• ISQC 1 Accounting Auditing

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    Proposals to simplify FRS 102

    On 23 March 2017, the Financial Reporting Council (FRC) issued FRED 67 containing draft amendments to FRS 102 and other new UK GAAP standards.  In this blog post, we consider some of the main proposals. FRED 67 Draft Amendments to FRS 102 There is much to like in these proposals, although you may receive news […]

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  • Big Ben and westminster bridge in London

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    Key Points From Budget 2017

    So what exactly is a damp squib? On old phrase from one of my teachers helps explain – it’s a bit like an elephant, difficult to describe but you know one when you see one.

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  • Handshake LLP SORP Mercia Blog

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    Changes to LLPs and SORP

    January 2017 saw the issue of the final version of the new LLP SORP which is the final piece in the jigsaw for the new reporting regime in respect of LLPs. Recent UK GAAP changes include the withdrawal of the FRSSE and revisions to FRS 102 along with the extension of the micro-entity reporting regime […]

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  • Mercia Blog Audit FRS 105

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    Q&A – Section 1A and FRS 105 disclosure

    As businesses start to prepare their first sets of accounts under the new UK GAAP for small and micro-entities we summarise our views on some of the common disclosure questions that arise.  We will keep this post updated as we receive further enquires through our technical support service.

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  • Apprenticeship Levy and Funding

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    Apprenticeship Levy And Changes To Apprenticeship Funding

    From 6 April 2017 a new charge will apply to some employers – the Apprenticeship Levy. Although many employers will not pay the Levy, there will be significant changes to the taxpayer funding of apprenticeships for all employers. The changes are being introduced as the government wants to encourage the creation of 3 million apprenticeships […]

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  • LinkedIn Business Strategy

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    Using LinkedIn as part of your business strategy

    Last month, we shared tips on using LinkedIn to improve your online presence. This month, we look at how accountancy firms can use LinkedIn to market their practice online. LinkedIn has established itself as a powerful and useful business tool, rather than simply as a method of connecting with those who you know in the […]

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  • Mercia Audit 2017

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    Do you still need an audit? 2016 and beyond…

    Changes to company and LLP law effective for periods commencing on or after 1 January 2016 allow many more businesses to claim exemption from audit. Here’s a quick reminder of the headline changes. Overview Small companies’ (and LLPs’) audit exemption criteria are principally driven by size thresholds and other qualifying criteria defined in law. For […]

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  • Mercia Blog Talking To Your Clients Landlords Residential Property Interest

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    Upcoming Changes For Landlords

    The amount of income tax relief landlords can get on residential property finance costs will be restricted to the basic rate of income tax. Landlords will no longer be able to deduct all of their finance costs from their property income. They will instead receive a basic rate reduction from their income tax liability for […]

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