation of Accountants (IFAC) has developed a “Sustainability Framework”

Book Review

Practical Corporate Governance for Smaller Quoted Companies and Private Companies by John Mellor

Sustainability focus

Roger Adams introduces an initiative designed to help accountants lead business to a sustainable agenda

Waking up to a dawn raid

Various organisations can arrive unannounced at business premises and demand access to investigate possible breaches of the law. John Schmidt offers some advice on how to cope with inevitable disruption

Devising a new code

ICAS has commented on a consultation paper on the evolution of public reporting and good governance for accountancy firms

Questions of status

Christine Scott and Charlotte Barbour outline the issues raised by a consultation paper on changes in the law relating to unincorporated associations

Making money move faster

Regulations to implement the EU Payment Services Directive have been introduced by the UK Government. The directive is intended to speed up payments for individuals and businesses

When safety net becomes crucial to a pension fund

The Pension Protection Fund (PPF) has published guidance aimed at helping pension scheme trustees understand what they need to do when a scheme run by an insolvent employer is undergoing assessment