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Northern Society of Chartered Accountants

At the heart of northern business since 1882

Capital taxes in light of the general election

Date: 21 September 2020 09:30 - 12:30

Type: Course, Tax

Organiser: Tyne and Wear

An essential update when advising clients on capital taxes.

The Conservative manifesto contain few clues on this area other than a promise of no changes to rates but it did contain an ominous promise of a review of entrepreneur’s relief.

This is a very expensive relief costing the treasury around £2.5 billion each year. At this stage, little else is known but will be by the time of the course – best bets indicate that a working time requirement (like the old retirement relief rules) may well be introduced – what planning could you do if this is going to be a problem for your clients?

Event information

We also know that Principal Private Residence relief costs the treasury 10 times that (around £28 Billion) and the draft finance bill, published in July, contained many “oven ready” measures to curtail this so clearly whilst there will be detail in the budget, this must be an ongoing area of reform.

Finally, the budget is likely to contain many of the “simplification measures” proposed in the OTS report again published in July. This report largely went unnoticed with all the Brexit problems. Many of these proposals are again “oven ready” for implementation. 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.

More details will follow due to the uncertainty of the date for the budget.

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

 

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Venue

Newcastle Gateshead Marriott Hotel Metro Centre

Address:
Metro Centre
Gateshead
NE11 9XF

Tel No: 0191 493 2233

Speaker

Bob Trunchion

Bob Trunchion

Bob Trunchion is a Tax Principal with MacIntyre Hudson LLP and is one of their tax lecturers.

After service in the Royal Navy, Bob qualified as a chartered accountant with Coopers and Lybrand where he specialised in corporate taxes. On moving to MacIntyre Hudson, he broadened his scope to deal with all types of taxation.

He has a wide range of tax knowledge and lectures on a range of subjects including the tax implications of buying and selling companies, capital tax planning, trusts and share valuation work. He is also specialist in a number of industries or niches such as solicitors, farmers and the medical profession and on the professional indemnity insurance aspects of tax work.

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