The September Fest 2020 – Tax & Technical

CPD Course Overview

Session 1: Using Tax Measures to Conserve Cash Flow and Create Opportunities in a Downturn

CPD Course Speaker: John Murphy & Yvonne O’Sullivan – OmniPro

Session 2: Charity Covid Considerations

CPD Course Speaker: Ivan Cooper – The Wheel

Session 3: Topical VAT Issues

CPD Course Speakers: Patrick Fannon – RBK

Session 4: Effective Professional Ethics

CPD Course Speakers: Ulrich Schackermann – Consultus Professional Services

Session 5: Trusts – Tax and Legal Consequences

This session will cover the following topics:

1. It is vital for practitioners to be aware of the different types of trusts available.
2. Be aware of the tax consequences of these trusts
3. Learn ways to reduce tax exposure for all parties to the Trust

CPD Course Speaker: James Bradley – James Bradley & Co

Session 6: Monitoring Visits in a Covid-19 World

Even during the Covid-19 situation we’re facing, unfortunately compliance visits are still mandatory for both audit and non-audit firms.

Receiving notification of the monitoring visit can be a very stressful time for a firm with the fallout from Covid-19 only adding to this stress

Firms need to pass to ensure they stay on the right side of regulation as failure to pass will attract unwanted attention from the Institute and potential regulation and disciplinary issues

Preparation is key and especially during this period of Covid-19, knowing what is involved will assist firms to prepare

During this session we’ll guide you through the changed process and cover the following topics;

• Topic 1:                An Overview of the ‘New’ Monitoring Process;
• Topic 2:                The Whole Firm Review Process and top whole firm issues;
• Topic 3:                Anti-Money Laundering Review and top issues;
• Topic 4:                Top Audit File Issues;
• Topic 5:                The Post Monitoring Process.

CPD Course Speaker: Colm Owens – OmniPro

Session 7: Succession Planning for Owner Managed Businesses

Mark will present on the main succession planning tax reliefs for owner managed businesses including a review of the main conditions for relief, a number of worked examples and recent relevant Tax Appeal Commission decisions.

During this session we will examine:

• Retirement relief and business relief
• Work though a number of examples
• Recent TAC cases
• Share buybacks

CPD Course Speaker: Mark Doyle – Doyle Keaney

Session 8: Solicitors Accounting & Reporting

With continued media attention on solicitors when things go wrong, the role of the Reporting Accountant continues to come under scrutiny from both the Law Society and the various Accountancy Bodies.

With that backdrop the purpose of this session is to deal with the provisions of the solicitors accounts regulations focussing particularly on the role of the reporting accountants, to give  an insight into the types of issues that the Law Society investigating accountants encounter and identify risk factors when  reporting on solicitors accounts.

This session will cover the following:

• The Legislative Requirements – Solicitors Accounts Regulations 2014
• The Law Society Accountants Report & Reporting of Breaches of the SARs
• Planning a Solicitors Engagement & the Requirements of the Reporting Accountant;
• The Law Societies Role & Issues arising on Inspections;
• Problem or Risk areas & upcoming changes.

CPD Course Speaker: Colm Owens – OmniPro

Session 9: Brexit Considerations and Covid-19

Rose Tierney will be discussing the following in this session and much more:

• Covid-19 Temporary Measures
• Personal Tax Residence – ROI
• Statutory Residence – UK
• Employer Payroll Obligations – ROI & UK
• Employer / Employee Wage Supports
• Brexit  – The Story so far
• VAT & Duty Update
• Customs and Logistics
• Tariff Classification

CPD Course Speaker: Rose Tierney – Tierney Tax Consultancy

Session 10: AML – Including Recent Legislative Updates and COVID-19 Considerations

This session will focus on a review of the impact of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2018, incorporating:

• Practical advice and guidance for MLROs
• Business Risk Assessments and how to prepare this
• The components of good Customer Due Diligence- how to assess clients as low/medium/high risk
• Politically exposed persons and enhanced procedures
• Guidance for firms when they encounter suspicious activity
• How and when professional privilege can be used
• Recent legislative updates including changes to the reporting regime
• Update on topical issues such as COVID-19 and AML directives to be implemented

CPD Course Speaker: Mike O’Halloran – OmniPro

Session 11: Tax On Property – 2020 Update

The taxation of property transactions is a major financial concern for clients through ordinary and extraordinary economic times. The automatic publication of determinations by the Tax Appeals Commission in recent years has provided an invaluable insight into Revenue’s views on some contentious matters in the area of property taxation. Through the format of reviewing some recent tax appeals cases, this presentation will provide an update on the prevailing interpretation in some areas of tax on property including:

• The distinction between rental income and trading income from property
• The meaning of sole or main residence
• Allowable deductions from rental profits
• The impact on various tax heads of changes in property law

CPD Course Speaker: Daragh O’Shaughnessy – AITI, Chartered Tax Advisor

Session 12: The Built to Sell Strategy for Accountants

With the Coronoavirus crisis ongoing currently you may not be thinking about selling your firm, but whether you are a new start-up firm, a well established firm or someone who is looking at considering your exit options this webinar is for you. None of us are going to last forever and everyone who starts a business needs to have an exit plan. Even if you never want to exit building a saleable firm means you are building a more profitable and less stressful business. Who does not want that?

Right now the world is changing, the business world is changing and the accounting business world is changing. Coronavirus has given us the opportunity to make changes in a way that is not possible in “normal” times. Now is the time to look at what you really want in your business, what your non-negotiables are and make the changes. The Built to Sell Strategy is the corner stone of every businesses strategy.

In this session we look at what the components and characteristics of a saleable business and the 7 steps for you to follow to build your business to make it a scaleable cash generating asset. These steps include

1. Developing Products or Services with the Potential to Scale
2. Identifying Ideal Customers to Buy those Products and Services
3. Creating a Positive Cashflow Cycle
4. Building a Team
5. Developing a System to Deliver the Result
6. Develop a Single Focus Growth and a Sales Process
7. Incentive Scheme for Senior Team Members

If nothing else right now who doesn’t want a positive cashflow cycle?
Join Des O’Neill for this fast paced practical and informative session to start the process of building an easier more profitable business.

CPD Course Speaker: Des O’Neill – OmniPro

Session 13: Update on the Wage Subsidy Schemes

With the recent introduction of the second major wage subsidy scheme in 6 months this seminar will bring the attendee up to date with the current live issues as they unfold. It will highlight issue that are emerging with the EWSS and issues being carried forward from the TWSS including the Revenue reconciliation project and the taxation of employees who received the subsidy.

• Key aspects of EWSS –
• continuous qualifying criteria review & qualifying employees
• TWSS carry forward issues –
• subsidy reconciliation and employer repayments
• employee tax liabilities
• proprietary director tax liabilities

CPD Course Speaker: Paul Murphy – Martin J. Kelly & Co

Session 14: KnowledgeHUB – Top Technical Issues Autumn 2020

This session will cover the following topics:

• Form 11 for 2019 – Directors salaries on an earned basis – payments after year end – How to practically apply & what to document?
• Some of the CRO changes over the past couple of months – share redemptions etc.;
• Documenting ex-gratia payments where voluntary strike off route is taken
• Accounting for share for shares – What to watch between the two accounting standards – FRS 105/102 – Whether the FRS 102 follows Company law get outs. Our preference on the route to take and why
• What are the implications for Irish and UK auditors in a post BREXIT world
• Auditing Financial Statements where a Revenue Audit is ongoing
• Acting as a company secretary through a company secretarial company;
• Changes in professional appointments, fee issue and books and records etc
• Proprietary Directors – Post Year End Bonus / Salary

CPD Course Speakers: John Murphy, Mike O’Halloran, Colm Owens, Yvonne O’Sullivan & Lisa Cosgrave – OmniPro

Session 15: Income Tax Planning and Changes to 2019 Income Tax Return

In this session, Michael Smith will cover the following topics:

• Extract funds in a tax efficient manner
• Pensions/RAC contributions
• Termination payments
• Changes to the 2019 Income Tax return
• Income tax compliance issues
• How completion of returns can lead to Revenue enquiries

CPD Course Speaker: Michael Smith – FS Taxation

Session 16: Current Financial Reporting Issues – FRS 102, S.1A FRS 102 and FRS 105

This session will cover real life queries and issues that we are getting asked by Accountants in practice as well as various issues that are being identified by monitors.

CPD Course Speaker: John Murphy – OmniPro