Distributable profits – updated guidance
This webinar provides an overview of TECH 02/17BL – the updated ICAEW and ICAS guidance on distributable profits. Broadcast 21 September 2017.
ICAEW and ICAS have issued jointly an updated guidance, in the form of TECH 02/17BL, to assist companies in determining whether profits made are realised and can be paid out as dividends.
The revised guidance, which replaces TECH 02/10, has been updated to take into account changes to IFRS and UK accounting standards. Substantive changes have been made to the guidance on accounting for intragroup off-market loans and retirement benefit schemes. Clarity has also been provided on the application to long-term insurance businesses as a result of Solvency II.