The Irish Accounting & Tax Summit
Detailed Session Information
The Irish Accounting & Tax Summit features 2 x 1-Hour CPD sessions delivered every Tuesday and Thursday for four weeks (including tax CPD and audit CPD topics).
Registration is simple. Select your package, and if you select a package other than VIP Access All Areas, you will then be asked to choose the sessions you wish to attend.
Your Virtual CPD Event Partners
Tuesday 16 June 2020
SESSION 1 – Technical Track
Time: 11:00 – 12:00 | Date: 16 June 2020
Financial Reporting Under COVID-19 –
Post Balance Sheet Events & Consideration of Impairment
Speakers: Mike O’Halloran & Colm Owens – OmniPro
Covid-19 has presented many challenges to accountants in the area of financial reporting. This session will address two of the key areas impacted by accountants- post balance sheet events and impairment.
- Adjusting vs. non-adjusting post balance sheet events
- What areas should be considered when assessing the post balance sheet events.
- Examples & disclosures covering post balance sheet events
- Impairment of assets under FRS 102
- Consideration of fair value
- Value in use calculations
- How to consider fair value when there is no active market.
SESSION 2 – Tax Track
Time: 12:20 – 13:20 | Date: 16 June 2020
Entrepreneur Relief – Tips and Traps Including
Anti-Avoidance (S. 135(3A) TCA 97)
Speaker: Amanda-Jayne Comyn – Doyle Keaney Tax Advisors
A review of the main shareholder reliefs on selling shares in a company including a review of live examples with practical considerations. The session will also include a practical review of the anti-avoidance provision on funding an exit under section 135(3A) TCA 1997.
- Overview of Relevant Tax Reliefs
- Review of relevant reliefs on an exit from a business
- Review of relevant conditions for relief
- Case Studies
- Four case studies looking at various issues arising on meeting relief conditions
- Tax trips and tips to qualify for relief
- Anti-avoidance on funding an exit
- Overview of Section 135 TCA
- Examples of transactions when Section 135(3A) may have application
Thursday 18 June 2020
SESSION 3 – Technical Track
Time: 11:00 – 12:00 | Date: 18 June 2020
Audit Exempt Engagements in a COVID-19 World
Speakers: Mike O’Halloran & Colm Owens – OmniPro
Covid-19 has presented many challenges to accountants and has impacted their work in relation to audit-exempt engagements. This session will revisit some of the main considerations in relation to audit-exempt engagements and will focus on Covid-19 issues impacting audit-exempt engagements.
Attendees will obtain an understanding of the issues arising and how Covid-19 has impacted their work. This will help them to ensure that their firms remain compliant with carrying out audit-exempt engagements.
- Audit-exempt criteria & who can claim audit-exemption;
- Audit-exempt files – the requirements;
- Audit-exempt financial statements;
- Covid-19 considerations for audit-exempt engagements;
- Monitoring visits – common issues
SESSION 4 – Tax Track
Time: 12:20 – 13:20 | Date: 18 June 2020
Employee Share Ownership Pools (“ESOPs”) –
Tax & Commercial Considerations
Laura Lynch – Laura Lynch & Associates
Companies starting out with limited cash resources and keen to attract, motivate and retain key hires are increasingly offering remuneration in the form of shares in the company. With company valuations and cash reserves potentially at a low point, and more new businesses setting up post-COVID, the opportunity to tax efficiently pay employees with equity is of interest to employers.
This session will deal with the key tax, legal and practical issues associated with giving employees shares or share options in an employer company. We will cover the tax payment and reporting obligations of the employer company, along with key issues associated with valuing shares and options, which will be of particular concern for the accountant. The conditions of the KEEP share option scheme for SMEs was updated again in the most recent Finance Act, as an attempt to increase take up of the scheme. We will outline the new provisions and impact for SME clients.
The following topics will be covered
- This presentation sets out the key tax, legal, accounting and commercial considerations associated with giving employees remuneration in the form or shares or share options in the employer company
- We will cover various forms of share-related benefits and the tax treatment and reporting obligations for both the employer and employee
- We will set out reasons why one type of scheme would be chosen over the other
- We will outline the updated conditions of KEEP – the Key Employee Engagement Programme, which is a tax efficient share option scheme for SMEs
- We will discuss key issues to bear in mind when valuing shares issued to employees
Tuesday 23 June 2020
SESSION 5 – Technical Track
Time: 11:00 – 12:00 | Date: 23 June 2020
The COVID-19 Insurance Implications
Speaker: Martin Adams – Arachas
Accountants Professional indemnity Pre and Post Covid-19
- What is the current state of the PI Market pre and post lockdown
- Will there be Professional Indemnity claims following Covid-19
- Risk management Measures and steps to take in handling a professional indemnity claim
Other things to consider:
- Cyber security following remote working
- Cyber security claims against Accountants
- Return to work protocol
- Employers liability and responsibilities
SESSION 6 – Tax Track
Time: 12:20 – 13:20 | Date: 23 June 2020
Tax Planning in a Downturn
Speaker: Padraig Daly – Mazars
A topical reminder of some of the key tax opportunities available for you and your clients in an economic downturn. This session covers asset protection, maximisation of reduction in asset values, succession planning, how changing the FY end can avoid tax and much more.
- Tax savings from changing a company’s year end
- Profits falling out of assessment when changing a sole trade or partnership year end
- Maximising use of losses
- Cashflow management including Revenue procedures on tax deferrals
- Exiting the wage subsidy scheme
- Asset protection
- Succession plannings
Thursday 25 June 2020
SESSION 7 – Technical Track
Time: 11:00 – 12:00 | Date: 25 June 2020
Anti-Money Laundering for Accountants in 2020
Speakers: Mike O’Halloran & Colm Owens – OmniPro
This session will focus on a review of the impact of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2018, incorporating:
- The benefits of appointing an MLRO
- The importance of the Business Risk Assessment to be completed annually by all firms
- The components of good Customer Due Diligence
- Politically exposed persons and enhanced procedures
- Internal and external reporting requirements
- The concept of privilege reporting exemptions
- Update on topical issues such as Covid-19 and AML directives to be implemented
SESSION 8 – Tax Track
Time: 12:20 – 13:20 | Date: 25 June 2020
Top Tax Appeals in 2020
Speakers: John Murphy & Yvonne O’Sullivan – OmniPro Tax & Legal
This webinar will review some of the most topical tax appeal cases for SME accountants published in the last 6 to 12 months.
Topics covered will include:
- Review of the professional close company surcharge
- The impact of this determination on the accountancy profession
Tuesday 30 June 2020
SESSION 9 – Technical Track
Time: 11:00 – 12:00 | Date: 30 June 2020
Your Biggest GDPR Risks – IT or People?
(And the Practical Steps to Solve Them)
Speakers: Richard Jackson – Pulse Cyber Security & Des O’Neill, OmniPro
“The solution to cybercrime in Accountancy does not rely on computer science, it will be solved by applying human science. People, your employees, are the key – and through education, awareness and knowledge you can dramatically reduce your cyber security risk.”
- Human Science & Cyber Crime
- The Human Firewall
- Social Engineering Triggers
- Trust is Vulnerability
- Heuristic vs Critical Thinking
- How your Employees can keep your practice Secure
SESSION 10 – Tax Track
Time: 12:20 – 13:20 | Date: 30 June 2020
Brexit Complexities:
Taxation of Foreign Short-Term Employees in Ireland
Speaker: James Bradley
Accountants need to attend this session due to the extreme tax complexity of the PAYE system in Ireland when dealing with Non-Resident temporary foreign employees. This situation will become far more common place now as Brexit will be finalised and agreed upon.
Topics covered will include:
- PAYE Exclusion orders
- Irish / UK Double Tax Agreement as it related o foreign employments
- Tax implications of Foreign Employees being present in Ireland for 60 days or less per annum.
- Tax implications of Foreign Employees being present in Ireland for more than 60 but less than 183 days per annum
Thursday 2 July 2020
SESSION 11 – Technical Track
Time: 11:00 – 12:00 | Date: 2 July 2020
Members’ Voluntary Liquidations
Speakers: John Murphy & Yvonne O’Sullivan – OmniPro Tax & Legal
This session will review the process of placing the company into liquidation as required by Company law. Given the current crisis, some shareholders may see this as the right time to cease operations and extract the value given the extra effort required to bring the business back to pre-Covid times – an MVL may be an option.
The session will also emphasise the importance of timing for entrepreneurial and retirement relief. It will include a step action plan to place the company into liquidation and a high-level checklist. Tidying it up in advance of liquidation.
- VAT and when possible to register, distributing property/investments in specie (and the implications on certain reliefs) and the paperwork involved. The need for the liquidator to be vigilant on all issues.
- The importance of AML and holding meetings to agree payment of fees and the arrangement for holding the books and records.
- The returns required to be filed by the liquidator.
SESSION 12 – Tax Track
Time: 12:20 – 13:20 | Date: 2 July 2020
Key VAT Issues Including COVID-19 Measures
Speaker: Gabrielle Dillon – Twomey Moran
During this interactive virtual CPD session Gabrielle will review key topical VAT issues providing attendees with an understanding of the client issues they need to identify and be vigilant for.
Topics covered will include:
- Covid-19 Measures (Emergency accommodation, Zero-rating, Debt warehousing)
- Property (Surrenders of leases (new and legacy) and Options to Tax – issues)
- EU Update (Quick Fixes and E-commerce changes)
- VAT groups (Tax & Duty Manual update)
Tuesday 7 July 2020
SESSION 13 – Technical Track
Time: 11:00 – 12:00 | Date: 7 July 2020
KnowledgeHUB – Most Common Technical Queries of 2020
Speakers: KnowledgeHUB Team & Des O’Neill, OmniPro
In this session, key members of the KnowledgeHUB Technical Team – John Murphy, Colm Owens & Mike O’Halloran – will answer some of the most problematic and pressing queries facing Irish accountants that have crossed the KnowledgeHUB technical help desk over recent months.
- A case study on winding down a company/companies in a group that is ceasing/has ceased trading and has inter-company trade balances – the Company law, tax and financial reporting implications/options to be considered to get to the best outcome
- Defective financial statements – correcting financial statement on the register – The new requirements of the CRO
- The impact of restatement of prior year accounts for the change in accounting policy where previously under FRS 102 – the undue cost and effort approach was taken to an investment property – what is to be considered from a tax perspective
- The importance of documentation for Companies with insolvency issues so that the directors protect themselves;
- What is a flowering/growth share and how may it incentivise key employees?
- CBI regulated companies – financial reporting, audit & auditor reporting requirements
- Directors loans – disclosure and report requirements
- I have recently taken on a new audit client. I wrote to the previous auditor for professional clearance several times but they have not replied. Can I accept appointment?
- I have a company who bought shares at say €100,000. These are valued at €30,000 at the year end and carried at same in the financial statements. Should I recognise a deferred tax asset?
- If I am auditing a set of financial statements where the prior year is unaudited are there any additional paragraphs to include in my audit report?
- I have a client who holds an asset which cannot be easily valued (sporting venue). COVID-19 has presented an impairment indicator and I am trying to carry out an impairment review. How can I assess “fair value” in
this instance?
SESSION 14 – Tax Track
Time: 12:20 – 13:20 | Date: 7 July 2020
Updates on Welfare Pension Changes
Speaker: Brendan Casey
In these rapidly changing times your clients need your expertise and guidance to future-plan their qualification to the Welfare State Pension. This session will provide clarity on maintaining and/or enhancing the client’s title to the State Pension Contributory.
Topics covered will include:
- Requesting a copy of client’s Social Welfare records
- Identifying and correcting errors on the client’s Welfare records
- Options on filling previous gaps on the client record
- Explaining the use of foreign Social Security to qualify for an Irish pension
- Forecasting the client’s pension rate
- Advising on options to increase the client’s future pension rate
Thursday 9 July 2020
SESSION 15 – Technical Track
Time: 11:00 – 12:00 | Date: 9 July 2020
Charity Financial Reporting & Audits under COVID-19
Speakers: Colm Owens & Mike O’Halloran – OmniPro
Covid-19 has presented many challenges to accountants and auditors and has impacted significantly on their work in relation to charity audits. This session will revisit some of the main considerations in relation to financial reporting and audit for charities and will focus on Covid-19 issues impacting charities. Attendees will obtain an understanding of the issues arising and how Covid-19 has impacted their work.
Topics covered will include:
- Financial Reporting issues impacting charities;
- Audit issues impacting charities;
- Regulatory issues impacting charities;
- Covid-19 considerations for charity audits;
- Monitoring visits – common issues
SESSION 16 – Tax Track
Time: 12:20 – 13:20 | Date: 9 July 2020
Farm Tax Issues – Critical Areas For Deliberation
Speaker: Declan McEvoy – IFAC
The session will consist of a practical overview of farm tax issues and will be delivered by Declan McEvoy, head of tax in IFAC.
- Updates relevant to farming-land leasing/capital allowances/income averaging
- Vat on buildings as it affects the unregistered farmer not withstanding that he is not registered
- Farm structures and issues arising/to include popularity of companies and partnerships
- Capital tax issues affecting agricultural relief on dwelling houses/50% rule on solar
The Irish Accounting & Tax Summit - CPD Attendance Packages
Registering for The Irish Accounting & Tax Summit couldn’t be more straightforward. We have three packages for you to choose from.
Each event package comes with some exceptional features, and we are really excited about our Access-All-Areas Package which throws open the doors to the entire event and gives you an unbelievable return on your CPD Investment.
Economy
Access to any 4 of the Summit Sessions-
4 CPD Sessions (From 16 Available)
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Access to Online CPD for Missed Sessions
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Access Digital Note Packs (4 Sessions)
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4 Hours CPD
Professional
Access to any 8 of the Summit Sessions-
8 CPD Sessions (From 16 Available)
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Access to Online CPD for Missed Sessions
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Access Digital Note Packs (8 Sessions)
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Access Video Recordings (8 Sessions)
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8 Hours CPD
Access-All-Areas
Access to all of the Summit Sessions-
Access to All CPD Sessions
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Access to Online CPD for Missed Sessions
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Access All Digital Note Packs (16 Sessions)
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Access to All Recordings (Fully Searchable)
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Access to All Transcripts (Fully Searchable)
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16 Hours CPD
If you are an OmniPro CPD Club 2020 Member, please click here to register you place on the Irish Accounting & Tax Summit
It Is Not Just About You Though - Your Membership Will Help Others
We are proud to be part of the B1G1 Business For Good Programme. Contribution is a core value that we treasure. We believe that business has the power and responsibility to make a difference in the world. Now, through B1G1, together, we can work to create lasting change in the world.
On behalf of every member who registers for The Irish Accounting & Tax Summit, we will provide ongoing funding to female entrepreneurs in Zambia to help them lift their family out of the cycle of poverty through the provision of mentoring and support.
We don’t just talk about accountants changing the world. We make sure it happens. Your CPD will make a real difference to people who need it the most.