CPDStore

Nov 01, 09:00

Basis Period Reform – Practical and Tax Planning Issues

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Speaker: Rebecca Benneyworth – Rebecca Benneyworth Training

In this session, Rebecca will remind you of the key points about basis period reform and then take you through the more complex issues and tax planning scenarios. Topics to be covered include:
• Basis period reform – what are the new rules about basis periods?
• How is the ‘transitional amount’ taxed?
• Should I change my clients’ accounting dates, And if so when?
• What are the tax planning issues about?
• What happens if my client does not want to change accounting date?

By attending this session, you will update yourself on the basic issues around basis period reform and have the opportunity to examine the tax planning and practical issues in more detail.

Nov 01, 09:55

Inheritance Tax - What You Need to Know

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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.

Nov 01, 11:00

MTD for Income Tax

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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.

Nov 01, 11:55

Update on VAT and SDLT

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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.

Nov 01, 13:30

Planning for the Corporation Tax Increase

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Speaker: Carl Bayley - Author and Presenter

Following all the U-turns of a tumultuous month in the UK tax world, we now know the Corporation Tax rate is increasing from April 2023. In fact, for some companies, the increase is already with us. What can you do to inform and advise your small company clients about the increase, and help them plan to make any available savings.

In this session, Carl will cover:

• A summary of the changes, including the small profits rate and marginal relief
• The transitional rules for company accounting periods straddling 1st April 2023
• The impact of associated companies: good, bad, or indifferent?
• Marginal rate planning: what can companies do to reduce the impact of the increase in the first year
• Interaction with the 130% super-deduction and other capital allowances issues
• Is it worth changing the company’s accounting date to postpone the increase, including a look at seasonal businesses and companies making capital gains
• Both trading companies and property investment companies will be covered

By attending this session, delegates will understand the finer nuances of the new Corporation Tax regime and will be equipped to advise their clients on any planning opportunities available.

The session will be of benefit to general practitioners, tax advisers, and owners of small or medium-sized companies.

Course level: Intermediate.

Nov 01, 14:25

The Latest Developments in SDLT

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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.

Nov 01, 15:30

The New R&D Tax Legislation

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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.

Nov 01, 16:25

The Option to Tax: Pitfalls, Problems, Solutions

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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 topics:

• 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.