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You need to write a letter to HMRC in Glasgow, I think its a Local compliance dept or something like that (they keep changing the place who issue these). Give them details of the business for which you want the certificate. Also you need to tell them the country which it is for (India, Taiwan..) – for each country you need a separate one. You need to confirm on the letter that the company is beneficial owner of the income, you dont have any permanent establishment outside UK and all income is subject to UK CT. And also type of income such as dividents, royalties.. or whatever. Send it to them, wait 3-4 WEEKS!! and they either send it to you or they send you a letter telling you what you have done wrong on the request, send them another letter, wait one month again and you might get it.. Its a real nightmare!! Certificate of incorporation is different document. I dont know what you need it for but our customers overseas need the Certificates of residency. It is to do with withholding tax issues.
i probably wouldnt worry too much about the reclassification.. but i took the bpp course and they were teaching it as if it already took place.. might be worth one point 🙂 .. as long as you put it into the OCI..
Reorganization is.. when the company shifts around capital and loans.. so for example if they have some issued loans and they have accumulated losses – they might offer to the loanholders to pay them under different conditions and give them some share capital as well and also for example cancel existing shares in exchange for less shares – the difference taken of the accumulated losses.. its like oposite of profit distribution.. so the company can start start without the losses .. everyone better off.. Its matter of moving figures between equity and debt..
But to be honest.. i am not clear on the differences between reorganization, restructuring and reconstruction.. not sure if they are more or less synonyms..
There is this other reorganization which happens within group when for example parent owns two subs 100% and then sells one sub to the other sub.. I think the question would be simple if there was any.. its again matter of moving the figures around..
hope i didnt confuse you..
Hi.. the format didnt really change..
There is the difference between item that can be reclasified and items that wont be reclassified.. but it depends if you have both types of items.. on this link it shows how the bottom part of OCI looks like:
https://www.kpmg.com/Global/en/IssuesAndInsights/ArticlesPublications/In-the-Headlines/Documents/In-the-headlines-2011-19.pdfthis is what i posted a bit earlier:
these are the question no.1 as they were over the last 5 years (latest at the bottom):
Cash flow
SOFP
SOFP
Cash flow
SOFP
SOFP
SOCI
Cash flow
SOFP
SOFP
.. i am not making guesses.. but sofp was now twice in a row.. soci was only once in the last 5 years.. CF quite regularly.. so.. i wouldnt ignore it.. its actually probably the easiest out of those three..i think there could be something on fair value – with the current developments.. there was also tip on internal reconstruction as possible topic
with standards.. no idea.. 🙂i have to say i dont feel very confident (i never do though) .. i dont know where they go for these questions.. there is no limit to complications they can come out with 🙂
current issues its not my favourite.. just confuses what i managed to fix into my head.. 🙂
im doing P3 too… that is more interesting reading 🙂just had a look and that provision is actually pension plan… in the note ii) .. so the expense for the period 10 was added back.. but those 4 are actuarial losses which are charged to OCI so they were not deducted when arriving to profit before tax.. so we dont add it back on.. its not included in the profit before tax.. hope it makes sense 🙂 ..
statement of profit and loss and other comprehensive income.. apparently new name 🙂
Cash flow or soploci are not more difficult but most of the questions are on sofp.. so you get to practice it much more.. I dont want to be translating statements either.. 🙂these are the question no.1 as they were over the last 5 years (latest at the bottom):
Cash flow
SOFP
SOFP
Cash flow
SOFP
SOFP
SOCI
Cash flow
SOFP
SOFP
.. i am afraid we are gonna get SOPLOCI or Cash flow.. not happy..
I dont know how they are trying to guess the other questions.. its like forcasting weather in the uk