Keeping up to date with tax - Attend the Current Tax course

Business Meeting
Charlotte Barbour By Charlotte Barbour for ICAS

31 August 2016

There are lots of reasons to attend the one-day ICAS tax course ‘Current Tax’ writes Charlotte Barbour

One of the great joys of working in tax is that there are always new challenges to meet. These include the details of the annual Finance Act, which this year contains a number of challenges of substantive practical importance.  Tribunals and courts constantly refine and clarify tax law and its application through their decisions – something else to keep up with.

In recent years, governments have had a tendency to announce some measures in advance, others are legislated for after a period of consultation, and others simply appear in a new Budget.  So, it can be tricky keeping on top of what is happening when!  

And, add to the mix, a number of other key developments for tax practitioners including:

Making tax digital (MTD)

Six long-awaited consultation documents have recently been issued by HMRC on this proposed change to make all things digital.  ICAS has also issued its own MTD strategy.

Scottish taxes

There are a number of taxes that have been wholly devolved to the Scottish Parliament.  Additionally, for income tax there is currently a Scottish Rate of Income Tax, but with effect from 2017/18 all rates and bands will also be devolved.

Tax avoidance

This has been the subject of considerable public discussion.  Behind the scenes, there has also been ongoing work by the professional bodies to revise the joint guidance ‘Professional Conduct in Relation to Taxation’ in order to meet the UK Government’s recent challenge to the professions on tax avoidance.

Current Tax’ will address a number of topics including:

  • Income and capital distributions including targeted anti-avoidance rules.
  • Loans to participators.
  • A comparison of dividends, salaries and loans for SMEs.
  • Interest reliefs and corporate loss relief.
  • The Scottish rate of income, 2017 expectations, and their practical aspects.
  • An update on HMRC's new powers, the impact on tax practitioners and tax administration and HMRC's digital agenda.
  • Client notifications requirements in practice.
  • CGT changes especially to ER.
  • Trusts – including trusts receiving UK dividends from 6 April 2016.
  • Loss of Dispensations / Statutory Exemption for expenses.
  • Changes to tax and NIC treatment of Termination payments.
  • Proposals for PAYE/NIC Alignment.
  • Challenges re Personal Service Companies.

This ICAS flagship course provides a succinct summary of current changes to tax and is chaired by our distinguished member, Professor Alex McDougall, with the following speakers – Bob Crawford, Hazel Gough, Elspeth Orcharton, John Cairns and Jim Gallagher.

I do hope you can attend ‘Current Tax’. Further details can be found here.

Topics

  • Tax

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