The following Tax guidance note provides comprehensive and up to date legal information covering:
The senior accounting officer (SAO) regime was introduced by section 93 of, and Schedule 46 to, the Finance Act 2009 (FA 2009) with the aim of ensuring that qualifying companies have adequate tax accounting arrangements in place so that the correct tax liabilities are reported to HMRC. The regime applies to financial years beginning on or after 21 July 2009.
To comply with the SAO provisions, an SAO must in respect of the qualifying company or companies for which the person is the SAO:
carry out the main duty during each financial year (or at least for that part of a year) for which the person is the company's SAO, and
provide a certificate to HMRC after the end of each relevant financial year about the appropriateness of the tax accounting arrangements of the relevant company or companies in question
This Practice Note:
details the specific duties and responsibilities that form part of an SAO's main duty to take reasonable steps to ensure that the company establishes and maintains appropriate tax accounting arrangements (ie accounting arrangements that enable the company's relevant tax liabilities to be calculated accurately in all material respects) and, as part of that, considers:
the concept of 'appropriate tax accounting arrangements', and
the meaning of 'accurate in all material respects', and
covers the SAO's obligation to submit a certificate at
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