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TAX NEWS

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Published: 31 Mar 2021 Update History

Highlights from the broader tax news week ending 31 March, which includes: HMRC repackaging its guidance on tax implications of cryptocurrencies and rate change for COVID statutory sick pay rebate scheme.

HMRC publishes manual on cryptoassets

HMRC has replaced its guidance on the tax implications of cryptoassets for businesses and for individuals with its internal manual on cryptoassets. Published on 30 March, the manual offers additional commentary, but there has been no change in the guidance. The manual is split into three sections. The first two sections cover cryptoassets for individuals and businesses, while the third focuses on compliance. Read the manual in full. ICAEW has a articles, webinars and other helpful guidance on cryptocurrencies, including what they are, how you account for them and how you tax them.

Updated rates for COVID SSP rebates

HMRC has updated its guidance for employers wanting to use the Coronavirus Statutory Sick Pay Rebate Scheme to acknowledge a change in the weekly rate. From 6 April 2021 the weekly rate increases to £96.35 from £95.85.

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