IESBA releases final code revisions to group audits
Read a roundup of recent developments affecting finance professionals, including an update from the UK Endorsement Board on IAS 12 reforms.
Read a roundup of recent developments affecting finance professionals, including an update from the UK Endorsement Board on IAS 12 reforms.
This roundup examines the UK government’s plan to support energy-intensive businesses and the IESBA’s exposure draft on tax planning.
UK Chancellor Jeremy Hunt announced help on business rates, including extended relief for retail, hospitality, and leisure businesses.
Jeremy Hunt says that, for now, the government will not proceed with previously announced plans to keep the corporate rate at 19% for some businesses.
The FRC reviewed company annual reports and identified opportunities for how companies can improve the quality of disclosures.
The UK government plans to provide relief measures, including raising National Insurance thresholds in line with income tax, as a relief to taxpayers in difficult economic times.
The OECD acknowledged that companies could continue to benefit from profit-shifting strategies already in place but expects companies to be unable to build up such tax shields in the future.
The Chancellor of the Exchequer Rishi Sunak announced an increase in public spending on R&D to £20 billion a year by 2024 and a total £3.8 billion increase in skills spending.
After years of difficult negotiations, an OECD-brokered deal to update international corporate tax rules has the support of all OECD countries and is closer to becoming reality.
Businesses with an income of more than £10,000 must use the new system from 2024, with simple partnerships joining in 2025.