This month in tax: August 2021
By Justine Riccomini, Head of Taxation (Scottish Taxes, Employment and ICAS Tax Community)
5 August 2021
Justine Riccomini advises on what training and events are taking place as well as the coronavirus and tax resources available to members on the ICAS website and beyond.
- Take a look at events coming up in June and beyond for tax practitioners to read, attend and view online
- The events can add to CPD, enhance knowledge and be of general interest
- ICAS - helping you to keep up to date
ICAS and BPP – Current Tax series
Continuing the tradition of the annual Current Tax for ICAS Members, we will again be offering this popular event in September 2021 and like 2020, we will be online rather than face-to-face.
Current Tax 2021 will consist of one live two-hour session, which will be delivered twice, and six pre-recorded sessions of around 40 minutes each, which can be viewed at your leisure.
To book, select the date of your choice for the online live session - pre-recorded modules will be available to view in early September.
Online Live, 7 September 2021
Online Live, 23 September 2021
Content
Justine Riccomini from ICAS and Michael Steed from BPP will host and present the live sessions and they will cover areas that members will need to be aware of as businesses come out of lockdown and start trading in earnest again, including employment taxes and understanding how the new EU VAT e-commerce Directive from 01 July 2021 will affect UK businesses that trade with EU B2C customers.
The pre-recorded sessions will cover:
1. Basic corporation tax mechanics as we head for the new April 2023 landscape – back to the future!
2. Non-Brexit VAT – a roundup of recent VAT issues including the Domestic Reverse Charge, MTD and the scope of the reduced rates for leisure and hospitality businesses;
3. Capital Allowances – a review of the AIA and the new super-deduction, first year allowances on Ultra Low Emission Vehicles, garden pods and the scope of the Structures and Buildings Allowance;
4. Capital Taxes – where are we now?
5. Recent tax cases;
6. Risk Management for ICAS members.
Questions?
BPP | Tel: 0330 060 3303 | Email: ldicas@bpp.com
Ask ICAS and ICAS Insights webinar series
Ask ICAS is generally held on a Thursday morning at 11 am for a one-hour, topical webinar. Details and sign up can be found at ICAS webinars.
Dates for your diary:
- 26 August 2021, 11.00 – 12.00 – The HMRC consultation on Basis Periods – – Chaired by Charlotte Barbour; presented by Susan Cattell and Philip McNeill. Register here.
Attendees can take advantage of a live Q&A on all Ask ICAS webinars with the webinar presenters or send in their queries in advance to dmenzies@icas.com to be answered live.
Catch up on all previous Ask ICAS webinars.
Please note that all the feedback we have received from members during webinars, in Q&As and on a day-to-day basis is in turn being fed into Government insofar as it relates to policy and to HMRC insofar as it relates to operational and practical matters.
Please note that views and opinions expressed by speakers at ICAS webinars are their own and not necessarily reflective of ICAS’ views.
- 2 September – HMRC’s Mark Gill speaks about their approach to debt management.
- 9 September – VAT Update – Lynn Gemmell updates us on VAT matters.
ICAS coronavirus hub
ICAS teams have been working across the board to bring you as much up to date information as possible in one convenient place. The hub is updated as and when anything develops – try taking a look for further information.
HMRC Technical Information
Agent Update: issue 86 is out now – Note that Agent Update is now produced monthly.
Employer Bulletin: June 2021 issue is out now – Note the Employer Bulletin is still published once every two months.
HMRC Talking points: If you have missed one, you can usually catch up later.
A new webinar is coming up: Check Employment Status for Tax (CEST) Tool: This webinar is designed to help you understand how HMRC's Check Employment Status for Tax tool, or CEST for short, can help you make robust and accurate status determinations. During this session we will walk you through a status determination using a mock engagement.
New webinars are now available on payrolling benefits and Construction Industry Scheme.
Payrolling – tax employees’ benefits through payroll: We’ll show you how to register for payrolling and what happens once you’re registered, as well as how to report the expenses and benefits you provide to employees or directors.
Construction Industry Scheme for contractors: This webinar provides an overview of the Construction Industry Scheme, including employment status, registering with HMRC, verification and deductions, CIS returns, and paying HMRC.
Construction Industry Scheme for subcontractors: We’ll look at how to join the scheme, what deductions will be made from your payments, verification and the records you’ll need to keep.
HMRC Community Forums
HMRC has an online customer forum where you can post questions on a range of tax topics that are answered by HMRC experts. The forum now includes “PAYE and Payroll for Employers”.
ICAS Members are encouraged to join this.
The Knowledge Base is a new feature which contains answers to FAQs on a variety of topics and where you can find information on a number of subjects to help with tax matters. Content is regularly updated and new material added.
Anyone can view the forum. To post a question, simply register and create a profile.
A registered forum member can:
- View posts
- Add or post topics / questions
Government consultations
The ICAS tax team responds to many consultations on tax issues and welcomes members’ views to assist in preparing responses. If you have any comments on open consultations let us know.
Details of current consultations on tax issues can be found here:
Fancy volunteering on an ICAS tax committee? Email tax@icas.com to let us know!