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Tax, Accounting And Accountants

Assimilating accounting practice into the tax code is gathering pace. Lakshmi Narain, Tax Director, National Tax, Baker Tilly, writing as Chairman of the CIOT's London Board Bloomsbury Street Tax Discussion Group, comments on the issues

 
Assimilating accounting practice into the tax code is gathering pace. Lakshmi Narain Tax Director National Tax Baker Tilly writing as Chairman of the CIOT's London Board Bloomsbury Street Tax Discussion Group comments on the issues
 
The need to prepare tax computations by reference to accounts appears to be exceedingly inefficient. When so many hours of technical expertise have been deployed in preparing and evaluating financial statements so as to meet the requirements of Company law and a range of users including the taxing authorities why not just take the profits per the accounts and...

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