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Sep 20, 09:00

Key Tax Update

Speaker: Rebecca Benneyworth - Rebecca Benneyworth Training

In this session, Rebecca Benneyworth will take you through the announcements made by the incoming team at No 11 Downing Street and the Treasury and also remind you of any changes previously announced which need actioning in the next 6 months.

The specific content of this session will depend on the announcements made in mid-September and will come to you ‘Hot off the press’ but are likely to include:

• Personal income tax changes
• Changes to corporation tax
• VAT and other indirect tax measures
• Capital tax changes announced
• What is expiring between now and April 2023? Get it before it is gone!

Those attending will gain a full update on all of the new measures announced by the incoming Chancellor and their Treasury team, drawing together a range of announcements and announcements made at a fiscal event due to be held just before the date of the conference.

The session will also remind you of any tax provisions which will terminate or expire within the next 6 months, so that you are fully up to speed on the key issues of the moment.

Sep 20, 09:55

Inheritance Tax – What You Need to Know

Speaker: Megan Saksida - Meganomics

Can I give my house away and still live in it? Is the nil rate band £1m? What is the backwards shadow? Is paying for school fees or a wedding a gift? These are just some of the questions you may have received from clients on inheritance tax. As Britain’s most hated tax and often referred to as an “optional tax”, there are several ways the charge can be legally mitigated. But there are also several pitfalls and bear traps to avoid. This fast paced and informative session will help you identify the ways your clients can successfully plan to maximise the exemptions and reliefs without making any costly mistakes.

In this session, Megan Saksida will cover the following:

• Lifetime transfers - how to value the gift
• Lifetime transfers- exemptions and reliefs
• Lifetime transfers- what to watch
• The death estate- exemptions and reliefs
• The death estate- what to watch

By attending this session you will be able to confidently advise your clients on the most IHT efficient way to structure a gift their home and other assets, on how best to value these lifetime gifts and how to hold them between joint parties. You will also learn how to advise on the implications of keeping property until they pass away, and the factors to consider in deciding which strategy to take.

Sep 20, 11:00

MTD for Income Tax

Speaker: Lenny Barry & Govinder Saimbhi - HMRC

This session will provide the most up to date information in regards to Making Tax Digital for VAT and Income Tax Self Assessment.

Take the opportunity to ask questions and have them answered by those in the know!

Accountants are familiar with MTD VAT, and now signing up those below the VAT threshold. MTD for Income Tax Self Assessment is not that far aware, is a lot more complex than VAT and preparations need to be thought about now!

Making Tax Digital brings changes for many taxpayers, and Agents have the opportunity to look at changes and improvements within their own practice, and bring clients with them into the digital future.

Attendees should leave with more information, more to think about and plan for and take up the challenge of having their practices, and clients, beginning to get prepared.

In this session, Lenny Barry and Govinder Saimbhi from HMRC will cover:

• The fundamentals of MTD for Income Tax Self Assessment
• What does it mean for Accountants
• What does it mean for clients
• What to do now
• What to prepare for

By attending this session, you will:

• Know what MTD for Income Tax Self Assessment is.
• What you need to consider for your practice
• What you need to consider for your clients
• Prepare a plan and way forward.

Sep 20, 11:55

Update on VAT and SDLT

Speaker: Jason Croke - Rayner Essex

A VAT update to reflect some new procedures for registering for VAT as agent, the transition from CHIEF to CDS (customs/duty) and proposed changes to SDLT legislation which could come into force next year.

Useful for agents who register clients for VAT. Even if not familiar with customs duty, knowing the procedures clients may need to entail will help Accountants guide clients through the new style HMRC screen formats.

In this session, Jason Croke will cover the following:

• Agent VAT Registration Process – new process (from 01 August 2022)
• Customs Declaration Service (CDS) and duty deferment account (from September 2022)
• Energy Saving Materials – VAT update
• SDLT – Potential changes to legislation
• New VAT penalties (from 01 April 2023)

By attending this session, you will gain an understanding of the new agent VAT registration process and its limitations, how to guide a client to update from CHIEF to CDS import procedures and update their duty deferment account and clarity on energy saving materials which saw a VAT rate change earlier this year. SDLT section outlines proposed changes following HMRC consultation.

Sep 20, 13:30

What Will Tax Cuts Mean for Your Clients: A Look at Some (Perhaps) Unintended Consequences

Speaker: Carl Bayley - Author and Presenter

Our new Prime Minister is going to cut taxes: that much is certain. But how much and when is less clear and depends very much on who they turn out to be and what the country can realistically afford. A cut in the basic rate of income tax seems likely and, at face value, appears to be good news for everyone: but your clients may be affected in ways they do not expect, and you need to be ready to advise them.

In this session, Carl Bayley will cover:

• What we know: the basic shape of known or anticipated tax cuts and brief summary of overall impact on taxpayers
• Pension contributions: will they be more or less valuable, should clients look to accelerate or delay them
• Gift Aid: the impact on both donors and charities, give now or hold off?
• Landlords’ interest and finance costs: why a cut in the basic rate will mean some landlords are paying more tax
• Business incorporation: what does the tax cut mean for small business owners looking to incorporate
• Profit extraction: what does the tax cut mean for small company owners looking to pay themselves tax efficiently

By attending this session, delegates will understand the issues created by a cut in the basic rate of income tax and how to assist their clients in optimising their position as tax rates fall.

Sep 20, 14:25

The Latest Developments in SDLT

Speaker: Peter Rayney - Peter Rayney Tax Consulting

Stamp duty land tax (SDLT) has become a very important and expensive tax and affects almost all property transactions. This session provides a clear understanding of basic SDLT concepts and principles together with an update on recent developments in the tax.

In this session, Peter Rayney will cover the following topics:

• The building blocks of SDLT
• Special aspects of the residential property regime and Multiple Dwellings Relief
• SDLT aspects of incorporating a property rental business
• Intra-group transfers and SDLT group relief
• SDLT reliefs available on common company reorganisation transactions

This session will enable you to approach SDLT queries with more awareness and confidence.

Sep 20, 15:30

The New R&D Tax Legislation

Speaker: Simon Briton - Quantify.tax

In this session, Simon Briton of Quantify will cover recent changes to Research & Development Tax legislation, hot topics, and reliefs.

More details to follow.

Sep 20, 16:25

The Option to Tax: Pitfalls, Problems, Solutions

Speaker: Neil Owen - VAT Advisory Services Limited

In the world of VAT and property, the option to tax is frequently encountered and not infrequently misunderstood in some ways. When advising clients on the purchase or sale of property, an appreciation of the effects of the option to tax and the circumstances where it is or is not needed is crucial. This session seeks to clear away some of the misunderstandings and chart a clear path to deciding when and how an option to tax is appropriate and, just as importantly, when it is not.

In this session, Neil Owen will cover the following:

• When an option to tax is and isn’t needed
• Exercising an option to tax
• Notifying an option to tax (including belatedly)
• Revoking an option to tax
• The disapplication of the option to tax

By attending this session you will be able to appreciate the significance and use of the option to tax and its implications for property-owning businesses.