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Northern Society of Chartered Accountants

At the heart of northern business since 1882

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.

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Practice Regulation update

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

An essential update for those working in practice to ensure that you are compliant.

Accountants working in professional practice face a seemingly endless stream of regulatory changes which affect practice management. Non-compliance can result in a bad outcome at the time of an inspection visit from a professional body.

Course information

This course will explain all the recent changes and also highlight common issues on professional body regulatory visits, helping you to ensure that your practice is well prepared in the event of such a visit. Content will include:

  • AML procedures reviewed during Practice/Quality Assurance visits and why they matter
  • Client monies and DPB – where firms go wrong and why
  • Professional Conduct in Relation to Tax (PCRT)
  • How to managing risk and quality in a small practice
  • Preparing for an ICAEW/ACCA inspection visit
  • Recent regulator feedback on Practice and Quality Assurance compliance – what the disciplinary cases tell us

Who should attend the seminar?
Partners, managers and staff in accounting firms with an interest in anti-money laundering and practice regulation compliance.

Cost
Rate Cost
Price £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.

 

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Capital Tax planning

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.

 

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Payroll update including Off Payroll working commencement

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

This course will update participants on all changes affecting payroll, expenses and benefits.

2021 sees the commencement of the off payroll working rules across the private sector, much delayed but due to commence on 6 April 2021.

Event information

There are changes to the rules already implemented for the public sector, and many organisations – both contractors and engagers will be meeting the rules for the first time. This course will update participants on all changes affecting payroll, expenses and benefits, and will follow with an in-depth look at the off payroll working rules commencing in April 2021.

The course will cover:

  • Payroll tax changes – PAYE and NIC thresholds; changes affecting the basic operation of PAYE and NIC; Scottish and Welsh tax changes overview; minimum wage update
  • 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 – an in depth study of all aspects of the rules as they affect contractors, agencies and end users. What is required? How will it affect businesses? What do contractors need to be aware of? What is the impact on the accounts of the PSC? What about CEST?
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.

 

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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”.

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Tyne & Wear Society of Chartered Accountants AGM

Meet the members on the committee, find out what is planned.

Notice is given that the 42nd AGM of the Tyne & Wear Society of Chartered Accountants will take place on 22 September 2020, at 12:00, virtually.

Event information

Agenda

1. Notice of meeting

2. Welcome by the chairman

3. Apologies

4. To Receive and, if thought fit, approve the minutes of the 41st annual general meeting held on Thursday, 30 May 2019

5. Review of the year by the chairman

6. Election of committee members under the provisions of Rule 6(a)

Four members of the committee appointed under rule 14(a), if any, shall retire from office. The members to retire each year shall be the four who have been longest in office since his last election.

Nominations may be received from members for the vacancies on the committee which occur and shall be deposited with the honorary secretary at least seven clear days before the annual meeting. Nominations should be forwarded to Joanne Lucking.

7. Election of the Independent Reporting Accountant under the provisions of Rule 13(c)

8. Any other business

Emma Harshorne-Ferguson
Hon Secretary

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Q4 General Practitioners’ Lunch

Join us for our quarterly lunch where you will meet like minded practitioners and gain valuable hints and tips.

Come along to our quarterly lunch for sole practitioners or those working in 1-2 partner firms to meet members with similar situations to support and share best practice. Our monthly event will commence with a light lunch followed by a speaker or discussion on a typical topic. This event is run by members for members.

Event information

The cost of the lunch includes tea, coffee and one of the following items. Please confirm at time of booking which item you require from the list below:

Soup of the day
Or
Roasted red pepper and smoked spicy houmous wrap (v)
Or
Cheese & pickle sandwich (v)
Or
Classic tuna mayo sandwich
Or
Roasted ham, tomato and rocket

Cost
Rate Cost
ICAEW Member £10.41 + VAT
Programme
Time Session
12:30 Arrival
12:45 Lunch
13:15 Speaker/discussion
14:00 Close
2020 General Practitioners’ Lunch Series Schedule
Date Session Speaker
4 March 2020 Cloud Accountancy update Chris Mcleod Sage
3 June 2020 Tax Update Emma Glover Peppercorn Tax
9 September 2020 Use of AI & data analytics Paul Wardle Inflo Software
2 December 2020 TBC TBC

More

Q3 General Practitioners’ Lunch

Join us for our quarterly lunch where you will meet like minded practitioners and gain valuable hints and tips.

Come along to our quarterly lunch for sole practitioners or those working in 1-2 partner firms to meet members with similar situations to support and share best practice. Our monthly event will commence with a light lunch followed by a speaker or discussion on a typical topic. This event is run by members for members.

Event information

The cost of the lunch includes tea, coffee and one of the following items. Please confirm at time of booking which item you require from the list below:

Soup of the day
Or
Roasted red pepper and smoked spicy houmous wrap (v)
Or
Cheese & pickle sandwich (v)
Or
Classic tuna mayo sandwich
Or
Roasted ham, tomato and rocket

Cost
Rate Cost
ICAEW Member £10.41 + VAT
Programme
Time Session
12:30 Arrival
12:45 Lunch
13:15 Speaker/discussion
14:00 Close
2020 General Practitioners’ Lunch Series Schedule
Date Session Speaker
4 March 2020 Cloud Accountancy update Chris Mcleod Sage
3 June 2020 Tax Update Emma Glover Peppercorn Tax
9 September 2020 Use of AI & data analytics Paul Wardle Inflo Software
2 December 2020 TBC TBC

More

Q1 General Practitioners’ Lunch

Join us for our quarterly lunch where you will meet like minded practitioners and gain valuable hints and tips.

Come along to our quarterly lunch for sole practitioners or those working in 1-2 partner firms to meet members with similar situations to support and share best practice. Our monthly event will commence with a light lunch followed by a speaker or discussion on a typical topic. This event is run by members for members.

Event information

The cost of the lunch includes tea, coffee and one of the following items. Please confirm at time of booking which item you require from the list below:

Soup of the day
Or
Roasted red pepper and smoked spicy houmous wrap (v)
Or
Cheese & pickle sandwich (v)
Or
Classic tuna mayo sandwich
Or
Roasted ham, tomato and rocket

Cost
Rate Cost
ICAEW Member £10.41 + VAT
Programme
Time Session
12:30 Arrival
12:45 Lunch
13:15 Speaker/discussion
14:00 Close
2020 General Practitioners’ Lunch Series Schedule
Date Session Speaker
4 March 2020 Cloud Accountancy update Chris Mcleod Sage
3 June 2020 Tax Update Emma Glover Peppercorn Tax
9 September 2020 Use of AI & data analytics Paul Wardle Inflo Software
2 December 2020 TBC TBC

More

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

More

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