ICAEW.com works better with JavaScript enabled.

Retail Community resources

Key resources for community members.

Contents
Back to top

Accounting for leases (IFRS 16)

fountain pen nib paper dotted line revenue leasing FRS 102 ICAEW By All Accounts
Exclusive Revenue and leasing under FRS 102 – the case for change
  • 04 Apr 2023
  • Kate Beeston, Sally Baker
  • By All Accounts
Kate Beeston and Sally Baker examine the arguments for changing the approach to recognising revenue and lease accounting.
ICAEW office building sculpture FRED 82 views By All Accounts
Exclusive FRED 82: first reactions from ICAEW
  • 03 Apr 2023
  • Laura Woods
  • By All Accounts
Laura Woods summarises ICAEW’s preliminary views on the FRC’s proposals set out in FRED 82.
Danielle Stewart young woman FRED 82 preparers ICAEW By All Accounts
Exclusive Proposed amendments to UK GAAP – time to embrace the change?
  • 03 Apr 2023
  • Eddy James
  • By All Accounts
Eddy James talks to Danielle Stewart OBE, partner and Head of Financial Reporting at RSM, about proposed amendments to UK GAAP.
Financial and non-financial reporting in the health sector
  • 24 Nov 2022
  • ICAEW Insights
Legislative delays, new statutory bodies and the introduction of IFRS 16 are all adding to the challenges facing health sector finance teams.
RETAIL COMMUNITY PWC's Inform on IFRS 16 Leases
  • 13 Oct 2022
  • PWC
Topic summary provided by PwC, giving latest developments and overview, a summary of the standard and links to relevant resources.
CIPFA/LASAAC support further deferral of IFRS 16
  • 22 Mar 2022
  • ICAEW Insights
CIPFA/LASAAC do not intend to bring forward proposals to pause operational property valuation in local authority financial statements but recommend further deferral of the implementation of IFRS 16 until 2024/25.
More

Revenue recognition (IFRS 15)

New revenue recognition model for FRS 102 and FRS 105
  • 28 Mar 2024
  • ICAEW Insights
The FRC has issued its latest amendments to UK GAAP, introducing a five-step model for revenue recognition and on-balance sheet recognition for most leases by lessees to FRS 102.
IFRS 15 goes under microscope in four-month consultation
  • 25 Jul 2023
  • ICAEW Insights
IASB review seeks stakeholders’ views on whether revenue recognition standard is working as it should – with costs and benefits of implementation a central concern.
fountain pen nib paper dotted line revenue leasing FRS 102 ICAEW By All Accounts
Exclusive Revenue and leasing under FRS 102 – the case for change
  • 04 Apr 2023
  • Kate Beeston, Sally Baker
  • By All Accounts
Kate Beeston and Sally Baker examine the arguments for changing the approach to recognising revenue and lease accounting.
ICAEW office building sculpture FRED 82 views By All Accounts
Exclusive FRED 82: first reactions from ICAEW
  • 03 Apr 2023
  • Laura Woods
  • By All Accounts
Laura Woods summarises ICAEW’s preliminary views on the FRC’s proposals set out in FRED 82.
Danielle Stewart young woman FRED 82 preparers ICAEW By All Accounts
Exclusive Proposed amendments to UK GAAP – time to embrace the change?
  • 03 Apr 2023
  • Eddy James
  • By All Accounts
Eddy James talks to Danielle Stewart OBE, partner and Head of Financial Reporting at RSM, about proposed amendments to UK GAAP.
butterfly orange blue sky UK GAAP periodic review ICAEW By All Accounts
Exclusive Periodic review results in proposals for major changes to UK GAAP
  • 03 Apr 2023
  • Stephen Maloney
  • By All Accounts
Stephen Maloney summarises the key proposals arising from the periodic review of FRS 102 and other UK standards.
More

Accounting of inventories (IAS 2)

RETAIL COMMUNITY IAS plus on IAS 2 - Inventories
  • Website
  • 07 Jan 2019
  • Deloitte
Overview of IAS 2 provided by PwC, giving latest developments and overview, a summary of the standard and links to relevant resources.
IAS 2 Inventories Inventories prescribes the accounting treatment for inventories; it provides guidance on the determination of cost and its subsequent recognition as an expense, including any write-down to net realisable value.

Plastic Packaging Tax

Tax news in brief 3 January 2024
  • 02 Jan 2024
Highlights from the broader tax news for the three weeks ending 3 January 2024, including: Budget date; council tax changes for Scotland; and plastic packaging tax g-Form for insolvency practitioners.
ICAEW concerned by burden of plastic packaging tax
  • 11 Oct 2023
  • ICAEW
In its response to HMRC’s consultation regarding plastic packaging tax, ICAEW noted that compliance costs often exceed the tax liability.
HMRC consults on changes to plastic packaging tax
  • 07 Aug 2023
  • ICAEW
The consultation explores the application of a mass balance approach to determine the amount of chemically recycled plastic in plastic packaging.
Tax news in brief 17 May 2023
  • 16 May 2023
Highlights from the broader tax news for the week ending 17 May 2023, including: LBTT Green Freeports relief; SA exclusions and special cases; amendments to plastic packaging tax regulations; HMRC’s employment related securities bulletin; making child benefit claims online; and changes to the check when you can expect a reply from HMRC service.
Plastic packaging tax: detailed HMRC guidance on penalties
  • 18 Apr 2023
  • ICAEW
The penalties cover failing to register, submitting a late return, late payments and failing to meet other requirements of plastic packaging tax.
Tax news in brief 5 April 2023
  • 04 Apr 2023
Highlights from the broader tax news for the week ending 5 April 2023, including: tax on state pension arrears; self assessment forms on gov.uk; and the 12-month look back for plastic packaging tax.

VAT

Tax administration and maintenance day summary
  • 18 Apr 2024
  • ICAEW Insights
A new consultation on the VAT treatment of private hire vehicles was among a number of announcements made on tax administration and maintenance (TAM) day.
Tax news in brief 17 April 2024
  • 16 Apr 2024
Highlights from the broader tax news for the week ending 17 April 2024, including: how Labour intends to close the tax gap; a change to the form for reporting a residential property gain; and new HMRC guidance for employers on giving foreign tax relief.
man standing at the top of a mountain looking out over mountain ranges peaks at sunset prink orange sky
Exclusive TAX FACULTY Ways to tackle tax threshold unfairness
  • 04 Apr 2024
  • Patricia Mock and Sally Campbell
  • Taxline
Patricia Mock and Sally Campbell, co-authors with Bill Dodwell of a recent Tax Law Review Committee discussion paper, consider a range of principles to help inform future tax policy.
Tax news in brief 27 March 2024
  • 26 Mar 2024
Highlights from the broader tax news for the week ending 27 March 2024, including: NIC cuts effective from 6 April 2024; guidance on full-expensing; statutory notices to be sent to fishing boat owners; VAT refunds for museums and galleries; and how to recognise genuine contact from HMRC.
HMRC’s VAT online service for agents to be decommissioned
  • 26 Mar 2024
  • ICAEW Insights
Agents should use their agent services account to manage the VAT affairs of all clients going forward.
Tax news in brief 13 March 2024
  • 12 Mar 2024
Highlights from the broader tax news for the week ending 13 March 2024, including: the publication of legislation providing for the Spring Budget NIC cuts; changes made by secondary legislation across a range of areas, including R&D tax relief, PAYE and CIS; new HMRC guidance on ISAs; and the opportunity to claim a refund for Italian VAT paid on goods and services related to Italian business activities.
More

Business rates

Spring Budget 2024: measures for business
  • 06 Mar 2024
  • ICAEW Insights
As promised in the Autumn Statement, the Chancellor used the Spring Budget 2024 to announce a suite of tax relief changes to incentivise and support growth in the UK’s creative sector.
UK Government consults on measures to tackle business rates avoidance and evasion
  • 18 Jul 2023
  • ICAEW
The consultation focuses on proposed changes to prevent abuse of empty property relief and the “next in use” exemption involving charities and community amateur sports clubs (CASCs). It also asks for evidence relating to other rates avoidance and evasion behaviour including the existence of “rogue agents” that promote such behaviour.
Are small retailers drowning in business rates?
  • 10 Jul 2023
  • ICAEW Insights
Retail was one of the industries hit hardest in recent years due to myriad changes, and they’re still struggling. Is regulation holding them back?
Business rates modernisation bill introduced to Parliament
  • 04 Apr 2023
  • ICAEW
ICAEW’s Tax Faculty summarises the key changes contained in the bill.
ICAEW-hosted Labour Business Network analyses Spring Budget
  • 22 Mar 2023
  • ICAEW Insights
Business rates, SME late payments and net zero were among subjects tackled by Shadow Secretary of State for Business and Industrial Strategy, Jonathan Reynolds MP, in an ICAEW-hosted business Q&A.
Significant changes ahead for business rates
  • 21 Mar 2023
  • ICAEW
ICAEW’s Tax Faculty explains the technical changes to the business rates system announced alongside the Spring Budget.

Case law

Legal Alert is a monthly checklist from Atom Content Marketing highlighting new and pending laws, regulations, codes of practice and rulings that could have an impact on your business.
New consultation: Proposed changes to planning rules in England
  • 01 Apr 2023
Landowners, particularly owners of supermarkets and retail parks, developers and estate managers in England are considering possible responses to a government consultation proposing changes to English permitted development rights for planning purposes.
New practice: Risks of ‘offer ends today!’ type advertising highlighted
  • 01 Feb 2023
Businesses should avoid attracting the attention of consumer protection regulators by expressly or impliedly misleading consumers - for example, by saying or implying that customers will miss out on discounts unless they place an order urgently.
New law: Commercial landlords in England face new rules forcing them to let out empty properties
  • 01 Jun 2022
High street and other commercial landlords are considering the potential impact on their businesses of government plans to allow local authorities to force commercial landlords to rent out their empty properties, announced in the recent Queen’s Speech.
New law: New food labelling laws for retailers in England, Wales and Northern Ireland from October 2021
  • 01 Jul 2021
Food retailers such as coffee shops and takeaways in England, Wales and Northern Ireland are preparing for new labelling law for ‘prepacked food for direct sale’ from 1 October 2021.
New law: Businesses making white goods, electric cars and other energy products face new eco-design and labelling rules
  • 01 May 2021
Businesses making consumer products such as energy white goods and electric cars in the UK face new laws such as a legal right to repair, more stringent energy efficiency requirements and new energy labelling from summer 2021, subject to a (yet to be confirmed) transitional period.
Disclaimer

These publications from Atom Content Marketing are for general guidance only, for businesses in the United Kingdom governed by the laws of England. Atom Content Marketing, expert contributors and ICAEW (as distributor) disclaim all liability for any errors or omissions.

Payments

RETAIL COMMUNITY Retail payment systems and payment costs
  • 13 Oct 2022
  • Centre for Retail Research
The Centre for Retail Research provides an overview of the payment systems used in retail and traces some of the problems that have been encountered.

Cryptocurrencies and blockchain

How to overcome the digital euro challenge
  • 15 Apr 2024
  • ICAEW Insights
As the digital revolution continues apace, plans for a digital euro offer significant benefits for society. Meglena Grueva looks at the journey from theory to practice.
Introduction to blockchain and crypto asset taxonomy
  • 10 Apr 2024
  • ICAEW
A selection of popular questions asked by delegates during the webinar: Introduction to blockchain and crypto asset taxonomy.
Blockchain webinar series 2024
  • 13 Mar 2024
  • ICAEW
Accountants are increasingly coming across crypto assets and as they become more mainstream, it is important to be clear on the fundamentals of what they are and how they operate.
Cryptoassets: new ICAEW guidance and government consultation
  • 11 Mar 2024
  • ICAEW Insights
ICAEW’s Tax Faculty has published two TAXguides on the taxation of cryptocurrency. The government is consulting on the implementation of the Cryptoasset Reporting Framework.
FASB issues crypto asset standard
  • 23 Jan 2024
  • ICAEW Insights
New requirements will create a divergence from the current requirements of IFRS Accounting Standards and UK GAAP.
Self assessment tax returns for cryptoasset holders
  • 09 Jan 2024
  • ICAEW
Individuals who received, sold or exchanged cryptoassets may be subject to income tax or capital gains tax (CGT) that should be reported on a self assessment tax return, due by 31 January 2024.
More

Insolvency and restructuring

RETAIL COMMUNITY Who's gone bust in retailing 2007-2023?
  • 01 Jan 2023
  • Centre for Retail Research
Analysis and listing of the main retail failures since 2007, produced by the Centre for Retail Research.
Construction & Real Estate polaroid
Exclusive CONSTRUCTION AND REAL ESTATE COMMUNITY 2021 a new reckoning for the high street: the wider perspective
  • 21 Apr 2021
  • Construction & Real Estate Community
Our speakers shared their views on the wider impact of the demise of many high streets on landlords, investors and lender.
Exclusive RETAIL COMMUNITY Company Voluntary Arrangements (CVA): a retailer’s perspective
  • 20 Apr 2021
  • Paul Bedworth, Finance Director, Ann Summers & John Boyle, CFO
In this article Paul Bedworth and John Boyle answer some of the extra questions that came in from the audience during the webinar "Company Voluntary Arrangements (CVA): a retailer’s perspective".
Understanding insolvency and restructuring in retail and hospitality
  • 10 Jul 2020
13 July: the retail and hospitality sectors have been among the hardest hit by the lockdown measures. What are the warning signs for employees, suppliers and customers?
Exclusive Demystifying restructuring processes in retail and hospitality
  • 25 Nov 2021
  • ICAEW
This webinar looked at restructuring and administration processes commonly seen in the retail and hospitality sectors, and consider what businesses can do if they have concerns about their long-term viability or that of their key customers and suppliers.
RETAIL COMMUNITY Briefing paper on Company Voluntary Arrangements
  • 11 Jun 2019
  • House of Commons
House of Commons June 2018 briefing paper providing a detailed overview of the CVA procedure and a summary of the impact of recent changes in legislation.
RESTRUCTURING AND INSOLVENCY COMMUNITY Company Voluntary Arrangements: An effective tool for business rescue?
  • 01 May 2018
  • PDF (1,826kb)
  • Peter Walton, Lezelle Jacobs, Chris Umfreville
This R3 and ICAEW sponsored research carried out by Professor Peter Walton and Dr Lezelle Jacobs of the University of Wolverhampton and Chris Umfreville of Aston University was published in May 2018. The research looks at the outcome of the 552 CVAs started in 2013 and makes eight key recommendations.
Exclusive BUSINESS AND MANAGEMENT FACULTY Retailers in distress
  • 13 Apr 2018
  • PDF (135kb)
  • David Parsley
  • Business and Management
With some high-profile businesses hitting the rocks in recent months, it’s time to take a fresh look at how to head off crisis. David Parsley investigates.
More

Industry press

The ICAEW Library & Information Service provides a hand-picked collection of industry press articles as a benefit of ICAEW membership. If you are unable to access an article, please see our Online resources troubleshooting or contact library@icaew.com.

Exclusive Investors bet on London's Oxford Street bouncing back
  • Article
  • 16 Feb 2024
  • Elina Ganatra, Katie Linsell
Oxford Street's shops have seen a steady recovery, with visitors bouncing back strongly in 2023. The recovery is attributed to improved retail and leisure offerings, as well as the opening of new stores and the introduction of the Elizabeth Line. While footfall remains below pre-Covid levels, investors are showing interest in the area, and retailers including HMV, Ikea and Krispy Kreme Doughnuts have opened or are due to open new stores.
Exclusive Brits can't stop buying cakes and cheap clothes
  • Article
  • 23 Jan 2024
  • Leonard Kehnscherper
December 2023's drop in retail sales and the unexpected rise in inflation caused some industry experts to fear that consumers' resilience is wilting. But it seems that doesn't apply to cheap fashion and sweet treats. Primark reached its highest ever market share in the final months of 2023, while a jump in Cadbury cake sales helped Premier Foods deliver a 21% jump in its sweet treats division.
Exclusive UK Christmas retail sales disappoint as shoppers pull back
  • Article
  • 09 Jan 2024
  • Elina Ganatra, Katie Linsell
UK Christmas retail sales were disappointing, growing only 1.7% in December compared to almost 7% growth the previous year. Weak consumer confidence and higher inflation were cited as reasons for the sluggish sales. However, food sales increased by 6.8% in the three months leading up to December, and discount retailers like Aldi and Lidl performed well. The difficult retail environment is expected to continue due to higher living costs and other factors.
Exclusive Europe's mobile payments muddle
  • Article
  • 01 Jan 2024
  • Dominic O'Neill
Article on the development of mobile payment schemes in Europe and the efforts to establish a cross-European payments company to compete with big US players like Visa and Apple Pay. The European Payments Initiative (EPI) was created by large European banks to strengthen Europe's control over its financial systems. However, differing domestic interests have limited its reach, and a rival Spanish/Italian/Portuguese joint scheme is also moving forward.
Exclusive UK retailers report weak Christmas trading, CBI survey finds
  • Article
  • 21 Dec 2023
  • Tom Rees
UK retailers have reported a decline in sales during the Christmas 2023 trading period, indicating a potential weakening of the UK economy. Retailers anticipate a contraction in sales during January 2024 and are expected to reduce their orders in January.
Exclusive Weaker UK retail data puts risk of recession back on table
  • Article
  • 18 Dec 2023
  • Tom Rees
The threat of a recession looms over the UK economy as weaker retail sales data may lead to a downgrade of previous GDP estimates. The UK's near-term outlook ranges from tepid growth to a minor recession. However, there are signs of potential recovery, such as easing inflation, real wage growth, and improved consumer and business confidence.
Exclusive Mixed picture
  • Article
  • 01 Dec 2023
  • Johanna Thomson
A look at some trends in UK retail during 2023. These include price-marked packs (PMP) ranges to build consumer confidence, healthier versions of favourite ranges, plant-based offerings and meal deal items to make 'fake-aways' with.
Exclusive Unattended retail options pegged as a secure saviour for small businesses, survey reveals
  • Article
  • 01 Nov 2023
Vending machines and unmanned retail services are growing in popularity with UK consumers, giving small businesses a lifeline to much needed ancillary revenue, according to the results of a newly released survey. For the consumer, it’s clear that convenience and availability are the primary drivers of unattended retail usage, with consumers increasingly relying on these services to meet out-of-hour or unplanned needs - and also to avoid social interactions.
Terms of use

You are permitted to access articles subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

More

Market research

The ICAEW Library & Information Service provides access to industry profiles and market reports as a benefit of ICAEW membership. See our Industry guides for a more comprehensive selection of market research resources for a wide variety of industries, including electrical retail, food retail and retail banking. If you are unable to access a report, please see our Online resources troubleshooting or contact library@icaew.com.

Exclusive Online retail in the United Kingdom
  • Jan 2023
  • MarketLine
An industry report on online retail in the UK, providing market data analysis and forecasts, with data on the competitive landscape and key players.
Exclusive Toys & games retail in Europe
  • Dec 2022
  • MarketLine
An industry report on toys and games retail in Europe, providing market data information and forecasts, including analysis of the impact COVID-19 is having on the leading industry players.
Exclusive Toys & games retail: Global
  • Dec 2022
  • MarketLine
An industry report on global toys and games retail, providing market data analysis and forecasts, including analysis of the impact COVID-19 is having on the leading industry players.
Exclusive Apparel retail in the United Kingdom
  • Nov 2022
  • MarketLine
An industry report on apparel retail in the UK, providing market data analysis and forecasts, with data on the competitive landscape and key players.
Exclusive Apparel retail in Europe
  • Nov 2022
  • MarketLine
An industry report on apparel retail in Europe, providing market data analysis and forecasts, with data on the competitive landscape and key players.
Exclusive European retail real estate: successfully navigating a world in transition
  • Mar 2019
  • International Council of Shopping Centers
  • Industry Insights - Industry Sector Series
A report on major trends currently impacting the fast-changing European retail real estate industry.
Terms of use

You are permitted to access articles subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

eBooks

The ICAEW Library & Information Service provides a hand-picked collection of eBooks as a benefit of membership. If you are unable to access an eBook, please see our Help and support or contact library@icaew.com.

Exclusive Building a narrative
  • 2017
  • Aswath Damodaran
  • Columbia University Press
This chapter explains how to build a persuasive business story, with case studies from Uber, Ferrari, Amazon and Alibaba.
Exclusive Big data in practice: how 45 successful companies used big data analytics to deliver extraordinary results
  • 2016
  • Bernard Marr
  • Wiley
Offers an in-depth insight into how specific companies use big data.
Exclusive Reliefs from import duty
  • 2016
  • Andrew Rimmer
  • Spiramus
  • Trading Places - VAT and Customs
This chapter covers the schemes which offer goods relief from EU customs duty.
Exclusive Competing in tough times: business lessons from L.L.Bean, Trader Joe's, Costco, and other world-class retailers
  • 2010
  • Barry Berman
  • Pearson
A guide to winning business strategies for retailers.
Terms of use

You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

Thought leadership

Our thought leadership is intended to change thinking and behaviour. We want to help our members do their jobs as best they can. Ultimately, this will enable a world of sustainable economies.
Find out more
Rodin's The Thinker
Information

Some of the content on this web page was provided by the Chartered Accountants’ Trust for Education and Research, a registered charity, which owns the library and operates it for ICAEW.