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Tax Implications of New Accounting Rules

Last updated: Friday May 13th 2016

The calculation of profits for tax purposes is based on the profits of the business computed in accordance with Generally Accepted Accounting Principles. The introduction of a new accounting standard (FRS 102) means that some of the figures in your accounts may need to be restated and these changes may have tax implications. We will discuss these changes with you and seek to minimise the tax impact where possible.