In October’s vlog, Peter Herbert reports on progress on the Economic Crime and Corporate Transparency Act.
By popular demand, join Malcolm Greenbaum on 29th November, 9.30-12.30, for our Autumn Budget Update.
Upcoming courses
Our 2025 CPD programme has just been released.
You can view our programme listing here and download our booking form here. Our brochure and booking links will follow soon.
Date – Time – Course – Presenter
14th Oct – 9.30-12.30 – Autumn Financial Reporting Update – John Selwood
16th Oct – 9.30-11.30 – Ethics for Accountants and Auditors – Peter Herbert
4th Nov – 9.30-12.30 – Capital Gains Tax The Fundamentals – Malcolm Greenbaum
7th Nov – 9.30-11.30 – 20 FAQs on Charity Accounts Disclosures – Richard Hemmings
7th Nov – 12.30-1.30 – Top 5 File Review Issues – Richard Hemmings
12th Nov – 9.30-12.30 – Small and Micro Entity Accounting Issues – Richard Hemmings
14th Nov – 9.30-12.30 – Financial Reporting &Tax Update – Peter Herbert & Ros Martin
19th Nov – 9.30-12.30 – MTD Update – Rebecca Benneyworth
21st Nov – 9.30-12.30 – Autumn Audit Update – Peter Herbert
26th Nov – 9.30-12.30 – VAT Update – Mike Thexton
28th Nov – 9.30-12.30 – Audit Compliance Principals’ Regulatory Update – Peter Herbert & Jez Williams
29th Nov – 9.30-12.30 – Autumn Budget Update – Malcolm Greenbaum
Our AML, Ethics and GDPR E-Learning Programmes are available now.
“Excellent delivery, easily understood with some good points raised.” Delegate, Autumn series
FAQs from recent courses
Charities
We act for a Charitable Cooperative and Community Benefit Society. Is the Charity SORP compliance mandatory?
This was a question we raised in last month’s newsletter. We have consulted the Charity Commission on this and they have confirmed that the answer is yes! Here’s what they told us: ‘Exempt charities must produce accounts and comply with audit requirements under their own legal framework or the principal regulator’s requirements. For example, Registered Providers of Social Housing must apply the Housing SORP. Exempt charities that are required to prepare accounts which give a ‘true and fair view’, which include companies and charitable community benefit societies, must prepare accounts in accordance with the relevant reporting standards and UK-Irish Generally Accepted Accounting Practice, including the Charities SORP’. Charity Commission publication CC23 is being updated to make this requirement clearer.
Skills
I’m coaching a junior team and I know that I shouldn’t just give them the answer, but …… I know a better/quicker/more effective way of completing the task!
You might well be right. But not necessarily, and using a directive, ‘tell’ style, rather than a coaching style, is less effective in the long term. It denies them the learning opportunity and reduces buy in. What if it turns out you are right, though, and you have withheld useful information that really might have helped?
Try this – ask them what would be most useful? Would they like to discuss, would they like some pointers or be given some more time to figure it out? Asking for an invitation to share your perspective before sharing it means that the person being coached takes responsibility and will be more likely to benefit from the learning opportunity.
Accounting
We have a query about the accounting for cars leased under salary sacrifice arrangements, in particular in relation to electric vehicles and how the accounting will work under the revised FRS 102. Because the economic benefits (and the use) of the car are transferred to the employee, will these be ‘on balance sheet leases’ under the revised FRS 102 from 2026?
We feel that the answer is yes. In order to recognise an asset on the balance sheet, economic benefits must be anticipated. Although in this situation the company won’t benefit directly from such assets it will benefit indirectly – because in return for subletting them to employees, it will benefit from the employees’ services. Paragraph B21 of IFRS 16 (which the new rules are based on) explains that ‘benefit’ can be obtained in different ways, specifically holding, using or subleasing a leased asset.
