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03 November 2004 / David Nickson , Stephen Davies
Issue: 3982 / Categories: Comment & Analysis
DAVID NICKSON and STEPHEN DAVIES consider how international accounting standards are impacting the taxation of intangibles.

All Change!

IN OUR SECOND article (see Taxation 19 August 2004 page 526) we considered partnerships and the taxation of intangibles and how the form of partnership structures can affect relief under FA 2002 Sch 29. In our third and final article on intangibles we draw attention to the impact of forthcoming changes in financial reporting (accounting standards) on the taxation of intangibles under Sch 29.


For accounting periods beginning on or after 1 January 2005 companies within the European Union (EU) with securities admitted to trading on a regulated market of any EU Member State will have to produce group (i.e. consolidated) accounts in accordance with adopted International Financial Reporting Standards (IFRS). In the UK it is expected that such companies will also be permitted to adopt IFRS in their individual accounts and that other UK companies will...

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