BSc, FCA, CTA Fellow
With 3 1/2 years backlog of work and such high "costs", I don't suppose the disciplinary would even need to dream of fiddling their own expenses.
Also the legal profession gives the title "costs" to their remuneration whereas we mortals submit fee invoices.
Was the matter so complex that it needed such an expensive and rarely-available team?
The idea of her hanging upside down on a pole wearing little more than 6 to 10 inch high heels is distracting me from fully understanding the legal arguments.
Interesting article and very,very well written.
I think being dead is no longer accepted.
Highly useful and informative article
Great to read an "emperor's new clothes" approach to getting things done quickly. There was a phase a few years ago when tradesmen, estate agents and other professionals turned up with ipads.
Bashing off transactions in excel seems to be the quickest, although lacking in rigour.
It is a shame HMRC will not work with front end excel templates so that accountants could cross-link their data which arrives in so many formats. It is beyond most humans to cross-link in iXBRL.
Accountants spend their time transcribing: viewing data in one location and typing it in at another location.
However, I am sure many accountants enjoy the moment when the online filing uploads a hefty chunk of tax return in a few seconds.
He was talking about acquired goodwill, not fixed assets. FRS102 states:
“If an entity is unable to make a reliable estimate of the useful life of goodwill, the life shall not exceed five years.”
The amortization period can still be 20 years, but it is hard to prove your case if the company is making losses.
Under IAS38 the annual impairment test seems less empirical than FRS102.
FRS102 can help in keeping arguments between auditors and management short and sweet.
Unlikely they will reach a 1 minute response time as you have to listen to a recorded message for 2 minutes.
Increase in tax not so bad
I have plotted the differences between 2015-16 and 2016-17 tax years for a company director on primary threshold salary. These are two not very straight tax curves which show varying differences.
At £15,000 business income they will be £69.40 better off.
At £40,000 business income they will be £1,025.46 worse off.
At £60,000 they will be only £162.43 worse off.
At £100,000 they will be £2,292.42 worse off
At £135,000 they will be only £925.69 worse off
Difficult to put the difference between two wiggly curves into words.
I currently say to my clients that incorporation is worth it from £15,000 business income, but that is only because my fees are very low and I am hoping they will rise to higher levels.