The latest news about the UK's tax system brought to you by ICAEW's Tax Faculty.
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28 October: The digitalisation of tax offers significant potential benefits for taxpayers and agents, as well as administrations, but these will not be achieved without collaboration agree industry experts at the Wyman Symposium.
27 October: Parents whose salaries are being partially paid by the new coronavirus support schemes will continue to be eligible for 30 hours free and tax-free childcare support even if their income falls below the minimum threshold requirement.
27 October: ICAEW’s Tax Faculty reminds organisations and tax agents that from 1 November 2020 there will be a surcharge on payments made by corporate debit cards to HMRC.
27 October: HMRC has reiterated that payroll services offered by third parties to disabled individuals employing personal assistants are not VAT exempt, maintaining a First-tier Tribunal case was ‘wrongly decided’.
27 October: Organisations wanting to provide some festive cheer for their staff this winter face some difficult challenges. ICAEW’s Tax Faculty outlines the tax considerations that employers will need to think about.
22 October: Changes announced by Rishi Sunak today will bring more flexibility to the JSS and reduce costs to employers for employees working fewer hours due to the coronavirus pandemic.
22 October 2020: Rishi Sunak has announced that the third SEISS grant will now be based on 40% of average trading profits and businesses temporarily unable to trade due to coronavirus will be eligible.
21 October 2020: UK digital services tax will continue for longer than originally anticipated after OECD decision to extend discussions until mid-2021 ICAEW’s Tax Faculty reports.
20 October: The Tax Faculty is looking to recruit a business tax manager for a 12-month fixed term role.
20 October 2020: The Office of Tax Simplification (OTS) has recommended improvements to tax accounts and the functionality of HMRC’s online forms, alongside backing wider tax agent access to systems in its latest report. ICAEW’s Tax Faculty outlines the key suggestions.
20 October 2020: HMRC has started writing to Self-employment Income Support Scheme (SEISS) grant claimants that may have ceased trading and therefore do not qualify.
20 October: The road to enable agents to see and do everything their MTD clients can before April 2023 is under construction says Roy Wallace, HMRC’s Director of Making Tax Digital.