FRS | AccountingWEB


Neil Warren just loves the VAT flat rate scheme – or, FRS as it’s known to its friends. He can talk about it all day long, unless Manchester United FC is playing, which trumps even the FRS.


I have been on the Flat Rate VAT Scheme for a couple of years. My anniversary date i.e. the day in which I first went on the scheme is 1st of July.


On 16 July 2015 the Financial Reporting Council (FRC) issued the new UK GAAP for small and micro-entities.  This marked the end of several years’ work by the FRC in introducing an international-bas


I thought I'd covered everything in FRS VAT then this turned up.


The FRC has published draft changes to FRS 102 for defined benefit pensions to make it clearer before it becomes mandatory on 1 January 2015.

Evening all.

Recently taken on a client who runs a gym and has been doing so since September 2012, and has only now decided that he needs an accountant now.


The financial reporting overhaul scheduled for January 2015 is already underway and “represents the biggest change UK GAAP has seen, certainly in my lifetime”, acc

A client does event management for companies in UK, EU countries and US. She does travel into these countries to manage the events. She operates as a sole trader and is registered for FRS VAT.


In the second of a series of articles on the new UK GAAP


The new UK GAAP project has been ongoing for quite a while and the good news is that we are finally nearly there with the whole project, explains Steve Collings.