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.
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?
A recent change in government messaging suggests that the autumn budget will combine targeted tax reliefs and incentives with tax increases. However, final decisions will not be made until the financial impact of the forthcoming lockdown easing has been assessed. What happens next?
Following Marcus Rashford’s campaign for free school meals to continue through the 2020 summer holidays, there is a big focus on the issue of ‘holiday hunger’. As data from the Food Foundation highlights that over 200,000 children have skipped a meal due to lack of access to food during lockdown, we ask the question: should the “coronavirus summer food fund” be made permanent and if so, could a ‘fat tax’ fund it?
The Chancellor is looking for simple tax measures to boost the economy after coronavirus. We suggest a Stamp Duty Land Tax change which would help older people maintain independent living while reducing intergenerational inequality.
With the coronavirus restrictions biting hard, many businesses turned to the financial assistance made available by the Government. But there are concerns that not all have fully understood the terms and conditions that apply.
The extent of planned capital expenditure (capex) cuts by large listed companies in the UK was last week predicted to reach somewhere in the region of £23bn. CFOs seem to favour cash preservation over investment. What can Government do to lure business leaders away from their spending funk? Boosting the level of R&D tax relief available and relaxing the qualifying criteria would be a good starting point.
For many employees with a company car sitting idle outside their homes during lockdown, what was once a valued benefit has become an expensive gadget which has hardly been used over last three months. All is not lost for those who also have their fuel paid for by their employer, as a tax refund could be on the cards.