As readers will be aware, the new versions of UK Accounting Standards were issued in September 2024. The changes mandated within these updates take effect for accounting periods commencing on or after 1 January 2026, with early adoption permitted, this is an all-or-nothing approach, meaning that these amendments cannot be applied in part. While early […]

Companies House have published their first ever strategic intelligence assessment and the following are key observations from the assessment:   “Register of Overseas Entities:   Thirty thousand entities were registered on the Register of Overseas Entities by December 2023 – over 90% of the total register.   By November 2022, 1% of all UK properties […]

Following the conclusion of the most recent meeting of the Financial Action Task Force (“FATF”), their Press Release indicates the following amendments to the FATF Grey List: (https://lnkd.in/eneMHPgn) “Jurisdictions under Increased Monitoring: Jurisdictions under increased monitoring are actively working with the FATF to address the strategic deficiencies in their regimes to counter money laundering, terrorist […]

It’s that time of the year again when we send out our “course nominations”  to HAT member firms whose students / staff have previously attended one of our courses, but bookings are also now open for any other HAT member or non-member Accountancy / Audit practices that would like to make use of our extensive […]

Dilapidations It is often the case that a property lease includes the requirement for the property to be returned to the landlord in the same state as when the lease was taken out. Any changes to the original condition of the property will therefore create a liability to reinstate the property back to that original […]

The Charity Commission has provided a summary update regarding changes, brought about by the Charities Act 2022, which came into effect on 1 June and include: “Selling, leasing or otherwise disposing of charity land: Charities must comply with certain legal requirements before they dispose of charity land.  Disposal can include selling, transferring or leasing charity […]

The Charity Commission has published findings of an inquiry, which includes: “The Commission concluded that the charity’s trustees had failed to fulfil their duties to protect the charity and its assets and failed to demonstrate any effective oversight of senior staff leading to the serious misconduct and / or mismanagement, including misuse of funds and […]

Following on from a recent update by the Solicitors Regulation Authority (“SRA”) regarding the provision of banking facilities, an ICAEW Disciplinary Update has advised the following: “A member was severely reprimanded and fined £12,250.  The member was the responsible individual for the preparation of Solicitors Regulation Authority (SRA) Accountant’s Reports submitted for a client for […]

In a recent publication the Information Commissioner’s Office (ICO) is asking  accountants to step up in helping their SME clients navigate the existing (and future) complex data protection legislation. The ICO says “UK accountants should recognise the crucial role they play in helping their SME clients establish the correct data protection practises from the day […]