Our one-day conference will look at the key financial, taxation and legal issues affecting both commercial and residential property. Designed for accountants and tax advisers who want to keep up to date with the latest developments in the industry, our conference will enable those attending to give the best possible advice to their clients.
During this session Simon will cover:
This session focuses on recent developments, planning opportunities and pitfalls to avoid with regard to residential property including:
This session considers the tax implications of holding commercial property directly or indirectly (e.g through a company or trust) and the capital tax reliefs available to mitigate tax liabilities on disposal or other chargeable events.
Specific topics to be included:
This session seeks to consider areas involving properties which are not the everyday issues affecting investment properties and properties in PPE. These will include micro-sized entities wanting to revalue; entities not realising that they are micro sized as well as sale & leaseback and sale & repurchase agreements.
With most IFRS users having implemented, or started to implement, IFRS 16; this session will explain the key challenges in applying the standard on an on-going basis and the lessons learned so far.
The Financial Reporting Council has included IFRS 16 on their Thematic Review agenda for 2020/21, so entities’ disclosures will be under a spotlight this year. The session will explore the shortcomings and recommendations from the FRC’s findings to date.
Although FRS 102 users are not yet affected by the new IFRS, they may be interested to join the session in preparation for when IFRS 16 is introduced into UK GAAP in the future.
VAT issues in the property sector are legion, and many surround the option to tax. Notwithstanding that it is now over 30 years old, this aspect of the tax continues to throw up problems and difficulties, not least because across the commercial world at large, there are many misapprehensions about how exactly it operates. Taking some of these misunderstandings as a starting point, Neil will explain how to identify the myths around the subject and how to correct them.
For those less familiar with the option to tax, this will be a useful exploration of the subject; for those more familiar, it may provide an insight into how poorly understood it is by businesses and even some professional advisers, enabling them better to identify erroneous thinking on the part of others. The session will end with some practical points on the sale and purchase of let commercial property, another frequently encountered topic.
Although the rate of SDLT has dropped temporarily it is still a significant cost for those buying property. There are key areas of interest currently which we will consider in this session including:
This session will cover the differences in accounting for properties and property related issues that exist between IFRS and UK GAAP. These include investment properties, properties in PPE, capitalisation of interest, grants, deferred tax and impairment reviews.
An experienced and dedicated real estate professional, Simon has 35 years’ experience working in the London and UK commercial property markets. His career spans multi-national firms such as Knight Frank and CBRE to founding his own practice in 1993. Simon’s client base includes leading developers such as Canary Wharf Group and Land Securities as well as National and Local Government departments. Simon is a leading industry
figure, being Chairman of the Royal Institution of Chartered Surveyors Commercial Markets Board as well as an author of several RICS Standards and Guidance Notes and public speaker.
Pat joined Mercia in 2008 as a tax consultant lecturer bringing a wealth of experience with her. She originally trained and worked in the profession for Ernst & Young, Grant Thornton and KPMG before moving to the University of Derby as their senior tax lecturer. Her time at Derby included undergraduate and professional tax training as well as being involved in examinations and publishing projects for ACCA and other professional bodies.
This led to a ten year period with the Financial Training Company now Kaplan where she was Tax Product Director for the Midlands as well as becoming well known as a prominent exam based tax lecturer. She was also involved during this time with significant publishing projects for the company and other professional bodies.
Over her career Pat has been actively involved in the tax professional bodies including serving as a Council member for 12 years for the Association of Taxation Technicians.
Phil qualified in his home town of Sheffield. He worked for Financial Training for a number of years and was their midlands regional director before joining Mercia in 2001. He lectures to the accounting profession and to those in industry and commerce on accounting, auditing, and related legal and regulatory topics as well as specialising in charity and property accounting together with international accounting standards.
In his spare time he now watches cricket and rugby as his playing days are behind him.
Going to the Inland Revenue from university, Ros worked in the Large Business Office local District offices, where she undertook a full range of technical and investigation work involving income tax, corporation tax and capital gains tax as well as gaining familiarity with all procedure aspects of the work done by the Department. Ros left the Inland Revenue in 2000 and worked for the PTP group as a consultant before setting up her own business in 2004. Ros covers tax planning for large and small businesses and individuals, HMRC enquiries and all areas of direct tax including Stamp Duty Land Tax.
Claire is an instructor and consultant specialising in IFRS, UK GAAP and finance training. Claire previously worked within Ernst & Young’s Financial Reporting Advisory team in London as a Senior Manager. In this role she provided technical advice in all aspects of UK GAAP and International Financial Reporting Standards (IFRS) to clients of E&Y, including working on IFRS conversions. Most recently Claire was a Director at EY London, providing training to EY’s client base, assisting them with their understanding of new IFRS pronouncements and the new UK GAAP framework. Claire also runs finance courses for non-financial managers and teaches the professional chartered accountancy examinations.