In this episode, we’ll explore the changes Labour could make to personal and business taxation, including CGT, IHT and pensions taxation which have been well discussed in the run up to the Budget. We will also cover NIC on pension contributions, a slightly more surprising prediction.

Chairing this episode is Paul Barham, Head of International Private Client and an experienced Tax Partner who advises high-net-worth individuals, their families, and their businesses on international tax affairs.

Joining Paul is:

• Zoe Davies, Personal Tax Partner with over 20 years of experience advising on personal and business tax planning, compliance, and strategic matters.
• James Robinson, Senior Financial Planner specialising in advising high-net-worth individuals and business owners on their financial planning needs.
• Ian Goodwin, Employment Tax Partner and expert adviser on reward strategies and managing HMRC risks.

For more information on our tax services visit our website.

The information contained in this podcast does not constitute individual advice. Forvis Mazars LLP will not accept any responsibility for decisions taken or not taken on the basis of the information presented. Always obtain independent, professional advice relevant to your own circumstances.

Any reference to legislation and tax is based on Forvis Mazars LLP's understanding of United Kingdom law and HM Revenue & Customs practice at the date of production. These may be subject to change in the future. Tax rates and reliefs may be altered. The value of tax reliefs to the investor depends on their financial circumstances. No guarantees are given regarding the effectiveness of any arrangements entered into on the basis of these comments.

Forvis Mazars LLP is the UK firm of Forvis Mazars Group, an international advisory, and accountancy organisation, and is a limited liability partnership registered in England with registered number OC308299. A list of partners’ names is available for inspection at the firm’s registered office, 30 Old Bailey, London, EC4M 7AU.

In this week's episode we will:

• Break down the key elements of the new guidelines,
• explore the common risk indicators the HMRC are looking out for and
• delve into the best practice suggested by HMRC to ensure compliance and minimise risk.

Chairing the latest episode is Urmi Sen, Associate Director in Transfer Pricing.

Today, Urmi’s guests are:

• David Sayers, International Tax Partner who is an expert on transfer pricing and international tax, cross border corporate structuring, mergers and acquisitions.
• Jeremy Brown, Financial Services Transfer Pricing Partner who focuses on transfer pricing for financial services businesses such as insurance and banking.

For more information on our tax services visit our website.

The information contained in this podcast does not constitute individual advice. Forvis Mazars LLP will not accept any responsibility for decisions taken or not taken on the basis of the information presented. Always obtain independent, professional advice relevant to your own circumstances.

Any reference to legislation and tax is based on Forvis Mazars LLP's understanding of United Kingdom law and HM Revenue & Customs practice at the date of production. These may be subject to change in the future. Tax rates and reliefs may be altered. The value of tax reliefs to the investor depends on their financial circumstances. No guarantees are given regarding the effectiveness of any arrangements entered into on the basis of these comments.

Forvis Mazars LLP is the UK firm of Forvis Mazars Group, an international advisory, and accountancy organisation, and is a limited liability partnership registered in England with registered number OC308299. A list of partners’ names is available for inspection at the firm’s registered office, 30 Old Bailey, London, EC4M 7AU.

For more information on our tax services visit our website.

The information contained in this podcast does not constitute individual advice. Forvis Mazars LLP will not accept any responsibility for decisions taken or not taken on the basis of the information presented. Always obtain independent, professional advice relevant to your own circumstances.

Any reference to legislation and tax is based on Forvis Mazars LLP's understanding of United Kingdom law and HM Revenue & Customs practice at the date of production. These may be subject to change in the future. Tax rates and reliefs may be altered. The value of tax reliefs to the investor depends on their financial circumstances. No guarantees are given regarding the effectiveness of any arrangements entered into on the basis of these comments.

Forvis Mazars LLP is the UK firm of Forvis Mazars Group, an international advisory, and accountancy organisation, and is a limited liability partnership registered in England with registered number OC308299. A list of partners’ names is available for inspection at the firm’s registered office, 30 Old Bailey, London, EC4M 7AU.

For more information on our tax services visit our website.

The information contained in this podcast does not constitute individual advice. Forvis Mazars LLP will not accept any responsibility for decisions taken or not taken on the basis of the information presented. Always obtain independent, professional advice relevant to your own circumstances.

Any reference to legislation and tax is based on Forvis Mazars LLP's understanding of United Kingdom law and HM Revenue & Customs practice at the date of production. These may be subject to change in the future. Tax rates and reliefs may be altered. The value of tax reliefs to the investor depends on their financial circumstances. No guarantees are given regarding the effectiveness of any arrangements entered into on the basis of these comments.

Forvis Mazars LLP is the UK firm of Forvis Mazars Group, an international advisory, and accountancy organisation, and is a limited liability partnership registered in England with registered number OC308299. A list of partners’ names is available for inspection at the firm’s registered office, 30 Old Bailey, London, EC4M 7AU.

In this episode, we explore the impact of potential taxation changes expected in what Sir Keir Starmer has warned will be a ‘painful’ Autumn Budget could have on employee reward and mobility and compliance from an employer’s perspective.

Chairing the latest episode is Ian Goodwin, Employment Tax Partner, and an expert adviser on reward strategies and managing HMRC risks.

Joining Ian is:

• Michelle Askew, Director of Immigration who specialises in the sponsorship of migrant workers.
• Robin Bailey, Director of Global Mobility who advises companies on the compliance regulations associated with having globally mobile employees.

For more information on our tax services visit our website.

The information contained in this podcast does not constitute individual advice. Forvis Mazars LLP will not accept any responsibility for decisions taken or not taken on the basis of the information presented. Always obtain independent, professional advice relevant to your own circumstances.

Any reference to legislation and tax is based on Forvis Mazars LLP's understanding of United Kingdom law and HM Revenue & Customs practice at the date of production. These may be subject to change in the future. Tax rates and reliefs may be altered. The value of tax reliefs to the investor depends on their financial circumstances. No guarantees are given regarding the effectiveness of any arrangements entered into on the basis of these comments.

Forvis Mazars LLP is the UK firm of Forvis Mazars Group, an international advisory, and accountancy organisation, and is a limited liability partnership registered in England with registered number OC308299. A list of partners’ names is available for inspection at the firm’s registered office, 30 Old Bailey, London, EC4M 7AU.

Following Rachel Reeve’s announcement this week that the Government would have to raise taxes to claw back some of the £22bn debt in public spending, we will look at potential changes to IHT, CGT and pensions as well as the confirmed changes to VAT on school fees the non-domicile regime.

Chairing the latest episode is Sean Cockburn, a Private Client Tax Director who specialises in international private client tax.

Joining Sean is

• Paul Barham, Head of International Private Client and an experienced tax partner who advises high-net-worth individuals, their families, and their businesses on international tax affairs;
• Rebecca Park, Private Client Tax Associate Director who specialises in providing tax advice to entrepreneurs, HNWs and owner-managed businesses,
• James Robinson, Senior Financial Planner specialising in advising high-net-worth individuals and business owners on their financial planning needs,
• Jamie Hyne, Indirect Tax Assistant Manager specialising in VAT compliance, technology and Making Tax Digital (MTD).

For more information on our tax services visit our website.

The information contained in this podcast does not constitute individual advice. Forvis Mazars LLP will not accept any responsibility for decisions taken or not taken on the basis of the information presented. Always obtain independent, professional advice relevant to your own circumstances.

Any reference to legislation and tax is based on Forvis Mazars LLP's understanding of United Kingdom law and HM Revenue & Customs practice at the date of production. These may be subject to change in the future. Tax rates and reliefs may be altered. The value of tax reliefs to the investor depends on their financial circumstances. No guarantees are given regarding the effectiveness of any arrangements entered into on the basis of these comments.

Forvis Mazars LLP is the UK firm of Forvis Mazars Group, an international advisory, and accountancy organisation, and is a limited liability partnership registered in England with registered number OC308299. A list of partners’ names is available for inspection at the firm’s registered office, 30 Old Bailey, London, EC4M 7AU.

For more information on our tax services visit our website.

The information contained in this podcast does not constitute individual advice. Forvis Mazars LLP will not accept any responsibility for decisions taken or not taken on the basis of the information presented. Always obtain independent, professional advice relevant to your own circumstances.

Any reference to legislation and tax is based on Forvis Mazars LLP's understanding of United Kingdom law and HM Revenue & Customs practice at the date of production. These may be subject to change in the future. Tax rates and reliefs may be altered. The value of tax reliefs to the investor depends on their financial circumstances. No guarantees are given regarding the effectiveness of any arrangements entered into on the basis of these comments.

Forvis Mazars LLP is the UK firm of Forvis Mazars Group, an international advisory, and accountancy organisation, and is a limited liability partnership registered in England with registered number OC308299. A list of partners’ names is available for inspection at the firm’s registered office, 30 Old Bailey, London, EC4M 7AU.

In this episode, we will look at how markets have reacted following Labour’s record-breaking victory in the polls and any planning you can do to prepare for proposed policy changes.

Chairing this episode is Forvis Mazars' Chief Economist, George Lagarias, who has 17 years of experience in financial markets as an analyst, investment strategist, economist, and fund manager. 

Joining George is:

• James Robinson, Senior Financial Planner specialising in advising high-net-worth individuals and business owners on their financial planning needs.

For more information on our tax services visit our website.

The information contained in this podcast does not constitute individual advice. Forvis Mazars LLP will not accept any responsibility for decisions taken or not taken on the basis of the information presented. Always obtain independent, professional advice relevant to your own circumstances.

Any reference to legislation and tax is based on Forvis Mazars LLP's understanding of United Kingdom law and HM Revenue & Customs practice at the date of production. These may be subject to change in the future. Tax rates and reliefs may be altered. The value of tax reliefs to the investor depends on their financial circumstances. No guarantees are given regarding the effectiveness of any arrangements entered into on the basis of these comments.

Forvis Mazars LLP is the UK firm of Forvis Mazars Group, an international advisory, and accountancy organisation, and is a limited liability partnership registered in England with registered number OC308299. A list of partners’ names is available for inspection at the firm’s registered office, 30 Old Bailey, London, EC4M 7AU.

Welcome to the opening episode of our First 100 Days in Office podcast series, where we will delve into the elected party’s policies and how these could impact sectors, businesses, and individuals.

In this episode, ahead of the country going to the polls, we will compare each party’s manifesto, looking in particular at their views on the economy, income taxes and personal allowance, CGT, pensions, closing tax loopholes for non-dom and corporate taxation.

Chairing this episode is Paul Barham, Head of International Private Client and an experienced tax partner who advises high-net-worth individuals, their families, and their businesses on international tax affairs.

Joining Paul is:

• Ben Seager Scott - Chief Investment Officer, who recently joined Forvis Mazars and brings with him 17 years of experience in active and passive investment strategies;
• James Robinson, Senior Financial Planner specialising in advising high-net-worth individuals and business owners on their financial planning needs;
• And, Lucy Marshall, Corporate Tax Director who works with business owners to ensure that their tax position is optimised in line with their wider goals.

For more information on our tax services visit our website.

The information contained in this podcast does not constitute individual advice. Forvis Mazars LLP will not accept any responsibility for decisions taken or not taken on the basis of the information presented. Always obtain independent, professional advice relevant to your own circumstances.

Any reference to legislation and tax is based on Forvis Mazars LLP's understanding of United Kingdom law and HM Revenue & Customs practice at the date of production. These may be subject to change in the future. Tax rates and reliefs may be altered. The value of tax reliefs to the investor depends on their financial circumstances. No guarantees are given regarding the effectiveness of any arrangements entered into on the basis of these comments.

Forvis Mazars LLP is the UK firm of Forvis Mazars Group, an international advisory, and accountancy organisation, and is a limited liability partnership registered in England with registered number OC308299. A list of partners’ names is available for inspection at the firm’s registered office, 30 Old Bailey, London, EC4M 7AU.

Setting the scene - what’s on the menu for tonight’s virtual dinner party? [1m28]

Lucy’s virtual dinner party guests are: 

• Claire Cowen, International Tax Director with over 20 years of experience of advising businesses on international tax matters.
• David Sayers, Partner who leads our transfer pricing and international tax services globally.
• Sandy Cochrane, Indirect tax leader for our Large, Listed and International businesses team.

Starter: Base Erosion and Profit Shifting (BEPs) [2m57]

Claire explains the background to BEPs and the actions that have been implemented at various stages.

She explores the 15 actions already addressed by BEPs and how they’ve come a long way to eliminate harmful tax practices to create a more global tax system. She explains how these have resulted in more administration and disclosure in some cases, and a different tax result in others.She goes on to discuss how many of the measures affect businesses of all sizes, because a lot of companies now have a global footprint and she welcomes the international community’s moves towards sustainable tax practices with meaningful governance, but there is still more to do.

Claire considers the key actions for businesses, including whether existing group structures are fit for purpose and whether tax structures reflect the substance of the business in terms of where risks and rewards lie.

Main course: Pillar 1 and 2 issues [9m33]

David discusses the developments on the remaining outstanding action from the BEPs initiative  which are notably called Pillar 1 and Pillar 2 issues and how to deal with the digital economy in consumer facing businesses.

He traces the challenges the digital economy has faced since the original OECD proposals in 2013 and how those have evolved through a combination of early resistance and ultimately political will facilitating what may well be an agreement amongst the international community.

David explains however that there is still a long way to go in terms of ironing out the detail of the issues concerned and identifying exactly which businesses are going to be affected prior to possible implementation in 2023. Apparently, over 130 countries have agreed this in principle, but what exactly have they committed to? 

Dessert - Indirect tax considerations in respect of digital services and what this means for international businesses or those businesses looking to expand  [23m04]

Sandy highlights the complexity from an indirect tax perspective of operating internationally where remote sales of goods and services can create sales taxes, tariffs and administration in the territory or even each State (in the case of the US) that a customer is based in.

Final thoughts – Key actions for businesses [29m19]

Lucy concludes the virtual dinner party with some of the key actions for businesses including:

• If you have responsibility for the group’s tax affairs, and if you haven’t already, you will need to review the BEPS actions and consider how these impact your group now and in the future. You’ll also need to understand how the BEPS measures are enshrined in the relevant local country statute, as this will be different from country to country;
• If you are responsible for a subsidiary you will need to engage with your parent company or group headquarters to obtain the information you need to ensure compliance with local tax legislation.This is because you will need group information, like the group’s worldwide net interest expense, as just one example; 
• you’ll need to keep abreast of the tax systems in which you operate as these change to keep pace with a modern economy. As we heard from David and Sandy, we’re expecting more changes on digital sales taxes and the introduction of a global minimum tax.

Website: https://www.mazars.co.uk/Home/Insights/Podcasts/Let-s-Talk-Tax-UK-Podcasts

Email: [email protected]

Twitter: @Mazars_UK

Facebook: Mazars UK

LinkedIn: Mazars UK

For more information on our tax services visit our website.

The information contained in this podcast does not constitute individual advice. Forvis Mazars LLP will not accept any responsibility for decisions taken or not taken on the basis of the information presented. Always obtain independent, professional advice relevant to your own circumstances.

Any reference to legislation and tax is based on Forvis Mazars LLP's understanding of United Kingdom law and HM Revenue & Customs practice at the date of production. These may be subject to change in the future. Tax rates and reliefs may be altered. The value of tax reliefs to the investor depends on their financial circumstances. No guarantees are given regarding the effectiveness of any arrangements entered into on the basis of these comments.

Forvis Mazars LLP is the UK firm of Forvis Mazars Group, an international advisory, and accountancy organisation, and is a limited liability partnership registered in England with registered number OC308299. A list of partners’ names is available for inspection at the firm’s registered office, 30 Old Bailey, London, EC4M 7AU.

Lucy and her guests discuss the changing requirements of businesses and their staff in the wake of the pandemic - what are the resulting tax opportunities and traps that businesses need to be aware of? What are the key considerations to be made as workforces are returning?

Setting the scene - what’s on the menu for tonight’s virtual dinner party? (2m25)

Lucy’s virtual dinner party guests are: 

Glen Huxter, Senior Employment Tax Specialist with over 30 years of experience advising employers on workforce matters.

Clive Fathers, Partner who leads our specialist tax services and whose own expertise is in reward, social security and internationally mobile employees.

Aude Delechat-Patel, Head of Corporate Tax Disputes and a leading tax adviser to businesses on corporate tax governance.

Starter: Who, when and how do employers bring back their workforce? (3m32)

Glen focuses on employees returning to work from furlough over the next six months and the considerations employers face in determining who, when and how they return? What is the impact of the new off-payroll working legislation?

The impact of the pandemic on diversity within the workforce (5m49)

Clive considers the impact on diversity within the workforce and in particular, gender diversity. 

Main course: Reward and incentivisation of the workforce now and in the future (15m28)

Clive looks at reward and considers how reward packages might evolve in the post-COVID world. What kind of benefits are employees increasingly looking for? What should a reward package look, sound and feel like and what are the components? How do companies with large workforces structure their reward packages?

Clive compares the different kinds of benefits for employees to how food menus have evolved over the years. From old fashioned meaty benefits such as company cars and season ticket loans as well as different types of wellbeing benefits including – physical, ethical and mental wellbeing.

Physical wellbeing (16m32)

Clive focuses on the different physical and wellbeing related benefits including gym memberships and cycling to work. Are we going to see more people taking the opportunity to do physical activities, such as going to the gym or cycling to work, if they’re not commuting in their car or on public transport? Are these benefits going to become more attractive?

Ethical wellbeing (17m11)

Clive considers how employers should challenge themselves on what they do, what they invest in and the impact that has on employees. He also discusses how benefits ought to reflect the ethics and values of the business. 

Traditional “meaty” benefits (18m04)

Clive discusses how there is still room for the more traditional benefits such as season ticket loans and company cars, but how can employees start to look at these differently and challenge the way they think about these benefits?

Mental health and wellbeing (22m38)

Discussing how the pandemic has impacted people’s health, mental health and wellbeing. What are the developments in raising awareness of mental well-being during the pandemic?

International mobile employees (25m03)

Clive discusses what the working from home risks are, how can companies track business visitors? and social security. What are the direct and indirect tax consequences of having people in different locations?

Dessert - How are businesses ensuring they have proper tax governance in place? (27m36)

Aude discusses tax governance and why businesses should be spending time on this important topic now. How has the pandemic impacted tax governance and particularly in the context of the workforce? What does good governance look like?

Final thoughts - How will the pandemic change working practices? (36m53)

Lucy concludes the virtual dinner party with final thoughts on how the pandemic will change working practices for all sectors in the long term. 

Contact Details

Website

Email: [email protected]

Twitter: Mazars_UK

Facebook: Mazars UK

LinkedIn: Mazars UK

For more information on our tax services visit our website.

The information contained in this podcast does not constitute individual advice. Forvis Mazars LLP will not accept any responsibility for decisions taken or not taken on the basis of the information presented. Always obtain independent, professional advice relevant to your own circumstances.

Any reference to legislation and tax is based on Forvis Mazars LLP's understanding of United Kingdom law and HM Revenue & Customs practice at the date of production. These may be subject to change in the future. Tax rates and reliefs may be altered. The value of tax reliefs to the investor depends on their financial circumstances. No guarantees are given regarding the effectiveness of any arrangements entered into on the basis of these comments.

Forvis Mazars LLP is the UK firm of Forvis Mazars Group, an international advisory, and accountancy organisation, and is a limited liability partnership registered in England with registered number OC308299. A list of partners’ names is available for inspection at the firm’s registered office, 30 Old Bailey, London, EC4M 7AU.