May 17, 2010

Assessing New Rules Regarding the Personal Obligation of Senior Accounting Officers of Large Companies

Frequently Asked Questions Regarding Schedule 46 FA 2009

Effective for 2009, HM Revenue & Customs (HMRC) has introduced Schedule 46 of Finance Act 2009. The aim of this new legislation is to ensure that senior accounting officers (SAO) of large companies liable to taxes and duties in the United Kingdom are responsible for ensuring and certifying that appropriate tax accounting arrangements have been established and maintained. This publication answers 34 common questions and provides a suggested roadmap to compliance.