Resource Centre

Morgan Davies

Fixed Rate Expenses

We consider an optional system of fixed rate expenses which is available for some businesses.

IR35 Personal service companies

The ‘IR35’ rules are designed to prevent the avoidance of tax and national insurance contributions (NICs) through the use of personal service companies and partnerships.

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.

Mircro Entity Accounting

In recent years many companies have been preparing and filing ‘small company accounts’ under a Financial Reporting Standard for Small Entities (FRSSE). However, for financial years beginning on or after 1 January 2016, FRSSE has been withdrawn and small companies, which qualify as ‘micro-entities’, have a new choice:

Changes to information requirements about people with significant control

There are changes to the information requirements about People with Significant Control (PSC). The new rules potentially affect companies and LLPs. There are also changes for Scottish limited partnerships and certain Scottish general partnerships (collectively referred to as ‘eligible Scottish partnerships’).

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