ACCA UK's E-NEWSLETTER FOR MEMBERS IN PUBLIC PRACTICE
AUGUST 2008


Welcome to In Practice Online. This e-magazine complements the printed edition of In Practice and brings you a range of feature articles, technical news and information about ACCA's services and events. Comments, suggestions and feedback is welcome; please use the 'contact us' facility in the bottom right hand corner.

features
Opinion supports the need for professionally qualified accountants
A recent petition posted on the Government’s Number 10 website by a Fellow of ACCA - Alan Shooter - has resulted in over 4,000 signatures.

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ACCA shows support for Westminster's APPSBG
ACCA is now supporting the All Party Parliamentary Small Business Group (APPSBG).

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technically speaking
HMRC issues updated guidance to Money Laundering Regulations 2007
ACCA members and their firms providing regulated services under the Money Laundering Regulations (MLR) 2007, and who are not supervised by ACCA, will need to be supervised by another recognised supervisory authority such as HMRC.

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Non-dom £30,000 levy
The £30,000 non-dom levy was much talked about following its introduction in the 2008 Budget. ACCA has produced two documents to help you and your clients deal with this.

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Changes to tax credit entitlements
yesterday (31 July) was the deadline for tax credits, the date by which HM Revenue and Customs (HMRC) must have be informed of any change in circumstances that could have a bearing on the amount of tax credit entitlement.

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Associated company rules
After lengthy discussions between HMRC and the accountancy profession it has been agreed that S 35 FA 2008 will apply to periods ending after 1 April 2008.

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Personal tax allowance changes
A summary of changes to personal income tax allowances and guidance on communicating this to clients.

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HMRC: agent dedicated telephone lines
HMRC is replacing its agent priority lines with Agent Dedicated Lines (ADLs).

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New FRSSE - important guidance
The revised FRSSE (effective April 2008) reflects the changes required by the Companies Act 2006.

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HMRC guidance for former shareholders in Northern Rock
HMRC has issued guidance on the treatment of Northern Rock shares for former shareholders.

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Finance Act 2008
The Finance Act 2008 received the Royal Assent on 21 July.

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news
ACCA unveils podcast detailing reform to UK company law
ACCA has launched a podcast presented by John Davies, ACCA’s head of business law, outlining a major reform to the Companies Act 2006.

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Understanding how tax knowledge is managed
ACCA is working with an external organisation to help improve everyone’s understanding of how tax knowledge is managed within organisations and would like your input.

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Tax consultations
ACCA wants to hear your views on new tax consultations.

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Have your say
ACCA UK is running an online poll on it’s website for members in the SMP/SME sectors.

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events
September CPD events for practitioners
If you are considering CPD opportunities during September then look no further than ACCA UK’s Professional Courses’ ‘practitioners seminar groups’.

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What's next for expert opinion
ACCA members may sometimes be called upon to act as expert witnesses. Those who are can learn more about this line of work at the Expert Witness Annual Conference.

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