LGA in last-ditch warning over rule changes

By Dan Peters | 14 September 2018

Smith Square has warned that planned accounting rule changes could force councils to unnecessarily cut services or raise council tax.

IFRS 9, which has caused concern across the sector ahead of its expected implementation by local authorities in England from April, will force councils to make an adjustment to their revenue account every year to reflect changes in the value of certain investments, even when these changes are on paper only because the investment is not being sold.

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