Punch Taverns

Impacts Of Changes To Corporation Tax, an emerging issue under IFRS

This report reviews a small sample of UK companies  that disclose the impact of the government’s announced change to corporation tax.

VAT Refund - Income Or A Liability?

We have reviewed the treatment of VAT refunds by a small sample of companies pending a decision by the European Court of Justice.

Change Of Pensions Inflation Index Measure, an emerging issue under IFRS

This report reviews the accounting treatment adopted by those companies that have moved to CPI as the inflation measure on which pension increases are based.

Punch Taverns plc Period End 22 August 2009

Punch Taverns plc Annual Report 2009

Gain on early redemption of debt eases reported loss
UK pub company Punch Taverns records £246 million gain on early redemption of secured loan notes and convertible bonds that reduces pre-tax loss to £406 million.


Share issue structured to record premium within distributable reserves
UK pub company Punch Taverns structures a share issue to avoid company legislation that would normally require share premium to be placed to a non-distributable reserve.