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Spring Tax update 2021

Northern Society of Chartered Accountants www.norsca.co.uk

An essential update for all practitioners and staff involved with clients affected by tax issues, as well as tax specialists.

This course aims to keep your technical knowledge up to date to comply with the ever-changing regulatory environment. The course is intended not only to alert you to regulatory changes, but to highlight points which can be used in practice.

Course information

By the time of the Course, Brexit will have happened and, hopefully, the Covid-19 Pandemic should be easing. We will have had a Budget to make up for not having one in the Autumn. Will this be the “Great Reform Budget” that has been threaten to change capital taxes in the UK?
Whether a “major or a minor” Budget, all the above factors will combine to give a considerable amount of content to cover!

Content
These courses aim to provide delegates with a practical and intensive review of developments over the last six months as well as changes likely to occur in the near future.
This course aims to cover the following topics:

Tax announcements in 2021 Spring Budget;
What is in the resultant Finance Bill?;
Is there anything our clients should be doing now in the light of “Brexit” ;
Where are we on MTD and how should we be preparing our firms and our clients;
Where are we on the “level playing field” like the extension of IR35, the NMW/NLW etc?;
Recent Tax cases and HMRC pronouncements;
VAT developments;
Other regulatory announcement affecting the Tax Profession such as on AML, CCOs, PCRT, DAC 6 and all the other regulatory matters where we have to keep up to date.

This course is specifically designed to meet the needs of general practitioners, concentrating on matters that really affect your clients.

Cost

Rate	Cost
ICAEW Member	£90.00 + VAT
Non-Member	£90.00 + VAT
Retired Member	£45.00 + VAT
Career Break Member	£45.00 + VAT

Northern Society is offering delegates a 1/3rd off all of its live webinars up to 30 August 2021.

Northern Society of Chartered Accountants www.norsca.co.uk

An essential update for accountants involved in the provision of advice to clients particularly in the area of estate planning, successions in OMBs.

Following the March 2021 Budget, we will know whether the Chancellor was able to introduce his “Great Reform Budget” to “simplify” Capital Taxes. In this case, the course will deal with these changes. If the economy has not recovered sufficiently to allow these reforms yet, we will need to look as we come out of Covid and Brexit, how our clients need to restructure estates and succession planning to take advantage of the old rules whilst there is time.

Course information

The Budget on 3 March was not the “Great Reform Budget” of Capital Taxes that was widely feared. However, we now know the huge damage done to the public finances by the pandemic. We also know that there is a clamour to restructure the funding of “social welfare” which the Chancellor has not been able to address. We also know that there will be an Autumn Budget. This course will consider the planning that your clients would be wise to consider over the summer before the Autumn could bring radical change.

The content will be highly dependent upon developments in the run up to the course and full details will be made available nearer the time.

Content

Principal Private Residence relief costs around £28 Billion and the Finance Act 2020 contained many “oven ready” measures to curtail this but these just scratch the surface so clearly, this must be an ongoing area of reform. Will there be more?
Capital tax planning must always run alongside pensions planning so changes to either will have consequences on planning for the other!
The Budget is likely to contain many of the “simplification measures” proposed in the OTS reports published in July 2019 into IHT and in November 2020 and February 2021 into “simplifying CGT by design” and may even adopt some of the radical the APPG report of early 2020 (which floated the possibility of the abolition of IHT and the effective reintroduction of CTT).
These measures could fundamentally change the way we do both life time and will planning as measures such as the abolition of the uplift on death for CGT where BPR/APR are available are easily legislated for.
The course will look at “vanilla” planning which your clients may wish to consider as a result.
It will also look at the lessons learnt from the Spring 2020 Budget changes to Entrepreneurs Relief (now Business Asset Disposal Relief) as to what planning is acceptable and what is unlikely to be OK.

Cost

Rate	Cost
ICAEW Member	£90.00 + VAT
Non-Member	£90.00 + VAT
Retired Member	£45.00 + VAT
Career Break Member	£45.00 + VAT

Northern Society is offering delegates a 1/3rd off all of its live webinars up to 30 August 2021.

Northern Society of Chartered Accountants www.norsca.co.uk

This course will look at the world of pensions to see how they impact upon clients, especially in the area of retirement and estate planning.

With people living to a much greater age, various governments, to try to encourage people to save for the future, changed the pensions’ regime dramatically in 2006 and have played around with it incessantly thereafter.

Event information

So the system remains horrendously complex but the rules present many opportunities. The course will look at the world of pensions to see how they impact upon clients especially in the area of retirement and estate planning. It is not a financial services course and will not be dealing with products from a financial services aspect but will be looking at how the latest available products can assist the tax planner!

We are also going to have to deal with the delayed Budget – will this start to raise taxes to pay for the massive borrowings caused by Covid?
So we need to have a look apart from Pension Contributions at what is feasible to do before 5 April 2021

Content

Contributions – quantum and pitfalls – Lifetime limits, Annual Allowances, Employer contributions – a quick reminder – why should we make a contribution now?
Planning advice – not just registered pension schemes;
- What else can you save into that could be tax efficient? What about Cash rich companies…. How is BADR and BPR developing alongside pensions;
- Why spend your pension when you could spend your ISAs?
- Third party contributions;
- Capital Tax planning in the light of the changes – is it more counter intuitive than you think?
Other Year End Planning including looking at:
- Cash extraction,
- Tax efficient benefits,
- Is there any thing we need to do on loss relief?

Who should attend:
Partners and staff involved in the provision of advice to clients particularly in the area of estate planning and related items.

Later Life Tax

Drawing on the experience of our two speakers – Rebecca Benneyworth and Karen Barwick – the aim of this course is to provide tips for those key moments which can require careful tax planning and financial arrangements as clients start to contemplate their business exit and retirement.

This half day on-line course will benefit partners, manager and other members of staff who need to give tax and financial planning advice to business and personal clients. A reasonable tax knowledge is assumed.

Our two speakers will cover:

Differences between Enduring and Lasting Powers of Attorney;
Risks associated if you do not make a will;
Vulnerable client policy;
Different routes to care funding and pitfalls to avoid;
Capital gains tax issues – private residence relief; maintaining the relief; gifts of assets; business asset disposals;
Income tax issues – pre-owned asset charge (a refresher); other income tax issues;
Inheritance tax – implications of financial plans; residential nil rate band and downsizing relief.

Cost

Rate	Cost
Member	£90 (plus VAT)
Retired member	£45 (plus VAT)
Career break member	£45 (plus VAT)

There is a discount available of one third off prices on all NorSCA virtual CPD until 31 December – it will be applied automatically when you “check out”.

Capital taxes in light of the general election & Covid-19

An essential update when advising clients on capital taxes.

The Conservative manifesto contain few clues on this area but since being elected the Coronavirus response has seen quite unprecedented government expenditure on various economic support measures. This needs to be recouped – most likely through taxation.

The Chancellor will be introducing another Budget this autumn in which he will have to start paying not only for the massive injection into the economy but also the infrastructure projects – needed to enhance the economic recovery – and manifesto promises such as the Northern Power House Project.

Capital Taxes changes allied with pensions reform must be on the agenda as he will find it difficult to change the “normal” taxes. So, what planning could you do if this is going to be a problem for your clients?

Event information

We know that Principal Private Residence relief costs the treasury around £28 Billion so clearly, whilst there will be detail in the budget, this could be an area ripe for reform.

The budget is likely to contain many simplification measures proposed by the OTS; some of these measures could fundamentally change the interaction of life time and will planning as measures such as the abolition of the uplift on death for CGT where BPR/APR are available.

The course will look at what we can expect and “vanilla” planning which your clients may wish to consider. It will also look at the lessons learnt from the Spring Budget changes to Entrepreneurs Relief as to what planning is acceptable and what is unlikely to be OK.

Cost

Rate	Cost
Price	£90.00 + VAT
Retired Member	£45.00 + VAT
Career Break Member	£45.00 + VAT

There is a discount available of one third off prices on all NorSCA virtual CPD until 31 December – it will be applied automatically when you “check out”.

Making tax digital update

Rebecca Benneyworth has been an advocate of MTD since the consultation period in 2016 and remains keen to ensure that as many smaller firms and businesses as possible take advantage of these changes.

This session is an essential update for anyone working practice in accounts or tax as Rebecca will give delegates a clear idea of what processes they will need to adopt to serve clients in a completely new reporting environment. It would also be suitable for those working in business, although there is little detail as yet on plans for corporation tax.

This session will look at the July 2020 announcements from HMRC in regard to the process not only of the MTD project, but to what might develop with personal and business tax accounts over the next few years. It will cover the current requirements for VAT as a refresher, picking the tricky areas, and then move to the meat of developments to come through to 2023 when we shall see full mandation for income tax.

Content will include:

MTD for VAT requirements – a brief refresher; tricky practical areas
April 2021 developments – full digital links in place – how to achieve this
April 2022 developments – everyone in for VAT! Dealing with very small businesses. To deregister or not?
Income tax self assessment – the timeline. 2023 mandation – who will it affect? What will be needed? How will the mechanics work? What about very small businesses? Landlords and holiday lets.
Corporation tax plans and proposals
Where to with digital tax accounts?

Payroll taxes update Cumbria with Rebecca Benneyworth

This course will update you on changes to payroll measures over the last 12 months.

This course will update you on changes to payroll measures over the last 12 months, and flag up any forthcoming changes to keep you right up to date. In April 2020 we are likely to see the introduction of off payroll working rules for all those working through intermediaries, and this will be a major change to deal with. Final legislation may be issued quite close to the commencement date so it is important to ensure that you can advise clients appropriately.

Event information

The course will cover:

Basic changes – PAYE and NIC thresholds; changes affecting the basic operation of PAYE and NIC; Scottish and Welsh income tax changes
Minimum wage update and plans for the future. Minimum wage compliance cases reported recently.
Changes to taxation of benefits in kind in the last 12 months; future changes that have been announced; amendments to earlier changes
Off payroll working – what are the rules; obligations on engagers; the Status Determination Statement; advising affected clients effectively
Director rates of pay – what are the issues this year?
Auto enrolment – re-enrolment

Cost

Rate	Cost
Price	£90.00 + VAT
Retired Member	£45.00 + VAT
Career Break Member	£45.00 + VAT

Budget & Finance Bill 2020 Cumbria with Rebecca Benneyworth

This course will explain the content of the Budget and Finance Bill 2020 relevant to the general practice adviser; It will highlight areas of advice and issues to raise with clients.

Event information

The course will focus on the Finance bill, and is therefore dependent on the exact material in the legislation but is expected cover the following tax areas:
• Business and corporation tax
• Personal income tax including employment taxes and benefits in kind
• Off payroll working – the final version
• Savings and pension tax measures
• Capital gains tax – including changes to private residence relief
• Other capital taxes
• Tax administration.

The course is aimed at all practitioners and staff who work in tax and have a reasonable level of tax knowledge.

Cost

Rate	Cost
Price	£90.00 + VAT
Retired Member	£45.00 + VAT
Career Break Member	£45.00 + VAT

What does Brexit really mean for you and your clients?

This course is aimed at equipping the practitioner in the North East with the right tools to deal with Brexit whether their clients are directly affected or not!

Whilst it is clear we will be leaving the EU, by the time of the Course, the position should be clearer and we should be in the process of negotiating free trade agreements. Initially this will be with just the EU but what about access to all those countries like Canada and Japan where we currently use the EU free trade agreements?

Event information

The course is not going to be a detailed analysis of customs duties but will look at what this will all mean for your clients (or you if you are in industry) in terms of what consequences will it have on margins and processes. Whilst few clients actually import or export directly, most will have items either in their supply chain or sales chain which mean that tariffs could indirectly hit them. Clearly, we will look at direct exporters and importers and what they need to be doing. We will look at the VAT implications too!

We also need to think about the “quick fixes” on VAT which were brought in from 1 January 2020 by the EU which will hit our clients who are already trading in the EU.

However, we need to look at some of the many other aspects – from immigration proposals – what will that do to labour supplies, to “should we incorporate any operations abroad”, “will us leaving the EU affect dividends and royalties”, and “what about EU adopted IFRS”?

The course also needs to look at what a client ought to think about if they are thinking of expanding and therefore of setting up abroad.

Cost

Rate	Cost
Price	£90.00 + VAT
Retired Member	£45.00 + VAT
Career Break Member	£45.00 + VAT

Redworth 2020 General Practitioners’ Conference

Join us for our annual conference for interesting lectures and networking.

The weekend is a great opportunity to gain valuable CPD at a competitive price. Over the weekend you will receive the equivalent of four half-day courses. It is aimed at partners, managers, and seniors in independent practices.

As well as hearing from our expert lecturers you will have the chance to connect with them and other practitioners throughout the weekend.

Conference information

Many of the topics have been suggested by delegates who have attended previous Redworth conferences as well as the NorSCA CPD programme. Also, Rebecca Benneyworth will answer delegates’ specific tax questions in her popular “Rebecca on Request” slot on Sunday morning. You can be sure that the conference will meet your business and professional needs, as well as those of your staff.

As well as the lectures there is an excellent social aspect to the weekend, with delegates and speakers mingling during the free periods. You can benefit from lots of advice from the speakers, as well as comparing notes with other practitioners.

Spouses/partners of delegates are more than welcome to attend on a dinner, bed and breakfast basis.

Topics include:

Tax updates
Accounting updates
Employment Law
Rebecca on request
CABA – Networking
The real world of financial crime
Picking winners

Cost

RATE	COST
Residential delegate – early bird	£205.00 + VAT
Residential delegate – standard	£225.00 + VAT
Non-residential delegate – early bird	£250.00 + VAT
Non-residential delegate – standard	£270.00 + VAT

Early bird rates valid until 30 November 2019.

Accomodation

When you book you will only be charged for the conference element, the accommodation charges are payable to the hotel on departure. On booking please indicate if accommodation is required and we will book this for you at our preferential rates. Prices quoted include VAT: