ACCA has recommended that the British government not pursue that approach. The ACCA research report,
A Conceptual Framework for the Taxable Income of Businesses, and How to Apply it under IFRS, by Professor Christopher Nobes of Reading University, examines the advantages and disadvantages of conforming tax practice with financial reporting practice and concludes that tax and financial reporting should have separate rules and, therefore, be disconnected. The full report may be downloaded from
ACCA's Website (PDF 248k). Click for
Press Release (PDF 22k).