In the third of a four-part series on FRS 102 (2018), Michelle Roberts ACA, senior technical writer at Croner-i, explains the treatment of directors’ loans below market or zero rates of interest

The Scottish government has announced further delays to its flagship plans to introduce an air departure tax (ADT) in Scotland, which would replace UK wide air passenger duty (APD) and offer a 50% reduction on the UK rate, to the fury of local airport operators

Auditors from Deloitte have issued a qualified opinion on the annual results from Ferrexpo, a Swiss headquartered iron ore company with assets in Ukraine, over concerns about possible ‘misappropriation’ of corporate social responsibility (CSR) funds

Pensions trustees have been warned to produce a chair's statement which is compliant with the law, after fines against two schemes were upheld in court

In this month’s tax updates, cases include Loose Women’s star IR35 win while Hustle actor’s Big Bad Wolffe company loses NIC appeal, a taxpayer’s unsolicited tax returns are rejected, HMRC wins £40m Hyrax case, IR35 private sector rules released, Treasury reports on loan charge, HMRC consults on PRR and multinationals face CFC clawback

HMRC has reported total VAT receipts for the first quarter of the year were £34.5bn, 4.8% higher than the same quarter last year, continuing a long-term upward trend

The government has published draft regulations about directors’ remuneration policy and reports, which extend the scope of renumeration reporting to unquoted traded companies and introduce new requirements

Fashion firm French Connection Group has appointed Mazars as its auditor, replacing KPMG which has handled the audit since 1994