Deloitte FTSE250 Tax Club

The processes around interim reporting in 2020 may not look the same as previous years, introducing new challenges alongside those faced in previous accounting periods. In this session, we will discuss some common themes and shared experiences around the interim reporting purpose for tax, and will give some particular thought to how to deal with half year uncertainty when the full year position may look quite different. We will discuss reporting hot topics, including the ongoing application of IFRIC 23, impact of forecasts on deferred tax and the consultation around disclosing uncertain tax positions to HMRC, we look forward to hearing your own experiences on how your approach to reporting may have changed this year and how you have managed this.

There are a lot of materials that provide technical updates and briefings but without conversations with peers it can be difficult to weight the significance of those developments and evaluate how much time to focus on what they mean for your business. In this hour and a half session we will discuss a range of technical hot topics and discuss how you are practically responding to these.

We intend to cover the following items:

• Treasury tax management including FX exposure
• Management expenses following Centrica vs HMRC decision
• Practical application of DAC 6
• Employment tax issues including the risk of changes in global motility as a result of changing business practices
• Brexit and planning for a post-transition world

Business change brought on by economic disruption can have significant implications for any multinational organisation in terms of operations and financial performance and with that, transfer pricing models and will often prompt a reconsideration of what is arm’s length. This may be different to what was in place previously, and it may be a case that the historical transfer pricing models may no longer work. In this session we will discuss what arm’s length might look like under these circumstances and we invite you to share your transfer pricing experiences in times of economic disruption, the effects this has had on your intercompany arrangements, and the effect it might have going forward.

The UK intangibles regime continues to evolve and develop, alongside the global framework. In this session we will bring together international tax and transfer pricing specialists to discuss current trends and opportunities with respect to intangibles, including discussion on how the UK continues to be a favourable jurisdiction for the holding of IP. We would be keen to hear your thoughts on how your approach to intellectual property and other intangibles have developed in recent years. We will also spend some time discussing key risk areas in respect of ongoing IP management.

While businesses may have already had some degree of agile working prior to Covid-19, it is apparent that this extended period of remote working is having a significant impact on our teams and processes. In this session, we will share some thoughts on strategies and approaches for maintaining and developing a strong sense of team in a virtual world, how to replace those ‘water cooler’ moments with colleagues in finance and legal and also hear your thoughts on your own experiences of the new working world. We will also spend some time outlining some of our thoughts on what the future of work may look like, in the hope this should trigger some interesting discussion and debate.