Weekly tax brief |10 November 2020

Brexit: the Top 5 customs disasters awaiting cross-border traders in 2021
Sarah Halsted
The National Audit Office has predicted that many of the government’s projects to prepare the UK border for the end of the Brexit transition period are at high risk of not being ready on time. UK businesses should brace themselves for widespread disruption to trade with the EU from 1 January 2021.

Controllers of companies to be educated by HMRC
Justin Stevenson
HMRC is using data from the register of persons with significant control (PSC) at Companies House to target beneficial owners of limited companies with its latest ‘one to many’ nudge letter. Letters are being sent to ensure those with an interest in non-listed companies have reported their personal tax position correctly in respect of taxable benefits received from the company.

Tax collection costs increase. Do we need a happier HMRC?
Sarah Saunders
HMRC’s 2020 accounts show that the per-pound collection costs of tax are increasing for the first time in fifteen years. Could this be related to the poor staff satisfaction figures?

Could new lockdowns mean unexpected tax bills for internationally mobile employees? 
Alex Foster and Ian Jones
Coronavirus has largely stopped employee travel around the world. However, some overseas tax authorities are taxing home-working UK employees as if they were still working abroad. Employers and employees could find themselves with extra tax bills, potentially a double tax charge, and exposure to other risks.


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