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What you learn on...

the tax-related CIMA Mastercourses

The institute's comprehensive array 1 of tax Mastercourses range from the highly specialist to updates aimed at professionals working in business or practice who want to refresh their knowledge. Here is a summary of some of the most popular ones on offer

'Corporation tax refresher and update', with Susan Cattell, tax programme manager, BPP

Many people who take this course qualified as accountants years ago and now need to bring their knowledge up to date, often because their responsibilities have changed. Others attend simply to keep abreast of developments.

The course starts by going back to basics with a look at the standard corporation tax computation. It then considers the capital allowances regime (which has changed considerably over the past few years), the reductions in the tax rate and other recent changes. It also covers self-assessment, trading profits, loan relationships, loss relief, intangible fixed assets, group relief and group chargeable gains.

'VAT refresher and update' and International VAT -goods and services', with Geoff Sykes, deputy tax programme manager, BPP

As the main rate of UK corporation tax falls, the government is looking to recoup the tax take by boosting its VAT receipts, so it's essential for businesses to keep a firm grip on VAT matters. With the rate at 20 per cent, making a VAT-related mistake is more expensive than ever, particularly for exempt or partially exempt businesses.

The refresher course gives an overview of the fundamentals of the tax, as well as an update on all the main recent legislative changes. It also includes an analysis of recent cases on the deductibility of input tax; an explanation of the VAT aspects of employee expenses and benefits; and advice on how to minimise your exposure to penalties for errors.

The international course is also highly relevant because the rules in this area have changed significantly over the past few years. Recent delegates have said that businesses are paying too much VAT on cross-border transactions because they don't employ anyone who understands the basics of international VAT. This issue is becoming increasingly costly, because almost all European governments have been putting up their VAT rates. The programme will provide an update on recent changes; an overview of the structure of VAT under EU legislation; an explanation of how the tax affects international supplies of goods and services; a breakdown of the rules on various types of overseas services; and guidance on how to avoid costly errors.

'International tax', with Allan Cinnamon, former head of international tax at BDO

International tax matters will become particularly significant to accountants over the coming year as a result of the OECD's recent action plan on base erosion and profit shifting (Beps). BPP offers two courses on this subject: "International tax planning--introduction" and "International tax planning--advanced". The introductory course highlights common tax issues for British companies to watch out for when they are expanding overseas. It is illustrated with case studies and provides the building blocks for basic tax planning and structuring, including a consideration of Beps.

The advanced course is for those who are already familiar with the international aspects of UK tax but who wish to expand their knowledge of international tax-planning techniques for cross-border activities. The programme, which again considers the impact of Beps on international tax structures, is based on a case study of a firm that expands from its UK base in stages to become an international group with subsidiaries worldwide.

'Transfer pricing--fundamentals: the basic issues' and 'Transfer pricing--planning and control: containing the risks', with Martin Zetter, head of transfer pricing at Macfarlanes

Given the increased focus of HM Revenue & Customs and other tax authorities on tax avoidance, it is vital to understand how the legislation on transfer pricing is changing. The course on the fundamentals of transfer pricing is aimed at anyone needing to know about the mechanics of the process in large and medium-sized companies. It explains the basic issues and how to deal with them.

The course on planning and control is for those with some knowledge of transfer pricing who need to deepen their understanding of the associated operational risks and strategic opportunities. It explains the advanced issues and how to deal with them.

For further details about these and other CIMA Mastercourses on tax, visit
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Title Annotation:training for employees
Publication:Financial Management (UK)
Geographic Code:4EUUK
Date:Dec 1, 2013
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