Tax Update Webinar

Objectives 

These monthly webinars will give you all you need for an essential tax update in just one hour per month. Martyn will cover all the vital tax issues and will update you thoroughly each month with the emphasis firmly on the practical issues so that action can be taken at the right time.

Key Topics

FINANCE ACT 2022 RECEIVED ROYAL ASSENT

• Losses Arising, in 2023/24 the “Transitional Year”
• Should the Business Change its Accounting date?

PURCHASE OF OWN SHARES WITH MULTIPLE COMPLETIONS

• HMRC View on Purchases of own shares with multiple completion contracts
• Key Conditions for Capital Gains Treatment
• Payment for shares by Instalments
• Previous tax treatment of multiple completions
• Impact on CGT Business Asset Disposal Relief

CGT ON DISPOSAL TO EMPLOYEE SHARE OWNERSHIP TRUST (ESOT)

• CGT Relief of disposal of shares to the Trust
• Eligible employees of the ESOT
• ESOT Trustees Powers
• Disqualifying events
• Using the ESOT to pay tax free bonuses up to £3,600

RECENT TAX DEVELOPMENTS

• HMRC Corporation Tax Marginal Relief Calculator
• Use the Correct National Insurance Letter to pay the correct amount
• Optional Remuneration (Salary Sacrifice) Arrangements
• Redundancy payments – “Relevant Earnings” for Pensions Purposes

GETTING A FULL STATE PENSION -

• Annual Increases - The “Triple lock”
• Eligibility
• Your National Insurance record
• Working after State Pension age
• What you'll get
• Valuing your National Insurance contributions made before 6 April 2016
• If your starting amount is less than the full new State Pension
• If your starting amount is more than the full new State Pension
• You did not make National Insurance contributions before 6 April 2016
• You've been in a workplace, personal or stakeholder pension
• Changes to contracting out from 6 April 2016
• Check if you were contracted out
• Qualifying Years
• Qualifying years if you’re working
• Qualifying years if you’re not working
• Gaps in your National Insurance record
• You want to retire overseas
• Deferring State Pension

RECENT TAX AND TRIBUNAL CASES

• Cheaper to Pay Class 2 rather than Class 3 to get Full Pension
• “Shaggy Dog” Story – Grooming Course Not Exempt from VAT
• VAT on Sale of Subsidiary Was Part of Fundraising Exercise

Who Should Attend

These webinars are aimed at all practitioners and staff who need to keep themselves up to date and want to offer practical and up to date tax advice.