Latest news on the UK tax system, brought to you by the ICAEW Tax Faculty.
30 March: Businesses participating in Making Tax Digital for VAT have until 1 April 2021 to meet the requirement to have ‘digital links’ within their recordkeeping in light of the coronavirus pandemic.
Updated 6 April: The UK government is supporting businesses during the coronavirus pandemic by deferring VAT and self assessment payments. ICAEW's Tax Faculty outlines how the deferral will work.
Key information and support on the CJRS, including the latest changes and extension announced by the Chancellor in the Budget on 3 March.
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.
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.
When the ship and its crew is in danger the captain needs to lead by example, up on deck lashed to the wheel and trying to steer the ship out of the storm.
The Chancellor announced he will continue to use the tax system to support genuine risk-taking and creativity where it is proven to be effective.
There are several provisions in Budget 2020 to help businesses cope with COVID-19 which expand upon measures previously announced.
The Budget brought welcome news on postponed accounting together with a surprise announcement on the VAT treatment of e-publications.