What is Continuing Professional Development (CPD)?
Enhancing expertise
Continuing Professional Development (CPD) is crucial for accountants. It involves tracking and enhancing skills, knowledge, and expertise beyond initial training. CPD includes both formal and informal learning activities. This proactive approach helps accountants stay current and improve their competencies throughout their careers. By engaging in CPD, professionals ensure they remain at the forefront of industry standards and best practices.
Key Aspects of CPD
Ongoing Learning:
- CPD is an ongoing process that ensures professionals continuously improve their skills and knowledge.
Structured and Informal Learning:
- CPD can include structured activities such as workshops and courses and informal activities like reading industry publications.
Documentation:
- Maintaining records of CPD activities is important for demonstrating compliance with industry standards and regulations.
Importance of CPD in Capital Allowance Training
Legislative Changes
One of the primary reasons CPD is essential in capital allowance training is the constant change in legislation. Tax laws and regulations regarding capital allowances are subject to frequent updates. Capital allowances enable businesses to gain tax relief on eligible capital expenditure by allowing the cost to be written off against taxable income. Keeping up-to-date with these changes ensures that advisors can provide accurate and compliant advice.
Risk Mitigation
Providing incorrect advice due to outdated knowledge can lead to significant legal and financial consequences for both professionals and their clients. Misinterpretation or ignorance of current legislation can result in penalties, fines, and loss of reputation. Through CPD, professionals can ensure they are aware of the latest legislative developments, reducing the risk of non-compliance and safeguarding against potential legal action.
Client Reassurance
Clients rely heavily on professionals for accurate and reliable advice. By engaging in CPD, professionals can offer reassurance to their clients that they are receiving informed advice that reflects the most current laws and best practices. This builds trust and confidence, which is crucial for maintaining strong client relationships.
Enhancing Professional Competence
CPD helps professionals remain competent and competitive. As industry standards evolve, CPD ensures that professionals are not only keeping up with changes but also enhancing their skills to meet future challenges. This continuous improvement benefits both the individual and the organisation they work for.
Our CPD Capital Allowance Training Sessions
CARS CPD Training
Our CPD training sessions are designed to enhance the knowledge of advisors, specifically those dealing with commercial property clients. We focus on helping accountants and tax advisers uncover hidden benefits in capital allowances. A skill that can significantly boost their effectiveness. Due to frequent legislative changes, our training stresses the importance of due diligence and understanding clients’ tax profiles to maximise benefits.
Our team includes tax experts, chartered surveyors, and accountants who help participants maximise tax benefits. This can lead to potential tax repayments and reduced future liabilities. The training covers practical topics like identifying issues, managing risks, and exploring client opportunities. Topics also included are legislation on commercial property transactions. As well as CPSE.1 Section 33, contractual requirements, building strong cases, and Section 198 elections. We provide personalised advice, offer online sessions, and equip participants with valuable skills to enhance their practice.
What people thought of our training sessions…
“Paul Roberts has presented for us several times on the topic of Capital Allowances on our UK CPD programme. He delivered a high standard of presentation each time, that was detailed, clear, and had great attendee interaction. I would highly recommend Paul and the team at Capital Allowance Review Service.”
Fiona Clark | Programme and Events Manager at CPD Store
“We found the presentation from Chris really informative. It was helpful for us to increase our understanding of capital allowances and how we can add value for our clients by referring them to CARS to review any potential claims. We are really looking forward to working alongside you with our clients.”
Laura Pyatt | Commercial Property Senior Associate at Beswicks Legal
If you would like to benefit from our CPD sessions, please get in touch...
Latest News
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5 December 2024What Are Qualifying Activities for Capital Allowances?
Capital allowances are a key tax relief available to businesses for qualifying activities. They allow businesses to deduct the cost of certain capital expenditures related to these activities from their taxable profits, reducing their overall tax burden. However, not all purchases or investments qualify.... -
3 December 2024How Do CARS Assess Capital Allowances?
At CARS, we assess capital allowances and offer businesses and property owners a significant opportunity to reduce their tax liabilities by deducting qualifying capital expenditures. Here at Capital Allowance Review Service (CARS), we provide a thorough process to optimise these claims. Our goal is to...
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Our expert team are here to help answer any of your capital allowances questions or enquires you have about your commercial property.