Other News
Government launches small business micro loan scheme
On 4 May 2020 the government launched the Bounce Back Loan Scheme.
Wednesday, May 6, 2020Lenders 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, 2020Job Retention Scheme goes live
On 20 April 2020 the government's Coronavirus Job Retention Scheme went live for applications.
Wednesday, May 6, 2020HMRC releases guidance for self-employed scheme
HMRC has released guidance on the COVID-19 Self-employment Income Support Scheme.
Wednesday, May 6, 2020Government 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, 2020OBR 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, 2020Government 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, 2020HMRC 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, 2020Chancellor'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, 2020Chancellor 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, 2020Regulators request delay in corporate reporting
Financial regulators have requested a moratorium on corporate financial reports for at least two weeks.
Monday, April 6, 2020HMRC 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, 2020Get 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, 2020New 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, 2020HMRC 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, 2020Rise in contactless card payment limit
From 1 April the spending limit for contactless card payments increased.
Monday, April 6, 2020COVID-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, 2020Spring Budget 2020
The Chancellor Rishi Sunak presented his first Budget on Wednesday 11 March 2020.
Thursday, March 12, 2020Coronavirus 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, 2020Review 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, 2020IFS 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, 2020Minimum 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, 2020Advisory fuel rates for company cars
New company car advisory fuel rates have been published which take effect from 1 March 2020.
Thursday, March 5, 2020Don'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, 2020Freeports
The government has launched a consultation on proposals to create up to ten freeports across the UK.
Thursday, March 5, 2020Additional 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, 2020Brexit - 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, 2020Scottish 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, 2020Budget Day 11 March
Chancellor Sajid Javid has announced that he will deliver the 2020 Budget on Wednesday 11 March 2020.
Monday, February 10, 2020A 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, 2020Off-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, 2020Tax 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, 2020Changes 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, 2020New 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, 2020Chancellor announces Budget date
Chancellor Sajid Javid has announced that he will deliver the 2020 Budget on Wednesday 11 March 2020.
Tuesday, January 7, 2020Minimum wage rates announced
The government has announced the largest increase since the National Living Wage was introduced two decades ago.
Tuesday, January 7, 2020Review 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, 2020Chancellor 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, 2020Retiring 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, 2020Guidance on Structures and Buildings Allowance
The latest HMRC Agent Update includes guidance on the Structures and Buildings Allowance (SBA).
Tuesday, January 7, 2020Call 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, 2020Self assessment deadline approaching
The deadline for submitting your 2018/19 self assessment return is 31 January 2020.
Tuesday, January 7, 2020Current list of deliberate tax defaulters
HMRC publishes details of deliberate tax defaulters.
Tuesday, January 7, 2020Welsh government publishes Draft Budget
The Welsh government has published its Draft Budget.
Tuesday, January 7, 2020Working off-payroll
From 6 April 2020, a change to the off-payroll (IR35) rules is expected.
Wednesday, January 1, 2020Making sure gifts to employees are tax-free
Some employers may wish to give a small gift to their employees.
Wednesday, December 4, 2019Advisory fuel rates for company cars
New company car advisory fuel rates have been published which took effect from 1 December 2019.
Wednesday, December 4, 2019HMRC 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, 2019Check employment status for tax tool update
HMRC has issued an update to the Check employment status tool (CEST).
Wednesday, December 4, 2019Temporary 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, 2019HMRC issues guidance on cryptoassets
HMRC has published guidance for people who hold cryptoassets.
Wednesday, December 4, 2019Latest guidance for employers
HMRC has issued the latest Employer Bulletin.
Wednesday, December 4, 2019Research and Development spend
The Office for National Statistics has revealed what UK businesses spent on Research and Development in 2018.
Wednesday, December 4, 2019Budget 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, 2019Christa 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, 2019Clamp 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, 2019Increase in probate fees abandoned
The government has abandoned its planned increase in probate fees.
Monday, November 4, 2019Charities 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, 2019Guidance 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, 2019HMRC 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, 2019Genuine 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, 2019VAT 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, 2019Independent 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, 2019Senior 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, 2019HMRC 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, 2019Brexit-readiness events for business
The Department for Business has launched a nationwide programme of events to help businesses prepare for Brexit.
Friday, October 4, 2019Experts 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, 2019Money 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, 2019Simplify 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, 2019HMRC 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, 2019Trusts 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, 2019Advisory fuel rates for company cars
New company car advisory fuel rates have been published which take effect from 1 September 2019.
Tuesday, September 3, 2019PAYE 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, 2019Self assessment deadlines
Two self assessment deadlines are approaching.
Tuesday, September 3, 2019HMRC latest guidance for employers
HMRC has published the latest edition of the Employer Bulletin.
Tuesday, September 3, 2019Strong 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, 2019Off-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, 2019Digital 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, 2019Insolvency 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, 2019Private 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, 2019Working 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, 2019VAT 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, 2019Wage 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, 2019Updated 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, 2019Tax gap remains low
HMRC has published a report showing that the UK tax gap in 2017/18.
Thursday, July 4, 2019Preparing the workforce for EU Exit
Over two thirds of EU citizens that are currently in the UK are here for work.
Thursday, July 4, 2019MTD 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, 2019Employer Bulletin - latest guidance
HMRC has issued the June 2019 edition of the Employer Bulletin.
Thursday, July 4, 2019New 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, 2019Payment on account confusion
Under self assessment taxpayers are required to make payments on account of their tax liabilities.
Thursday, July 4, 2019UK 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, 2019Consultation 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, 2019MTD for VAT is now live
We answer some key questions.
Wednesday, June 12, 2019OTS 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, 2019HMRC 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, 2019Forms 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, 2019Welsh 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, 2019Consultation 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, 2019Consultation 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, 2019Advisory fuel rates for company cars
New company car advisory fuel rates have been published which take effect from 1 June 2019.
Tuesday, June 4, 2019Non-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