Companies

Penalties

Senior accounting officers obligations

Computations in foreign currency post-1 October 2002

Designated currency

Exception from the general rule: chargeable gains and losses

Exceptions from the general rule: profits and losses that fall to be calculated in accordance with GAAP

FOREX rules

Functional currency

General rule

General rule exceptions

Operating currency

Periods of account beginning after 31 December 2004, exceptions from the general rule

Periods of account on or after 27 December 2007

UK permanent establishment of non-resident companies post-31 December 2004

Corrective

Defective

Delivery of

Form of

Grant of representation not obtained

Inheritance tax

Inheritance tax, delivery

Loan relationships

Non-resident trustees

Partnerships

– see Partnerships

Penalties

Potentially exempt transfers chargeable

Provision for future losses

Refusal of grant of representation where not delivered

Regulations

Returns

– see Returns

Scotland

Senior accounting officers obligations

Appropriate tax accounting arrangements, meaning

First financial year on or after 21 July 2009

Generally

Groups

Main duty

Meaning of qualifying company

Meaning of senior accounting officer

Opening balances

PAYE

Penalties

Qualifying company, duties of

Reporting requirement

Substitute accounts and other forms

Summary application for

Trading stock

Transferor, delivery of by

Value added tax

Annual accounting scheme

Cash accounting scheme

Generally

Special schemes, small businesses

Variation of dispositions taking effect on death, instruments made

Written down expenditure, deductibility of loss on residential property transferred to director as bonus