Merger relief – what is it?

16.06.22

In the UK, Part 17 of the Companies Act 2006 dictates the accounting for share capital being issued. Legislation has established a number of statutory reserves, including share premium, capital redemption reserve and share capital. The regulations restrict what statutory reserves can be used for. This article highlights the requirements of accounting for share issues…

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Share options – a brief accounting guide

14.06.22

Issuing share options, whether to employees, directors or suppliers, has increased in popularity. Accounting for share options, referred to as share-based payments in accounting standards, can be complex. If you are considering issuing share options, you should obtain specialist accounting advice prior to issuing the options. This article does not include the taxation, or deferred…

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Additional electronic tagging requirements for many UK listed companies

04.03.22

For many years, financial statements have been prepared in a paper format and approved in person by those charged with governance. Copies of these documents are sent to shareholders and to other relevant regulators. For most companies listed on the London Stock Exchange, amendments to the disclosure and transparency rules will require the primary statements…

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New climate change reporting requirements for large businesses

15.02.22

Stakeholder expectation for transparency and information related to a business’s activity regarding climate change continues to increase. New reporting requirements, for accounting periods commencing on or after 6 April 2022, were approved in January and affect certain very large businesses. Which businesses are affected? The new reporting regulations apply to companies and limited liability partnerships…

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December 2021 year end reporting – are you aware of the changes?

04.02.22

Many businesses will be completing the posting of their last transactions and journals and beginning to prepare for their audit for their 31 December year end. For entities which adopt FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, there are very limited changes to the recognition and measurement of…

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Website disclosure requirements

10.01.22

Depending on its size, your business may have to include certain disclosures on its website if it has one. Below are the requirements for a stand-alone company. Exemptions which may be available are not included. While this can be used as a useful starting point to understand your organisation’s requirements, we strongly recommend you obtain…

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Are you prepared for the additional reporting requirements of your growing business?

15.12.21

Having just filed your latest set of accounts at Companies House, this article’s title may have made you groan. With almost another year to file your accounts, considering this period’s financial statements may feel like overkill. However, allocating some time to this in the next few weeks could save a significant amount of time and…

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Banking covenants – are the terms in your agreement specific?

01.12.21

The London Inter-Bank Offered Rate (LIBOR) will cease to be updated after 31 December 2021. It is being replaced by SONIA, the Reformed Sterling OverNight Index Average. You’re probably now renegotiating your organisation’s finance agreements due to there being no transitional clauses in current contracts. But, as part of your renegotiations, have you reviewed the…

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Narrative disclosure requirements

01.12.21

Depending on its size, your business may be disclosing its energy use, providing details of its corporate governance arrangements and how directors have met their statutory duties. We have prepared the table below to highlight the required disclosures of a stand-alone company. Exemptions from some of the requirements are available for subsidiaries which are included…

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