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December 18, 2014

Comments sought on proposed amendments to IAS 7

An exposure draft containing proposed amendments to IAS 7, Statement of Cash Flows, has been published by the IASB.

December 18, 2014

Further improvements to effectiveness of disclosure in financial reporting made

Amendments to IAS 1, Presentation of Financial Statements have been issued by the IASB as part of its major initiative to improve presentation and disclosure in financial reports.

December 18, 2014

Consultation mounted on impact of EU Audit Directive and Regulation on auditing and ethical standards

A consultation has been issued on options for amending the FRC’s framework of auditing and ethical standards for auditors to give effect to the EU Audit Directive and Regulation.

December 16, 2014

EU VAT changes from January 1, 2015

The VAT threshold of £81,000 is being removed from online businesses as a result of EU VAT legislation that will come into effect on January 1, 2015.

December 16, 2014

FCA announces consultation of ‘independent’ and ‘restricted’ advice labels

Following the first post-implementation of the retail distribution review (RDR) the FCA has said that whilst the RDR is “on track” it will consult on whether there are better ways to improve consumer understanding of advice, in particular ‘independent’ and ‘restricted’ advice.

December 12, 2014

Changes being made to rules governing company and business names

New regulations are due to come into force from 31 January 2015 governing the choice of company and business names.

December 12, 2014

CJEU: Data Protection Directive applies to Home Video Surveillance of Public Road

Ryneš Case C-212/13 This was a preliminary reference from a court of the Czech Republic concerning the interpretation of the Data Protection Directive (95/46/EC). The applicant had a surveillance camera on the family home directed at the public pavement as the home had been subjected to a number of attacks by unknown assailants.

December 8, 2014

Changes to EU data security regulations in 2015

In 2015 UK firms could be exposed to fines of up to €100m or five per cent of their annual worldwide turnover for failure to comply with data safety rules due to changes in EU data security legislation that are expected to come into force in 2015.

December 6, 2014

Accelerated start-up rate in 2014

Figures released at the beginning of November from the national enterprise campaign (run by the Centre for Entrepreneurs think tank), show that 498,176 businesses have been started in 2014. This is more than for the same period in 2013 with the 500,000 mark being hit by mid-December 2013.

December 5, 2014

Construction Products Association responds to Chancellor’s Autumn Statement

Dr Diana Montgomery, Chief Executive of the Construction Products Association (CPA), responds to the chancellor's Autumn Statement .

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