Personal accountability for SAOs: Join the live webchat

Editorial team
AccountingWEB.co.uk
Share this content
0

On Wednesday 15 July AccountingWEB.co.uk will broadcast a live webchat with BDO Stoy Hayward tax partners Ed Dwan and Tony Spillett on the new tax facing controls affecting senior account officers (SAOs) of large companies.

New legislation will mean that SAOs of large companies (those with a turnover in excess of £200 million or gross assets of £2bn or more) will be required to provide personal certification that their accounting systems are capable of delivering accurate tax reporting.

Failure to do so will result in the SAO being liable for a £10,000 fine for non-compliance, and their company can also be charged £5,000 for  failure to notify HMRC of the identity of its SAO.

HMRC estimates that approximately 2,000 companies will be affected by the proposals.

If yo...

Please Login or Register to read the full article

Replies

Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.