Weekly tax brief | 29 September 2020

Is 30-day CGT reporting being missed by conveyancers?
Elaine Shiels
Property sales are on the rise, but some sellers may be in for a nasty surprise if they don’t report and pay CGT (capital gains tax) on time. With most taxpayers unaware of the new rules, we ask whether conveyancers are posing the right questions. And could HMRC be doing more to help?

Can public engagement with taxation help determine post-coronavirus tax policy?
George Bull
The world will not be the same after coronavirus. That applies to tax as much as to anything else. If tax systems are to be updated to reflect the new demands they will have to meet, shouldn’t the people who will have to pay the taxes have a say in designing them?

Budgeting is never easy…
Shirley McIntosh
Covid-19, Brexit and the independence debate are familiar subjects in Scotland. With an election next year, the recent Scottish Income Tax outturn reconciliation for 2018/19 leaves the Scottish Government facing its biggest budgeting challenge to date.

Businesses must take corporate tax crime more seriously, or risk criminal conviction and an unlimited fine
Paul Marcroft
The Corporate Criminal Offence (CCO) was introduced by the Criminal Finances Act in 2017 and places an obligation on companies and partnerships to prevent people associated with them, typically employees but including anyone acting on the entity’s behalf, from facilitating a third party’s tax evasion. The first a company or partnership may know of a CCO investigation is when HMRC arrives at the door with an arrest warrant for the suspected facilitator.

More time to pay some taxes under latest Covid-19 Government measures
Sarah Halsted and Sarah Saunders
The Government has introduced several new measures to assist taxpayers in these financially difficult times. We review the approach to SA (Self-Assessment) tax and VAT payments.