Construction Industry Scheme & Succession planning for OMB’s

Succession planning for owner managed businesses
Ryan Conlon and Alan Kennedy, Trident Tax

  • This webinar looks at the key tax considerations in respect of succession planning for owner-managed businesses. It may be that the founder’s family are ready to “step up” and take the business forward. Alternatively, the next generation of the family may not have the interest or aptitude, or the owner-managed wants to reap the reward of their efforts and realise the value they have created. In either case, whether passing the business to a new generation of the family, or selling it to a third party, early tax planning is crucial.

 

Construction Industry Scheme part 2
Matt Harrison and Brittany Poole, BDO

  • Why CIS is important – The CIS helps ensure the correct and prompt payment of tax for work done by the subcontractors. Any failure to operate the CIS can result in large penalties and HMRC opening a wider investigation into a company.
    What we will cover - An introduction to the Construction Industry Scheme and key things to consider. Why is it relevant - There is a requirement to register for CIS if you are considered a mainstream contractor or a deemed contractor. Mainstream contractors are businesses that carry out construction work or supply labour for carrying out construction work. Deemed contractors are businesses that do not carry out construction work as part of their ordinary business but spend above certain thresholds on construction operations. Businesses commonly treat certain works incorrectly due to complex legislation and tax rules or don’t consider the CIS at all where their main business is not construction.

CPD hours: 2 (per recording)
Price: IFA members - £36
          Non-members - £43

To purchase recordings, please contact [email protected]

 

About the speakers

 

Alan Kennedy, Trident Tax
Alan Kennedy is the founder and MD of Trident Tax. Alan advises individuals, companies and trusts on tax residence and domicile issues, restructuring of businesses, inheritance tax aspects of succession planning and wealth preservation, as well as HMRC investigations under Code of Practice 8 and 9 and voluntary tax disclosures and all types of contentious tax disputes.

 

 

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Ryan Conlon, Trident Tax
Ryan Conlon is a chartered tax adviser and trust and estate practitioner. As a private client specialist, he advises wealthy individuals, families and trustees on inheritance tax, capital gains tax, trust taxation, residence and domicile, and business exit and succession planning.

 

 

Brittany Poole, BDO

Brittany is an Employment Tax specialist, specialising in employee benefits and expenses including salary sacrifice arrangements, Termination payments, IR35/off payroll labour and the Construction Industry Scheme.

Matt Harrison, BDO

Matt has worked in tax for a variety of firms ranging from small practice to the big 4 for over 20 years. His current role is that of Employment Taxes manager at BDO in Birmingham and nationally heads up the firms CJRS offering.