28 August: HMRC has emphasised that claims for grants under the Coronavirus Job Retention Scheme (CJRS) for the period 1 to 31 July, do not have to be made by the end of August.
Tax news from August 2020
Latest news on the UK tax system, brought to you by the ICAEW Tax Faculty.
27 August 2020: Further clarity is being sought from HMRC for cases where the secondary NIC an employer can offset using employment allowance (EA) includes amounts for which CJRS grants have been claimed.
27 August: HMRC’s plans to tackle abuse of the construction industry scheme (CIS) would create a burden disproportionate to the relatively small amount of revenue at stake and affect many compliant businesses, ICAEW has warned.
27 August 2020: ICAEW has raised concerns that some genuine research and development (R&D) businesses could be impacted by proposals to tackle tax relief abuse, while its unclear how the measures will tackle low-value fraudulent claims.
27 August 2020: ICAEW has questioned whether a new regime requiring large corporates to disclose tax uncertainties is necessary and warns it could lead to over reporting and increased administration.
26 August: Employers may face delays to claims for grants under the Coronavirus Job Retention Scheme (CJRS) as format issues could see bulk upload files rejected.
24 August: ICAEW members working in business and non-profits, and those who are unemployed, have been given access to more than 60 tax and accountancy titles from Bloomsbury until the end of October.
20 August 2020: Capital gains on UK residential property need to be reported within 30 days of completion. HMRC has now updated its system to allow reports of second and subsequent disposals to be made online.
18 August 2020: ICAEW’s Tax Faculty provides a rundown of some of the latest updates for employers from HMRC, including a reminder that August's deadline for electronic PAYE payments is a Saturday, so organisations need to double check payments will clear in time.
18 August: HMRC has stepped up its compliance activity on Coronavirus Job Retention Scheme grants, writing to 3,000 employers who may need to repay some or all of their claim.
18 August: ICAEW’s Tax Faculty explains why employers and agents who have submitted forms P11D and P11D(b) on time are receiving penalty warning letters from HMRC.
18 August: Two new publications from HMRC outline its approach to collecting tax debt and highlight the importance of early discussions with debt management when problems are anticipated.