CPDStore Ireland

8th Oct, 10:00

Raising Finance - Tax Issues and Implications

Speaker: Michael O’Scathaill - Crowe

One of the key challenges facing business is raising finance, in particular at the start-up and expansion phases; without it, even the best business ideas will struggle to come to fruition. Tax plays a key role; there are tax implications to consider at all stages of the process, from raising to servicing to ultimately repaying the finance.

There are also a number of tax-based schemes that can be used to raise finance as well as some new reliefs introduced in the most recent Finance Act that may be of relevance. Clients will expect their accountants to assist and advise on these matters and it will be important for all practitioners, in particular those working in the areas of corporate finance and taxation but also more generally, to have an awareness and understanding of the role that tax can play in raising finance. This course will set out the key tax issues, including an overview of the main tax-based schemes, and practitioners should leave with a good understanding of the tax issues to be aware of when advising clients in this area.

In this session Michael O’Scathaill will cover the following topics;

• Debt v Equity – a tax analysis
• Obtaining tax relief on interest payments – including an overview of Section 247, TCA1997
• Withholding Tax obligations on dividend and interest payments to investors
• Tax-based finance schemes - EIIS, SCI and SURE
• The new tax relief for Qualifying Financing Companies – an overview
• The new Angel Investor CGT Relief – an overview

By attending this session, attendees will get an understanding of the key tax issues to be aware of when advising clients in the area of raising finance and will leave with an appreciation that the tax system can present opportunities as well as threats in this area. This will help inform them in conversations with clients who are seeking advice in this area, and they will have an awareness, at least in outline terms of the key points, pitfalls and opportunities that present themselves.

The session would be of most interest to general practitioners who may not specialise in this area but would nevertheless like an overview and understanding of the key issues to be aware of so that they can discuss them with clients. It may also appeal to those working in corporate finance who would like an understanding of the key tax-based schemes such as EIIS.

Course level: Intermediate

8th Oct, 12:10

Capital Allowances Claims for Property and Optimising R&D Tax Credits

Speaker: Philip O’Connor – CA Partners
                Eoin Brennan – SciMet R&D

Philip O’Connor:

This session will provide practical guidance on how to prepare and optimise capital allowances claims for capital projects such as developments and fitouts. This will be relevant to accountants in practice whose clients have carried out capital projects in recent years and also to relevant industry accountants.

Where applicable, capital allowances can provide a tax compliant way to minimise tax liability, yet these claims are often not made at all, or are not maximised.

Philip is a leading industry expert in capital allowances advisory and will present a step-by step process showing how to make these claims; common pitfalls; why claims are not maximised; the value of these claims; and how to minimise the tax risk. Case studies will be used to demonstrate these points.

Philip O’Connor will cover the following topics during this session:
• Overview of capital allowances for capital projects and property purchases and the level of tax relief potentially available • Relevant case law, legislation and Revenue guidance relating to claims • Step-by-step process for preparing such claims • Case study examples of capital allowances claims • Common pitfalls and how to prepare successful claims

Attendees will leave with a clear understanding of the potential value of tax relief potentially available through capital allowances claims, risk areas and how these claims should be prepared ensure tax compliance.

This session will be of particular interest to accountants and tax advisers, as well as business owners with planned capital projects or who have carried out projects in recent years.

Course Level: Foundation / Intermediate

Eoin Brennan:

The Research and Development (“R&D”) Tax Credit is a very valuable tax incentive, potentially reducing the cost of a company’s R&D by up to 30%. It can be received as a payable credit and is therefore an important source of funding for innovative companies. Companies may not be aware of the R&D Tax Credit and therefore accountants have an opportunity to strengthen their client relationships by bringing it to their clients’ attention and assisting them with the claim process.

The tax credit is available to companies of all sizes and in any industry sector provided the necessary conditions are met. These conditions include a Science Test (i.e. does the project meet the definition of R&D activities) and an Accounting Test (i.e. has only qualifying expenditure been included and has it been treated in accordance with the legislation). The combination of the Science Test and Accounting Test along with the close scrutiny of claims by Revenue means that a robust claim process needs to be put in place and that any claims selected for audit are properly supported. In this webinar we will look at claim preparation and supporting the claim through a Revenue Audit.

The last couple of Finance Acts have made some of the most significant changes to the tax credit since it was first introduced in 2004. The webinar will include an update on these new rules.

The following topics will be covered during this webinar:

• Background to the R&D Tax Credit (history, latest stats)
• Preparing a claim – Science Test (what projects qualify, what are the important qualifying criteria, what supporting documentation must be maintained)
• Preparing a claim – Accounting Test (what costs qualify, how is each cost heading treated, what specific rules apply to certain costs e.g. subcontractor notification requirements)
• Revenue Audits – (What are the types of audits and Revenue Interventions, What can be expected during an audit, Closing out an audit, Update on a recent tax case)
• Recent Updates – (What changes have been introduced in recent Finance Acts and when do these become operational)

By attending this session, you will be able to:

• Identify clients that may be entitled to an R&D Tax Credit
• Assist those clients in preparing a claim
• Advise clients that have received notification of a Revenue Intervention
• Be up to date with the most recent changes

This session will be of particular interest to tax advisors, business owners and accountants.

Course Level: Foundation

10th Oct, 10:00

Pitfalls of VAT on Property

Speaker: James Bradley – James Bradley & Co

This course will identify 8 areas where mistakes are made processing Vat on Property for clients.

In this session James Bradley will cover the following topics;

• When is a property redeveloped
• When is a property completed and occupied
• When is vat charged on undeveloped property
• Implications of Opting to Tax a sale or lease of a property
• Capital Goods Scheme interacting with the Transfer of Business Relief

Course level: Foundation / Intermediate

10th Oct, 12:10

Revenue Interventions - A Timely Revisit

Speaker: Jim Kelly – Grant Thornton

Taxpayers and practitioners need to be au fait with the direction of travel as regards Revenue compliance interventions. There has been a significant increase in the number of Level 2 interventions in recent months and a noticeable change in the nature and depth of those interventions.

Familiarity with the Revenue Code of Practice for Compliance Interventions is essential for any accountant or tax advisor particularly in light of the risk involved for both themselves and their clients. The level of preparation required has increased in light of the wide range data and audit techniques now available to Revenue auditors.

Jim Kelly will cover the following topics during this session:

• Review of current Revenue structure and activity including comment on recent developments in TAC
• Overview of the current Compliance Intervention Framework and possible changes
• Outline of options with regard to qualifying disclosures and how best to protect you and your client
• Overview of Revenue sanctions being interest, penalties and publication rules
• Finalising Revenue interventions and how best to regularise tax defaults

By attending this session, you will gain insights into the current Revenue Code and areas of current interest to Revenue. You will gain an understanding of the implications/risks etc for yourself and/or you client. The information will assist you to manage the risks associated with being selected for a Revenue intervention and will inform on best ways to prepare for an intervention/audit.

This webinar will look at current areas of activity and projects that Revenue are interested in as well as some recent TAC decisions affecting Revenue attitude in certain areas. It will also update on any recent changes to the Code.

Course Level: Advanced