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The October 2023 - what's new in tax update

The October 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


  • Explains each issue and points to watch out for

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

  • What to do now if you are affected, the administration you need to do e.g. how to actually register a trust etc.


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


The guest is Ros Martin a tax consultant and trainer. Ros can be contacted at or


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


In part A we look 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 - part A

3:08      Dividend diversion scheme used by OMBs

3:20      Spotlight 62

4:10      Using dividends to pay school fees - scheme explained

5:09      Parents are deemed indirect settlors

5:40      Paying university school fees / costs

6:27      Impact of DOTAS

7:13      Likely approach of HMRC on penalties, interest etc

7:51      Existing schemes used in past years

8:53      HMRC guidance

11:48    Paying a salary to the children and why it won't work and is not advisable

15:05    Which trusts have to register with HMRC

15:29    Trusts registration scheme manual

16:40    How to register a trust with HMRC

17:22    How you will know it has been registered

17:57    Requirement to keep trust details up to date

19:09    Penalties and mitigation

19:40    Trusts created by a will

22:55    IR35 current issues and schemes as identified in Sept 23

23:58    Umbrella companies and why they are bad news

25:02    Should the sub-contractor know? Do they have a basis for reasonable excuse?

26:16    The IR35 issue for accountants in autumn 2023

26:42    R & D - how it affects accountants even if you have not done the claim

28:51    R & D nudge (one to many) campaign

32:34    Options to amend / withdraw 'dubious' R & D claims

33:52    How to contact Ros Martin

34:31    Updated HMRC tax avoidance campaign



Details contents and timings - part B

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



The autumn 2023 tax update

  • The podcast is supplied as an MP3 file

    The verification quiz is in Excel format

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