HMRC manual changes: 9 December 2022

Manual	Page	Comments
Business Income Manual	Updated: BIM31020 BIM31025 BIM31029 BIM31045 BIM31050 BIM31055 BIM31080 and BIM31115	Chapter 31000 of the BIM (Tax and accountancy) updated to reflect the introduction of New UK GAAP for accounting periods beginning on or after 1 January 2015 and for the latest accounting standards on various topics. Updates made to: • the meaning of ‘UK generally accepted accounting practice’ in order to include the FRS framework (BIM31020) • the meaning of tax and ‘international accounting standards’ (BIM31025) • state that all references in the guidance on ‘Tax and Accountancy: GAAP’ are to FRS 102 unless otherwise specified (BIM31029) • the guidance on the concept of ‘materiality’ for accounting purposes (BIM31045) • the guidance...

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Manual	Page	Comments
Business Income Manual	Updated: BIM31020 BIM31025 BIM31029 BIM31045 BIM31050 BIM31055 BIM31080 and BIM31115	Chapter 31000 of the BIM (Tax and accountancy) updated to reflect the introduction of New UK GAAP for accounting periods beginning on or after 1 January 2015 and for the latest accounting standards on various topics. Updates made to: • the meaning of ‘UK generally accepted accounting practice’ in order to include the FRS framework (BIM31020) • the meaning of tax and ‘international accounting standards’ (BIM31025) • state that all references in the guidance on ‘Tax and Accountancy: GAAP’ are to FRS 102 unless otherwise specified (BIM31029) • the guidance on the concept of ‘materiality’ for accounting purposes (BIM31045) • the guidance...