HMRC has published a new paper providing an overview of the key accounting changes and tax considerations that arise for those individuals, partnerships and non-resident companies within the charge to income tax who move from old UK GAAP to FRS 102.
HMRC has published a new paper providing an overview of the key accounting changes and tax considerations that arise for those individuals, partnerships and non-resident companies within the charge to income tax who move from old UK GAAP to FRS 102.
FRS 102 contains the revised set of accounting standards comprising new UK GAAP, which many UK businesses will be required to adopt for accounting periods commencing on or after 1 January 2015.
The income tax paper is split into 2 parts:
a comparison of accounting and tax differences that arise between old UK GAAP and FRS 102; and
a summary of accounting and tax considerations that arise on transition from old UK GAAP to FRS 102.
HMRC has previously published two separate papers setting out the tax implications of moving to the new standards for companies within corporation tax.
HMRC has published a new paper providing an overview of the key accounting changes and tax considerations that arise for those individuals, partnerships and non-resident companies within the charge to income tax who move from old UK GAAP to FRS 102.
HMRC has published a new paper providing an overview of the key accounting changes and tax considerations that arise for those individuals, partnerships and non-resident companies within the charge to income tax who move from old UK GAAP to FRS 102.
FRS 102 contains the revised set of accounting standards comprising new UK GAAP, which many UK businesses will be required to adopt for accounting periods commencing on or after 1 January 2015.
The income tax paper is split into 2 parts:
a comparison of accounting and tax differences that arise between old UK GAAP and FRS 102; and
a summary of accounting and tax considerations that arise on transition from old UK GAAP to FRS 102.
HMRC has previously published two separate papers setting out the tax implications of moving to the new standards for companies within corporation tax.
