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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Deadline to pay deferred VAT or arrange payment plan “fast approaching”

The deadline to pay deferred VAT or arrange a payment plan is “fast approaching”, the Institute of Chartered Accountants in England and Wales (ICAEW) has warned.

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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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New tax surcharges for late payments

In the 2021 Spring Budget, the Government announced a new penalty and interest regime to replace the VAT default surcharge. 

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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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The ATED return for 2021-22 is due by 30 April 2021

The Annual Tax on Enveloped Dwellings (ATED) return for 2021 to 31 March 2022, and any tax due for the year, is due by 30 April 2021.

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New call for professional accountancy standards

Calls have been renewed for the Government to make membership of a recognised professional body mandatory for anyone offering paid-for tax accountancy services.

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America could slap 25 per cent trade tariffs on the UK

The UK could face trade tariffs of up to 25 per cent on a host of exports in retaliation against a tax on US tech giants.

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Government to crack down on rogue tax advisers

Accountants who provide tax advice may be required to hold professional indemnity insurance (PII) under new laws proposed this week.

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Increasing number of taxpayers targeted with threatening tax scams, HMRC warns

Taxpayers should remain vigilant to tax scams “threatening arrest” following a surge in reports, HM Revenue & Customs (HMRC) has warned.

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Businesses are missing out on ‘significant’ revenue due to unclaimed VAT

UK businesses are losing 12 per cent of their revenue because they are failing to reclaim VAT, the latest research has revealed.

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Self-employed who missed extended tax return deadline “not eligible” for SEISS support, HMRC reveals

Self-employed taxpayers who failed to file their tax return by 02 March 2021 will not be entitled to further support under the Self Employment Income Support Scheme (SEISS), it has been revealed.

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IR35 – Everything you need to know

With new rules and regulators set to be introduced around off-payroll working rules, known as IR35, for the private sector in April 2021, many people are still unaware of their legal obligations.

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