Basis Period Reform 1.5 Credits
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Have you ever wondered how the upcoming Basis Period Reform could impact your business and clients? The seismic shift in how trading profits are calculated for unincorporated businesses is set to take full effect from April 2024, making the transitional year 2023/24 a critical period. If your accounts don't align with the traditional 31 March or 5 April year-end, get ready for substantial changes. The silver lining is that businesses following the standard year-end aren't affected. But for others, this reform brings not only increased tax admin burdens and costs but also temporary spikes in tax bills, affecting areas like student loan repayments and pension contributions.
As we dive into the tax year basis in 2024/25, clients with different year-ends face the challenge of apportioning taxable profits for two accounting periods. This necessitates estimating and correcting figures annually if the accounts for the second period aren't finalized in time. Brace yourself for heightened compliance burdens. The transitional year 2023/24 introduces intricate rules governing taxed profits and calculations, with overlap relief and spreading excess profits offering both complexity and planning opportunities.
This CE Tax Course covers the following Key Topics:
In our online webinar, we'll dissect the intricacies of the new basis period rules, exploring who's affected, who's not, and the implications for you and your clients. With a practical approach, we'll unravel complexities using examples, spotlight practical challenges, pitfalls, and potential planning opportunities.
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Emma’s focus is on emerging tax policy, and she works closely with HMRC and the Treasury. She also strongly believes in sharing her knowledge about and love of tax with others. Whether that’s members of the accounting and tax profession through articles and talks, or the general public through media work and school visits.
Emma has a main focus on business and employment taxes, and frequently contributes articles on topical tax issues to leading tax and accountancy publications. She has presented talks and webinars around the country, as well as appearing on BBC Radio 5Live and BBC News to discuss tax issues and providing oral evidence to committees of both the House of Lords and House of Commons.
Emma is a member of the Association of Taxation Technicians (ATT) and Chartered Institute of Taxation (CIOT), and a Fellow of the Institute of Chartered Accountants of England and Wales (ICAEW).
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To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.
Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
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We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.
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