The government has announced that basis periods for income tax purposes (commonly known as ‘the current year basis’) will be abolished from 6th April 2024. From that date sole traders and partnerships will be taxed on their net profits earned for the ‘tax year basis’ i.e. from 6th April to the following 5th April each year. This is one of the biggest changes ever introduced to income tax!
Tim Palmer will go through the changes in detail, that affect every sole trader and partnership client.
Topics to be covered will include:
A thorough overview of the new rules will be given, together with illustrations of the tax planning opportunities available for sole traders and partnerships alike. Case studies will be used to illustrate the key points and the course content will be supported by comprehensive course documentation.
This webinar was recorded on 14 September 2023.
Tim is a well known Tax presenter, and lectures frequently all over the UK on a wide variety of taxation subjects. He has been presenting such tax lectures for over 30 years now. Previously, Tim was a senior Tax Manager with Howarth Clark Whitehill LLP, advising on all areas of tax and NIC for the firm to their clients. He was also a member of the tax department of P&O where he specialised in Corporation Tax and the Construction Industry, being involved in the Bovis Construction Industry tax deduction scheme within the P&O Group.
Additionally, Tim has recently written numerous articles in the tax press particularly with regard to his specialist areas of CIS, ‘self-employed status issues’, NIC and PAYE matters, stamp duty land tax, and the tax benefits of businesses switching to electric vehicles.
Tim lectures on most areas of tax, including IR35 and CIS, which are his particular specialties, both in lecturing and in practice. He also specializes on R&D and provides advice on tax investigations.
Tim is currently the Senior Partner of Palmer Consultancy Partnership. He is also a tax consultant with the London firm of chartered accountants, Arram Berlyn Gardner (ABG).
2 CPD units
1 hour of learning = 1 unit of CPD.
ACCA members can use this learning to meet their CPD requirements provided it is relevant to their career. If the event contributes to general knowledge and skills, it should be recorded as non-verifiable CPD. If the learning can be applied in the workplace, it will contribute to verifiable CPD.
Fee: 60 GBP + VAT (72 GBP) per delegate
Please note: Once you have purchased this webinar, it will be available for you to view for 12 months.
This event is organised by ACCA UK Continuous Learning Team.
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