25 March: ICAEW's Tax Faculty advises that, due to fewer advisers, HMRC has reduced opening hours on helplines.
Tax news from March 2020
Latest news on the UK tax system, brought to you by the ICAEW Tax Faculty.
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.
19 March 2020: the government has published Finance Bill 2020 with few changes in light of the COVID-19 crisis, with support expected to come through other channels.
19 March 2020: business must keep track of losses resulting from coronavirus to ensure they can claim maximum reliefs and survive the pandemic, says ICAEW.
19 March 2020: funds for small employers and a dedicated statutory sick pay for coronavirus may be needed to deliver the government’s pledge of pay from day one.
18 March 2020: as the Tax Faculty seeks further clarification from HMRC on the support for businesses which are having difficulty paying tax bills due to COVID-19, it shares useful tips on how to negotiate with HMRC.
18 March 2020: changes to the off-payroll working regime will not take effect until April 2021 due to the coronavirus pandemic, HMRC confirms.
17 March 2020: ICAEW’s Tax Faculty is urging qualifying businesses to ensure that they keep records of statutory sick pay as evidence for future reclaims from the government.
17 March 2020: from April 1 2020 until the end of the transition period, drugs prescribed by ‘appropriate practitioners’ from the European Economic Area (EEA) and Switzerland will be zero rated for VAT, confirms HMRC.
17 March 2020: ICAEW’s Tax Faculty summarises HMRC’s latest Employer Bulletins, which included commentary on the Budget announcements and information on the changes to off-payroll working.