SMEs in the UK are soon to experience added complexities to the way they maintain their accounting records. The International Framework (IFRS), typically used by public or larger companies, has always been a complex accounting framework particularly with changes introduced in 2018. HMRC has now updated its guidance on the tax implications of changes to […]

Company re-registration is the process of changing a company’s status from one type to another, for example from a private (LTD) to a public (PLC) company or one.

Under the Companies Act 2006, all UK businesses must prepare their financial statements within the accounting standards framework set by the UK Generally Accepted Accounting Principles (UK GAAP) or International Financial Reporting Standards (IFRS). UK GAAP is broken down into FRS 102, FRS 102 section 1A, FRS 105, and FRS 101.

The latest edition of our Charities and Not for Profit eNews is now available to download.

Welcome to the latest edition of our International Charities Briefing

During 2023, HMRC issued a significant number of VAT assessments to businesses using social media influencers to advertise their products. These assessments were on the basis that products issued to influencers were not free of charge ‘gifts’ under the UK VAT provisions but were supplied in return for services provided by the influencer and should be subject to VAT – even if they were provided free of charge. In this article, we look at the VAT rules applying to such arrangements.

The latest edition of our Corporate and Private Client eNews is now available to download.

Why capitalise development costs? Development costs are a type of intangible asset which are generated through both internal and external activities. Often a key driver of value for a business, understanding the impact that capitalising or expensing development costs has on your financial statements, in current and future periods, is fundamental to any media, marketing […]