HMRC’s new powers to tackle electronic sales suppression
The HMRC has issued advice about the new powers and penalties under the Finance Act 2022 to tackle electronic sales...READ MORE
The Financial Reporting Council (FRC) has issued amendments to FRS 102 affecting the reporting treatment of multi-employer defined benefit (DB) plans to clarify reporting of deficits in other comprehensive income.
These narrow scope amendments address a problem with the current accounting rules relating to financial reporting on pensions, which has created a lack of consistency in the way companies report the impact of an employer’s transition from defined contribution accounting to defined benefit accounting; and how it is presented in other comprehensive income (OCI).
Read more at the Accountancy Daily.