Weekly tax brief | 28 April 2020

Tax reform can help meet the needs of post-coronavirus UK
George Bull
With growing recognition that economic life will not be the same after coronavirus, the tax system will have an important part to play in the recovery and in the transition to the new normal. Tax reform will be required. What might this look like?

The hidden SDLT cost of coronavirus
Chris Etherington
With the property market grinding to a halt and more than 370,000 transactions reportedly on hold, a sizeable SDLT cost may be looming for the self-builders, ‘grand designers’ and couples who have moved in together, as the lockdown means they are running out of time to reclaim the tax previously paid. We call on the government to relax the rules.

Coronavirus: make sure your good deed goes unpunished 
Gillian McGill and Scott Harwood
Giving away goods and services to help the NHS fight the coronavirus might have unintended VAT consequences for well-meaning businesses. 

Changing your accounting date can save tax
Tim Parr and Mark Waddilove
A simple change to the accounting date for an unincorporated business have a dramatic impact on the amount of tax due and the date it is payable.

Should you defer July payments on account? 
Tim Parr and Mark Waddilove
To pay or not to pay – that is the question!

HMRC’s policy on agreement of trading losses during coronavirus crisis needs clarity
Jackie Hall
In these trying times businesses need to be certain that relief will be given for trading losses arising in periods when trading may have been interrupted by lockdown measures.