Duties of senior accounting officers of large companies
The Finance Act introduced detailed requirements for financial officers of certain companies and HMRC has now issued detailed guidance on this which may be found here.
Just to reassure you, the new provisions only apply to UK incorporated companies that in its preceding financial year, either alone or in aggregate with other UK companies in its group, has turnover of more than £200 million, or balance sheet totals of more than £2 billion. This is unlikely to affect many businesses but where it does apply the requirements are stringent.
Cathy Corns is a tax adviser and a partner at Mercer & Hole. The views given in this blog are personal to the author.
Date: 28th September, 2009
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