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Accurate Tax Reporting

Ed Dwan Tony Spillett and Lucy Sauvage of BDO Stoy Hayward's Tax Risk Management division discuss the incoming reporting duties for Senior Accounting Officers of large companies
Budget 2009 announced the surprise introduction of legislation requiring the 'Senior Accounting Officer' (SAO) of all 'large companies' to provide personal certification that they have taken 'reasonable steps' to ensure that the accounting systems of the company are adequate for the purposes of accurate tax reporting. These obligations are to be taken into effect for accounting periods beginning on or after the date that Finance Bill 2009 receives Royal Assent.
We understand that this measure has arisen not from any HMRC incentive but as HM Treasury's response to the significant focus given to corporate regulation and transparency in the G20 summit...

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