Government consults on new customs tariff for post-Brexit era
Brad Ashton and Sarah Halsted
The Department for International Trade (DIT) has launched a public consultation on its proposals for a new UK customs tariff, to be implemented at the end of the Brexit transition period. The closing date for comments is 5 March 2020 and we can expect an announcement on the UK’s new tariff shortly thereafter. Businesses should take note.
When petrol and diesel cars are banned, what will replace fuel duty?
Last week, the Government announced its plans to bring forward the ban on the sale of new petrol, diesel and hybrid cars by five years to 2035. The move will lead to a corresponding decrease in fuel duty receipts, so what will replace the current system?
'Change is coming, whether you like it or not' – Greta Thunberg
In October 2018, the Chancellor unexpectedly announced the ending from April 2020of Enhanced Capital Allowances (ECA) for energy- and water-efficient plant and machinery. With the deadline fast approaching there is still time for businesses to benefit from this valuable relief. But is this really the end of tax relief for energy efficiency?
Time-to-pay arrangements now online
In a welcome move, HMRC has announced a simplified way to allow some individuals within self-assessment to set up payment plans online. The scheme offers one-off payment plans to give taxpayers extra support where they are facing genuine hardship.
Why crypto-traders might need to revisit their returns
Having just passed the 31 January tax return deadline, cryptoasset traders may be sitting contentedly in the knowledge that they submitted their return way ahead of schedule. What many may not realise is that HMRC changed the rules in November 2019 so people may have reported their trading in cryptoassets incorrectly on their tax returns.