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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) in the United Kingdom 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 paper addresses frequently asked questions regarding the new HMRC legislation, including a review of key steps to achieve compliance.

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