This month in tax: November 2021
By Justine Riccomini, Head of Taxation (Scottish Taxes, Employment and ICAS Tax Community)
3 November 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.
- Sign up for our popular Ask ICAS and ICAS Insights webinars.
- There is plenty of information available on all tax matters on the icas.com tax pages
- ICAS – helping you keep up to date
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:
11 November: Ask ICAS: The Budget in practice
Date: Thursday 11 November 2021
Time: 11am GMT (1 hour)
Event summary
Join ICAS’ tax experts for an update on the Autumn 2021 Budget and other developments in the world of tax.
Key themes and topics
- Autumn 2021 Budget announcements – the highlights.
- MTD ITSA and basis periods – what should businesses be thinking about?
- Other recent tax developments and tax cases.
Who’s this for?
- All ICAS Members and Students
23 & 24 November 2021 - International Tax – growing to meet the future
Global Accounting Alliance - Tax working group panel discussions
In his capacity as Chair of the Global Accounting Alliance (GAA)’s Tax Working Group, Dr Brian Keegan will be chairing elements of this two-session programme on Tuesday 23 and Wednesday 24 November 2021.
Join these panel discussions where the GAA tax experts and international Revenue authorities will discuss the ever-changing international tax landscape. The conversation will be opened out to members for contributions and questions.
Session one: Tuesday 23 November | 11:00am-12:30pm
Chair: Ian Kehoe – Editor: The Currency
- Digitalisation of tax administration
- Taxpayer behaviour in the modern economy
- The changing tax landscape and how it will impact Revenue authorities
Session two: Wednesday 24 November | 11:00am-12:30pm
Chair: Brian Keegan – Director: Advocacy and Voice, Chartered Accountants Ireland
- Discussion session for practitioners
- Tax consequences of hybrid working in our different jurisdictions
- Importance of cross-border collaboration for professionals
- The accountant’s role in a changing tax landscape
Join the discussion - book now.
2 December: Ask ICAS: MTD for ITSA
Thursday 2 December 2021
Time: 11am GMT (1 hour)
Event summary:
Join HMRC and ICAS tax team members for an HMRC presentation on Making Tax Digital for Income Tax Self-Assessment.
Key Themes
- MTD for ITSA
- What should agents and clients expect
- HMRC’s approach
Who’s this for?
- All ICAS Members and Students
(Please note that views and opinions expressed by speakers at ICAS webinars are their own and not necessarily reflective of ICAS’ views.)
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.
9 November: ICAS Insights: How inclusive leadership will boost your business
Date: Tuesday 9 November 2021
Time: 2pm BST (1 hour)
Event summary
Why is it important to cultivate inclusive leadership in the workplace? Firstly, it’s ethically imperative, and secondly, it will deliver big benefits for businesses, making them more effective, more creative and more sustainable.
Join this webinar for an informal panel discussion that will explore the day-to-day gender equality issues faced by women in the profession and reveal ways in which men can overcome the blockers that stop them from acting.
Our speakers will tell their personal career stories, sharing real-life insights to illustrate the problems and illuminate the solutions that can drive forward change and boost business performance.
Who are the speakers?
- Bruce Cartwright CA, CEO of ICAS, will chair the event.
- Clive Bellingham CA, ICAS Vice President
- Tracey Rob Perera CA, Start Up Business Mentor & Chair of the ED&I Committee
- Rhona Thomson CA, Executive Director at Morgan Stanley Fund Services, Member of Members Board
By signing up to an ICAS event you are agreeing to our terms and conditions. Click here to find out more.
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.
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 89 is out now – Note that Agent Update is now produced monthly.
Employer Bulletin: Occtober 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.
Talking Points – Multiple Dwellings Relief for Stamp Duty Land Tax: Using HMRC’s guidance and case studies from recent tribunal decisions, this webinar looks at Multiple Dwellings Relief and the factors influencing when it can be claimed.
Talking Points – Option to Tax: This webinar is for anyone thinking of opting to tax their land or buildings. It answers some common question about opting to tax.
Talking Points – Basis Periods: During the webinar we will focus on basis periods. In particular we will look at the different rules that apply to commencement years, the effect on a basis period when there is a change of accounting date and overlapping periods. We also look at some pointers when dealing with a change from sole trader to partnership and vice versa.
Introduction to Plastic Packaging Tax: Find out about the new Plastic Packaging Tax being introduced in April 2022 and what you need to do now if you produce or import plastic packaging.
Payrolling – tax employees’ benefits through your payroll: We’ll explain how to register, the advantages and give examples of how to deal with some of the most common benefits.
Company directors – payroll and you: This webinar covers the Income Tax and National Insurance treatment of payments to directors, how to deal with expenses and benefits, submissions you need to make and keeping records.
Plastic Packaging Tax – admin and technical aspects: In this webinar you’ll find more detail about the administrative and technical aspects of the new Plastic Packaging Tax. We recommend you attend the Introduction to Plastic Packaging Tax webinar first before the Plastic Packaging Tax – admin and technical aspects webinar.
Risk for Agencies and other businesses working with umbrella companies operating avoidance schemes: This webinar provides an overview of the risks for agencies and other businesses who use the services of umbrella companies in their supply chains. This webinar is targeted at employers who use temporary labour.
Making Tax Digital for VAT: This webinar will provide some of the basics of Making Tax Digital for VAT. This will include what’s changing, using software and keeping digital records, plus an introduction to penalty reform.
From April 2022, these requirements will apply to all VAT-registered businesses, to include those that have a turnover below the VAT threshold.
Income from property for individual landlords – part 1: The webinar looks at restricting finance cost relief and the cash basis eligibility and computational rules.
Income from property for individual landlords – part 2: This webinar looks at some of the main expenses and deductions, such as capital expenditure, revenue repairs and the property allowance.
Capital Allowances and vehicles: This webinar is part of our annual SA programme covering the rules for cars, including what a car is for capital allowances purposes, qualifying expenditure, pools and rates and vehicle hire purchase.
Trade Losses: The webinar will cover the different types of relief you can apply for, key information such as the time limits for claims and the temporary extensions applied to the loss carry back rules.
https://taxagents.blog.gov.uk/category/talking-points/
https://www.gov.uk/guidance/help-and-support-for-agents
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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!