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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.