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Friday, May 04, 2012
The April 2012 IFRS for SMEs Update has been published. The IFRS for SMEs Update is a staff update about news relating to the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs). Latest updates are available from http://www.ifrs.org website. &n.....
Friday, May 04, 2012
The 2012 CHARIOT DVD is now available to purchase by Members or Students. You do not need broadband access to use the DVD version of CHARIOT and therefore the DVD can be utilised on any personal computer/laptop at any location. It contains a wealth of useful technical material. Among CHARIOT's vast.....
Friday, May 04, 2012
The International Accounting Standards Board (IASB) has published for public comment an exposure draft of proposed amendments to eleven International Financial Reporting Standards (IFRSs) under its annual improvements project. The project provides a streamlined process for dealing efficiently with .....
Monday, April 30, 2012
The 1st of May is somewhat unusual day for tax increases, however, as announced in Budget 2012, with effect from tomorrow, the carbon tax on home heating fuels and natural gas, will be increased by €5 to €20 per tonne of CO2 emitted on fossil fuels. Members will recall that the carbon tax inc.....
Monday, April 30, 2012
The European Commission has formally asked Bulgaria to apply VAT to the activities of public bailiffs. Under national law in Bulgaria, only the activities of private bailiffs are subject to VAT while the activities of state bailiffs such as staff of the regional courts is not subject to VAT. &.....
Monday, April 30, 2012
The European Commission has formally requested Spain to modify its rules on excise duties to bring them into line with EU legislation. Under EU rules, all movement of excise goods under duty suspension within the EU must be accompanied by an electronic administrative document giving details about t.....
Monday, April 30, 2012
The European Commission has formally requested Belgium to remove what it calls, discriminatory provisions in its inheritance tax laws and company tax laws. Brussels and Walloon tax laws on inheritances of shares allows for a choice between several share prices to determine the taxable value for inh.....
Monday, April 30, 2012
The OECD’s annual publication “Taxing Wages” says that the average tax and social security burden on employment income has increased in 26 out of 34 OECD countries in 2011. Taxpayers in Ireland, Luxembourg, Portugal and the Slovak Republic were among those hit with the largest increases while taxpa.....
Monday, April 30, 2012
The bi-monthly round up of the latest developments in tax, HMRC service and consultations for accountants and tax professionals is now available. In this edition HMRC features the latest news on a number of consultation and discussion documents, in addition to Budget 2012 updates and the most up to.....
Monday, April 30, 2012
At Budget 2012 it was announced that the rules for VAT on road fuel and inviting historic claims in certain circumstances are to be revised. Following that announcement, HMRC has now issued a Technical Note on the planned changes. HMRC advise that the proposed changes to the RFSC regime outli.....
Monday, April 30, 2012
At the recent HMRC seminars, there was some evidence that members are not familiar with HMRC’s online toolkits. Covered on a number of occasions by Chartered Accountants Tax News, the Toolkits have been developed by HMRC with the intention of helping reduce common errors when completing returns. HM.....
Monday, April 30, 2012
HMRC advise that applications for ADR can now be made online. ADR is intended to provide SMEs with an alternative way of resolving tax disputes in compliance checks by using an independent facilitator. Their role is to facilitate discussions between the SME and caseworker to resolve the dispute. Th.....
Monday, April 30, 2012
HMRC’s Agent Account Manager (AAMs) Service, based upon feedback at the recent HMRC seminars, would appear to be underutilised. This is a UK-wide team which HMRC have set up with a specific aim of helping tax agents and advisers deal with the department more effectively. Covered on a number of occa.....
Monday, April 30, 2012
HMRC have provided an update on the problem experienced by their Dundee office dealing with Corporation Tax. They advise that telephone capabilities are beginning to return and believe they have over 80% capacity working at present. If members are continuing to have difficulty getting in contact pl.....
Monday, April 30, 2012
Have you got yours yet? The updated version of this popular tax toolkit is designed to help you streamline your procedures and assist you in asking the right questions to capture essential details for 2011 Personal Tax and Corporation Tax returns in the Republic of Ireland. And all for just €70.....
Monday, April 30, 2012
Revenue have advised us at a recent meeting of the TALC Audit subcommittee that they have written to the Irish Dental Association stating that from 1 January 2012 all dental workers who in Revenue’s view are employees must have PAYE operated on their payments. We have requested a copy of extr.....
Monday, April 30, 2012
By far the most remarkable aspect of the Revenue Annual Report for 2011 was just how much tax was actually collected. 2011 was a year of severe test for the integrity of the tax system. The budget for 2011 saw the introduction of the Universal Social Charge and the biggest increases in the ta.....
Friday, April 27, 2012
The European Commission has formally requested Belgium to remove what it calls, discriminatory provisions in its inheritance tax laws and company tax laws. Brussels and Walloon tax laws on inheritances of shares allows for a choice between several share prices to determine the taxable value .....
Friday, April 27, 2012
HMRC’s Agent Account Manager (AAMs) Service, based upon feedback at last week’s seminars, would appear to be underutilised. This is a UK-wide team which HMRC have set up with a specific aim of helping tax agents and advisers deal with the department more effectively. Covered on a number of occasion.....
Friday, April 27, 2012
By far the most remarkable aspect of the Revenue Annual Report for 2011 was just how much tax was actually collected. 2011 was a year of severe test for the integrity of the tax system. The budget for 2011 saw the introduction of the Universal Social Charge and the biggest increases in.....
Friday, April 27, 2012
This easy-to-use guide to the complexities of insolvency in Ireland for business managers, accountants, and other professionals is available for your iPad in the iBookstore and for your Kobo eReader from KoboBooks. The various types of insolvency are explained in easy-to-understand terms along with.....
Friday, April 27, 2012
The Financial Action Task Force (FATF) is an inter-governmental body whose purpose is the development and promotion of policies, both at national and international levels, to combat money laundering and terrorist financing. The Task Force is therefore a "policy-making body" which works to gen.....
Thursday, April 26, 2012
An option for customers to incorporate a company and register for Corporation Tax, developed jointly by Companies House and HMRC, in one process has now been introduced in the UK. For more details, please click here. .....
Thursday, April 26, 2012
Hector Sants, chief executive of the Financial Services Authority (FSA) delivered a speech today in which he reviewed the progress of regulatory reforms since the financial crisis and, in particular, focused on how more action is needed to deliver effective corporate governance. To read the text of.....
Thursday, April 26, 2012
The Office of the Director of Corporate Enforcement has recently updated the detailed Company Law Handbook on Residential Property Owners' Management Companies. To access the updated guidance please click here. .....
Thursday, April 26, 2012
The International Accounting Standards Board has issued the April edition of its Update publication. To access this and earlier editions of Update, please click here.....
Monday, April 23, 2012
In response to a recent call from the G-20, the IASB and the FASB have provided a progress report on their convergence activities, for consideration at the April 2012 meeting of G20 Finance Ministers and Central Bank Governors. The G-20 Declaration also called for the completion of the governance a.....
Monday, April 23, 2012
A majority of MEPs have voted against the European Commission’s proposal to reform the energy taxation system during the European Parliament’s plenary session in Strasbourg on 19 April. This involved rejecting the Commission’s proposal to increase the rate of tax on diesel to bring it in line with .....
Monday, April 23, 2012
The use of a common consolidated corporate tax base (CCCTB) should be mandatory according to the European Parliament when outlining its position on legislation proposed by the Commission in a vote held on 19 April. The Commission had proposed a voluntary scheme. In the Parliament’s amendment to the.....
Monday, April 23, 2012
Have you got yours yet? The updated version of this popular tax toolkit is designed to help you streamline your procedures and assist you in asking the right questions to capture essential details for 2011 Personal Tax and Corporation Tax returns in the Republic of Ireland. And all for just €70! Fi.....
Monday, April 23, 2012
The April issue of tax.point; Chartered Accountants Ireland’s monthly tax bulletin for tax professionals and accountants is now available. In this month’s issue Leontia Doran reviews the measures introduced in the UK Budget 2012 and what they mean for businesses. Considering the proposal by the Min.....
Monday, April 23, 2012
Revenue have published a VAT Information Leaflet which sets out details on the VAT treatment of education and vocational training or retraining provided by institutions, organisations, or companies both in the state and private sectors. The leaflet is published on the Revenue website at: Taxes &.....
Monday, April 23, 2012
Revenue have issued eBrief No. 23/12 and an update to their VAT Manual to clarify that bread subject to the zero rate includes sliced pans, bread rolls, batch bread, baps, naan bread and pita bread, provided they comply with the definition of bread. Bread products such as brioche and croissants are.....
Monday, April 23, 2012
Chartered Accountants Ireland, as a member of CCAB-I, has responded to the Revenue consultation on iXBRL. While CCAB-I is not hostile to technological developments, we have to take some warning from the experience in the UK, where the use of iXBRL has been mandatory for some time. In the UK, it has.....
Monday, April 23, 2012
HMRC announced last week that it has been working with the IT software development industry to facilitate the provision of simple mobile record keeping applications for small businesses and the self-employed who are below the VAT threshold. The first of these applications are available now. These a.....
Monday, April 23, 2012
The closing date for responses to the consultation, ‘VAT: addressing borderline anomalies’ has been extended to 18 May 2012. This consultation was launched last month after Budget 2012 in which the Chancellor announced he was extending VAT to a range of ‘anomalies’ identified in the UK’s VAT system.....
Monday, April 23, 2012
A joint HMRC/HM Treasury press release has now provided more, but still limited, detail on the announcement at Budget 2012 that a cap is to be placed on unlimited tax reliefs. The proposal is to set the cap at £50,000 or 25% of income. The Budget contained very little information about the proposal.....
Monday, April 23, 2012
At these seminars, members were also advised by HMRC that the telephone lines to their Dundee office dealing with Corporation Tax (primarily Northern Ireland companies) are currently experiencing a serious outage. Telephone capabilities will be affected for up to a 10 day period. Members have been .....
Monday, April 23, 2012
Over 3 evenings last week, just over 120 Ulster Society members met with Senior HMRC personnel at a number of sessions across Northern Ireland. The bespoke seminars in Newry, Derry and Belfast were jointly hosted by Chartered Accountants Ulster Society and the Institute’s Northern Ireland Tax Commi.....
Friday, April 20, 2012
The use of a common consolidated corporate tax base (CCCTB) should be mandatory according to the European Parliament in a vote held yesterday outlining its position on legislation proposed by the Commission. The Commission had proposed a voluntary scheme. In the Parliaments amendment to the .....
Friday, April 20, 2012
At these seminars, members were also advised by HMRC that the telephone lines to their Dundee office dealing with Corporation Tax (primarily Northern Ireland companies) are currently experiencing a serious outage. Telephone capabilities will be affected for up to a 10 day period. Members have been .....
Friday, April 20, 2012
The events were developed by HMRC, based on specific agenda items requested by the NITC, and were intended to provide members with a forum for listening to what’s happening in HMRC and how our members can best interact with the Department to get the most out of that relationship for the benefit of .....
Friday, April 20, 2012
We are pleased to launch the new look and feel of the corporate site. The Chartered Accountants Ireland website is accessed by thousands of visitors all over the world each day and we welcome your feedback on this new interface design. We have undertaken some consolidation of content, so the elibra.....
Friday, April 20, 2012
The Report of the Commission on Credit Unions, which was published this week, sets out the key features of credit unions in Ireland, their history and development, examines the financial position of the sector and considers findings from a survey of credit unions, a public consultation and a s.....
Friday, April 20, 2012
Available from Chartered Accountants Ireland is the APB Compendium of Standards and Guidance 2012 – Ireland Edition, which includes ‘the Clarified ISAs’, and, the amendments to the Ethical Standards for Auditors that were issued in December 2011. As well as comprising the APB Compendium 2012.....
Friday, April 20, 2012
The round-table, entitled “Joining Forces to Better Fight Money Laundering” took place on 18 April 2012 and featured the following speakers: Eric Ducoulombier, European Commission; Lia Umans, FATF; Karen Silcock, Chair of the FEE Anti-Money Laundering Working Party; Olivier Boutellis-Taft, FEE CEO......
Friday, April 20, 2012
The International Ethics Standards Board for Accountants (IESBA) is seeking feedback from directors and audit committee members on its proposals to strengthen the framework that would apply when there has been a breach of its independence requirements. The IESBA is seeking directors or audit commit.....
Friday, April 20, 2012
This edition of IFAC News includes updates from the standard-setting boards, committees, and leadership as well as coverage of recent IFAC events. The International Federation of Accountants was founded 1977 to strengthen the worldwide accountancy profession in the public i.....
Friday, April 20, 2012
The two Q&As published today - Q&A 2012/01 Application of ‘undue cost or effort’ and Q&A 2012/02Jurisdiction requires fallback to full IFRSs - were part of a package of five draft Q&As that were published by the SMEIG in September 2011. After considering the.....
Friday, April 20, 2012
The Accountancy and Actuarial Discipline Board (AADB), an operating body of the Financial Reporting Council (FRC), has published a consultation document on guidance it proposes to issue to AADB tribunals on determining sanctions in disciplinary cases under its Accountancy Scheme. Responses to the c.....
Friday, April 20, 2012
The Financial Reporting Council has today begun consultation on proposed revisions to the UK Corporate Governance Code and International Standards on Auditing (UK and Ireland) to give effect to its Effective Company Stewardship proposals. The FRC is also consulting on updates to the Stewardship Cod.....
Monday, April 16, 2012
Ireland and Egypt signed a Double Taxation Agreement on 9 April and the legal procedures to bring this agreement into force are now being followed. Ireland has now signed comprehensive tax agreements with 66 countries. The full list is available from the Revenue website.....
Monday, April 16, 2012
HMRC advise that they will soon be adding a VAT view of liabilities and payments to the Business Tax Dashboard in the near future. Once this is available a message will be issued confirming the availability of the service. Information on the dashboard is available here. .....
Monday, April 16, 2012
HMRC are reminding employers that the next PAYE payment is due Sunday 22 April 2012 - to avoid paying late and late payment penalties, HMRC must have cleared funds by the payment date. Only electronic payments sent using the Faster Payments Service are able to clear into the HMRC account on a non-b.....
Monday, April 16, 2012
The Indexation Allowance for assets disposed of in February 2012 together with historical data is now available here. .....
Monday, April 16, 2012
The guidance that HMRC will use to decide who should be asked for a PAYE & NICs Security and the process they will follow has now been published on the HMRC website. HMRC state that they will seek a security only where there is serious risk to the revenue, and it is intended that this will be d.....
Monday, April 16, 2012
Members are reminded that these events are taking place this week and places can still be booked. These are bespoke sessions HMRC have developed specifically at our request following on from a submission made by the Northern Ireland Tax Committee last year on your behalf. Details of the seminars ar.....
Monday, April 16, 2012
Have you got yours yet? The updated version of this popular tax toolkit is designed to help you streamline your procedures and assist you in asking the right questions to capture essential details for 2011 Personal Tax and Corporation Tax returns in the Republic of Ireland. And all for just €70! Fi.....
Monday, April 16, 2012
The above Order has been made in accordance with section 285A Taxes Consolidation Act 1997. The effect of this Order - S.I. No. 107 of 2012 is to update the energy efficient products whose capital cost will be eligible for accelerated capital allowances and to update the energy efficiency criteria .....
Monday, April 16, 2012
Part 5 of the Capital Acquisitions Tax manual has been updated to take account of the amendments made to Discretionary Trust Tax (DTT) by Finance Act 2012. Finance Act 2012 introduced the following amendments to discretionary trusts created by a person’s will where that person died on or after 8 Fe.....
Monday, April 16, 2012
The Social Welfare and Pensions Bill 2012 was published recently by Joan Burton TD, Minister for Social Protection. This Bill provides for the implementation of a number of changes to social welfare schemes announced in Budget 2012. In addition the Bill provides for a number of miscellaneous amendm.....
Monday, April 16, 2012
Finance Act 2012 is now published on the Oireachtas website. As announced in Chartered Tax News last this week, Finance Bill 2012 was signed into law by President Higgins on 31 March and is now enacted as Finance Act 2012, Act No. 9 of 2012. Finance Act 2012 seminars are being brought t.....
Friday, April 13, 2012
This easy-to-use guide to the complexities of insolvency in Ireland for business managers, accountants, and other professionals is soon to be available in the iBookstore on your iPad. The various types of insolvency are explained in easy-to-understand terms along with the circumstances where each t.....
Friday, April 13, 2012
Ireland and Egypt signed a Double Taxation Agreement on 9 April and the legal procedures to bring this agreement into force are now being followed. Ireland has now signed comprehensive tax agreements with 66 countries. The full list is available from the Revenue website.....
Friday, April 13, 2012
Details of these seminars are now available and we would encourage members to take the opportunity to attend one of these key sessions. Spaces are filling up for the sessions which are next week so please book now! HMRC Information Seminars for Ulster Society Members: ‘Meet HMRC in your area’ Newry.....
Friday, April 13, 2012
Members are reminded that the due date for electronic payments of PAYE month 12 - or quarter 4 - period ended 5 April 2012, is Sunday 22 April 2012. To avoid paying late HM Revenue & Customs (HMRC) must have cleared funds by 22 April. It is important to note that only electronic payments .....
Friday, April 13, 2012
Revenue have announced that an essential upgrade to the Revenue Online Service (ROS) will take place and therefore the following online Revenue services will be unavailable tomorrow Saturday 14 April between 13.00 and 15.30: All ROS Business transactions All PAYE Anytime transactions All VRT/Transi.....
Friday, April 13, 2012
Finance Act 2012 is now published on the Oireachtas website. As announced in Chartered Tax News earlier this week, Finance Bill 2012 was signed into law by President Higgins on 31 March and is now enacted as Finance Act 2012, Act No. 9 of 2012. Finance Act 2012 seminars are .....
Friday, April 13, 2012
Christchurch, New Zealand is emerging as an exciting, spontaneous and challenging place to live and work. And it’s not just us that think so, Lonely Planet recently described Christchurch as one of New Zealand’s ‘most exciting cities’ (Jan 2012). With the economy doing well and a large injec.....
Thursday, April 12, 2012
Integrated Reporting is seen as a major development in corporate reporting. Central to Integrated Reporting is the challenge facing organisations to create and sustain value in the short, medium and longer term. This event on 30 May 2012 will provide an opportunity for key European stakeholders to .....
Thursday, April 12, 2012
IAASA has updated its procedures in regard to its statutory Enquiries and Investigations respectively. The revised Regulations, which have today been laid before the Houses of the Oireachtas, can be downloaded below: • S.I. 97 of 2012 - Companies (Auditing and Accounting) Act 2003 (Procedures Gover.....
Thursday, April 12, 2012
WebFiling is changing From 22 April 2012 Companies House will be improving the look and feel of the Companies House WebFiling screens. These new screens are a first phase of WebFiling improvements. They have been designed following customer feedback and usability testing, and are aimed at providing.....
Tuesday, April 10, 2012
Tax revenues in the first quarter of 2012 were €809 million (10.2%) ahead of forecast. Boosted by the 2% increase in the standard rate of VAT and the USC, total tax receipts to end-March were €8,722 million, some €1,216 million (16.2%) up on the same period in 2011. In contrast to the trend in VAT .....
Tuesday, April 10, 2012
The Commission has set out proposals to dramatically reduce what it calls the unnecessary administrative burden for registering a car in another Member State. The proposals will lead to substantial administrative simplification with total savings of at least € 1.5 billion per year for businesses, c.....
Tuesday, April 10, 2012
The Global Forum on Transparency and Exchange of Information for Tax Purposes has completed peer reviews on Brazil, Chile, Costa Rica, Cyprus, the Czech Republic, Guatemala, Malta, México, Saint Vincent and the Grenadines and the Slovak Republic under Phase 1 of the review process. A review of Kore.....
Tuesday, April 10, 2012
The Commission has announced that it will carry out a thorough assessment of national direct taxes to determine whether they create unfair disadvantages for workers that live in one Member State and work in another. Where discrimination or breaches of the EU's fundamental freedoms are found, the Co.....
Tuesday, April 10, 2012
A guidance note outlining the main changes to the above return and supporting notes is now available.....
Tuesday, April 10, 2012
HMRC guidance on the new reduced rate of Inheritance Tax for a 10% donation to a registered charity is now available. In addition there is a new calculator that will either work out the charity donation required to qualify for the reduced rate or will advise whether a bequest already made is suffic.....
Tuesday, April 10, 2012
A joint HMRC/HM Treasury Budget update note on the cap on unlimited tax reliefs has been published in advance of the summer consultation. Currently individuals can offset their entire income against income tax reliefs, and, in some circumstances pay no income tax at all. Budget 2012 announced that .....
Tuesday, April 10, 2012
An interactive self-employed ready reckoner has now been produced by HMRC which is aimed at helping the newly self-employed budget for tax payments by showing roughly how much money to set aside to meet their first tax and Class 4 National Insurance bill. The ready reckoner tool is for self-employe.....
Tuesday, April 10, 2012
From 1 April 2012, virtually all businesses must now submit their VAT Returns online and pay any VAT due electronically, for all accounting periods starting on or after 1 April 2012. This change means all remaining businesses - those who were VAT registered before 1 April 2010 and have a VAT exclus.....
Tuesday, April 10, 2012
Details of these seminars are now available and we would encourage members to take the opportunity to attend one of these key sessions. Spaces are filling up for the sessions which are next week so please book now! HMRC Information Seminars for Ulster Society Members: ‘Meet HMRC in your area’ Newry.....
Tuesday, April 10, 2012
Have you got yours yet? The updated version of this popular tax toolkit is designed to help you streamline your procedures and assist you in asking the right questions to capture essential details for 2011 Personal Tax and Corporation Tax returns in the Republic of Ireland. And all for just €70! Fi.....
Tuesday, April 10, 2012
Revenue have published a number of updated information notes and leaflets as well as VAT guidance notes for Finance Act 2012. These recently published notes include: IT 66 – Home Carer Tax Credit Deposit Interest Retention Tax (DIRT) List of Approved Buildings and Gardens CAT 1 – Gift Tax CAT 2 - I.....
Tuesday, April 10, 2012
Revenue have advised at a recent meeting of the TALC Collection subcommittee that a number of enhancements to the eRegistration system will be released in July 2012. These enhancements address some of the issues with the eRegistration system raised by our members in recent times and include: A sing.....
Tuesday, April 10, 2012
Finance Bill 2012 was signed into law by President Higgins on 31 March and is now enacted as Finance Act 2012, Act No. 9 of 2012. Finance Act 2012 will be published on the Oireachtas website in due course. In the meantime, the most up to date text is Finance Bill 2012 as amended in the Select Sub-C.....
Tuesday, April 10, 2012
Revenue have announced that the 2011 Pay and File deadline for Revenue Online Service (ROS) is Thursday 15 November 2012. This extension applies to the return filing and tax payment date for certain self-assessment income tax customers and for customers liable to Capital Acquisitions Tax (CAT). In .....
Thursday, April 05, 2012
The Commission has announced that it will carry out a thorough assessment of national direct taxes to determine whether they create unfair disadvantages for workers that live in one Member State and work in another. Where discrimination or breaches of the EU's fundamental freedoms are found, the Co.....
Thursday, April 05, 2012
From 1 April 2012, virtually all businesses must now submit their VAT Returns online and pay any VAT due electronically, for all accounting periods starting on or after 1 April 2012. This change means all remaining businesses - those who were VAT registered before 1 April 2010 and have a VAT exclus.....
Thursday, April 05, 2012
Details of these seminars are now available and we would encourage members to take the opportunity to attend one of these key sessions. HMRC Information Seminars for Ulster Society Members: ‘Meet HMRC in your area’ Newry Time & Date: 6pm-8pm, Tuesday 17th April 2012 Venue: Canal Court Hotel, Ne.....
Thursday, April 05, 2012
Revenue have announced that the 2011 Pay and File deadline for Revenue Online Service (ROS) is Thursday 15 November 2012. This extension applies to the return filing and tax payment date for certain self-assessment income tax customers and for customers liable to Capital Acquisitions Tax (CAT.....
Thursday, April 05, 2012
The Better Regulation Delivery Office, a new streamlined independent body that intended to ensure the voice of business is heard in UK regulation policy, has been created within the UK Department for Business, Innovation and Skills (BIS). The full press release is available by clicking here.....
Thursday, April 05, 2012
An option for customers to incorporate a company and register for Corporation Tax in the UK in one process will be available later this month. More details are available on the Companies House website, which can be accessed by clicking here.....
Thursday, April 05, 2012
The Minister for Justice and Equality, Alan Shatter T.D, today announced that he has signed the first Commencement Order and the Establishment Order under the Property Services (Regulation) Act 2011. The primary purpose of the Act is to establish the Property Services Regulatory Authority with a ma.....
Thursday, April 05, 2012
The Professional Oversight Board of the Financial Reporting Council (FRC) recently published a description of those entities whose audits will be deemed to be “major audits” for the purposes of audit inspections in the year from 1 April 2012 to 31 March 2013. Such audits will fall within the scope .....
Wednesday, April 04, 2012
The International Public Sector Accounting Standards Board (IPSASB) has published Exposure Draft (ED) 47, Financial Statement Discussion and Analysis—a proposed new standard. The ED proposes minimum required content while still providing sufficient flexibility for entities to prepare and publish fi.....
Wednesday, April 04, 2012
Going Paperless is not only about saving paper and space. The real goal of storing and retrieving documents electronically is a dramatic improvement in efficiency and productivity. Although published six years ago, much of the content of this book remains relevant today. As a special promotion to m.....
Tuesday, April 03, 2012
The Financial Reporting Council (FRC) has announced that Richard Fleck will succeed Bill Knight as Chairman of the Financial Reporting Review Panel. Mr Knight retired on 31 March after serving as Chairman for eight years. To access the full press release, please click here.....
Tuesday, April 03, 2012
The Auditing Practices Board (APB) of the FRC has recently announced the withdrawal of the following documents: PN 14 “The Audit of Registered Social Landlords in the United Kingdom (Revised)” issued in March 2006 (development of updated PN on-going); PN 27 “The Audit of Credit Unions in .....
Tuesday, April 03, 2012
The Auditing Practices Board (APB) of the Financial Reporting Council (FRC) has recently issued a paper that sets out its views on the nature of professional scepticism and its role in auditing. The paper builds on the APB Discussion Paper published in 2010 Auditor Scepticism: Raising the Bar and t.....
Monday, April 02, 2012
Have you got yours yet? The updated version of this popular tax toolkit is designed to help you streamline your procedures and assist you in asking the right questions to capture essential details for 2011 Personal Tax and Corporation Tax returns in the Republic of Ireland. And all for just €70! Fi.....
Monday, April 02, 2012
Tax officials from 90 countries agreed at the OECD’s first Global Forum on Transfer Pricing on the need to simplify transfer pricing rules, strengthen the guidelines on intangible issues and improve the efficiency of dispute resolution. During the coming year, the Global Forum will carry out a tran.....
Monday, April 02, 2012
Revenue have published a number of updated listings which include: Charities authorised under the terms of Section 848A Taxes Consolidation Act, 1997 Alphabetical list of Bodies with Charitable Tax Exemption Alphabetical list of Sports Bodies with a Tax Exemption Artists Exemption List .....
Monday, April 02, 2012
The Central Budget Office in the Department of Finance has launched a public Exchequer Tax Databank which contains data on Exchequer tax receipts since 1984 to present. The Tax Databank contains all historic data and current year data is presented on a monthly basis. The tax trend over .....
Monday, April 02, 2012
Members are reminded that the €200 NPPR charge for 2012 is now due. As has been the case in recent years there will be a three month payment window with late payment fees of €20 per month or part month coming into effect from 1 July 2012. The 2012 NPPR charge is based on the owne.....
Monday, April 02, 2012
HMRC Online Services will start to close from 21.00 on Thursday 5 April and will remain closed until Wednesday 11 April to allow for IT upgrades. All services will be affected including VAT, Corporation Tax, Self-Assessment and PAYE. Detailed information on timings and individual services will be c.....
Monday, April 02, 2012
The latest issue of the publication for tax agents and advisers published by HMRC in association with the Working Together partner representative bodies is now available. Issue 47 includes (amongst other items): a summary of the top open and closed issues from the National Working Together Teams is.....
Monday, April 02, 2012
A consultation document on proposals for possible changes to the Income Tax rules on the taxation of interest and interest-like returns, and rules on the deduction of tax at source from such amounts was also launched last week. The Government is considering a number of legislative changes to these .....
Monday, April 02, 2012
A new certificate has been added to the reverse of the stock transfer form, to be completed when a share transfer is 'otherwise' exempt from stamp duty or no chargeable consideration is given for the transfer. HMRC advise that the change to the form stemmed from practical problems that the legal se.....
Monday, April 02, 2012
Last year the Northern Ireland Tax Committee of Chartered Accountants Ireland made a proactive submission to HMRC in respect of various service issues of concern. The submission is available to view here. As a result of that submission several meetings were held with HMRC and at th.....
Monday, April 02, 2012
Finance Bill 2012 and Explanatory Notes have now been published together with a number of information notes on the following areas: the Enterprise Management Incentives scheme, Capital Gains Tax entrepreneurs' relief and a Technical note on The Patent Box proposals. Finance Bill 2012 reflects the v.....
Sunday, April 01, 2012
CHARIOT (Chartered Accountants Reference and Information Tool) has now been updated online. CHARIOT online is a free Institute Members (including Students) only service. You will need your Member ID and password to access CHARIOT. If you have forgotten your password, you can submit .....