Duties of a senior accounting officer (SAO)
Duties of a senior accounting officer (SAO)

The following Tax practice note provides comprehensive and up to date legal information covering:

  • Duties of a senior accounting officer (SAO)
  • Main duty
  • Tax accounting arrangements
  • Appropriate tax accounting arrangements
  • Accurate in all material respects
  • Reasonable steps
  • Establishing, maintaining and monitoring processes
  • Delegation
  • Tax sensitive judgements
  • Standing data
  • More...

Coronavirus (COVID-19) impact on SAO rules: Because of the effect of coronavirus on businesses, the filing deadline for submitting the SAO notification and certificate has temporarily been extended by three months and, since the SAO regime applies to corporation tax, HMRC has confirmed that SAOs of qualifying companies must ensure that the companies have appropriate accounting arrangements for any coronavirus job retention scheme grants and the wages they cover. For more information, see Practice Note: Coronavirus (COVID-19)—tax implications—Senior accounting officer rules.

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:

  1. 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

  2. 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:

  1. details the specific

Popular documents