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Tax news October 2020

Latest news on the UK tax system, brought to you by the ICAEW Tax Faculty.

Are you planning a virtual Christmas party?

Updated 20 November: Organisations wanting to provide some festive cheer for their staff this winter face some difficult challenges. ICAEW’s Tax Faculty outlines the tax considerations that employers will need to think about.

CJRS claimants must act now on EA and NIC

15 October: Guidance from ICAEW’s Tax Faculty on the quick action needed to reconcile Employment Allowance (EA) and the NIC element of the Coronavirus Job Retention Scheme (CJRS).

Details of enhanced time-to-pay for self assessment bills

5 October 2020: ICAEW’s Tax Faculty explains the enhanced payment arrangements announced by the Chancellor for those paying income and capital gains tax via self assessment. HMRC has increased the upper threshold for online applications for time-to-pay to £30,000.