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Tax news from April 2021

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

Lessons from Ireland on changing the tax year

If the UK’s tax system is to grasp the opportunities of digitalisation and simplification, it needs to consider moving the start of the tax year. ICAEW Insights spoke to Dr Brian Keegan from Chartered Accountants Ireland about how the Irish navigated the change in 2002.

ICAEW updates guidance on engagement letters

ICAEW’s Technical Advisory Services has updated its support for practitioners on client engagement letters relating to tax services. The Tax Faculty highlight the key changes.

What COVID-19 means for the future of tax

With the pandemic increasing pressure on public finances, could this prompt overdue discussions on tax reform? ICAEW's Head of Tax Frank Haskew and independent adviser Martin Wheatcroft reflect on recent announcements and challenges facing the Chancellor.

Tax news in brief

Highlights from the broader tax news week ending 7 April, which includes confusion over when the rises to national minimum wage and living wage rises take effect; and additional guidance on R&D claims.

Find out about changes to SEISS grant eligibility

Eligibility for the fourth and fifth SEISS grants will be assessed using additional evidence not used for the previous grants. Join the Tax Faculty’s Caroline Miskin for a free webinar to find out more

Problems with import VAT statements

Some importers have experienced issues with access to and the accuracy of their monthly statements for January and February 2021. HMRC has confirmed it will not charge a penalty for errors in VAT returns provided taxpayers take reasonable care and follow guidance.