Equity and the accountant
Article Abstract:
Great Britain's Business Expansion Scheme (BES) could potentially play an important part in revitalizing the country's small business sector. BES allows taxpayers to invest up to 40,000 pounds sterling annually in unlisted companies, and to write that investment off against their income tax at their highest marginal tax rate. Despite these attractive tax incentives, the BES program has not become widely popular in Great Britain due to the complexity of BES legislation, hostility from the financial press, and indifference on the part of accountants. However, BES should become increasingly popular due to the improved success rate of BES businesses. Accountants can encourage the growth of BES by encouraging their tax clients to invest in BES companies and to develop BES as a source of money for small business.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1988
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Pensions costs - some practical advice: a response to the request for comments on the reform of SSAP 24
Article Abstract:
The Statement of Standard Accounting Practice (SSAP) 24, Accounting for Pensions Costs, allows accountants to select any actuarial method that satisfies stated criteria. However, none of the commonly used actuarial methods aims specifically to define accrued liability. Each method approaches the computation of the future contribution rate differently and arrives at the actuarial liability almost accidently. In accounting for pension costs, accountants apparently have two choices. They can choose to adopt SSAP 24 as is, or they can choose to demand under the same statement that the value of wind-up benefits be considered by the actuarial methods as the accrued liability.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
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