Business and Personal Finance Dictionary

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• FRS 19
  
  a deferred tax standard. In summary: A. Deferred tax is provided on timing differences relating to: - accelerated capital allowances and depreciation - accruals for and payments of pension and other post retirement benefits - the elimination of unrealized intra group profits - unrelieved tax losses - “fair value revaluations” that are taken annually to the profit and loss account - other short-term timing differences B. Deferred tax is not provided on timing differences relating to: - other fixed asset revaluations, where there is no intention to sell - gains that are rolled over - unremitted overseas earnings, where there is no intention to remit. The FRS 19 Standard also includes further, detailed measurement and disclosure rules.
  
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