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1. FRS 102: How to treat bank loans with fees

   Financial reporting

   ... transaction costs that arise when a client takes out a bank loan.  FRS 102 The Financial Reporting Standard applicable ... usually be the transaction price.  Hence, for a basic bank loan measured at amortised cost under FRS 102, Section ...

   7th Jun 2022 | Article

2. British Business Bank blasted for Covid ‘cock-ups’

   Finance & strategy

   Lord Agnew has blasted the British Business Bank (BBB) in a one-off Business, Energy and Industrial ... that focused on the fraud and loss within BEIS Covid loan schemes.  After labelling the Treasury’s approach to ... fury of frustration I have because the British Business Bank has presided over one of the most colossal cock-ups in ...

   15th Mar 2022 | Article

3. Bounce Back Loans: It’s payback time

   Finance & strategy

   ... fraud in respect of the initial application for the loan. Secondly, we check whether the company met the criteria ... “The banks are required under the Bounce Back Loan scheme to make reasonable efforts to collect the debt ... guarantee, but afterwards an audit by The British Business Bank finds that the claim was made fraudulently, in bad ...

   3rd May 2022 | Article

4. Directors' loans: A quick guide

   General practice

   For directors of limited companies, a directors’ loan can be extremely handy for large personal purchases. ... useful funding stream for your clients. Director’s loan accounts A director’s loan means that company ... loan can make it look much more appealing than a bank loan for example. However, if rules and repayments ...

   12th May 2022 | Industry insights

5. Long-term impact of Bounce Back Loans is uncertain, say MPs

   Finance & strategy

   ... Committee (PAC) said that although the Bounce Back Loan Scheme (BBLS) helped businesses survive in the short ... consequences”, especially on the British Business Bank’s objective to create a diverse finance market. The MPs have recommended that the Bank addresses the longer-term impact of the scheme on the ...

   27th Apr 2022 | Article

6. Bounce Bank Loan disclosure

   Hello, I have question relating to Bounce Bank Loan.  Company took Bounce Bank Loan in January 2021. Accounts are prepared for period ...

   19th Jun 2021 | Any Answers

7. Sole Trader / Bank Account BBL Loan query

   ...   As the association is non profit, we wonder if the bank has paid out incorrectly. They admit the BBL is not for ... no escalation.  Help needed please.    Sole Trader / Bank Account BBL Loan query ...

   28th Jun 2022 | Any Answers

8. Partnership Incorporation & Bank Loans

   ... wants to incorporate for commercial reasons. Has huge bank loans & to avoid CGT on loans, we asked the bank to transfer the loans over to the newly-formed co ... Eventhough the client has been a client of this bank for over 40 yrs, the bank insists on paying off & ...

   13th Jul 2020 | Any Answers

9. Can Open Banking drive a quiet revolution in accountancy?

   Tech pulse

   ... requirement to have clients reauthenticate access to their bank feeds every 90 days – something many in the accounting ... are no longer required to re-authenticate access with the bank. Instead, they need to re-confirm consent with the ... that is responsible for making the changes with each bank. QuickBooks Online and Sage have been similarly silent ...

   29th Jun 2022 | Article

10. The MTD tech approach: Bank account and ledger in one

    Accounting software

    ... business performance on the basis of what is in their bank account, placing cash at the heart of their financial ... it’s important to state that Starling is an actual bank, and CountingUp an e-money business account provider.  ... of data or extra steps. You don’t need to connect bank feeds or have standalone receipt capture and ledgers as ...

    28th Jun 2022 | Article