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Update Brexit Election 2019: A Conservative Government
A Conservative Government has been returned to Westminster. What are the tax implications?
TRADING FOR THE LONG TERM Growing your business through global trade
Despite increasing trade barriers and a rather pessimistic expectation of global economic development, technology and growth opportunities are driving companies internationally in new markets.
INTERNATIONAL BUSINESS REPORT Uncertainty – an elixir for professional services
In times of uncertainty businesses often turn to a trusted confidant, who can diagnose their problems and recommend a course of action to thrive. It is perhaps therefore no surprise that when many sectors are starting to look off colour, the professional services sector is in relatively good health. In this article, we explore the vital signs for the Professional services sector and explore their outlook.
IFRS IFRS 3 - Definition of a Business
In October 2018, the IASB issued ‘Definition of a Business’ making amendments to IFRS 3 ‘Business Combinations’. The amendments are a response to feedback received from the post-implementation review of IFRS 3 (‘the Standard’). They clarify the definition of a business, with the aim of helping entities to determine whether a transaction should be accounted for as an asset acquisition or a business combination. In summary, the amendments: clarify the minimum attributes that the acquired set of activities and assets must have to be considered a business remove the assessment of whether market participants are able to replace missing inputs or processes and continue to produce outputs narrow the definition of a business and the definition of outputs add an optional concentration test that allows a simplified assessment of whether an acquired set of activities and assets is not a business.
Future of Tax Cloudy with a chance of complacency
The OECD’s latest proposals on taxing digital business pull back from the radical roadmap put forward in May to something much closer to the January policy note by proposing a modified residual profit split with benchmarking of routine profits.
IBR R&D as a catalyst for global growth
Research shows that R&D investment is a priority for businesses growing internationally – so how might R&D support your business’s overseas expansion?