24 Carleton Road, Poynton, Cheshire, SK12 1TL - T:01625 858188 F:01625 859563 E:info@smarttraining.co.uk
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Designed for: partners and senior employees involved in accounting. The course updates delegates on the latest accounting and practice regulation developments. Only developments that affect general accountancy practices are covered, and they are: FRSs - Exposure drafts - Brief coverage of new auditing standards - Forthcoming developments - Changes to ethical rules - Practice and quality assurance - Financial disclosures update - Audit-exempt companies - Update on the Companies Act and other legislation affecting general practice. The update looks at all issues affecting accounting and practice regulation. There will be separate audit updates for registered auditors. The exact contents are set about four weeks before the course date and you will find details at www.smarttraining.co.uk.
The content for November 2007 are as follows:
Chester, Bolton, Preston, Wilmslow
Includes full coverage of the Companies Act 2006 the course will cover changes made in Oct 2007 and to be made in 2008
Money laundering update – including the changes for 15 December 2007
Full coverage of the professional bodies’ guidance on Audit exempt companies
Practice and quality assurance update
Accounting standards board update
Director’s duties – changes made by Companies Act
Accounting standards update
Brief coverage of audit issues
Who should attend? All partners, managers and accountancy staff
Kendal, York, Birmingham and Cardiff
What you need to know now on the new Companies Act including implementation dates and timeline
Update on Money laundering regulations commencing December 2007
Directors’ reports for medium companies
Directors’ responsibilities under Companies Act 2006
ICAEW guidance on Audit exempt assignments
Coverage of common disclosure errors
Update on common problems with new Audit Stanadards
New international SME standard
Update on FRSSE
ICAEW practice assurance and ACCA Assurance update
Plus other topical issues
Many clients have small pension funds, all of which may need reporting on. The rules are complex and must be correctly applied, particularly with The Pensions Regulator (TPR) taking a strict regulatory line. The course covers: Planning - Scheme rules - Complying with Inland Revenue rules - Disclosure rules - Audit programmes - Audit tests you must do - Reporting - Reporting breaches - Spotting breaches of the rules - Summary of present legislation - Pensions Act - SORP - Best practice - Use of actuarial statements. This course lasts 1½ hours and concentrates on the rules that affect general practice small pension funds.
The course is designed for accountants who already act for GPs or are aiming to do so. The course is only suitable for partners, managers and experienced accountancy staff. The course updates delegates on changes and developments to this increasingly competitive area, and covers: Style, layout and content of doctors' accounts - Sources and types of income, and NHS funding - Tax treatment of fees received: PAYE and VAT implications - Current hot topics for doctors' accounts - Succession, profit-sharing, property and other partnership matters -Retirement, superannuation and pensions.
This course is designed for all accountants in general practice who act for those of their clients regulated by the Financial Services Authority, including Personal Investment Firms (PIF) and Insurance Brokers. The course is designed as an update on significant developments over the last 12 to 18 months and as a refresher on the main rules affecting FSA assignments met in general practice. The course covers: Who is regulated - Which clients are exempt - Overview of the legislation - Planning the audit or assignment - Types of engagement and engagement letters - Reporting requirements - Audit and accounting procedures - Specific tests that must be carried out - Capital maintenance requirements where required - Disclosure requirements - Summary of the legislation and rules - Special rules affecting PIFs and insurance brokers.
Designed for: The course is designed for Personal Assistants and Secretaries who want to improve the effectiveness and efficiency of their current job. By the end of the course delegates will have gained an enhanced range of skills to use every day. The course is restricted to 15 delegates so ensuring sufficient time is dedicated to developing the skills.
The course will draw its contents from:
Defining your role and responsibilities as a personal assistant - Communications skills both verbal and non-verbal - Introduction to the key aspects: of managing your time effectively, inc dealing with interruptions - Overview of the key skills required to influence & negotiate - Appreciation of the impact of using assertiveness skills: including saying no, and handling challenging people, in ensuring acceptable, achievable levels of work - Coping more effectively with stressful situations and days - Setting targets, goals and personal / professional action plans
This course covers the major tax events in the previous three to six months, including the Budget and 2008 Finance Bill/Act (as applicable). The course only covers the issues that affect general accountancy practitioners and their clients, including: Parliamentary legislation - Recent case law -Present best practice on major tax issues - Income tax - Corporation tax - CGT - IHT - National Insurance –Stamp duty land tax. The tax updates are held two or three times a year at all venues. The exact contents are set about four weeks before the course and you will find details at www.smarttraining.co.uk.
The course will concentrate on the major issues affecting CGT that you will meet in general practice. The course draws its contents from: Capital gains: Taper relief update - Share disposals - Indexation - Capital losses - Husband-and-wife transfers - An overview of CGT incurred by companies - Recent cases - Review of tax reliefs and claims procedures. This is an update course that concentrates on changes to legislation. The exact contents are set about four weeks before the course date and you will find details at www.smarttraining.co.uk
Capital gains update
The course will concentrate on the major issues affecting CGT that you will meet in general practice. The course draws its contents from: Capital gains: Taper relief update - Share disposals - Indexation - Capital losses - Husband-and-wife transfers - An overview of CGT incurred by companies - Recent cases - Review of tax reliefs and claims procedures. This is an update course that concentrates on changes to legislation. The exact contents are set about four weeks before the course date and you will find details at www.smarttraining.co.uk
Inheritance tax update
This course is designed for accountants involved with IHT planning, probate, estates and higher-wealth clients. The course updates major developments and changes to IHT, and the contents are drawn from: The charge to IHT - Tax calculations - The cumulative basis of IHT - Potentially exempt transfers - Exempt assets and transfers - Deeds of variation - Current IHT tax planning - Payment of tax - IHT saving schemes - Business property reliefs - Gifts with reservation of benefit.
The course outlines the reporting and accounting requirements of charities.
It explains the format of accounts required under the regulations, and the issues raised by the Charity SORP and Charities Acts. It highlights the work of the independent examiner and auditor, and it reviews problem areas in undertaking each engagement. The course covers: The Charity SORP - Different categories of charity - Returns to commissioners - Exempt charities - The 'light touch' regime - Definitions of income and expenses - Simplified vs. full accounts - Problem accounting areas - Independent examiner - Qualified audit reports - Auditors' powers - Reporting obligations - Corporate charities - Legal requirements - Charities Act. The course covers all major changes over the last 12 to 18 months and is suitable for accountants in practice and any charity's accountant.
This course provides a complete update on corporate and business tax matters. The contents will be drawn from: Corporation tax update- Review of capital allowances - Self-assessment for companies - Best techniques for extracting profits - Review of interaction with Income tax and National Insurance - Company tax planning - Changes to partnership tax and LLPs - Business tax planning points. Most of this course will be dedicated to corporation tax. The exact contents are set about four weeks before the course date and are shown on www.smarttraining.co.uk
This course covers the major tax events in the previous three to six months, including the Budget and 2008 Finance Bill/Act (as applicable). The course only covers the issues that affect general accountancy practitioners and their clients, including: Parliamentary legislation - Recent case law -Present best practice on major tax issues - Income tax - Corporation tax - CGT - IHT - National Insurance –Stamp duty land tax. The tax updates are held two or three times a year at all venues. The exact contents are set about four weeks before the course and you will find details at www.smarttraining.co.uk.
This course covers the major tax events in the previous three to six months, including the Budget and 2008 Finance Bill/Act (as applicable). The course only covers the issues that affect general accountancy practitioners and their clients, including: Parliamentary legislation - Recent case law - Present best practice on major tax issues - Income tax - Corporation tax - CGT - IHT - National Insurance -Stamp duty land tax. The tax updates are held two or three times a year at all venues. The exact contents are set about four weeks before the course and you will find details at www.smarttraining.co.uk.
Contents for the Finance Bill updates
1 July 1.45pm to 4.45pm – Bolton – Chris Jones
2 July 9.30am to 12.30pm – Chester – Chris Jones
3 July 9.00am to 12.00pm – Wilmslow – Chris Jones
4 July 9.30am to 12.30pm – Preston – Dean Wootten
The contents for these courses are shown below if this affects your booking please let us know on info@smarttraining.co.uk or 01625 858188
PERSONAL TAX
Income Tax Rates and Allowances
FB 2008 - proposed amendment to abolition of income tax starting rate
Changes to savings and investments
Practical implications of new day counting and residence rules
Double Taxation Relief
Offshore Campaign - New Approach
The Remittance Basis Charge And Changes
Budget changes for employees
Removing the £8,500 threshold - consultation response
Not all employee expenses need receipts
Employers' tax and NIC free payments to homeworkers—increase in guideline rate
Demibourne Case - Amended Regulations to Deal with Issues Raised
Employers Annual Return (P35) - meaning of service company
Grace v Revenue and Customs Commissioners SpC 663
SpC 668 Emms v Revenue and Customs Commissioners
CIOT hails new income shifting EDM
CAPITAL GAINS TAX
Capital Gains Tax Reform in the Budget
Entrepreneurs’ relief – are we going backwards?
CGT Entrepreneurs' Relief – FAQs
Entrepreneurs relief – pitfalls and opportunities
Purchase of Own Shares and TR7
Two-year main residence rule
Underwood v Revenue and Customs Comrs [2008] EWHC 108 (Ch)
INHERITANCE TAX AND TRUSTS
Budget proposals
BPR and Share Reorganisations
Burden and another v United Kingdom
Executors Of Mrs Mary Dugan-Chapman & anor v Revenue and Customs Commissioners
Ogden and another v Trustees of the RHS Griffiths 2003 Settlement and others
ADMINISTRATION
Budget proposals for HMRC Powers
Discovery assessments
HMRC compliance checks on property income
BUSINESS TAX
Budget changes for SMEs
Restrictions on Trade Loss Relief for Individuals.
Capital Allowances — Integral Features
CORPORATION TAX
Budget changes for corporates
Phoenix Companies, Concession C16 and ITA 2007, s 684
VALUE ADDED TAX
Budget changes for VAT
Problems and opportunities created by the flat rate scheme
The course is designed for accountants who provide financial services for their clients. This course is also suitable for delegates who want an update on issues that might affect their own investments, and it covers: Pensions - ISAs - PEPs - TESSAs - Unit trusts - Life cover - Critical illness cover - PHI - Long-term care - Strategic financial planning - Traded endowments - All major financial services developments. As with the tax, audit and accounts updates, the exact contents are set about four weeks before the course date and you will find details at www.smarttraining.co.uk.
The course is designed for accountants who are involved in the preparation of financial statements for limited company clients. The course draws its contents from: International Accounting Standards (IAS) - Update on changes to the FRSSE - How IAS will affect the small and medium-sized clients - Common disclosure errors - Disclosure changes brought in by the new Companies Act - Review of common problem areas such as: goodwill, fixed assets, leases and loans etc. The course includes a timetable of key dates for enactment of the new rules. The exact contents are set about four weeks before the course date and you will find details at www.smarttraining.co.uk.
This course is designed to update delegates on tax issues for small and medium-sized groups and covers: Definition of a group, subsidiary and associate - Impact of quarterly accounting - Loss relief - Group loss relief - Joining and leaving the group - Transfer of assets within a group - Inter-company charges - Capital gains tax - Inter-company dividends - Tax planning for groups - Corresponding accounting periods. This course concentrates on the group structures found in general practice.
incorporation and disincorporation
With tax rising and different rates applying depending on the trading status chosen the 'incorporation and disincorporation' decision is back on the agenda. The course reviews the tax pros and cons of different trading formats: Company - LLP - Partnership - Sole trader, or a mix of these. The course covers the key tax issues: Corporation tax - IHT - CGT - Income tax - IR35 -National Insurance - Use of family members in tax planning.
Group tax update
This course is designed to update delegates on tax issues for small and medium-sized groups and covers: Definition of a group, subsidiary and associate - Impact of quarterly accounting - Loss relief - Group loss relief - Joining and leaving the group - Transfer of assets within a group - Inter-company charges - Capital gains tax - Inter-company dividends - Tax planning for groups - Corresponding accounting periods. This course concentrates on the group structures found in general practice.
The course is designed for accounts and audit staff who have about two year's office experience and are new to the role of audit management. The course will cover: Planning and controlling - Completing risk assessments - Documenting accounting systems and controls - Preparing and controlling the budget - Completing the plan - Determining and using materiality - Assessing the risk of fraud - Audit review - Performing a PBSE review - Completing the highlights memorandum - Producing a management letter - Managing junior staff - Reviewing an audit file
The course is designed for accountants who are seeking more effective methods of conducting meetings. This could be with clients, banks, tax authorities etc. The course develops techniques that once applied will result in more efficient and effective meetings.
The course covers:
How to leave meetings feeling you have achieved your objectives - Have your say, whilst appreciating the view point of others - Make your meetings time efficient - The 2 major factors involved in successful meetings - Planning the meeting and setting agendas - Addressing and understanding personality types in the meeting - An understanding of how to use your verbal and non-verbal behaviour to get your viewpoint across - Key points for contributing assertively to meetings - an opportunity to put theory into practice - How to conclude a meeting and action plans
This course is designed for staff who are new to the review of audit and audit-exempt files. The course includes case studies to develop understanding. Setting the audit work - Key items to look for when reviewing - How to report findings to staff - Reporting to partners - File closedown procedures - Audit quality control requirements - Requirements of International Audit Standards - How to de-brief the audit staff.
With tax rising and different rates applying depending on the trading status chosen the 'incorporation and disincorporation' decision is back on the agenda. The course reviews the tax pros and cons of different trading formats: Company- LLP - Partnership - Sole trader, or a mix of these. The course covers the key tax issues: Corporation tax - IHT - CGT - Income tax - IR35 - –National Insurance - Use of family members in tax planning.
With tax rising and different rates applying depending on the trading status chosen the 'incorporation and disincorporation' decision is back on the agenda. The course reviews the tax pros and cons of different trading formats: Company - LLP - Partnership - Sole trader, or a mix of these. The course covers the key tax issues: Corporation tax - IHT - CGT - Income tax - IR35 -National Insurance - Use of family members in tax planning.
Tax planning for 5 April 2008
(inc. PAYE, NI and P11Ds update for 2007/08)
The course is designed for all practitioners and staff with clients who will be required to submit year-end returns or take tax-planning action for 5 April 2008. The course reviews current problem areas with particular focus on recent and impending developments, and potential problem areas. The course will draw its contents from: Scope of the charge on employees - Termination payments - Expenses and benefits-in-kind update for 2007/08 - PAYE and National Insurance Contributions - Payroll changes - Monthly and end-of-year obligations - CGT planning for 5 April 2008 - Planning for director's payments, bonuses and pensions - Dividend planning - Capital allowance planning
The course is designed for practitioners with clients who might be considering retirement and need to consider the tax implications. The course will draw its contents from: Tax problems associated with retirement - Tax-efficient investments - Maximising pension contributions - Phased retirement and income withdrawals from pension plans - Exit routes from a family company or OMB - CGT planning on retirement - Tax planning on emigration - Tax considerations for pensioners - IHT issues
The course is designed for practitioners with clients who might be considering retirement and need to consider the tax implications. The course will draw its contents from: Tax problems associated with retirement - Tax-efficient investments - Maximising pension contributions - Phased retirement and income withdrawals from pension plans - Exit routes from a family company or OMB - CGT planning on retirement - Tax planning on emigration - Tax considerations for pensioners - IHT issues
incorporation and disincorporation
With tax rising and different rates applying depending on the trading status chosen the 'incorporation and disincorporation' decision is back on the agenda. The course reviews the tax pros and cons of different trading formats: Company - LLP - Partnership - Sole trader, or a mix of these. The course covers the key tax issues: Corporation tax - IHT - CGT - Income tax - IR35 -National Insurance - Use of family members in tax planning.
tax issues of buying and selling private businesses
The point at which a business is sold or bought presents high risk to the tax practitioner. Being up to date with the current best practice is essential. This course covers: Pre-sale planning - Changing the client structure before sale, such as shareholdings, legal format and transfer of assets - Capital gains tax - Taper relief - Extraction of profits before sale - Sale to third parties - Sale to family members - Retirement planning - Tax issues of using pension funds in sale and purchase of businesses - How to shelter and defer capital gains - Inheritance tax issues - Management buyouts - Buying and selling unincorporated businesses. The course only looks at issues that affect the sale of SMEs.
This course is designed for accountants involved with IHT planning, probate, estates and higher-wealth clients. The course updates major developments and changes to IHT, and the contents are drawn from: The charge to IHT - Tax calculations - The cumulative basis of IHT - Potentially exempt transfers - Exempt assets and transfers - Deeds of variation - Current IHT tax planning - Payment of tax - IHT saving schemes - Business property reliefs - Gifts with reservation of benefit.
The course is designed for accountants who are involved in the preparation of financial statements for limited company clients that have to or will have to comply with International Accounting Standards. The course will take the format of a full day-long workshop, allowing the topics to be fully covered. The course combines a mix of instruction and case studies to develop a thorough understanding of the new standards. The course is limited to a maximum of 25 delegates. The course covers: Background to the new standards - Layout and style of accounts and primary statements - Key changes from existing legislation - Coverage of the most frequently used standards / High-impact standards - Low-impact standards - Problem areas.
Designed for: senior students and audit staff with at least two years' audit and accounts experience. Analytical review is a vital part of any accountancy assignment to help reduce costs and ensure that the figures 'make sense'. Analytical review (AR) is central to understanding the client's business and a springboard for providing added-value services. The course covers: The audit and accounts guidelines - Uses and abuses - Using AR to save time and money - Types and timing - Calculation - Planning - Audit and accountancy assurance - Profit and loss - Balance sheet - Reduction of other tests - Investigating unusual items - Review of financial statements - Impact of the new audit standards. The course is limited to a maximum of 25 delegates.
The course is designed for staff with at least two years' accountancy and audit experience. Senior staff are usually involved in the planning of audits. The course looks at the audit planning required under new International Audit Standards. The course draws its contents from: What an audit plan is - Developing an audit plan - The audit briefing document - Setting budgets - Briefing staff - International Audit Standards - Developing the audit programmes - Audit materiality - Identifying risk and reacting to it. Planning the file review - How to document and record evidence - Reporting findings to staff - Supervisory skills - Effect of the review process on junior staff - Reporting findings to partners. The course will include case studies to develop audit skills.
The course should be attended by junior accounts staff who are new to auditing. The course is highly practical and concentrates on the work that staff will complete on audits. The course will cover: The objectives and composition of the audit team and the role of the audit junior within it - How to complete key profit and loss account and balance sheet audit tests - Key 'do's and don't's' when documenting audit fieldwork, its results and conclusions - Common pitfalls for audit juniors and how these can be avoided - Legal back ground to auditing - Overview of the control environment e.g. audit standards, what a work programme is -
What an audit report is
Designed for: employees with 12 to 18 months' experience of working in general practice. The benefits-in-kind system is complex and full of deadlines and penalties, but it can be safely delegated to well-trained staff. The course looks at the BIK system for 2007/08, from both the employer's and employee's viewpoints. The course covers: P11Ds using sample data - Expense claims - Car benefits - Class 1A - Loans - Other major benefits (such as phone use and healthcare) - Assessments - Coding notices - Payment of tax - Administration of the benefits system under self-assessment.
Designed for: employees with little or no experience of income tax. This course is ideal for staff with 12 to 24 months' office experience who will be completing the 2007/08 tax returns. It guides the delegates through the self-assessment forms and procedures for completing the major schedules using sample data and case studies on: Self-employment - Employment - Dividends and bank interest - Personal allowances - Schedules - Tax computations - Filing dates - SA administration explained.
Designed for: employees with 12 to 18 months' experience of working in general practice. The course is designed for junior staff as a basic overview of corporation tax, and it covers: Allowable and disallowable expenses - Tax computations - Treatment of directors' salaries, pensions and dividends - Completion of SA600 - Capital allowance computations. To attend this course, delegates must be able to prepare accounts and be familiar with basic statutory accounts formats.
The course is designed for staff who are new to completing financial statements for audit or audit exempt companies. Key financial statements disclosure requirements and sources of rules for FRSSE and non-FRSSE companies - Using disclosure checklists effectively when producing statutory accounts - Frequently met areas: Fixed assets, leases, stock, debtors, creditors, share capital - Key problem areas including related parties, prior year adjustments and provisions. Accounts preparation for audit exempt clients with special consideration and minimum documentation requirements. The course concentrates on issues not met in exam training since the course looks at SMEs which is not a core part of most exam syllabuses.
Designed for employees who have little or no experience of preparing payrolls. The PAYE system is suitable for delegation and, as the tax year-end approaches and the P35s/P14s build up, this is the time to train your staff. The course will look at the PAYE system from the viewpoint of both the 2007/08 year-end returns and the changes for the next tax year, and it covers: Tax calculations - Lower/basic/higher rate - National Insurance (employers' and employees') - P14s/P60s - Deductions - P46s - P35s - Payment of tax - Overview of SSP.
introduction to solicitors' accounts rules
This course is designed for delegates who are new to solicitors' accounts rules but have at least two years' accounting experience. It is not suitable for new starters.
It highlights the main problem areas and potential reporting solutions. The course covers: The latest versions of the solicitors' accounts rules required by the Law Society - The rules and regulations - Reporting - Reporting breaches of the rules - Audit testing - Testing during the accounting period - Overdrawn client accounts: the implications and the actions required - Errors and mistakes - Mistakes you must report - Mistakes you do not have to report - Books of account - Authorisation of transactions. The course is limited to 25 delegates and includes the completion of case studies to develop understanding.
The course is designed for accountants with a good working knowledge of the self-assessment tax system but little or no knowledge of the taxation of trusts. The course will concentrate on small trusts met in general practice, and will draw its contents from: Definition of a trust - Types of trust - Overview of the taxation of trusts - Taxation of trust income - Taxation of capital gains - Completion of basic trust tax returns - Payments to beneficiaries - Role of the trustees - Basic calculation of trust tax liabilities. The course is highly practical, includes case studies and is limited to a maximum of 20 delegates.
Designed for: junior staff with less than 12 months' experience who will be expected to complete VAT returns. This is a highly practical course during which delegates will complete the actual HMRC forms and carry out vital calculations covering: Registration - Basic VAT returns - Outputs - Inputs - Use of credit notes - Bad debts - De-registration - Payments - Default surcharges - The penalty regime - Cash accounting - Car scale charges - Blocked VAT. The course also highlights common mistakes in preparing VAT returns.
Designed for: staff who have not met the topics shown below or have only a basic knowledge of them. The course is full of case studies and examples to help the delegates master the subjects. The course covers: Entertaining, travel and subsistence expenses - Flat rate scheme - Penalties - Outline of EC rules - Flat-rate schemes - Detailed review of inputs and outputs - The VAT treatment of cars and vans
The course is designed as a refresher of the existing rules and full coverage of the December 2007 changes:
- Refresher of the existing rules
- December 2007 changes
- New ID procedures – what you must do and what
-The 2007 SOCA annual report
- What you must report
- How to report on-line
- Limited Value Reports
- CCAB guidance on the new regulations.
The new regulations will be covered in Bolton, Chester, Preston and Wilmslow in the Six-monthly 'Accountancy and Practice regulation updates'.
Bolton - 20 May
Chester - 23 May
Wilmslow - 5 and 16 June
Preston - 12 May
This course is only being held in York
The course is designed for accountants whoa ct as intermediaries between their clients and HMRC and want to get more from these interactions. Want to develop a consistent, professional approach to participating in tax investigations and would like a deeper understanding of the tax investigation process combined with a psychological perspective
This Masterclass will cover:-
An insight into the tax investigation process - Managing the process: before, during and afterwards - How to prepare your client for the tax investigation including: setting objectives, strategies - Behavioural boundaries - How to prepare yourself for the tax investigation including: setting objectives, beliefs, positive assertive attitude, aiming for a WIN: WIN -
Personal and professional boundaries working within them - Increased understanding about the impact behaviour - yours and theirs - will have on the - tax investigation process
Strategies for handling intimidatory behaviour - An appreciation of the impact that non-verbal communication plays in the tax investigation process - How to ask challenging questions and answer them - How to appreciate the tax investigation process from an HMRC perspective - and why it - matters that you do - Practical application. The course will not cover the legal aspects of tax investigations.
Margaret will be presenting training courses for HMRC at their annual winter conference in 2006 so bringing an insight of the problems facing Inspectors. Margaret is Qualified in Assertiveness, Counselling and Stress Management, Margaret is also an NLP Master Practitioner, an author - contributing to, amongst others, Training Journal.
Margaret's blend of psychology-based training and business experience will ensure that the personal skills and insight that were to have been covered on the original course will be more than covered on this revised course.
This course covers the major tax events in the previous three to six months, including the Budget and 2008 Finance Bill/Act (as applicable). The course only covers the issues that affect general accountancy practitioners and their clients, including: Parliamentary legislation - Recent case law - Present best practice on major tax issues - Income tax - Corporation tax - CGT - IHT - National Insurance -Stamp duty land tax. The tax updates are held two or three times a year at all venues. The exact contents are set about four weeks before the course and you will find details at www.smarttraining.co.uk.
taxation of the family unit
This course updates delegates on the current tax situation affecting the taxation of the family. The course draws its contents from: Income tax issues - Tax Credits - National Insurance - Passing wealth down the family - Providing for dependents - Retirement issues - Inheritance tax - Transfer of the family home - Tax issues relating to dependant grandparents - Use of tax exemptions - Use of trusts in family tax planning - Payment of school fees - Husband and wife transfers
partnership and LLP tax update
This course updates delegates on the current tax situation of partnerships and the tax-planning opportunities they promote. The course covers: Definition of a partnership -
Self-assessment issues - Allocation of profits - Partners' expenses - Capital allowances - Husband-and-wife partnerships - Case law developments - CGT issues affecting partnerships - Tax treatment of limited liability partnerships (LLPs) - Other topical partnership tax issues.
Solicitors' accounts rules are complex and change regularly, and errors in your procedures can be costly. The course gives delegates a thorough understanding of the rules involved in holding clients' money. It highlights the main problem areas and potential reporting solutions. The course covers: The latest versions of the solicitors' accounts rules required by the Law Society - The rules and regulations - Reporting - Reporting breaches of the rules - Audit testing - Testing during the accounting period - Overdrawn client accounts: the implications and the actions required - Errors and mistakes - Mistakes you must report - Mistakes you do not have to report - Books of account - Authorisation of transactions. This is an update course and is not suitable for junior staff.
The tax-efficient extraction of profit from the family company has become more and more important as tax rates have risen. This course explores the current best techniques to ensure that you know the most tax-efficient routes, and draws its contents from: Incorporation: is it the best option for your client? - Would a sole trader or partnership status be preferable? - Revenue extraction: bonus vs. dividend vs. salary vs. pension - Timing of payments - Dividend waivers - Payments to family members - s660A - Capital extraction - Update on definition of a business asset - Retirement planning - New pension rules
HMRC are pouring resources into making the enquiry regime ever more effective. The experience of most clients is that investigations are intrusive, aggressive and stressful. Many practitioners will not have had the detailed training given to inspectors in this area and may be vulnerable at just the time when their clients need their help the most. This course provides a comprehensive and practical review of the enquiry process. The lecturer will draw on his extensive practical experience to provide an insight into how different parts of the enquiry process might be approached by HMRC and managed more effectively by the professional adviser. The enquiry process is a game with high stakes make sure you understand the rules and tactics that can be employed to get your clients the best results. The course will draw its contents from: The legal background - Recent changes - Compliance structures at HMRC - Selection and how to avoid it - Opening an enquiry - Records - Interviews - Re-computation of profits - Settlement
The point at which a business is sold or bought presents high risk to the tax practitioner. Being up to date with the current best practice is essential. This course covers: Pre-sale planning - Changing the client structure before sale, such as shareholdings, legal format and transfer of assets - Capital gains tax - Taper relief - Extraction of profits before sale - Sale to third parties - Sale to family members - Retirement planning - Tax issues of using pension funds in sale and purchase of businesses - How to shelter and defer capital gains - Inheritance tax issues - Management buyouts - Buying and selling unincorporated businesses. The course only looks at issues that affect the sale of SMEs.
(inc. PAYE, NI and P11Ds update for 2007/08)
The course is designed for all practitioners and staff with clients who will be required to submit year-end returns or take tax-planning action for 5 April 2008. The course reviews current problem areas with particular focus on recent and impending developments, and potential problem areas. The course will draw its contents from: Scope of the charge on employees - Termination payments - Expenses and benefits-in-kind update for 2007/08 - PAYE and National Insurance Contributions - Payroll changes - Monthly and end-of-year obligations - CGT planning for 5 April 2008 - Planning for director's payments, bonuses and pensions - Dividend planning - Capital allowance planning
The course is designed for practitioners with clients who might be considering retirement and need to consider the tax implications. The course will draw its contents from: Tax problems associated with retirement - Tax-efficient investments - Maximising pension contributions - Phased retirement and income withdrawals from pension plans - Exit routes from a family company or OMB - CGT planning on retirement - Tax planning on emigration - Tax considerations for pensioners - IHT issues
Tax planning for 5 April 2008
(inc. PAYE, NI and P11Ds update for 2007/08)
The course is designed for all practitioners and staff with clients who will be required to submit year-end returns or take tax-planning action for 5 April 2008. The course reviews current problem areas with particular focus on recent and impending developments, and potential problem areas. The course will draw its contents from: Scope of the charge on employees - Termination payments - Expenses and benefits-in-kind update for 2007/08 - PAYE and National Insurance Contributions - Payroll changes - Monthly and end-of-year obligations - CGT planning for 5 April 2008 - Planning for director's payments, bonuses and pensions - Dividend planning - Capital allowance planning
Capital allowances and business incentives
This course is designed to update delegates on the current rules relating to capital allowances and other business incentives. The course draws its contents from: Definition of plant and machinery - Assets qualifying for capital allowances - Cars and vans - Special capital allowances - Industrial building allowances - Balancing charges and allowances - Enterprise zones - Interaction with CGT - Research and development - Goodwill - Avoidance legislation - Review of deductible allowances - Tax planning for capital allowances - Review of repair vs. capital - Review of recent cases and contentious areas - Commencement and cessation provisions - Contentious receipts and deductions.
Tax planning for 5 April 2008
(inc. PAYE, NI and P11Ds update for 2007/08)
The course is designed for all practitioners and staff with clients who will be required to submit year-end returns or take tax-planning action for 5 April 2008. The course reviews current problem areas with particular focus on recent and impending developments, and potential problem areas. The course will draw its contents from: Scope of the charge on employees - Termination payments - Expenses and benefits-in-kind update for 2007/08 - PAYE and National Insurance Contributions - Payroll changes - Monthly and end-of-year obligations - CGT planning for 5 April 2008 - Planning for director's payments, bonuses and pensions - Dividend planning - Capital allowance planning
taxation of the family unit
This course updates delegates on the current tax situation affecting the taxation of the family. The course draws its contents from: Income tax issues - Tax Credits - National Insurance - Passing wealth down the family - Providing for dependents - Retirement issues - Inheritance tax - Transfer of the family home - Tax issues relating to dependant grandparents - Use of tax exemptions - Use of trusts in family tax planning - Payment of school fees - Husband and wife transfers
Tax planning for retirement
The course is designed for practitioners with clients who might be considering retirement and need to consider the tax implications. The course will draw its contents from: Tax problems associated with retirement - Tax-efficient investments - Maximising pension contributions - Phased retirement and income withdrawals from pension plans - Exit routes from a family company or OMB - CGT planning on retirement - Tax planning on emigration - Tax considerations for pensioners - IHT issues
taxation of the family unit
This course updates delegates on the current tax situation affecting the taxation of the family. The course draws its contents from: Income tax issues - Tax Credits - National Insurance - Passing wealth down the family - Providing for dependents - Retirement issues - Inheritance tax - Transfer of the family home - Tax issues relating to dependant grandparents - Use of tax exemptions - Use of trusts in family tax planning - Payment of school fees - Husband and wife transfers
This course updates delegates on the current tax situation affecting the taxation of the family. The course draws its contents from: Income tax issues - Tax Credits - National Insurance - Passing wealth down the family - Providing for dependents - Retirement issues - Inheritance tax - Transfer of the family home - Tax issues relating to dependant grandparents - Use of tax exemptions - Use of trusts in family tax planning - Payment of school fees - Husband and wife transfers
taxation of the family unit
This course updates delegates on the current tax situation affecting the taxation of the family. The course draws its contents from: Income tax issues - Tax Credits - National Insurance - Passing wealth down the family - Providing for dependents - Retirement issues - Inheritance tax - Transfer of the family home - Tax issues relating to dependant grandparents - Use of tax exemptions - Use of trusts in family tax planning - Payment of school fees - Husband and wife transfers
Tax efficient extraction of profit from companies
The tax-efficient extraction of profit from the family company has become more and more important as tax rates have risen. This course explores the current best techniques to ensure that you know the most tax-efficient routes, and draws its contents from: Incorporation: is it the best option for your client? - Would a sole trader or partnership status be preferable? - Revenue extraction: bonus vs. dividend vs. salary vs. pension - Timing of payments - Dividend waivers - Payments to family members - s660A - Capital extraction - Update on definition of a business asset - Retirement planning - New pension rules
This tax masterclass is designed for those delegates who want to extend their practical tax knowledge to the very highest levels. The masterclass examines topics in far greater depth than in other sessions and covers:
the legislation underlying each subject; practical planning implications and issues; and a review of relevant administration and compliance procedures.
The tax masterclass lasts a full day and will consider taxation issues arising for high income and net worth individuals, companies and entrepreneurs. The course topics will be drawn from: Capital gains tax - Tax saving and planning when establishing SMEs - Tax planning for fast growing businesses - Share schemes for the small business - Corporation tax planning - Interaction of the business and the family - Disposal of the business - Tax-efficient investment - Capital allowances. The masterclass will include case studies that delegates will complete, which are designed to enhance their appreciation and understanding of practical tax issues. We encourage delegates to bring any text books they feel may be of use during the course. To facilitate this approach the course is limited to a maximum of 25 delegates.
The course is designed to update accountants on significant developments in employment law regulations. The course is suitable for accountants with employees and is essential knowledge when acting for private-practice clients or working in industry. The exact contents will be finalised about four weeks prior to the course start date to ensure it reflects all relevant changes to employment law. The contents will be drawn from: Pre-employment considerations: Advertising for employees - The interview - Discrimination. Review of employee's rights - Dismissal and disciplinary procedures - Remedies, damages and compensation - Common employment errors - Transfer of undertakings - Part-time employees - Short-term contracts - Stress: is your practice or business exposing employees to stress? What is the legal definition of stress? - Maternity and paternity rights - Redundancy - Overview of working-time regulations. The course will include updates on contents covered in 2007 but aims to cover new areas and developments.
The Independent Examination of Charities
a) what is an independent examination, and what entities are subject to one
b) who can do an independent examination
c) what qualifications are necessary
d) what are the formalities for appointment - how is it that certain qualified accountants may not be permitted to do the work, yet many will
e) what compulsory initial steps should be taken
f) what are the precise requirements for verification, evidence and documentation
g) what working papers should be maintained and for how long
h) what certificate is required and how should it be signed
i) the pitfalls of independent examination
j) professional indemnity and practising rules implications
k) how are the rules different in Scotland and NI
This course is only being held in York
The course is designed for accountants who are either seeking to achieve a paperless office or are considering moving in that direction. The course covers: Benefits and problems of a paperless approach - Required internal office disciplines - All paperless or only partly? - Dealing with the transition - Legal constraints - Opportunities for staff doing their work from anywhere in the world - It can reduce the premises overhead, so either fees can be lower or profits higher or both - A systemised approach can mean less qualified staff at a lower cost doing high quality work - The reality is that paper cannot be banished in particular how do you cope with other people's paper - Security - Required hardware and software - Cost benefit - Even a very small practice can benefit overnight with a very small investment
Trusts can form a vital tax-planning tool for clients, so a good knowledge of the tax issues is vital. This course is not designed for 'experts' and you don't need any high-level knowledge of trusts to attend. The course looks at trusts that you will meet in general practice and covers: Definition of a trust - Overview of the taxation of trusts - The settlor and beneficiaries (who they are and who they can be) - Current law and practice on trusts - Types of trusts - Tax treatments - Avoidance provisions - A and M trusts - Discretionary trusts - Trusts and family tax planning. Delegates who are new to trusts might consider attending the Introduction to Trusts course.
The course is a comprehensive review of tax and VAT laws that apply to Charities. The course covers: Definition of a charity for tax purposes and the impact of the Charities Act 2006 - Basic tax exemptions for charities - Statutory exemptions in ITA 2007 and TA 1988 and related concessionary exemptions - Problem areas - Trading income and the tax exemption for trading income - New guidance issued by the Charity Commission - Finance Act measures affecting charities - Substantial donors and the taxation of trading profits - Tax reliefs for donors to charities - Recent changes to gift aid relief - VAT for charities and classification of activities - Business or non-business activities - Input tax recovery - VAT on building works - Recent important case law decisions affecting charities.
The course gives comprehensive coverage of the tax issues revolving around land and property and draws its contents from: The definition of land and property for tax purposes - Capital gains tax considerations - Tax planning for the purchase - Capital gains tax on disposals - Tax relief on loans - Treatment of rental income - Rent-a-room relief - Capital Allowances Act - Repairs and renewals - Property leases - New stamp duty rules - Capital vs. revenue and property improvements - Issues determining the legal entity to own the property - Tax issues for properties owned by limited companies.
The course is designed for accountants who regularly find they do not have enough hours in the day. This practical workshop will show delegates how to manage themselves and how this makes the most impact on managing time.
The course covers
Clear insights into how to utilise time more effectively - How you manage yourself in relation to the time you, and everyone else, has available to you - How to find your 'time thieves' - Identifying your individual 'time style' - Do it now! So avoiding procrastination - An introduction to the 'Time Management Matrix' - When, and how, to say no to requests - Managing other people's expectations -Personal organisation and How to prioritise tasks and assignments - Evaluation - The course will include methods to evaluate future time management performance.
As more clients consider living or working outside the UK, the tax implications of such a move are vitally important. The course covers: Definition of residence and domicile - Tax-planning opportunities for non-domiciles and periods spent abroad - Tax treatment of offshore investments and properties - UK employment contracts when working abroad - Planning for departures and timing of return visits - CGT implications - Transfer of assets abroad - Tax exemptions and reliefs - Interaction with IR35 for contractors - Tax consideration of the principal residence while abroad - Remittance basis - Rental income and other UK-based income derived during the period abroad.
UK tax implications of working or living overseas
As more clients consider living or working outside the UK, the tax implications of such a move are vitally important. The course covers: Definition of residence and domicile - Tax-planning opportunities for non-domiciles and periods spent abroad - Tax treatment of offshore investments and properties - UK employment contracts when working abroad - Planning for departures and timing of return visits - CGT implications - Transfer of assets abroad - Tax exemptions and reliefs - Interaction with IR35 for contractors - Tax consideration of the principal residence while abroad - Remittance basis - Rental income and other UK-based income derived during the period abroad.
Tax planning for retirement
The course is designed for practitioners with clients who might be considering retirement and need to consider the tax implications. The course will draw its contents from: Tax problems associated with retirement - Tax-efficient investments - Maximising pension contributions - Phased retirement and income withdrawals from pension plans - Exit routes from a family company or OMB - CGT planning on retirement - Tax planning on emigration - Tax considerations for pensioners - IHT issues
The course is designed for practices that carry out audit work either for trading companies or the regulated sector such as charities, small pensions and FSA-regulated clients. The course provides an update to changes in auditing. The course will draw its contents from: Review of the impact of the New audit standards - Changes to planning requirements - Permanent files - Assessment of risk - New quality-control procedures - Use of substantive procedures - Appointment and reappointment procedures - Changes to the nature of audit work - Changes to completion procedures - Link with International Accounting Standards - New audit ethics - Update on the guidance on informed management and division of auditing and accounting duties. The course will focus on current developments and trends in auditing.
This course covers recent changes in VAT and will be tailored to general accountancy practice requirements. The course covers: New legislation - Budget changes - Case law - Tribunal decisions - New EC VAT rules - Tax-planning points - HMRC approach to compliance visits. The exact contents are set about four weeks before the course date and you will find details at www.smarttraining.co.uk.