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CA Magazine

Every article from your latest print edition of CA Magazine

May 2010

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Europe: VAT changes hitting home

A number of important changes to the European Union VAT system took effect from 1 January 2010, and their impact is only now being felt

Restrictions on pension tax relief

Venture capital trust (VCT) and enterprise investment scheme (EIS) providers have experienced a surge of interest in their offerings as the Government’s restrictions on pension tax relief take effect

Cutting the pain of 50 per cent tax

Anyone with an income of more than £150,000 will now be waving goodbye to half their earnings – but there are ways to reduce your exposure to the highest rate of tax

Savour some pre-election giveways

March’s Budget was, as expected, a warm-up for the General Election. Despite the lack of apparent substance, there were several preelection giveaways which should be savoured before the post-election hangover of severe spending cuts and higher taxes in the years to come

Shedding light on residency issue

The Budget took us no closer to the long-awaited statutory residence test. However, the verdict in the recent appeal in the Gaines-Cooper case shed some light on UK residence status for those working overseas under a full-time contract of employment

No place for bribery

New legislation means it is more important than ever that organisations have effective anti-bribery measures in place

APB publishes draft antimoney laundering update

The Auditing Practices Board (APB) has issued an exposure draft of an update to Practice Note 12 (Revised), Money Laundering – Guidance for auditors in the United Kingdom

Scottish Government aims to cut the cost of red tape

The Scottish Government has brought in a new scheme of Business and Regulatory Impact Assessments (BRIA). The BRIA process aims to encourage policy makers to find solutions that best achieve their proposed policy objectives, while minimising costs and burdens

IAASB plans update on compilation engagements standard

The International Auditing and Assurance Standards Board (IAASB) is currently working on updating its standard on compilation engagements and plans to issue an exposure draft later this year to which ICAS will respond

Audit Inspection Unit's work plan for 2010/11 unveiled

The Professional Oversight Board, part of the Financial Reporting Council, has published a description of those entities whose audits will be deemed to be “major audits” for the purposes of audit inspections in the year from 1 April 2010 to 31 March 2011

New accounts preparation guidance issued

Revised accounts preparation guidance A Framework for the Preparation of Accounts (April 2010 version), has been issued by ICAS


The Consultative Committee of Accountancy Bodies has published a revised Statement of Recommended Practice (SORP) on accounting for Limited Liability Partnerships (LLPs)

Governance needs a level playing field

Measures to strengthen the engagement of institutional investors with the companies in which they hold a stake should not disadvantage UK-based entities

Waiting for the starting signal

Jim Boyle explains what the shift to international accounting from UK GAAP will mean for the thousands of businesses that will be affected

Busy doing nothing

Employers need to get it right when it comes to imposing ‘gardening leave’
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