Essential Tax Round Up for Private Client Practitioners - Live with Robert Jamieson

Introduction

This new virtual classroom seminar seeks to update practitioners with developments in personal tax covering the last three years and examines a number of planning points which will be of interest to both business and private clients in 2022.

Dividend rates for 2022/23 onwards have been increased by 1.25% across the board to ensure that the recent NIC increases cannot be sidestepped by paying dividends to shareholder directors of family companies.

One particularly important measure in FA 2022 is the introduction of a tax year basis for assessing the profits of self-employed individuals in 2024/25, with 2023/24 being treated as a special transitional year.

Elsewhere, the Office of Tax Simplification (‘OTS’) have made several key recommendations in relation to both CGT and IHT and there has been a fascinating SDLT case where HMRC’s arguments are diametrically opposite of what they would have been in a CGT context!

One welcome confirmation was HMRC’s announcement that the increasingly widespread use of Family Investment Companies since the IHT reforms to trusts in FA 2006 is not being regarded as a suspicious tax planning activity.

What You Will Learn

This live and interactive session will cover the following:

• Dividend rates for 2022/23
• Basis period reform for income tax
• Business asset disposal relief
• Main residence relief and the OTS
• An inverse argument (SDLT and CGT)
• The interaction of CGT and IHT
• Freezing operations
• Family Investment Companies and HMRC

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.