Latest news on the UK tax system, brought to you by the ICAEW Tax Faculty.
31 October: Ahead of its planned launch HMRC released detailed guidance on how the Job Support Scheme (JSS) will work. Following the Prime Minister's statement on the evening of 31 October, HMRC has confirmed that the JSS will not launch until the furlough scheme has closed.
28 October 2020: HMRC has introduced a workaround for those who have been unable to obtain a national insurance number and need to register a self-employment and obtain a Unique Taxpayer Reference (UTR).
28 October: The digitalisation of tax offers significant potential benefits for taxpayers and agents, as well as administrations, but these will not be achieved without collaboration agree industry experts at the Wyman Symposium.
27 October: Parents whose salaries are being partially paid by the new coronavirus support schemes will continue to be eligible for 30 hours free and tax-free childcare support even if their income falls below the minimum threshold requirement.
27 October: ICAEW’s Tax Faculty reminds organisations and tax agents that from 1 November 2020 there will be a surcharge on payments made by corporate debit cards to HMRC.
27 October: HMRC has reiterated that payroll services offered by third parties to disabled individuals employing personal assistants are not VAT exempt, maintaining a First-tier Tribunal case was ‘wrongly decided’.
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.
22 October: Changes announced by Rishi Sunak today will bring more flexibility to the JSS and reduce costs to employers for employees working fewer hours due to the coronavirus pandemic.
22 October 2020: Rishi Sunak has announced that the third SEISS grant will now be based on 40% of average trading profits and businesses temporarily unable to trade due to coronavirus will be eligible.
21 October 2020: UK digital services tax will continue for longer than originally anticipated after OECD decision to extend discussions until mid-2021 ICAEW’s Tax Faculty reports.