Businesses encouraged to access their BTA
30 September 2020: New guidance from HMRC explains the services available in business tax accounts (BTAs). ICAEW’s Tax Faculty outlines what the account offers.
Tax news from September 2020
Latest news on the UK tax system, brought to you by the ICAEW Tax Faculty.
ICAEW gives evidence to parliament on future of tax system
22 September 2020: Key recommendations to the Treasury Select Committee included moving the tax year end, focusing on the distinction between employed and self-employed, and improving day-to-day interactions with the tax administration system.
Business rates multiplier should be reduced, says ICAEW
21 September 2020: ICAEW has warned that urgent action is needed before the current business rates holiday ends in April 2021 and suggested that there was a strong case for a significant reduction in the multiplier.
Changes to retail exports and duty-free shopping
17 September 2020: Duty-free shops will return from 1 January 2021, but international visitors to Great Britain will no longer be able to buy and take with them tax-free purchases from other retailers in the country as the VAT retail export scheme is scrapped.
HMRC clarifies zero VAT rating of digital ads for charities
8 September: HMRC’s latest guidance sets out its VAT relief policy for a variety of digital advertising scenarios for charities.