COVID 19 - Getting to Grips with Tax Issues

Advising Individuals, Employers and Businesses

Can I be sure that I have identified all the tax opportunities and fulfilled all the requirements needed to assist my clients during 2020?

Advising Employers

This will include a recap on key issues arising under the Job Retention Scheme Phase 1 and Phase 2. This is critical knowledge for all accountants and advisers who have clients who are employers, as it will be needed to ensure that you can assist clients to correct errors and repay overclaims to avoid penalties. Worked examples will be included demonstrating the different approach required for fully furloughed and flexible furloughed employees.

In some cases, clients will now be making redundancies so getting to grips with the interaction with CJRS as well as tax termination payment rules will be required. A review of the tax rules of terminations will be included.

Advising Individuals and Trusts

What tax reliefs should I be revisiting for individual clients?

• HICBC and Child Benefit
• Marriage allowance
• Accelerating losses
• Tax distributions and refunds
• Residence issues
• Home working deductions and other expenses

Advising Businesses including companies

This session focuses on the non-employer/employee related tax matters emerging under COVID 19 for individuals and businesses.

Specifically, it will cover:

• The SEIS scheme – did they make the correct claim?
• Using losses- business and company
• Change of Accounting Date
• VAT matters