This month in Tax: February 2023
By Justine Riccomini, Head of Tax (Employment and Devolved taxes)
26 January 2023
Justine Riccomini advises on what training and events are taking place, as well as tax resources available to Members on the ICAS website and beyond
- Sign up for our popular Ask ICAS and ICAS Insights webinars.
- See information on HMRC updates and other tax webinars
- ICAS – helping you keep up to date – visit the tax pages on icas.com.
Ask ICAS Webinar: MTD ITSA and basis period reform – where are we?
Date: Thursday 9 February 2023
Time: 11:00am until 12:00noon
Event summary
Before Christmas, HMRC announced that the mandatory timescale for Making Tax Digital for Self-Assessment (MTD ITSA) has been delayed until at least 6 April 2026. But while this has made the headlines, the delay is only part of the story and Members in practice still need to take steps to prepare self-assessment clients for change.
This webinar is an opportunity for attendees to hear from the ICAS tax experts on the changes to MTD ITSA which have been announced as well as gain insight from the additional briefings and discussions from HMRC.
The online event will also look in more detail at the basis period reform which has not been delayed. This event will be of interest to anyone involved in advising on self-assessment as well as individuals who have a business and are subject to self-assessment. This free webinar is open for all to attend, meaning that non-Members can also register. During the webinar, attendees will have the opportunity to ask the ICAS tax experts questions on this subject.
Key themes and topics
- Practical implications of basis period reform
- Changes to mandatory MTD ITSA
- What steps need to be taken
Speakers
- Host: David Menzies CA, Director of Practice
- Chris Campbell CA CTA, Head of Tax (Tax practice and OMB taxes)
Who’s this for?
- ICAS Members
- ICAS Students
- Non-Members
Counts as CPD activity
Depending upon your individual role and training and development needs, watching this webinar can count towards your annual Continuing Professional Development (CPD) requirement.
By signing up to an ICAS event you are agreeing to our terms and conditions.
CA Magazine and XERO present: Demystify the new rules for Making Tax Digital for ITSA
Date: Tuesday 28 February 2023
Time: 1:00pm until 2:00pm
Event summary
This webinar is sponsored by Xero in association with CA Magazine.
Understand the changes to Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) by taking a look at the new timeline and what these changes mean for your practice and your clients. Attendees of this webinar will gain an insight into what Xero is doing for MTD for ITSA and will hear firsthand about their solution.
Key themes and topics
This 45-minute session will cover:
- An overview of what Xero is doing for MTD for ITSA and how it will affect accountants and bookkeepers
- Tips on segmenting clients
- Understand the new Making Tax Digital thresholds and how this changes which clients are affected
- An overview of their vision to transform tax and compliance and the MTD roadmap
- A product demo of Xero’s solution, built to help accountants and bookkeepers support clients affected by the new regulations
- How Xero can support you with their solution for (non MTD) personal tax clients with the new threshold updates
Attendees will also have the opportunity to ask qualified accounting experts any questions they might have.
(Please note that views and opinions expressed by speakers at CA Magazine webinars are their own and not necessarily reflective of ICAS’ views.)
Who’s this for?
- ICAS Members in Practice
- ICAS Members
- ICAS Non-Members
By signing up for a CA Magazine event you are agreeing to our terms and conditions.
Ask ICAS and ICAS Insights tax-related webinars
There are no webinars planned for this month.
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.
HMRC Technical Information
The latest Agent Update is available here: Please note the AU is published once a month
The latest Employer Bulletin is available here: please note the EB is published once every two months
HMRC Talking Points webinars are available here.
HMRC Community Forums
You can use the HMRC online customer forum to 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 at https://community.hmrc.gov.uk. To post a question, simply register and create a profile.
A registered forum member can:
- View posts
- Add or post topics / questions
UK 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!