The following Corporation Tax guidance note by Tolley in association with Malcolm Greenbaum provides comprehensive and up to date tax information covering:
FRS 101 requires virtually identical accounting to IFRS, and consequently the transition will be the same as transitioning from old UK GAAP to IFRS. This is covered in detail in the First time adoption of IFRS guidance note.
IAS 12 Income taxes will be relevant in calculating the current and deferred tax amounts to be recognised under FRS 101. See the following guidance notes for detail on accounting for current and deferred tax under IAS 12:
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