Course Summary

Duration8 hours

PresenterMultiple

Course Details

Session 1: Top Tax Tips and Landmines

  • Introduction
  • Fourteen Tips – Opportunities and Pitfalls
  • Q&A

Presenter: Julie Herlihy – Herlihy Tax Consultancy

Session 2: Close Company Issues Including Director’s Loans

  • Rationale for close company legislation
  • Tax treatment of interest/distributions
  • Implications of close company status
  • Directors loans

Presenter: Paul Murphy – Martin J Kelly & Co

Session 3: Taxation of Estates – Pre and Post Death Tax Tips

  • Inevitable area for all advisers
  • Special rules covering three periods:
    • Pre-death tax issues
    • Year of death tax issues
    • Post death administration of estate

Presenter: Daragh O’Shaughnessy

Session 4: Farm Tax

  • Review of the basics:
  • What is defined as farming?
  • Income averaging
  • Stock relief
  • Stock valuation
  • Farm losses
  • Capital allowances
  • Farm leases
  • VAT
  • Implications on transfer/sale of farm
  • Incorporation of farms – taxes to consider-implications?

Presenter: John Murphy – OmniPro

Session 5: VAT Update

  • Exemptions – Education/Training and Medical Services
  • Pension Funds – Input recovery for employers?
  • Share transactions – Input recovery on costs?
  • Transfer of Business – General rules & Property rules

Gabrielle Dillon – Dermot O’Brien & Associates

Session 6: Revenue Interventions

  • Recent Activities
  • How are Audits chosen?
  • Common Revenue Audit areas
  • Revenue default categories
  • Contents of qualifying prompted disclosure
  • Prompted qualifying disclosure
  • Pre-audit review
  • Revenue audit questionnaire
  • Issues to hold firm over
  • Claim for innocent error or technical adjustments
  • Issues during audit
  • Audit settlement
  • Deferred payment arrangement conditions
  • No publication
  • Aspect query
  • Penalty charges for unprompted disclosure
  • Error discoveries prior to audit notification
  • Self correction
  • Revenue and Agents

Presenter: Paul Murphy – Martin J Kelly & Co.

Session 7: R&D and Knowledge Development Box

  • R&D Tax credit
    • Qualifying Activities
    • Qualifying Expenditure
    • Qualifyign R&D Building
    • Exclusions
    • Maximum Amount Payable to Company
    • Maximum Amount Payable to Employees
    • R&D Administration
  • Knowledge Development Box (KDB)
    • Who can claim
    • Specified Trade
    • Qualifying Expenditure
    • Relief
    • Example
    • Compliance
    • Losses

Presenter: Michael Smith – FS Taxation

Session 8: Tax Issues on a Corporate Restructuring

  • Commercial Reasons
  • Tax Issues on a Restructuring
  • Intra-Group Transfer of Assets
  • Case Studies
  • Share Buyback – ‘Trade Benefit’ Test
  • Share for Share – Two Party Swap
  • Reliefs – Capital Gains Tax (CGT)
  • Proportionality Test
  • Clawback of relieve from CGT – S625 TCA 1997
  • Stamp Duty Relief
  • Clawback
  • Share for Share – Three Party Swap
  • CGT Relief for Shareholders – S587 TCA 1997
  • Revenue stance on s615 TCA 1997
  • Stamp Duty Relief on 3 Party Swap
  • Distributable Reserves
  • Participation Exemption

Presenter: Una Ryan – Grant Thornton