Disguised Remuneration – changes to the loan charge following the independent review
On Tuesday 28 January , there will be a webinar relating to changes made to the loan charge and how they may affect different people. This will take place from three until four pm and will give the opportunity to find out more about the disguised remuneration loan charges and the changes as a result of the government’ s response to the independent review.
Trade losses
This session will look at how trade losses can be relieved by individuals and will look at different examples of the various loss relief provisions, the applicable time limits and further areas to consider. This will take place on Wednesday 29 January between 11am and midday.
Basis periods
This webinar consists of tips relating to dealing with how to change from sole trade to partnership and vice versa. There will also be discussion of different rules that apply to commencement years and the effect on a basis period where there is a change of accounting date and overlapping periods. The webinar is being held on Thursday 30 January from 11 to midday.
Negligible value claims and share loss relief
At the start of February, there will be a webinar that provides an overview of share loss relief and explores what conditions must be in place for clients to claim assets that have become of negligible value. Enrol to participate in the webinar taking place on Thursday 6 February between midday and one o’clock.
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A review of the government’s response to OTS report on s implifying tax for smaller businesses 21 January 2020 Ahead of all upcoming changes taking place from the start of the new tax year in April 2020, many payroll professionals will be wondering how the government’s response to the Office of Tax Simplification’s (OTS) report on simplifying everyday tax for smaller businesses will be incorporated into legislation and also hoping that this will make the complex area of tax more straight forward. The response from HM Treasury, published in November 2019, accepted the majority of recommendations, and considered any it did not wholly reject. In a letter addressed to the OTS, MP Jesse Norman thanked the department for their report and advised that officials would update them on any updates to the progress on the extra eighteen recommendations that were laid out in addition to the below. This is because the government is dedicated to ensuring the UK is an attractive place for business and entrepreneurship. • Recommendation: the government should provide small businesses with a package of start-up guidance which advises of the key actions to take, with tax as the primary focus. Response: this will be considered by the government. The government understands how important it is to help small businesses, not just to meet tax obligations but so that they can grow and prosper. HMRC already provides a range of support resources, inclusive of webinars and videos, tax helplines and written guidance. More can be done though and the cross government ‘Start a Business’ service community has published step-by-step guides to setting up a business. Ongoing work will continue to enhance the guidance available for new business set-ups. • Recommendation: A strategic focus on the PAYE system should be a HMRC priority to ensure effective implementation of improvements and system changes. Response: accepted by government. HMRC is committed to improving PAYE and RTI, as this can equate to cost savings and give a better experience for customers, employers and agents. A post-implementation review of RTI took place in 2017 and HMRC is in the process of implementing the findings. A new regime
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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