Tax First - October 2009 |
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October 2009
In this issue we examine how banks should respond to HM Revenue & Customs’ (HMRC) disclosure notices. HMRC is currently accepting disclosures regarding offshore assets, including bank accounts, and is keen to increase the scope of its enquiries into such accounts.
We provide information on the UK Accounting Standards Board’s (ASB) consultation document which proposes replacing UK GAAP with 'IFRS for small and medium-sized entities’ by 2012.
We outline the ideas behind the ‘Managing tomorrow's people: How the downturn will change the future of work’ from our Human Resource Services practice, with a link to the full report on our global site.
Updated guidance for companies making ‘Fleming’ VAT claims has recently been published. The document contains detailed outlines of the grounds on which HMRC may seek to challenge estimated claims. You can read more in the indirect tax section, where we also examine the new ‘e-filing’ procedures.
The major requirements of the Senior Accounting Officer legislation are also highlighted in this issue.
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