150,000 businesses owe HMRC £2.7 billion in deferred VAT payments

HM Revenue and Customs (HMRC) reported that 150,000 UK businesses have not yet made arrangements to pay back deferred VAT payments, and therefore owe the department £2.7 billion.  

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HMRC helpsheet to support residential property sellers with new CGT rules

New guidance will help homeowners understand the implications of capital gains tax (CGT) when selling UK residential property, it has been revealed.

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Taxman targets cryptoassets for Capital Gains Tax

As the old saying goes, in this world, nothing is certain except death and taxes.

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Pension savers hit hard by lifetime allowance taxation

Pension savers have been hit hard by tax charges, according to the latest Government figures.

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Nearly half a million taxpayers yet to renew tax credits, HMRC warns

Almost half a million tax credit customers have yet to renew their claims ahead of the 31 July deadline, it has been warned.

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OTS to consider “benefits and implications” of moving tax year end date

The Office for Tax Simplification (OTS) will explore whether there is a case for moving the UK’s tax year end date.

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Now is the time to prepare details of your taxable benefits

The last tax year has not long ended, but now is the time to think about how you report taxable benefits provided to your employees.

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Register for Making Tax Digital for VAT or risk penalties, HMRC warns

Businesses who are required to use Making Tax Digital (MTD) for VAT but not registered could face fines of up to £400, it has been warned.

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Work from home tax relief: what employees need to know

It was confirmed this April that employees can continue to claim tax relief on work from home costs not reimbursed by employers, but only if they make a new claim for the 2021/22 tax year.

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Do you have taxable benefits? Start preparing now!

The last tax year has not long ended, but now is the time to think about how you report taxable benefits provided to your employees.

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MPs call for business rates cut in 2021 Budget

A total of 45 MPs in England are calling for Chancellor Rishi Sunak to cut business rates in England from 50 per cent of the market rent to 35 per cent in the 2021 Budget.

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Online sales tax proposal for Autumn Budget

The UK Treasury is considering online sales tax for retailers such as Amazon, Asos and Ocado, after a drastic increase in online shopping and the current “uneven system”, has caused many in-store retailers to be at a disadvantage.

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ICAEW “questions” pension tax relief proposals

The Institute of Chartered Accountants in England and Wales (ICAEW) has raised concerns over proposals to alter the level of tax relief on pensions contributions for low-earners, arguing that any changes could burden businesses.

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HMRC: Making Tax Digital to be extended to all VAT-registered businesses from 2022

HM Revenue & Customs (HMRC) has confirmed that Making Tax Digital (MTD) will be extended to all VAT-registered businesses from April 2022.

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Government announces new stamp duty rates for non-residents from April 2021

HM Revenue & Customs (HMRC) has announced new rates of Stamp Duty Land Tax (SDLT) for non-residents from 1 April 2021.

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