Our six monthly finance seminars provide a high level overview of issues affecting Finance Directors and business owners across key areas such as tax, VAT, financial reporting, corporate finance and financial planning. In this round we will also take a look at two additional areas of risk; director failing and cyber security, both of which good governance can mitigate against. This session has been designed to go back to basics, providing hints and tips and key updates to help you to navigate the many complex issues facing directors.
Taunton - Essential 6-monthly Finance Directors' Update - June 2019PKF Francis Clark
Our six monthly finance seminars provide a high level overview of issues affecting Finance Directors and business owners across key areas such as tax, VAT, financial reporting, corporate finance and financial planning. In this round we will also take a look at two additional areas of risk; director failing and cyber security, both of which good governance can mitigate against. This session has been designed to go back to basics, providing hints and tips and key updates to help you to navigate the many complex issues facing directors.
Plymouth - Essential 6-monthly Finance Directors' Update - June 2019PKF Francis Clark
Our six monthly finance seminars provide a high level overview of issues affecting Finance Directors and business owners across key areas such as tax, VAT, financial reporting, corporate finance and financial planning. In this round we will also take a look at two additional areas of risk; director failing and cyber security, both of which good governance can mitigate against. This session has been designed to go back to basics, providing hints and tips and key updates to help you to navigate the many complex issues facing directors.
Exeter - Essential 6-monthly Finance Directors' Update - June 2019PKF Francis Clark
Our six monthly finance seminars provide a high level overview of issues affecting Finance Directors and business owners across key areas such as tax, VAT, financial reporting, corporate finance and financial planning. In this round we will also take a look at two additional areas of risk; director failing and cyber security, both of which good governance can mitigate against. This session has been designed to go back to basics, providing hints and tips and key updates to help you to navigate the many complex issues facing directors.
Bournemouth - Essential 6-monthly Finance Directors' Update - June 2019PKF Francis Clark
Our six monthly finance seminars provide a high level overview of issues affecting Finance Directors and business owners across key areas such as tax, VAT, financial reporting, corporate finance and financial planning. In this round we will also take a look at two additional areas of risk; director failing and cyber security, both of which good governance can mitigate against. This session has been designed to go back to basics, providing hints and tips and key updates to help you to navigate the many complex issues facing directors.
Plymouth - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
Bodmin - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
Taunton - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
Bournemouth - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
Taunton - Essential 6-monthly Finance Directors' Update - June 2019PKF Francis Clark
Our six monthly finance seminars provide a high level overview of issues affecting Finance Directors and business owners across key areas such as tax, VAT, financial reporting, corporate finance and financial planning. In this round we will also take a look at two additional areas of risk; director failing and cyber security, both of which good governance can mitigate against. This session has been designed to go back to basics, providing hints and tips and key updates to help you to navigate the many complex issues facing directors.
Plymouth - Essential 6-monthly Finance Directors' Update - June 2019PKF Francis Clark
Our six monthly finance seminars provide a high level overview of issues affecting Finance Directors and business owners across key areas such as tax, VAT, financial reporting, corporate finance and financial planning. In this round we will also take a look at two additional areas of risk; director failing and cyber security, both of which good governance can mitigate against. This session has been designed to go back to basics, providing hints and tips and key updates to help you to navigate the many complex issues facing directors.
Exeter - Essential 6-monthly Finance Directors' Update - June 2019PKF Francis Clark
Our six monthly finance seminars provide a high level overview of issues affecting Finance Directors and business owners across key areas such as tax, VAT, financial reporting, corporate finance and financial planning. In this round we will also take a look at two additional areas of risk; director failing and cyber security, both of which good governance can mitigate against. This session has been designed to go back to basics, providing hints and tips and key updates to help you to navigate the many complex issues facing directors.
Bournemouth - Essential 6-monthly Finance Directors' Update - June 2019PKF Francis Clark
Our six monthly finance seminars provide a high level overview of issues affecting Finance Directors and business owners across key areas such as tax, VAT, financial reporting, corporate finance and financial planning. In this round we will also take a look at two additional areas of risk; director failing and cyber security, both of which good governance can mitigate against. This session has been designed to go back to basics, providing hints and tips and key updates to help you to navigate the many complex issues facing directors.
Plymouth - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
Bodmin - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
Taunton - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
Bournemouth - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
Bristol - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
The decision to exercise ISOs can be very important to technology and other professionals. Understanding the AMT and other tax implications of exercising these options is not always a straight-forward exercise.
This presentation covers the basics of taxes and tax strategies related to these instruments. The objective is to give participants a framework for deciding if and when to exercise ISOs and if so, when to sell the underlying shares.
An overview of current tax reform proposals and potential implications. Overview of business implications with Chairman Camp's 2014 discussion draft, Senator Hatch's 2014 report on tax reform, corporate integration, House tax reform task force, and The Trump Plan.
Exeter - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
During this webinar we will review the current status of the tax world for both business and personal tax. This webinar will dive into how we got to where we are at, what is going on now, and where we might be headed in 2017 and beyond. This presentation will also highlight new, proposed tax reform plans, how they differ from the current plans, and how they might impact both business and personal income tax.
Tax Planning Update by Tracy Monroe, CPA. Presented at Cohen & Company's Client CPE Day. Covers business as well as individual tax updates.
www.cohencpa.com
Bristol - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
The decision to exercise ISOs can be very important to technology and other professionals. Understanding the AMT and other tax implications of exercising these options is not always a straight-forward exercise.
This presentation covers the basics of taxes and tax strategies related to these instruments. The objective is to give participants a framework for deciding if and when to exercise ISOs and if so, when to sell the underlying shares.
An overview of current tax reform proposals and potential implications. Overview of business implications with Chairman Camp's 2014 discussion draft, Senator Hatch's 2014 report on tax reform, corporate integration, House tax reform task force, and The Trump Plan.
Exeter - Essential 6-monthly Finance Directors' Update - November 2019PKF Francis Clark
This round of seminars will, as always, provide you with key updates and issues affecting FDs and business owners as shown in the programme below. We will also endeavour to include any relevant Brexit updates and will take questions from the audience.
During this webinar we will review the current status of the tax world for both business and personal tax. This webinar will dive into how we got to where we are at, what is going on now, and where we might be headed in 2017 and beyond. This presentation will also highlight new, proposed tax reform plans, how they differ from the current plans, and how they might impact both business and personal income tax.
Tax Planning Update by Tracy Monroe, CPA. Presented at Cohen & Company's Client CPE Day. Covers business as well as individual tax updates.
www.cohencpa.com
What is Value Added Tax (VAT)?
**An indirect tax imposed at each stage of production and supply.
**In general, the ultimate consumer is the one who bears the full cost of this tax while the business collects and
calculates the tax and pays it in favor of the state.
**A 5% is imposed on multiple production stages with the right to deduct taxes on inputs from taxes collected
from production outputs.
**The tax is collected each stage of the economic cycle (production, distribution, consumption)
Value added = Sale Price – Purchasing or Production cost
Published 25th January 2018 | For more information visit https://www.thesaurus.ie
Under the new legislation, whenever Irish employers pay their employees, a file must be submitted (electronically) to Revenue containing details of these payments.
The contents of this file will be similar to the details currently submitted in the annual P35, however, unlike the annual P35, this file must be submitted each pay period. Therefore, in most cases, the submission will be made either weekly or monthly.
This real time information will enable Revenue to ensure that employees are receiving their correct credits and cut off points. This in turn should mean that the incidence of year end over/underpayments of income tax will be substantially reduced.
We have designed a webinar to explain the ins and outs of what PAYE Modernisation means for your payroll bureau and your clients. The webinar is CPD accredited where you can benefit from 1.5 hours.
Agenda
An introduction to PAYE Modernisation including recent changes
What direct effect will this have on employers?
What direct effect will this have on employees?
What are the possible downsides for employers?
Revenue’s delivery schedule
The role out of PAYE Modernisation in the UK
Processing manually or using payroll software?
The letter of engagement
How will PAYE Modernisation affect your payroll service
Communicating these changes to your clients.
The Panel
Main presenter: Paul Byrne
Guest presenter: Sinead Sweeney
Guest presenter: Sandra Clarke
Topical Tax Issues For Reducing Your Irish Income Tax LiabilityBrendan Brady
Our presentation at the 2016 CPA Ireland annual tax conference on filing your 2015 tax return and some great reveals for reducing your Irish income tax liability
Our summer newsletter's cover articles look at planning for the reduction in the dividend allowance and highlight that another tax rise will be with us soon. Check out these articles and lots more!
Off Payroll Working In Private Sector | Makesworth Accountants in HarrowMakesworth Accountants
New tax rules for individuals working via their own companies for medium or large business. From 6 April 2020, new tax rules are proposed for individuals who provide their personal services via an ‘intermediary’ to medium or large business. An intermediary may be another individual, a partnership, an unincorporated association or a company. The most common structure is a worker providing their services via their own company (PSC) which is the term used in this letter to summarise the rules which will apply to all intermediaries. Similar rules were introduced in 2017 for public sector organisations receiving services from PSCs. The 2020 rules will use the 2017 rules as a starting point which means, in practical terms, that the principles have already been decided but some aspects of the detailed operation of the rules will be decided in a consultation process. Draft legislation has been published which will, subject to consultation, be included in the next Finance Bill.
Payroll seminar covering the most talked about legal requirement of RTI (real time information) reporting to HMRC. Delivered by Zee Shan of Smartfield Accountants in Leicester.
2021 Tax Savings Ideas for Individuals and Businesses.
This presentation and these materials are designed to provide information in regard to the subject matter
covered. This presentation and these materials are provided solely as a teaching tool, with the
understanding that Stephen Moskowitz, Moskowitz LLP, and the instructor are not engaged in rendering
legal, accounting, or other professional service and that they are not offering such advice in this
presentation and these accompanying materials.
The seminar is timed to coincide with the expected publication dates of the new Academies Financial Handbook and the new Academies Accounts Direction. We will cover the main changes in a clear and understandable way.
These technical presentations will be complemented by other relevant and topical matters, including, governance and risk management, VAT and Integrated Financial Curriculum Planning - which is currently a very popular financial health check review of the ESFA.
Our intention is for the seminars to be relaxed and informal, offering you opportunities to ask questions and to meet your counterparts from other Trusts.
Topics include:
• Update on the Academies Accounts Direction
• Update on the Academies Financial Handbook
• What does a good board look like?
• Integrated Curriculum Financial Planning
• Are you managing risk?
• VAT Update
In association with Croner Taxwise, the conference will focus on some specific areas that we believe will be of significant interest and relevance for our consultancy clients.
Employment status & off-payroll (IR35)
VAT
Managing people in the modern accountancy practice
Dealing with fast growth business
Tax planning for the family business
Dealing with Non-Doms
Similar to Truro - Essential 6-monthly Finance Directors' Update - June 2019 (20)
For innovative businesses it is vital to take advantage of support that can enable a business to grow. This includes tax reliefs aimed at the different stages in a business’s life cycle and the various avenues that are available for raising finance to take the business to the next level of its development. In this session we will look at the early stage of R&D claims and funding opportunities, through to share schemes, EIS and international expansion and the correlation with raising finance, both equity and debt, culminating in the final stage of the business being sold, what this can look like and how to be prepared.
Whilst uncertainty is unhelpful to many in the sector, the delay to Brexit has seen a continuing boom in the commercial property market in the South West, with 1.7m square feet of space coming on stream over the last 12 months – concentrated in the industrial and logistic sectors. What is clear is that those in the property sector, whether developer, landlord, investor or landowner need to concentrate on exploiting opportunities and managing costs wherever possible.
Property is still a key asset, giving strong income returns and means of capital preservation for the investor and wider family. Our highly knowledgeable and experienced advisers will offer practical, constructive insights and advice
With over 300 debt finance options currently available to businesses, we thought it timely to have a look at that market.
Presenters include:
. Michael Cass (Capitalise)
. Rachel Taylor (SWIG Finance)
. Andrew James (PKF Francis Clark)
In addition to an overview of the debt market, presentations will include tips on how to access the finance that matches your business’ requirements.
This month’s Breakfast Briefing is based on the hottest topic in company ownership – Employee Ownership Trusts.
South West firm, Paradigm Norton is the latest business to make headlines by becoming employee owned. It follows hot on the heels of Richer Sounds joining the most well-known employee owned company, John Lewis. High street staple Lush has also started the journey.
PKF Francis Clark will be joined by Christian Wilson from Stephens Scown to look at the Employee Ownership Trust model from a legal and tax perspective. We will also hear some of the factors that are stimulating increasing interest in the model, including the results of research showing that the greater staff engagement and lower staff turnover associated with this model helps to employee owned companies to achieve:
- Sales increase of 4.6% per year
- EBITDA increase of 25.5% per year
- Productivity increase of 4.5% per year
We will also consider some of the practical issues to be considered in deciding whether this is an option to pursue and in implementation. There will be a brief mention of some other related (i.e., employee engagement) issues.
The seminar is timed to coincide with the expected publication dates of the new Academies Financial Handbook and the new Academies Accounts Direction. We will cover the main changes in a clear and understandable way.
These technical presentations will be complemented by other relevant and topical matters, including, governance and risk management, VAT and Integrated Financial Curriculum Planning - which is currently a very popular financial health check review of the ESFA.
Our intention is for the seminars to be relaxed and informal, offering you opportunities to ask questions and to meet your counterparts from other Trusts.
Topics include:
• Update on the Academies Accounts Direction
• Update on the Academies Financial Handbook
• What does a good board look like?
• Integrated Curriculum Financial Planning
• Are you managing risk?
• VAT Update
Breakfast Briefing - Equity is not just for Punks: practicalities and princip...PKF Francis Clark
In this focused breakfast, we will be joined by the local equity fund provider, Cornwall and Isles of Scilly Investment Fund (CIOSIF), and one of the county’s solicitors to discuss a number of issues pertinent to an equity fund raise:
PKF Francis Clark is delighted to present our 13th annual Finance in Cornwall event on Tuesday 25th June 2019.
Delegates will hear from more than a dozen sources of funding and business support via short presentations and panel discussions, with the opportunity to ask questions and network with other local business owners and directors and professional advisers.
This year we have also teamed up with Cornwall Lenders Forum (a Cornwall Chamber of Commerce initiative), Acceleration Through Innovation and Cornwall Trade and Investment.
We have welcomed over 150 people to the event each year and we recommend that you reserve a place if you are thinking about expanding or investing further in your business in Cornwall.
PKF Francis Clark is delighted to present our 13th annual Finance in Cornwall event on Tuesday 25th June 2019.
Delegates will hear from more than a dozen sources of funding and business support via short presentations and panel discussions, with the opportunity to ask questions and network with other local business owners and directors and professional advisers.
This year we have also teamed up with Cornwall Lenders Forum (a Cornwall Chamber of Commerce initiative), Acceleration Through Innovation and Cornwall Trade and Investment.
We have welcomed over 150 people to the event each year and we recommend that you reserve a place if you are thinking about expanding or investing further in your business in Cornwall.
PKF Francis Clark is delighted to present our 13th annual Finance in Cornwall event on Tuesday 25th June 2019.
Delegates will hear from more than a dozen sources of funding and business support via short presentations and panel discussions, with the opportunity to ask questions and network with other local business owners and directors and professional advisers.
This year we have also teamed up with Cornwall Lenders Forum (a Cornwall Chamber of Commerce initiative), Acceleration Through Innovation and Cornwall Trade and Investment.
We have welcomed over 150 people to the event each year and we recommend that you reserve a place if you are thinking about expanding or investing further in your business in Cornwall.
PKF Francis Clark is delighted to present our 13th annual Finance in Cornwall event on Tuesday 25th June 2019.
Delegates will hear from more than a dozen sources of funding and business support via short presentations and panel discussions, with the opportunity to ask questions and network with other local business owners and directors and professional advisers.
This year we have also teamed up with Cornwall Lenders Forum (a Cornwall Chamber of Commerce initiative), Acceleration Through Innovation and Cornwall Trade and Investment.
We have welcomed over 150 people to the event each year and we recommend that you reserve a place if you are thinking about expanding or investing further in your business in Cornwall.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
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Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
6. OFF-PAYROLL (IR35)
Off-payroll Public Sector – April 2017
Off-payroll Private Sector consultation – April 2020
Reforms are for both sectors
Private Sector medium/large businesses only
“small company” exception based on Companies Act 2006
Annual turnover: not more than £10.2 million
Balance Sheet total: not more than £5.1 million
Number of Employees: not more than 50
Simplified approach for non-corporates
7. LABOUR SUPPLY CHAIN
From April 2020 – the end client will make the
status determination
The determination and requested reasoning will
either be:
Cascaded down the supply chain; or
Supplied direct to the worker by the client
The determination will also be supplied to the
fee-payer
Agency 1 will be responsible for compliance of
the chain
So, tax loss will be collected from Agency 1
If HMRC can’t collect from Agency 1, liability
transfers to the client
8. OFF-PAYROLL WORKER
The worker has the right to see the status determination
The worker will have the right to request the reasoning for the decision
The worker will have the right to challenge the decision
The challenge process will be client led
The client will be responsible for setting up or out-sourcing a client-led
process
Based on a set of legislative requirements
9. LIABILITY
Deduction of taxes initially sits with the
Fee-payer
Liability will rest with any party that has failed to
fulfil its obligations
Transfer of liability if HMRC can’t collect
10. LIABILITY
CEST
Update not available until April 2020
“Reasonable care”
Blanket assessments
Role based assessments
11. NEXT STEPS
Identify and review current engagements
(Employment Status Audit)
With agencies
With PSCs
Appoint someone to a designated status role
Joined up processes – HR, Finance, procurement
Review internal systems
Training
Outsource
15. ULTRA LOW EMISSION AND ELECTRIC CARS
The benefits
2% Benefit in Kind from April 2020
Ability to provide by salary sacrifice
Employee tax and national insurance
Possible wider savings for employee
Employer national insurance
100% first year allowances
Electricity not ‘fuel’ for fuel benefit purposes
Government Grants – both car and charger
No road tax for electric cars below £40,000
Staff retention
Corporate Social Responsibility
Hyundai Kona - Basic Rate taxpayer
Lease cost £380 per month
List price 35,000
2020/21 202
£
Car BinK rate 2.0%
P11D car benefit 700
annual car benefit tax 140
£
Per month car tax 11.67 1
Per month net salary sacrificed 258.40 25
Monthly net cost 270.07 270
16. ULTRA LOW EMISSION AND ELECTRIC CARS
The risks
Effective Salary Sacrifice for tax purposes?
HMRC Clearance
National Minimum Wage Breach
Wider concerns:
Employer: Family & sick leave
Employee: Mortgage applications & pensions
Practicalities
Real world range
Access to charging points
Will BIK rates change?
Employee leaving
17. EMPLOYER ILLUSTRATION
Based upon 30 staff, illustrative saving
(subject to insurance costs)
£56,000
Salary sacrifice
Employer's NIC
Annual Employer Estimated Total Savings
List price Lease via
salary
sacrifice
B-inK NIC
sacrifice
saving
Revised NIC Annual NIC
Saving
Average
Mileage
Saving Savings per car number
Staff Car e.g. Hyundai Kona 35000 360 700 596.16 96.6 499.56 2500 1025 1,525£ 20 30,491£
Exec Car e.g. Jaguar ipace 68000 700 1360 1159.2 187.68 971.52 4000 1640 2,612£ 10 26,115£
56,606£
Business Mileage
claims
18. EMPLOYMENT TAX COMPLIANCE DEADLINES
Forms P11D for benefits in kind
By 6 July forms P11D and form P11D(b) must be submitted to HMRC
By 19 July any employer NIC liability must be paid
PAYE Settlement Agreement (PSA)
By 6 July 2019 the agreement must be in place for the 2018/19 tax year.
By 31 July 2019 the PSA calculation must be submitted
By 19 October 2019 the payment must be paid
Employee/director shareholdings and share plans
By 6 July submit annual reporting for share schemes and other share
transactions with directors/employees.
20. VAT - AGENDA
What to look out for, when and what to do about it
VAT visits
Income
Expenditure
Key updates
Making Tax Digital for VAT
Brexit
Building services reverse charge
21. VAT – HINTS AND TIPS
Key issues for finance directors
VAT visits
Fewer physical visits
Phone visits from call centres
Increase in ‘pre cred’ checks
VAT return checks
Evidence reviews and checks
Turnover reconciliation
Reconcile to accounts
22. VAT – HINTS AND TIPS
INCOME
Income with No
VAT
Exports
(Evidence)
Journals
Especially in the
VAT account
EC Sales
(VIES)
Self Billing
(Criteria)
Liability Errors
Intercompany
23. VAT – HINTS AND TIPS
INCOME
Bad
Debt
HowWhen
Common mistake:
Invoice = £1,200 Received £1,000, Claim only £200/120% x 20% = £33.33
24. VAT – HINTS AND TIPS
EXPENDITURE
Check
Creditors
> 6M?
Paid an old
Debt?
Preparing
return
Submit
Return
Adjust?
Keep a
record
Adjust?
No. 1
Question
25. STOP
VAT – HINTS AND TIPS
EXPENDITURE
Common
Questions
/ Mistakes
Car / Van?
Private Use?
Fuel Scale
Charge?
45p / mile or
Fuel bill paid?
Electric?
Staff / Customers?
Xmas Party?
Goods / Services?
Specie?
Promotions?
>£50?
Proforma / RFP?
Incorrectly Charged?
C79? Valid?
Entertaining
Intercompany
Management Charges???
Valid Proof/
Invoices Fuel
Purchase/
Lease
Business
Gifts
Motor
Related
Car / Van?
Blocked?
Private Use?
Short / Long
Lease?
Double Cab?
Payload?
26. VAT – HINTS AND TIPS
SUMMARY / CHECKLIST
Review of purchase Invoices
Evidence of reconciliations
Evidence of review / sign off
Regular check of VAT numbers to ensure Valid
27. VAT – KEY UPDATES
MAKING TAX DIGITAL
Many software providers are encountering
teething problems but resolving quickly
Online set-ups have encountered glitches
March/June/Sept/Dec – June quarter
(Deadline Wednesday 7th August)
If you opted in early you have to stay in
Delayed start for VAT groups and some
other traders
A letter should have been received
28. VAT – KEY UPDATES
BREXIT
31 October 2019 (Maybe)
Make sure you have an EORI (Economic
Operator Registration Identification)
Apply for TSP (Transitional Simplification
Procedures)
Apply for a duty deferment account
Read the No-Deal tariff to see how it may
impact you
Consider supply chains and incoterms
Visits on the increase
Classification
Preference
Existing procedures
Licences
29. VAT – KEY UPDATE
CONSTRUCTION SERVICES
VAT domestic reverse charge for Building and
Construction services from 1st October 2019 to
tackle criminalised attacks on VAT system
Standard or reduced rate supplies where
payments require Construction Industry
Scheme (CIS) reporting
Supplies between sub-contractors and
contractors will be subject to the reverse
charge unless supplied to a contractor who
is an end user
End users will be recipients who use the
building or construction services for
themselves
33. IN THIS SESSION
Accounting alert – GMP equalisation
Narrative reporting changes
Carbon Energy Reporting Regulations
Strategic decision-making and directors’ duties
Are your governance basics up to scratch?
Big Data: adding value via the audit
37. ACCOUNTING IMPLICATIONS PRE AND POST
JUDGEMENT – 26 OCTOBER 2018
Year ends prior to
judgement
No provision = non
adjusting PBSE
Provision = adjusting
PBSE
Year ends post
judgement
Provide for
equalisation liability
Potential associated
deferred tax asset
39. CARBON ENERGY REPORTING REGULATIONS
Accounting periods beginning on or after 1 April 2019
New requirement to report in the directors’ report
Large companies and LLPs, so 2 from 3 of:
Turnover >£36 million
Gross assets >£18 million
Employee numbers >250.
In a large group, requirement to report is for the parent and any
individual subsidiaries which are large.
Disclosure is also “encouraged” for medium and small companies.
40. WHAT DO WE HAVE TO REPORT?
UK energy use, to include as a minimum purchased electricity, gas and
transport;
Associated carbon emissions in tCO2e;
At least one ‘intensity ratio’
energy usage compared with an appropriate business metric e.g. turnover
or staff numbers;
Information about energy efficiency measures undertaken during the
year
E.g. installation of LEDs, transport policies, energy storage
Comparatives only required from second year of application onwards
41. FOCUS ON TRANSPORT: BUSINESS USE ELEMENT
OF…
Total energy consumption
Onsite
transport
Personal/
hire cars
Company
cars /
fleet
vehicles
42. HOW DO I CONVERT ENERGY USAGE INTO
GREENHOUSE GAS EMISSIONS?
https://www.gov.uk/government/publications/greenhouse-gas-reporting-
conversion-factors-2018
43. STRATEGIC DECISION MAKING AND DIRECTORS
DUTIES
• Periods beginning 1 January 2019
When
• New statement: describing how directors have
complied with their duty under s172
• Related summary statements
What
• Large companies, including large subsidiaries.
LLPs excluded
• Related statement if >250 employees
Who
• Narrative reports: strategic and directors
• On websiteWhere
44. Engagement with employees
(where >250)
Describe action taken during the
year:
Provide information, consult,
encourage involvement,
awareness of financial and
economic factors affecting the
business
Summarise:
how engagement occurred
impact of employee interest on
principal decisions taken in year
Engagement with suppliers,
customers, other business
relationships
Summary statement:
Directors’ regard for need to foster
relationships
Impact on principal decisions
taken in year
STATEMENTS IN DIRECTORS’ REPORTS
45. All large companies (plus plcs)
No exemptions for group members who are large
Beware, size of parent = size of group it heads
Statement must be prepared at entity level
Parent may need to reflect some matters on a group basis
Subsidiaries reflect entity specific matters although may be driven by group
Publication on website required
Impact on format of statement and linkage to other elements of strategic report
S172 STATEMENT: WHO IS AFFECTED?
46. STRATEGIC REPORT STATEMENT: DIRECTORS’
DUTIES UNDER S172
Duty to promote
success of company
as a whole, having
regard to
Likely
consequences of
any decision in the
long term
The interests of
the company’s
employees
The need to foster
relationships with
suppliers,
customers and
others
The impact of the
company’s
operations on the
community and the
environment
The desirability of
the company
maintaining
reputation for high
standards of
business conduct
The need to act
fairly as between
members
50. BIG DATA: THE BIG PICTURE
AI
Block
chain
Cyber
Data
analytics Whole
data
sets
Speed
of
analysis
Better
assurance
51. WHAT CAN WE DO?
Two or three way matching of sales/ purchases
Review entire stock holding for
Items sold below cost
Items which have not moved within specified period
Fraud risk factors
Common bank accounts between suppliers and payroll
Duplicated bank accounts
Review of journal entries
52. IT’S ALL IN THE PLANNING
We work with you/ your IT
specialist to identify useful
possibilities
Generate
specific
reports
Run year
end
reports
Access
to system
55. POOR GOVERNANCE AND BUSINESS COLLAPSE
Insolvency Market
High Profile failures
Director’s risk and mitigation
Case study
What if your customer/supplier is insolvent
Escalate dispute resolution
57. POOR GOVERNANCE AND BUSINESS COLLAPSE
October 2018 – Worth £450M
HMRC Winding up petition for £1.7M
Directors claim they were unaware
Investigation reveals accounting fraud
FD arrested
Company enters Administration in January 2019
58. POOR GOVERNANCE AND BUSINESS COLLAPSE
Director’s risks
Disqualification
Company Director Disqualification Act (CDDA)
Insolvency Service investigate if unfit
Potential disqualification for between 2-15 years
Unable to be involved in the promotion, formation of management
of a company
Potential claims
Misfeasance
Potential personal liability
Joint and severable liability
60. POOR GOVERNANCE AND BUSINESS COLLAPSE
Case Study
Marine defence product
CEO understood IP
other directors all non exec funders
CEO had sole responsibility for product development and
customer liaison
successful test results reported
Customer orders ‘about to be signed’
Chance meeting with ‘new customer’
CEO admitted Walter Mitty existence
CEO now being prosecuted and likely to serve time
61. POOR GOVERNANCE AND BUSINESS COLLAPSE
Good Governance lessons
Board need right mix of skills relevant to the business
No over dominating individual
Board must challenge and verify what they are told
Use experts where a skills gap
Systems in place to prevent an individual having control
Whistle blowing policy
Keep contemporaneous minutes of meetings
62. WHAT IF YOUR CUSTOMER/ SUPPLIER INSOLVENT
Red Flag database
Free review service
• Send correspondence from Insolvency Practitioners to us
• We can correspond with Insolvency Practitioners on your
behalf
Questions to directors
Change directors’ choice of Insolvency Practitioner
Challenge Insolvency Practitioners’ fees
Report on outcome
Negotiate realisation of your security
Retention of Title (ROT)
Lien
Assist in buying assets from Insolvency Practitioner
63. DISPUTE RESOLUTION
• PKF Francis Clark licensed provider
• No financial risk
• No initial outlay
• Rapid results
• Fixed fee of 30%
64. ESCALATE DISPUTE RESOLUTION
Step 1 – Negotiation
Intensive negotiation
Experienced commercial
negotiators (IPs)
Incentive to settle inside
three months
No financial risk – you
don’t pay anything unless a
successful settlement is
reached
Fixed fee of 30% of
settlement
65. DISPUTE RESOLUTION
• Works best for disputes >£30,000
• Can go back 3 years
• Unlock written off disputes
Bed debts
Contractual negligence
Supplier/ Customer/ Employee disputes
IP infringement
No restriction on type of dispute
67. THE CURRENT THREAT
Of businesses that reported cyber
breaches last year, 48% reported at
least one breach a month.
Average cost of a breach for small
sized businesses was £4,180.
Average cost of a breach for
medium sized businesses was
£9,270.
Average cost of a breach for large
businesses was £22,700.
Statistics taken from the Office of National Statistics Cyber Security Breaches Survey 2019
68. GOOD GOVERNANCE IN CYBER
Ciaran Martin, CEO of the National Cyber Security Centre (the governments
cyber centre), speaking on 12 September 2018 at the CBI Cyber Conference:
‘My message today is aimed at board level and general corporate leadership, which is key to
managing this crucial risk.’
‘When we look at some of the advice given around the world on how to manage corporate
cyber security risk, it’s basically about governance. Good governance is necessary.’
• Cyber Security Strategy
• Risk Management
• Regulation and Certification
69. • GDPR fines
• Loss of data assets
• Loss of finances
• Loss of trust
Elizabeth Denham, Information Commissioner, delivering a speech on GDPR
and accountability:
‘If a business can’t show that good data protection is a cornerstone of their practices, they’re
leaving themselves open to a fine or other enforcement action that could damage bank
balance or business reputation.’
The ‘settling in’ period for GDPR is now
at an end and it is widely expected that
the ICO will start exercising its powers
more fully going forward.
AVOIDABLE CONSEQUENCES
70. INVOICE REDIRECTION
A client was defrauded of £5,000.
What happened
Weak password.
Invoice altered.
Payment made.
Funds irrecoverable.
Create strong passwords.
Use different passwords.
Keep them secret.
Restrict access to devices that are logged in.
How was it done
How to prevent it
71. WHO IS AT RISK OF THIS?
www.haveibeenpwned.com
72. PATCH MANAGEMENT
Data breach resulting in millions of individuals’
personal information being stolen.
What happened
Outdated software.
Vulnerability exploited.
Database stolen.
Personal details online.
Efficient patch management.
Clear structure and responsibilities within the IT
department.
Regular audits and assessments.
How to prevent it
How was it done
73. WHO IS AT RISK OF THIS?
Taken from Erricson Mobility Report 2019
74. WHAT IS NEEDED?
• Policies & procedures
• Risk assessment
• Regular reviews
• Accreditation
Mark Zuckerberg’s password, as revealed
after data breach – 6th June 2016.
‘Dadada’
75. EFFECTS OF GOOD GOVERNANCE IN CYBER
• Better insight
• Clarity of action
• Increased stakeholder
confidence
Michael Vatis, founding Director of the FBI's National Infrastructure Protection
Center - NYC, USA - January 2016:
‘In the very near future, cybersecurity exercises are going to be absolutely expected of all
companies by regulator.’
‘Companies should be thinking about the legal and managerial decisions that the CEO, the
COO and the board will need to make in that kind of crisis situation.’
80. DUE DILIGENCE READY
Not relevant as not planning any event?
look-back may be 3 full years plus YTD!
Overall trend - increase in both scope and depth of enquiries
Increasing use of software techniques
Increasing focus on non-financial considerations
Staff recruitment and retention
Supply chain and supplier relationships
81. TRENDS – INCREASING DD AND WIDER SCOPE
Case study examples of non-financial DD issues in transactions:
Intellectual property
Who owns it? Personally, business or even a 3rd party?
Particularly common with software
IT / cyber risks and controls
Reviewed / audited / accredited?
Buyers and funders expectations are increasing
Why not tested? Own IT department defensive?
82. THE EVOLUTION OF DUE DILIGENCE
Old style Current/Future
Full investigative team on site Limited or no visible onsite
assessment. Operations will be
covered by covert site visits.
Relatively focused/limited
financial data analysed via
Q&A
Now supplemented by software
/ Data Analytics - can analyse
far more data in seconds.
Overt, via direct questions
and face to face meetings
Mainly via dataroom. Limited
opportunity to ‘explain’ in
advance.
83. DATA ANALYTICS IN DUE DILIGENCE
Transaction and funding timescales are often limited
Software analysis is improving as are the algorithmic models
that analyse the data
Becoming an increasing common and useful tool
Consider undertaking your own review beforehand or
Vendor DD
Health warning - DA in DD is in its infancy. Subject to the
quality of data
84. DATA ANALYTICS: CASE STUDY EXAMPLES
Example 1:
In-house review of stock value and gross margin by product
Turnover c£25m. Over 2 million separate transactions each
year. GM% and slow moving stock had increased in last 3
years.
Analysis highlighted specific customers and products with
outlying GM% together with data recording and processing
errors.
85. DATA ANALYTICS: CASE STUDY EXAMPLES
Example 2:
Acquisition DD on behalf of Corporate Acquirer
Analysed all sales transactions and cash postings for £5m
turnover acquisition for previous two years.
Data downloaded and processed within 30 minutes.
Identified fraud and enabled FDD focus to be placed on
analysing outlying and unusual transactions.
87. FUND RAISING – CURRENT BACKDROP
Increasing levels of finance available from a range of
different (and often new) sources
Challenge for FD’s is often keeping up to date
Primary / High Street Banks restructured(ing) resulting in
many changes
Corporate and Commercial Banking – the days of
uniformity within and between Banks have gone!
88. ACCESS TO FINANCE – CURRENT BACKDROP
Increased prevalence of secondary and tertiary lenders
Growing track records and acceptance e.g:
Shawbrook – British Business Bank Funded
Thincats – Lent £448m, new PE fund £330m
Caple – increasing risk appetite
Will be selective given capital constraints
- but credit guidelines are clear
Dual banking becoming more common for SME’s
89. FUNDING CONSIDERATIONS
Economic uncertainty is a reality
Banks will want to focus on the risks as well as the
opportunities
Demonstrate to your funders that you have considered the
risks and how to overcome them
Cannot remove all risk, but you may be able to mitigate:
Quantative as well as qualitative measures
Sensitivity analysis to assess and plan for the impact
90. FUNDING CONSIDERATIONS: CASE STUDY
Property: Freehold or long
leasehold?
Historically considered a strength
asset in Banking discussions
Bank’s lend to the trading entity
who is also the property’s tenant
Credit underwriting will focus
primarily on the trade
Basis of valuation - consider
alternative use vs building to
company specific details
Are you a trading Company or
Investment Holding Company?
Case study example:
Retail focussed business with
substantial freehold property
portfolio.
Banks’ responses varied
considerably on lending appetite
and LTV% (45% - 75%) due to
change in credit policy
Positive impact on LGD and
lending margin calculations but
reduced facilities
Solution – Refinance property
with separate lender
91. FUNDING CONSIDERATIONS: CASE STUDY
Working capital & supply chain
Concentration or well spread.
Alternatives? Financial strength
Terms, rebates, discounts.
Contracts a positive or
negative? Length of trading
relationship?
Case study example: Food
producer
One supplier for key product. Long
trading relationship but no contract
Sensitivity analysis focussed on
working capital growth as well as
decline
Projected covenant breaches
under both scenarios
Solution – Supplier / trade finance
structure funding order through to
sale. Bank retained control of
goods throughout
92. FUNDING CONSIDERATIONS: CASE STUDY
Covenants testing
Historic and look forward
Case study: SME business with
£1.5m term loan
Covenant breach projected
No historic issues (either capital
repayments or interest)
Renewal date approaching
Incumbent seeking (a) Equity
holding / warrant in Company
and (b) £50k renewal fee
Solution – Negotiated renewed
facilities for only a £2.5k Bank
renewal fee!
93. DEBT FUNDING OBSERVATIONS CONTINUED…
Personal guarantees: More common for smaller MBO’s
and share restructures, including certain ID facilities
Credit timescales: Taking longer - right answer rather
than a quick answer
Emphasis of questioning: Strategic / dynamic as well as
more detail
Sector appetite: Receiving increased focus
Covenants: Teeth are beginning to bite, rather than simply
being waived
94. DEBT FUNDING OBSERVATIONS
Commercial property: Views from funders vary
considerably
Working capital: Increased trend away from
overdraft towards structured facilities (CID and RCF)
AML: Increased focus on cash receipts. May have an
impact on the level of CID facilities offered
Pricing: Risk based with reduce local autonomy if
outside of guidelines and thresholds
95. RISK BASED PRICING
Risk based
pricing
influential
factors
Financials
Non
financial
Structured
Vs
unstructured
lending
Capital
employed
Risk
rating
Sector
100. M&A DEAL STRUCTURE TRENDS
Multiples holding up for good quality businesses
Increasing focus on:
Earn outs when growth is key to value
Retention of vendors for consultancy / handover period
Overseas buyers
Impact of exchange rates – lower cost of UK assets
Confidence in the UK economy; almost despite Brexit
101. M&A DEAL STRUCTURE TRENDS
Alignment of ‘financial planets’
Funding
availability
Pricing Multiples Entrepreneur’s
Relief
…but for how long??
102. SUMMARY
It’s a competitive world
Be properly prepared – for funding, DD, DA
Review your working capital cycle
Review the strength of your suppliers, customers, contracts
etc.
Change is happening ……
– it’s not dependent upon a specific event
Make the most of the economic, tax and funding
conditions present now!
104. AGENDA
The Annual Allowance Trap
Lifetime Allowance Recap
Loans to and from SSAS & SIPP
Workplace Pensions Update
105. ANNUAL ALLOWANCE TRAP
Tapering of annual allowance commenced April 2016
If exceed both Threshold Income (£110k) & Adjusted Income (£150k)
Annual Allowance (£40k) reduced by £1 for every £2 of income > £150k
Annual Allowance reduced to minimum £10k when Adjusted Income = >
£210k
Threshold Income = Taxable income for year plus income given up under
a post 9/7/15 salary exchange minus gross pension contributions
Adjusted Income adds in all employer pension contributions
106. ANNUAL ALLOWANCE CASE STUDY
John is the MD of a successful manufacturing business where profits have
been strong in recent years
The business has funded his Self Invested Personal Pension to use up his
annual allowance since the 2013/14 tax year as a tax efficient way of
extracting profits
John’s salary and benefits package in 2018/19 amounted to £125k
In addition John has two investment properties which bring in income after
expenses of £18k
In previous tax years John’s total income was below £110k
Is John subject to an Annual Allowance tax charge?
108. ANNUAL ALLOWANCE TAX CHARGE
John’s Annual Allowance is Tapered to £23,500 because his income
exceeds the Adjusted Income limit by £33,000
John has exceeded the Annual Allowance by £16,500 (£33k / 2)
John’s total income is £143,000
£7,000 of the excess will be taxed at 40%
£9,500 will be taxed at 45%
Total tax charge = £7,075
John will have to pay this as part of his Self Assessment tax calculation
109. LIFETIME ALLOWANCE RECAP
Reduced to £1m in 2016/17
Now increasing again by CPI, 2019/20 level = £1,055,000
Fixed and Individual Protection 2016 still available if meet the criteria –
possible to preserve £1.25m LTA via FP 2016
Tax charges if exceed LTA = 55% if excess taken as lump sum or 25% if
retained in pension
Beware second LTA test at age 75 – need to project forward to determine
if at risk
110. AGE 75 – SECOND TEST AGAINST LTA
Peter has a pension fund of £800,000 at age 60
He takes the maximum tax free lump sum of £200,000 leaving a residual
fund of £600,000
This event uses 75.83% of his LTA leaving him with 24.17% unused
He doesn’t require an income from the fund as he still receives dividend
income from the family business
He leaves the residual fund to grow and it achieves a return of 4% per
annum between age 60 and 75
What happens at age 75?
111. AGE 75 – SECOND TEST AGAINST LTA
The fund has grown to £1,080,566
The growth in the fund is £1,080,566 - £600,000 = £480,566
The LTA is now £1,350,000 of which Peter has 24.17% left to use
(£326,295)
The fund growth exceeds the available LTA by £154,271
A tax charge of 25% would be applied to the £154,271
Tax payable of £38,567
112. LOANS TO & FROM SIPP & SSAS
Did you know that……..
If you need to borrow funds in your SIPP to fund a property purchase you
can lend this money to the SIPP yourself
Has to be on commercial terms
Has to be a viable lending proposal i.e. a bank would lend in same
circumstances
If you have a SSAS you can lend money to your business
If secured by first charge over property 50% of SSAS value can be lent
providing the loan meets the following criteria
113. SSAS LOAN CRITERIA – FIVE TESTS
Security – must be secured against an asset with value at least equal to
loan plus interest
Interest rate – no less than 1% over the average base rate of six
nominated high street banks rounded up to nearest 0.25%
Term – fixed term of 5 years
Amount – no more than 50% of the SSAS assets
Repayment – equal instalments of capital & interest for each complete
year of the loan
114. WORKPLACE PENSIONS UPDATE
Are your automatic enrolment pension duties up to date and compliant?
Pensions Regulator news release 15 May 2019
“Employers who flout their automatic enrolment pension duties are
being targeted with short-notice inspections by TPR”
Key issues
Are contributions being paid at the correct rate and on time
Are re-enrolment processes in place for previous opt-outs
Have you completed your re-declaration of compliance
115. SUMMARY
Consider interaction between total income and employer pension
contributions
Be aware of potential future LTA breaches and plan accordingly
Consider more niche pension options such as SSAS which could be
useful to your business
Ensure your Workplace Pension procedures are fit for purpose – if you
outsource these, still need to monitor
117. SNAPSHOT
Session Topic Takeaway
Payroll employment Off payroll workers
Ultra low emission and
electric cars
Identify off-payroll workers in your business and assess
likely status post April 2020.
These incentives may not be available for the medium
term. Take advantage while you can.
VAT VAT inspections
Hints and tips
MTD4VAT
European trade
The regime is changing, be prepared
Unpaid supplier invoices (threat) and bad debt relief
(opportunity)
Have an implementation plan/timetable
Get EORI numbers
Corporate governance and
financial reporting
Narrative reporting
Governance
Gather carbon reporting data and prepare s172
information (duty to promote the company to
stakeholders)
Are your rules and procedures up to scratch?
118. SNAPSHOT
Session Topic Takeaway
Insolvency High profile cases
Escalate
Have you updated the risk assessment to your
business?
Consider using this to unlock disputes
Cyber security Governance Now part of everyday life, negative consequences of
getting it wrong are increasing, and avoidable.
Corporate finance Fund raising
Due diligence
Market trends
Uniformity has gone, varied finance sources and risk
based financing are the new norm.
Techniques and level of analysis are changing
Multiples are ok, deal structures moving towards
overseas buyers, earnouts and ongoing consultancy
Financial planning Annual allowances
Lifetime allowances
Tapering having an effect on tax charges for pension
contributions
Increasing with CPI but beware 2nd test for 75 year olds
119. THE FAMILY
BUSINESS CONNECT
HOUSE
The Family Business Connect House has a
range of rooms to explore alongside your
dedicated adviser and within each room, is a
further three levels of depth to consider
depending on your requirements, pace and
priorities.
You can navigate the rooms of the house
according to individual or business goals. Your
dedicated adviser will work closely with you to
safeguard your position and to identify
opportunities to add real value to your family
and your business.
https://familybusinessconnect.com
121. 01392 667000
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01722 337661
Salisbury
01823 275925
Taunton
01803 320100
Torquay
01872 276477
Truro
01752 301010
Plymouth
01202 663600
Poole
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