The Acumen Investment Partnership
About the Company News & Announcements Calculators Client Area Contact me for more information
Pensions
Investments
Financial Protection
Tax Planning
Independent Financial Adviser

Personal Finance Society
bnm


Work in progress - the impact of accounting standards

A welcome change will impact on businesses – mainly in the service sector – that will have to pay more tax on work in progress as a result of guidance by the Accounting Standards Board in a circular known as UITF Abstract 40. The Finance Bill 2006 will contain measures enabling most businesses to spread any extra tax charge over three years. Those businesses that are most severely affected will be able to spread the charge over six years.

Summary
Tax allowances and NICs
Pension simplification
Tax credits
Residence and domicile
Corporation tax
First year allowances
Work in progress - the impact of accounting standards
VAT annual accounting
Real Estate Investment Trusts (REITs)
Film taxation
Tax avoidance measures
Tables
Links
The Acumen Investment Partnership is authorised and regulated by the Financial Services Authority.
  This guide is for general information only and is not intended to be advice to any specific person. You are recommended to seek competent professional advice before taking or refraining from taking action on the basis of the contents of this publication. The guide represents our understanding of the law and HM Revenue & Customs practice as at December 2005, which are subject to change.  
The Acumen Investment Partnership

The Acumen Investment Partnership • Southlands • Buxton Road • Bosley • Macclesfield • SK11 0PS
Tel: 01260 223115 • Email: