ACCA Archives - Page 168 of 189 - Whitefield Tax - Isle of Wight Accountants

GAAP: Accounting for investment properties

by Jessica Garbett | Mar 10, 2015 | ACCA, accountancy regulation, financial reporting

Analysis of how to treat investment properties under FRS 102. Current accounting treatment Under SSAP 19, investment properties are required to be included on the balance sheet at open market value and are not subject to depreciation. The changes in value should not...

GAAP: Small company limit increases in 2015 or 2016?

by Jessica Garbett | Mar 2, 2015 | ACCA, accountancy regulation, financial reporting

Should a company transition to FRS 102 this year, or wait until 2016? Entities qualifying as large or medium-sized under Companies Act 2006 will need to transition to FRS 102 The Financial Reporting Standard Applicable in the UK and the Republic of Ireland for...

HMRC sets out payroll penalties approach

by Jessica Garbett | Feb 28, 2015 | ACCA, business taxation, employer returns, HMRC, penalties

Employers that have received an in-year late filing penalty for the period 6 October 2014 to 5 January 2015 and were three days late or less should appeal online. HMRC has published an announcement about in-year PAYE filing and payment penalties on GOV.UK. It explains...

Understanding the Finance Bill 2015

by Jessica Garbett | Feb 24, 2015 | ACCA, budget, business taxation, capital taxation, HMRC, personal finance, personal taxatation, property taxation

A summary of the key provisions included in the Finance Bill 2015 and measures that have an immediate effect. Tax rates and allowances Personal tax 2015/16: personal allowance increased to £10,600 basic rate threshold increased to £31,785 capital gains tax annual...

New UK GAAP – an overview

by Jessica Garbett | Feb 23, 2015 | ACCA, accountancy regulation, financial reporting

2015 is the year that the old financial standards and guidance from the Financial Reporting Council are replaced by new UK GAAP. Accounts for periods beginning on or after 1 January 2015 must be prepared using the new Standards and the current FRSs, SSAPs, UITF...

VAT: partial exemption method using floor space

by Jessica Garbett | Feb 10, 2015 | ACCA, VAT

HMRC has issued Revenue & Customs Brief 35/2014: Lok.nStore Group PLC (LnS) decision on calculating deductible VAT. The decision was focused on the use of the Partial Exemption Special Method (PESM) and how fair and reasonable it was when compared to the standard...

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GAAP: Accounting for investment properties

GAAP: Small company limit increases in 2015 or 2016?

HMRC sets out payroll penalties approach

Understanding the Finance Bill 2015

New UK GAAP – an overview

VAT: partial exemption method using floor space

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