£96

3-D Tax Update (Directors' loans; Domicile; Digitalisation)

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Salisbury

Salisbury Racecourse

Netherhampton , Salisbury

Wiltshire

SP2 8PN

United Kingdom

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This session has three distinct parts, as follows:

Directors’ loans

This is one of the key compliance areas for those who deal with OMBs. We will look at various practical issues, including:

  • How the FA 2013 anti-avoidance rules affect those who try to ‘bed and breakfast’ loans
  • The consequences if a company is liquidated with loans outstanding
  • The pros and cons of loan write-offs compared to repayments via dividends (taking account of all relevant taxes)
  • The impact of the FA 2016 changes to the rate of s.455 tax
  • P11D issues
  • Legal issues (e.g. regarding authorisation of loans and properly declaring dividends)
  • Accounting disclosures

Domicile

2017 sees major reforms to the tax treatment of non-doms. In modern Britain, where many taxpayers (or their parents) have been born overseas, no practitioner can afford to ignore these changes completely, even though the detail may be best left to specialists in this area.

In this section of the course, topics will include

  • A reminder of the main elements of the statutory residence test introduced by FA 2013
  • How someone’s legal domicile status is determined
  • The new rules that will treat someone as deemed UK domiciled for all tax purposes from April 2017
    • 15 out of 20 years UK residence
    • ‘returning UK doms’
    • The main effects of becoming UK domiciled for tax purposes, including
      • Being taxable on worldwide income and gains, rather than the remittance basis being available
      • Worldwide assets coming within the IHT net
      • Other matters, including
        • The CGT basing option at April 2017
        • The two-year window to ‘cleanse’ bank accounts that contain a mix of income, gains and other capital
        • Why offshore structures will no longer protect UK residential property from IHT

Digitalisation

Making Tax Digital is due to be introduced in 2018 and will have far-reaching effects for those in the profession and their clients.

This section of the course will bring delegates up to date with the latest HMRC pronouncements on digitalisation and look at how they might impact on various types and size of business.

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Date and Time

Location

Salisbury

Salisbury Racecourse

Netherhampton , Salisbury

Wiltshire

SP2 8PN

United Kingdom

View Map

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