ILFM: Lunch & Learn: Changes to UK Generally Accepted Accounting Practice (GAAP)

How will changes to the UK Generally Accepted Accounting Practice (GAAP) impact legal sector accounts and tax liabilities

The changes to FRS 102 (The Financial Reporting Standard applicable in the UK and Republic of Ireland) come into effect on 1 January 2026. These changes are likely to have a significant impact on the way that law firms recognise income as well as leases, the disclosures for small company accounts, potentially affecting profits and partners tax liabilities.

Tom Alun- Jones and Ian Harlock-Smith will explain the changes and discuss what you can be doing in advance to prepare.