Law and regulation

Accounting / Overseas companies buying UK property face clampdown

The government plans to publish a public register of the ultimate owners of overseas companies that own or buy property in the UK in a bid to improve transparency and crack down on criminal gangs laundering dirty money through the property market

Accounting / Accounting legal updates: January 2018

In this month's legal updates, experts at law firm Gateley plc consider defective notice resulted in failure of warranty claim, disguised dividends unfairly prejudical against Blackpool FC shareholders

Accounting / Accounting updates: January 2018

In this month’s roundup of developments in accounting and financial reporting, Poundland owner Steinhoff calls in PwC over accounting irregularities, FRC plans to scrutinise Mitie 2016 financial statements, tax changes to plant and machinery leases planned

Accounting / PwC cries foul over Wasps rugby club earnings statement

Wasps, the English Premiership rugby union club and owner of the Ricoh Arena in Coventry, has been forced to ask holders of its retail bonds to authorise certain waivers to the terms and conditions, after auditor PwC identified an overstatement of earnings

Accounting / FRS 102 amendments explained: practical issues

Anne Cowley ACA reviews the latest amendments to FRS 102 resulting from the FRC’s triennial review highlighting changes to directors’ loans, recognition of intangible assets and investment property, as well as the definition of financial institutions, which on balance simplify aspects of UK GAAP

Accounting / CAI members and ex-execs of AssetCo face FRC disciplinary tribunal

Three former senior executives of AssetCo, who are all members of Chartered Accountants Ireland (CAI), are to face a Financial Reporting Council (FRC) disciplinary tribunal in the new year in relation to the preparation and approval of the AIM-listed company’s financial statements

Accounting / Improving transparency on human rights reporting in annual reports

Improving supply chain transparency and human rights reporting is becoming increasingly important for companies. Mazars business and human rights partner Richard Karmel gives some tips and advice on how to to report the role and value of human rights policy in annual reports 

Accounting / Legal updates: December 2017

In this month's legal updates, experts at law firm Gateley plc consider High Court ruling where dividend paymemts were not unlawful despite liquidation and and ambiguous restrictive covenant case overturned at Court of Appeal

Accounting / Companies Act 2006 Part 3: pros and cons of shareholders’ agreements

This article, the third in our series on the Companies Act 2006, will focus on a company’s constitution, covering the memorandum of association and highlighting the pros and cons of shareholders’ agreements

Accounting / Companies Act 2006 Part 2: forming a company

This article, the second in our series on the Companies Act 2006, will focus on how to form a company, through to the essential documentation to ensure a new company complies with the legal framework as set out in CA 2006 Part 2

Accounting / FRC to scrutinise Mitie’s 2016 financial statements

The Financial Reporting Council (FRC) has announced a further investigation into FTSE 250 outsourcing supplier Mitie Group, in relation to the preparation and approval of the financial statements for the year ended 31 March 2016, following on from its probe into Deloitte’s audit of the company, which has issued a string of profit warnings

Accounting / Companies Act 2006 Part 1: pros and cons of incorporation

This article, the first in our series on the Companies Act 2006, outlines the advantages and disadvantages of incorporating a company, taking into account elements such as taxation, ownership, expenses and the withdrawal of capital

Accounting / EU approves use of IFRS 16 Leases accounting standard

​The European Commission has endorsed the use of IFRS 16 Leases in EU member states following release of the latest IFRS Standards and amendments update

Accounting / Legal updates: November 2017

In this month's legal updates, experts at law firm Gateley plc outline corporate tax evasion offences under the Criminal Finances Act, the key changes as part of the new General Data Protection Regulation (GDPR) and consider whether the Duomatic principle could be invoked in order to validate the appointment of administrators

Accounting / FCA fines Merrill Lynch £34.5m over derivatives reporting failures

The Financial Conduct Authority (FCA) has fined Merrill Lynch International (MLI) £34.5m for failing to report tens of millions of exchange traded derivative transactions over a two-year period under the European Markets Infrastructure Regulation (EMIR)
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