Basis for Conclusions on IAS 39 Financial Instruments: Recognition and Measurement Croner-i Tax and Accounting

Marking substances and composite solutions may be used to mark oil only in approved duty-suspended warehouses or remote marking premises. With the claim you should enclose the oil suppliers’ invoices noted with the rate of duty-paid, or other evidence of duty payment acceptable to us — you may wish to discuss this with HMRC. You should complete application form HO53 and send it to the Mineral Oil Reliefs Centre. Use a separate form for each set of premises where oil is used for a qualifying purpose. For new plant we do not allow use of oil without prior payment of duty if the criteria in the previous paragraph is not satisfied. However, if there is a reasonable prospect that the qualifying use percentage will exceed 33.3 we will defer the final decision until there is data of actual operations.

Similarly, the definitions for Part 40 are not listed in Schedule 8 to the Act. This section, which replaces section 715A of the 1985 Act, provides that “document” means information recorded in any form, and that “delivering” a document includes forwarding, lodging, registering, producing or submitting it, or giving a notice. It also provides that requirements relating to documents also apply to information passed to the registrar in some other way. This caters for the possibility that information may not be in documentary form, for example when it is sent via a link to a website. There are however a variety of other pieces of legislation which may require companies in certain circumstances to supply material to the registrar.

14 Goods delivered on duty payment from a motor or heating Fuel Duty-suspended warehouse

The guarantee is additional to, and separate from, any other security required (for example, security for goods, premises, or deferment ex-ship). Applicants must make clear on form C1200 that the type of deferment approval required is delivery from a fuel warehouse. Section 127A of CEMA, section 21 of HODA, and the Excise Duties Regulations provide that the payment of excise duty on fuel may be deferred subject to certain conditions imposed by HMRC. This applies also to Avtur at the front of a pipeline movement which is designated as kerosene — usually referred to as a ‘buffer’ volume. A repayment of the rebate may be claimed when the product has been marked at an registered remote marking premises at its destination.

Filing timescales in other countries are generally less generous than in the UK. Under subsection , whether a company is private or public for the purpose of its filing obligations is determined by its status immediately before the end of the relevant accounting retail accounting reference period. The requirement to disclose information about related undertakings in the notes to a company’s annual accounts applies whether or not the company has to produce group accounts but there are different disclosure requirements in each case.

8 Telling HMRC about the method and equipment you use to measure product for revenue purposes

It is concerned with the manner in which rights attached to a class of shares may be varied. Class rights typically cover matters such as voting rights, rights to dividends and rights to a return of capital on a winding up. Where a company reduces its share capital under this section, the amount by which the company’s share capital is reduced must be transferred to a new non-distributable reserve . A company is free to pass a conditional resolution under this section (see subsection ).

• Thanks Lorna for these fine pictures, and C Yates and R Reid for the suggestions that the last three letters possibly/probably stand forOvercome By Events/Overtaken By Events.
• All Day I Dream About Sex/All Day I Dream About Shoes.Perhaps the best of the wonderful ADIDAS backronyms .
• Most businesses track their financial results on a monthly basis, so each accounting period equals one month.
• The rule is that a signature on a document in hard copy form by the person sending it is always sufficient authentication.

This section replaces section 28 of the 1985 Act and, insofar as they support that subsection, section 28 and . It provides power for the Secretary of State to direct a company to change its name within a specified period in two circumstances. First, if misleading information was given to enable the adoption of the name. Second, if an undertaking or assurance given to enable the adoption of the name has not been fulfilled. The direction can only be made up to five years after the adoption of the name.

4 Obtaining approval to mix oil in pipeline systems

In order to ensure certainty, it provides that a contravention of a rule based requirement does not make a transaction void or unenforceable and does not affect the validity of any other thing. As currently, transactions will be capable of being set aside or unravelled in cases of, for example, misrepresentation or fraud. This section confers on the Panel the power to make rules providing for financial redress (together with interest ) in consequence of a breach of rules which require monetary payments to be made . To the extent and in the circumstances specified in the rules, a ruling of the Panel has binding effect unless reviewed by the Hearings Committee or successfully appealed to the Takeover Appeal Board in accordance with rules made under section 951. It is envisaged that rules made under sections 943 and 944 will address matters such as notice to parties and right of representation of persons who might be bound by a Panel ruling.

Since 1968, takeover regulation in the UK has been overseen by the Takeover Panel administering rules and principles contained in the “City Code on Takeovers and Mergers”. In order to bring UK takeover regulation within the requirements laid down in the Directive, Part 28 of the Act is designed to place it within a complete and coherent statutory framework. Section 1292 provides that regulations or orders may make different provision for different cases or circumstances, may include supplementary, incidental and consequential provision, and may make transitional provision and savings. This section amends paragraph 3 of Schedule 3 to the Commonhold and Leasehold Reform Act 2002 so as to limit the application of the provision to alterations made at a time when the land the association is established to manage is commonhold land. This provision amends Part 9 so as to enable public authorities to disclose information for the purposes of civil proceedings or otherwise for the purpose of establishing, enforcing or defending legal rights. This covers the exercise or non-exercise of voting rights, instructions given by the institution and any delegation of a function related to the exercise or non-exercise of voting rights.

Need to know — Periodic review of FRS 102

Each quantity returned is to be shown in the accounts and included in the warehouse stock. The accounts should contain details of the quantity of oil on which credit of duty has been claimed, and the rate of duty applicable in accord with HMRC provisions . Each importer, warehousekeeper, motor and heating fuel producer or person approved for remote marking of fuel under the duty deferment arrangements must keep the accounts, records and documents specified in this notice at the premises https://www.thenina.com/retail-accounting-as-a-way-to-enhance-inventory-management/ to which they relate, and produce them to HMRC on demand. The effective interest rate is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument to the net carrying amount of the financial asset or liability. Financial assets that are not carried at fair value though profit and loss are subject to an impairment test. If expected life cannot be determined reliably, then the contractual life is used.

(During his formative years – nor now for that matter – PDA was not the done-thing in the royal household.) PDA is actually very good for the soul, whether you’re a royal or not. Alternative meaning -Personal Digital Assistant – which is not nearly so interesting. Highly amusing healthcare abbreviation to describe a condition suffered by clinical staff. Proctodynia is the medical term for rectal pain, so a patient/colleague who is very demanding/unreasonable is a pain in the backside for the other staff, causing them PBP. The PBP expression is therefore extremely transferable to all types of work, relationship and service situations. Plumbum Oscillans.Very clever mock Latin phrase equating to’swinging the lead’, meaning pretending to be ill, or generally avoiding work by some other means.