25 September 2020: Employers with a PAYE settlement agreement (PSA) in place should not wait for a payslip from HMRC before making a payment to avoid interest and late payment penalties, warns ICAEW’s Tax Faculty.
Tax news from September 2020
Latest news on the UK tax system, brought to you by the ICAEW Tax Faculty.
24 September 2020: If an employer normally pays staff on jury service, they will be able to make a claim under the coronavirus job retention scheme (CJRS), HMRC has confirmed.
23 September 2020: HMRC announces simplification for opticians and dispensers of hearing aids to account for VAT on their supplies.
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.
21 September 2020: Register now to join the Tax Faculty’s webinar with the Office of Tax Simplification (OTS) and discuss potential changes to the CGT regime
21 September 2020: ICAEW has asked HMRC to consider appropriateness of including DAC 6 failures in the promoters of tax avoidance schemes (POTAS) rules.
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.
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.
15 September 2020: After HMRC confirmed that it has 10 live corporate criminal offence (CCO) investigations, ICAEW is reminding members to ensure they are familiar with the legislation.
15 September 2020: The automatic extension of Companies House filing deadlines in light of the coronavirus pandemic provides breathing space for SAOs.