Events, Courses & Seminars

1.30 pm FATCA/CRS 2017 reporting - What went well...what didn't go so well and why

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Location: Upper Hall, Loch Promenade Church, Douglas

Our DQ sponsored ACSP seminar on Monday 20th November 2017 is with Nicola Skillicorn, Deputy Assessor, Income Tax Division, Claire Mulhern, Senior Manager at SMP Partners and Monica Dixie, Senior Tax Consultant at Equiom Solutions Limited, on the topic:

FATCA/CRS 2017 reporting – What went well...what didn't go so well and why

2017 saw the first year of Common Reporting Standard (CRS) reporting for Isle of Man Financial Institutions and the third year for FATCA reporting.

This seminar will provide feedback on how those submissions went and then detail the common errors and mistakes that were seen by the Income Tax Division. These errors and misunderstandings about some of the basic features of FATCA and CRS will be discussed and analysed with reference to guidance and structure diagrams.

The presentation will focus on a 'back to basics' approach, looking at entity classifications, self-certifications, actual reporting of information, changes of circumstances and issues such as changes of Trustee during a reporting period.

Nicola Skillicorn, Deputy Assessor, Income Tax Division will provide the feedback from the Division based on the reporting and common queries received, along with a brief overview of forthcoming changes to the Isle of Man's Guidance Notes and expectations for the future.

Claire Mulhern, Senior Manager at SMP Partners and Monica Dixie, Senior Tax Consultant at Equiom Solutions Limited will provide the technical guidance on how these errors can be avoided for future years. They will draw heavily on their experience within the TCSP sector and their previous experiences at the Income Tax Division and as a tax specialist for one of the Big Four firms respectively.

In order that guidance and advice can be tailored to the audience, the ACSP would like to invite participants to submit questions by email to me at aking@acsp.co.im in advance - these questions will be made anonymous before being provided to the panel. Please can questions be submitted by Friday 10 November.

As we are anticipating this will be a very popular session we are offering two seminars at the Upper Hall, Loch Promenade Church, Douglas.

Session one will be with coffee and registration from 11.30 am for a prompt 12 noon start.

Session two will be with coffee and registration from 1.15 pm for a 1.30 pm start.
It is anticipated that this each session will last approximately one hour.
If you would like to attend one of these sessions, please send e-mail aking@acsp.co.im stating clearly which seminar (12 noon or 1.30 pm) you are booking for and who from your firm would like a place. All bookings will be confirmed with an e-mail from me. 
This seminar is free to staff of member firms and associate members of the ACSP.
This event is sponsored by DQ Advocates.