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Latest tax news

The latest news about the UK's tax system brought to you by ICAEW's Tax Faculty.

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COVID-19: Digital options to communicate with HMRC

27 March: ICAEW has been inundated with queries around how businesses should manage communications with HMRC in light of the new restrictions. The Tax Faculty has put together this update on where HMRC is now accepting digital communications.

COVID-19: VAT and self assessment payment deferral

Updated March 27: The UK government is supporting businesses during the coronavirus pandemic by deferring VAT and self assessment payments. ICAEW's Tax Faculty outlines how the proposed action will work.

The Coronavirus Job Retention Scheme: furlough guidance

26 March 2020: the following is our understanding of this policy and how this will work based on the information published up to and including 26 March. It should not be relied on for advice at this stage but is intended to give an indication of how the scheme will work.

HMRC reflects on cost of MTD

24 March: Meeting the requirements of Making Tax Digital has cost some businesses and agents more than expected, HMRC has revealed, confirming independent research from ICAEW.

COVID-19: Support through the benefits system

20 March: ICAEW members may need to help clients, friends or family to access support through the benefits system during the coronavirus outbreak. Benefits may be something on which they would not usually advise. The Tax Faculty has created this basic guide on which benefits to consider, together with sources of support.

COVID-19: How to manage HMRC and tax compliance

19 March 2020: we anticipate and hope that HMRC will apply a more relaxed approach in the way it interacts with ordinarily complaint businesses who are facing difficulties as a result of COVID-19. However, an understanding of the basic rules around managing disputes with HMRC will be helpful when navigating the ramifications of COVID-19. The Tax Faculty share questions that may be useful to consider.

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