COVID 19: Scotland extends refund period for second home purchase tax
21 May: Homeowners in Scotland temporarily have three years to sell their home after buying a replacement property and claim a refund of land and buildings transaction tax (LBTT).
Tax news from May 2020
Latest news on the UK tax system, brought to you by the ICAEW Tax Faculty.
Government stretches furlough scheme to October
12 May: The Chancellor has extended the government’s Coronavirus Job Retention Scheme until the end of October and announced the introduction of new ‘part-time’ furlough flexibility from August.
Delay to DAC6 exchange of information
11 May: European Commission (EC) proposes three-month postponement of the exchange of information under the Directive on Administrative Cooperation (DAC6) due to the coronavirus.
New trust registration service starts to go live
1 May: The first element of HMRC’s new trust registration service has been released, allowing details of trusts already registered to be updated.