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Tax news from September 2020

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

Employers reminded to make PSA payments by 22 October

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.

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.

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.

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