Resource Centre

Accounts & Audit

Autumn Budget 2017

On Wednesday 22nd November, Philip Hammond presented his budget statement. We have prepared a summary to outline the issues that are most likely to be of interest to you. 

Small Company Accounting

The extent of the change will vary on a company by company basis. It will depend upon the nature of the company’s activities and the types of assets which it has.

Company Secretarial Duties

Company legislation provides an opportunity for a business organisation to benefit from the protection of limited liability, separating the legal persona of the organisation from the individuals who own it.

Legal working in the UK

In line with the Immigration, Asylum and Nationality Act 2006, it is a criminal offence to employ anyone who does not have an entitlement to work in the UK, or undertake the type of work you are offering. Any employer who does not comply with the law may be facing a fine of up to £20,000 per offence. Further, if employers knowingly use illegal migrant labour it could carry a maximum five year prison sentence and/or unlimited fine.

Accounting Standards Changes

Due to the introduction of new accounting standards, commonly referred to as ‘New UK GAAP’, the form and content of company accounts are changing.

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