Gillian Wild Tax Director at PricewaterhouseCoopers discusses the implications of the announcement in the PBR that accounts based on IFRS should be accepted as a starting point for UK corporation tax
In the Pre-Budget Report the Inland Revenue announced that accounts based on International Financial Reporting Standards (IFRS) would be accepted as a starting point for UK corporation tax. This announcement followed that of the DTI in July 2003 that all British companies — not just those listed groups already required to — would be eligible to use IFRS in place of UK accounting standards in their accounts from January 2005.
Enough time to choose?
British companies are now faced with the dilemma of choosing which accounting...
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Gillian Wild Tax Director at PricewaterhouseCoopers discusses the implications of the announcement in the PBR that accounts based on IFRS should be accepted as a starting point for UK corporation tax
In the Pre-Budget Report the Inland Revenue announced that accounts based on International Financial Reporting Standards (IFRS) would be accepted as a starting point for UK corporation tax. This announcement followed that of the DTI in July 2003 that all British companies — not just those listed groups already required to — would be eligible to use IFRS in place of UK accounting standards in their accounts from January 2005.
Enough time to choose?
British companies are now faced with the dilemma of choosing which accounting...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
