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What's new in taxation in autumn 2023 - part B

The CPD course to put the smile right back on your face in the what's new in taxation in autumn 2023 update



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The October / Autumn 2023 update provides you with an update on a range of practical issues that are topical or have been recently raised as important by HMRC.


The episode


1. Explains each issue and points to watch out for

2. Looks at planning points, action to take and likely HMRC approach

3. What to do now if you are affected, the administration you need to do e.g. how to report CGT gains on properties


The episode aims to explain the issues and the action you can take.



Ros Martin tax consultant
Ros Martin tax consultant

The guest is Ros Martin a tax consultant and trainer. Ros can be contacted at ros@taxdr.co.uk or www.taxdr.co.uk.


The update is split into two episodes of about 30 minutes each.


In part A we looked at


· HMRC’s spotlight 62 and owner managed businesses

· Practical issues registering trusts

· IR35 – developments in Autumn 2023

· R & D the issues you need to know about even if you have not done the claim


In part B we look at


· CGT reporting of gains on properties and the current problems

· HMRC update on capital allowances and the end of super deductions

· Basis period – point to watch

· General points on SME tax planning and extraction of funds

· BADR planning for the serial entrepreneur




Details contents and timings

1:41 CGT reporting of gains on properties

2:57 Different treatment of UK resident and non-UK resident individuals

3:12 Which properties are affected?

4:29 When and where to report?

5:28 Can I use my agent's account?

6:16 Penalties

8:12 Practical example

11:27 Impact of Connect and Land Registry

13:39 Capital allowances and end of super deductions

14:40 New HMRC guidance on balancing charges and super deductions

18:06 Basis period - point to watch on early change of date

18:22 Changing accounting date in 2022/23 not 2023/24

19:32 Can you change the date back?

21:02 Small company tax planning and can it be challenged?

21:38 Importance of wholly and exclusively

22:48 Can a salary / pension scheme split be too aggressive?

24:47 Using pension contributions to create a loss. Beware

28:09 BADR planning for the serial entrepreneur

32:12 Associated companies - brief reminder

34:53 Additional guidance on capital allowances from HMRC

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