Essentials - March 2005

The March edition of our regular Essentials newsletter contains accounting, tax and legal updates summarised and explained, as well as a finance director's calendar of upcoming dates and deadlines.

Accounting updates include:

• Accounting implications of Pensions Act
  
• Operating and Financial Review (OFR) regulations laid before Parliament
  
• FRS 25 and FRS 26 - questions and answers
  

Direct tax updates include:

• UK Budget 2005: Just a housekeeping exercise?
  
• New guidance on tips, gratuities, service charges and troncs
  
• Inland Revenue (IR) confirms transfer pricing impact of share plans
  

Indirect tax updates include:

• VAT recovery on issue of shares
  
• Advocate General rejects 'carousel fraud' argument
  
• Importance of documentary evidence
  

Legal updates include:

• The continuing evolution of directors' liabilities
  
• Treating 'with-profits' policyholders fairly
• By clicking the download below you can access a printable copy of this publication.