Other News

Government launches small business micro loan scheme

On 4 May 2020 the government launched the Bounce Back Loan Scheme.

Wednesday, May 6, 2020

Lenders relax evidence requirements for business interruption loan scheme applications

On 27 April 2020 the UK's seven largest small business lenders announced they had relaxed their evidence requirements for applications to the Coronavirus Business Interruption Loan Scheme (CBILS).

Wednesday, May 6, 2020

Job Retention Scheme goes live

On 20 April 2020 the government's Coronavirus Job Retention Scheme went live for applications.

Wednesday, May 6, 2020

HMRC releases guidance for self-employed scheme

HMRC has released guidance on the COVID-19 Self-employment Income Support Scheme.

Wednesday, May 6, 2020

Government launches support finding tool for business

The UK government launched an online platform to help businesses access financial support during the COVID-19 crisis.

Wednesday, May 6, 2020

OBR predicts UK economy will shrink by over a third

The Office for Budget Responsibility (OBR) has warned that the UK economy could shrink by 35% this quarter due to the COVID-19 crisis.

Wednesday, May 6, 2020

Government borrowing could rise to £300 billion

The Centre for Policy Studies (CPS) has suggested that government borrowing may rise to £300 billion in 2020 as a result of the COVID-19 pandemic.

Wednesday, May 6, 2020

HMRC extends late reporting deadline for CGT

HMRC has confirmed it will not charge penalties for the late reporting of capital gains tax (CGT) on disposals of UK residential property by UK residents made by 31 July 2020.

Wednesday, May 6, 2020

Chancellor's business support packages for coronavirus pandemic

On 17 March, Chancellor Rishi Sunak unveiled a package of support for the UK economy as it combats the COVID-19 pandemic.

Monday, April 6, 2020

Chancellor unveils help for self-employed workers

On 26 March, Chancellor Rishi Sunak announced a scheme to help self-employed workers who have been hit by the COVID-19 crisis.

Monday, April 6, 2020

Regulators request delay in corporate reporting

Financial regulators have requested a moratorium on corporate financial reports for at least two weeks.

Monday, April 6, 2020

HMRC urges businesses using VAT deferral to cancel direct debits

Businesses that have been affected by the COVID-19 pandemic and are seeking to make use of the VAT deferral have been urged to cancel their direct debits 'as soon as they can'.

Monday, April 6, 2020

Get ready for 30-day returns and payments for residential property gains

Legislation has been enacted to change reporting obligations for residential property gains chargeable on UK resident individuals, trustees and personal representatives.

Monday, April 6, 2020

New tests and new car benefit percentages

As part of its drive to encourage green motoring, the government has introduced a new emissions test, as well as new car benefit percentages.

Monday, April 6, 2020

HMRC delays introduction of off-payroll rules to private sector

HMRC has delayed the introduction of off-payroll rules to the private sector as part of its measures to support businesses through the COVID-19 pandemic.

Monday, April 6, 2020

Rise in contactless card payment limit

From 1 April the spending limit for contactless card payments increased.

Monday, April 6, 2020

COVID-19: measures for UK businesses

Chancellor Rishi Sunak has set out a package of temporary, targeted measures to support public services, people and businesses through the period of disruption caused by COVID-19.

Wednesday, March 18, 2020

Spring Budget 2020

The Chancellor Rishi Sunak presented his first Budget on Wednesday 11 March 2020.

Thursday, March 12, 2020

Coronavirus measure: Statutory Sick Pay from day one

The Prime Minister, Boris Johnson, has announced that employees will be entitled to Statutory Sick Pay (SSP) from day one when self-isolating.

Thursday, March 5, 2020

Review confirms off-payroll working rules to go ahead from April 2020

The government has confirmed that reforms to off-payroll working rules for the private sector will go ahead from 6 April 2020.

Thursday, March 5, 2020

IFS calls for Chancellor to raise taxes in upcoming Budget

The Institute for Fiscal Studies (IFS) has urged Chancellor Rishi Sunak to use the forthcoming Budget to raise taxes.

Thursday, March 5, 2020

Minimum Wage increases

The National Minimum Wage (NMW) and National Living Wage (NLW) are the legal minimum wage rates that must be paid to employees.

Thursday, March 5, 2020

Advisory fuel rates for company cars

New company car advisory fuel rates have been published which take effect from 1 March 2020.

Thursday, March 5, 2020

Don't forget to make tax efficient investments ahead of the tax year end

With the end of the tax year looming there is still time to save tax for 2019/20.

Thursday, March 5, 2020

Freeports

The government has launched a consultation on proposals to create up to ten freeports across the UK.

Thursday, March 5, 2020

Additional financial support for flooding victims

The government has pledged thousands of pounds in additional financial support for victims of the recent floods.

Thursday, March 5, 2020

Brexit - transition period

The leaders of the UK and European Union signed the Withdrawal Agreement, and the UK left the EU on 31 January 2020.

Monday, February 10, 2020

Scottish Budget

Minister for Public Finance and Digital Economy, Kate Forbes, delivered the 2020/21 Scottish Draft Budget on Thursday 6 February 2020.

Monday, February 10, 2020

Budget Day 11 March

Chancellor Sajid Javid has announced that he will deliver the 2020 Budget on Wednesday 11 March 2020.

Monday, February 10, 2020

A decade of bizarre excuses and expense claims

Vengeful witches and pet hamsters feature in HMRC's list of imaginative excuses and expense claims.

Monday, February 10, 2020

Off-payroll working

HMRC has now published draft secondary legislation for the off-payroll working rules that are due to come into force in April this year.

Monday, February 10, 2020

Tax relief on professional fees and subscriptions

Employees are allowed to claim tax relief on their annual professional fees or subscriptions to some HMRC approved professional organisations.

Monday, February 10, 2020

Changes to overdraft fees

The Financial Conduct Authority (FCA) has confirmed it will introduce new rules in April this year that it says will make the costs of overdrafts clearer and easier to compare.

Monday, February 10, 2020

New right to paid parental bereavement leave

The government has confirmed that parents who suffer the loss of a child will be entitled to two weeks' statutory leave.

Monday, February 10, 2020

Chancellor announces Budget date

Chancellor Sajid Javid has announced that he will deliver the 2020 Budget on Wednesday 11 March 2020.

Tuesday, January 7, 2020

Minimum wage rates announced

The government has announced the largest increase since the National Living Wage was introduced two decades ago.

Tuesday, January 7, 2020

Review of the Disguised Remuneration Loan Charge

The government has announced it will make a number of changes to the loan charge rules.

Tuesday, January 7, 2020

Chancellor commits to review of IR35

The Chancellor of the Exchequer has announced that the major review of all aspects of self-employment will include the proposed extension of the Off-Payroll working rules to the private sector.

Tuesday, January 7, 2020

Retiring clinicians payments

The Secretary of State has confirmed that the commitments being entered into, to make payments to clinicians affected by annual allowance pension tax, will be honoured when clinicians retire.

Tuesday, January 7, 2020

Guidance on Structures and Buildings Allowance

The latest HMRC Agent Update includes guidance on the Structures and Buildings Allowance (SBA).

Tuesday, January 7, 2020

Call for review of High Income Child Benefit Charge

The Low Incomes Tax Reform Group is calling on the government to address issues with the High Income Child Benefit Charge.

Tuesday, January 7, 2020

Self assessment deadline approaching

The deadline for submitting your 2018/19 self assessment return is 31 January 2020.

Tuesday, January 7, 2020

Current list of deliberate tax defaulters

HMRC publishes details of deliberate tax defaulters.

Tuesday, January 7, 2020

Welsh government publishes Draft Budget

The Welsh government has published its Draft Budget.

Tuesday, January 7, 2020

Working off-payroll

From 6 April 2020, a change to the off-payroll (IR35) rules is expected.

Wednesday, January 1, 2020

Making sure gifts to employees are tax-free

Some employers may wish to give a small gift to their employees.

Wednesday, December 4, 2019

Advisory fuel rates for company cars

New company car advisory fuel rates have been published which took effect from 1 December 2019.

Wednesday, December 4, 2019

HMRC offers tips on avoiding Self Assessment tax scams

HMRC is giving information to taxpayers to help them avoid scams ahead of the Self Assessment deadline.

Wednesday, December 4, 2019

Check employment status for tax tool update

HMRC has issued an update to the Check employment status tool (CEST).

Wednesday, December 4, 2019

Temporary pensions tax arrangement for NHS staff

The Secretary of State for Health and Social Care has agreed to a temporary commitment to make payments to certain clinical staff outside of the NHS pension schemes to restore the value of their pension benefits package.

Wednesday, December 4, 2019

HMRC issues guidance on cryptoassets

HMRC has published guidance for people who hold cryptoassets.

Wednesday, December 4, 2019

Latest guidance for employers

HMRC has issued the latest Employer Bulletin.

Wednesday, December 4, 2019

Research and Development spend

The Office for National Statistics has revealed what UK businesses spent on Research and Development in 2018.

Wednesday, December 4, 2019

Budget will not now take place on 6 November

On 25 October 2019 the Chancellor of the Exchequer Sajid Javid wrote to the Treasury Select Committee.

Monday, November 4, 2019

Christa Ackroyd loses IR35 appeal

Former BBC presenter Christa Ackroyd has lost her appeal against a ruling that she was an employee, not a freelance contractor, when she worked for the BBC via a personal service company.

Monday, November 4, 2019

Clamp down on enablers of tax avoidance schemes

HMRC says it is clamping down on the promoters and enablers of tax avoidance schemes in the wake of the loan charge controversy.

Monday, November 4, 2019

Increase in probate fees abandoned

The government has abandoned its planned increase in probate fees.

Monday, November 4, 2019

Charities fraud protection failures

According to a report published by the Charity Commision, the majority of UK charities admit fraud is a major risk, but are still failing to carry out basic tasks in order to protect themselves.

Monday, November 4, 2019

Guidance for employers

HMRC has published the October 2019 issue of the Employer Bulletin which contains guidance on a number of issues relevant for employers.

Monday, November 4, 2019

HMRC countdown: file your tax return

With less than 100 days until the self assessment tax return deadline of 31 January 2020, HMRC is urging taxpayers to complete their tax returns early, in order to avoid the last minute rush.

Monday, November 4, 2019

Genuine HMRC contact and recognising phishing emails and texts

HMRC has updated their guidance on how to recognise when contact from HMRC is genuine.

Monday, November 4, 2019

VAT domestic reverse charge for building and construction services delayed

HMRC has announced a one-year delay to the introduction of the VAT domestic reverse charge for building and construction services.

Friday, October 4, 2019

Independent review of the Loan Charge

The government has initiated a review of the Loan Charge and whether the policy is an appropriate way of dealing with disguised remuneration loan schemes.

Friday, October 4, 2019

Senior clinicians' pensions consultation

The government has launched a consultation on proposals to give senior NHS doctors and nurses access to more flexible pensions.

Friday, October 4, 2019

HMRC collects record amounts of IHT

The government has announced that HMRC collected a record sum of £5.4 billion in inheritance tax during the 2018/19 tax year.

Friday, October 4, 2019

'Major gaps' in no-deal Brexit guidance

According to the British Chambers of Commerce (BCC) there are 'major gaps' in the government's no-deal Brexit guidance for UK businesses.

Friday, October 4, 2019

Brexit-readiness events for business

The Department for Business has launched a nationwide programme of events to help businesses prepare for Brexit.

Friday, October 4, 2019

Experts warning over insolvency debts

Prioritising HMRC over other creditors in insolvencies will have a 'negative impact on the UK's economic growth'.

Friday, October 4, 2019

Money Laundering non-compliance

HMRC has published details of businesses that have failed to comply with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

Friday, October 4, 2019

Simplify apprenticeship funding

The Institute of Chartered Accountants in England and Wales (ICAEW) has urged the government to simplify the complexities of accessing apprenticeship funding.

Tuesday, September 3, 2019

HMRC issues Customs EORI numbers

In order to try and ensure that businesses are ready to trade post-Brexit, HMRC is automatically enrolling them in the customs system.

Tuesday, September 3, 2019

Trusts with small amounts of savings income

In the latest Trusts and Estates Newsletter HMRC has confirmed the continuation of the interim arrangement for interest reporting.

Tuesday, September 3, 2019

Advisory fuel rates for company cars

New company car advisory fuel rates have been published which take effect from 1 September 2019.

Tuesday, September 3, 2019

PAYE late filing and late payment penalties

HMRC has confirmed that it will continue its risk-based approach to payroll Real Time Information (RTI) late filing and late payment penalties this tax year.

Tuesday, September 3, 2019

Self assessment deadlines

Two self assessment deadlines are approaching.

Tuesday, September 3, 2019

HMRC latest guidance for employers

HMRC has published the latest edition of the Employer Bulletin.

Tuesday, September 3, 2019

Strong Customer Authentication

The Financial Conduct Authority (FCA) has agreed a plan to give the payments and e-commerce industry extra time to implement Strong Customer Authentication (SCA).

Tuesday, September 3, 2019

Off-payroll rules for the private sector

The government has published the draft legislation for the next Finance Bill including the rules for off-payroll working in the private sector.

Friday, August 2, 2019

Digital Services Tax

From April 2020, the government will introduce a new 2% tax on the revenues of search engines, social media platforms and online marketplaces which derive value from UK users.

Friday, August 2, 2019

Insolvency hierarchy changes

From 6 April 2020, insolvency legislation will be amended to move HMRC up the creditor hierarchy for the distribution of assets in the event of insolvency.

Friday, August 2, 2019

Private Residence Relief changes

The government published draft legislation for the next Finance Bill including draft clauses on the changes to Private Residence Relief .

Friday, August 2, 2019

Working parents may be eligible for tax-free childcare this summer

The government is reminding working parents that they could ease this summer's childcare costs by using Tax-Free Childcare.

Friday, August 2, 2019

VAT changes may cause construction chaos

The Federation of Master Builders (FMB) is warning that a major change in the way that VAT is accounted for in the building and construction sector which takes effect later this year may cause chaos.

Friday, August 2, 2019

Wage growth at a high

Data published by the Office for National Statistics (ONS) has revealed that UK wage growth increased to 3.6% in the year to May 2019, the highest rate since the financial crisis in 2008.

Friday, August 2, 2019

Updated guidance on spotting HMRC scammers

HMRC has updated their list of examples of websites, emails, letters, text messages, WhatsApp messages and phone calls used by scammers and fraudsters to obtain an individual's personal information.

Friday, August 2, 2019

Tax gap remains low

HMRC has published a report showing that the UK tax gap in 2017/18.

Thursday, July 4, 2019

Preparing the workforce for EU Exit

Over two thirds of EU citizens that are currently in the UK are here for work.

Thursday, July 4, 2019

MTD for VAT latest

HMRC is phasing in its landmark Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system.

Thursday, July 4, 2019

Employer Bulletin - latest guidance

HMRC has issued the June 2019 edition of the Employer Bulletin.

Thursday, July 4, 2019

New measures to ensure small businesses get paid on time

The government has announced a package of measures to ensure small businesses get paid on time.

Thursday, July 4, 2019

Payment on account confusion

Under self assessment taxpayers are required to make payments on account of their tax liabilities.

Thursday, July 4, 2019

UK Investment Support Directory

International investors who wish to set up and expand their operations in the UK can now benefit from an online tool launched by the Department for International Trade (DIT).

Thursday, July 4, 2019

Consultation on the operation of Insurance Premium Tax

HMRC has launched a consultation to review the extent to which the emerging practices are leading to 'unfair tax outcomes' in the administration and collection of Insurance Premium Tax (IPT).

Thursday, July 4, 2019

MTD for VAT is now live

We answer some key questions.

Wednesday, June 12, 2019

OTS calls for simplifying everyday tax for smaller businesses

A report by the Office of Tax Simplification (OTS) calls on the government to prioritise action to 'address long-standing concerns about the experience of smaller businesses'.

Tuesday, June 4, 2019

HMRC taskforce tackles dishonest dog breeders

A taskforce has recovered more than £5 million by tackling dishonest dog breeders selling pups on the black market.

Tuesday, June 4, 2019

Forms P11D - reporting employee benefits

The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2019, are due for submission to HMRC by 6 July 2019.

Tuesday, June 4, 2019

Welsh taxpayers income tax code mix-up

From April 2019, Welsh taxpayers were assigned new income tax codes beginning with the letter 'C'.

Tuesday, June 4, 2019

Consultation on Companies House reforms

The government has launched a consultation on proposed reforms at Companies House, including a 'major upgrade' of its register.

Tuesday, June 4, 2019

Consultation on ancillary capital gains reliefs

A capital gains tax exemption applies when an individual disposes of a dwelling that has been used as their only or main residence under the Private Residence Relief rules.

Tuesday, June 4, 2019

Advisory fuel rates for company cars

New company car advisory fuel rates have been published which take effect from 1 June 2019.

Tuesday, June 4, 2019

Non-compliance with minimum wage regulations

A recent Low Pay Commission report sets out its findings on the number of people being paid less than the statutory minimum wage.

Tuesday, June 4, 2019