Tax accountants and advisers could face serious disciplinary action if they incorrectly encourage individuals to defer their tax payments due on 31 July 2020 and are urged to take care when advising their clients on what to pay.
Grants to support small businesses during the coronavirus crisis have been a welcome boost, but now as business owners start to think about their tax returns for the 2019/20 tax year, it is time to take a closer look at the amount of tax payable on these grants and when it will be due.
The capital gains tax filing deadline is now back to 30 days but HMRC’s online system still has many unsatisfactory features. Property-owners with CGT to pay need to make sure they are well prepared if they are to avoid hefty fines.
The Department for Business, Energy & Industrial Strategy (BEIS) published its UK R&D Roadmap last week. But getting this plan to a point at which it can be effectively deployed will require real engagement between Government and business over the coming months.
Details are emerging of a new electronic customs system to record imports of goods between the UK and the EU and between Northern Ireland and the rest of the UK after the end of the Brexit transition period. How will it work, and will it be ready on time?
The Chancellor has used tax changes in the Summer Statement to get people spending again. We review what has been proposed and what has not.
The First-tier Tax Tribunal has ruled that careers-coaching services provided to international students are not subject to VAT as the individuals are ‘usually resident’ outside the UK. Although the provider won the argument in principle, it had not kept sufficient records to prove that residence was normally outside the UK and has to account for VAT on some contracts.
With the deadline for the first grant claim for SEISS in less than two weeks, the Government needs to urgently review the scheme to ensure that self-employed individuals receive support equivalent to that available for the employed.
With Rishi Sunak due to deliver a fiscal statement on 8 July, will it be ‘all change’ in tax policy for the Conservative party?