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Displaying 1-10 of 25 results
Tax news in brief
- Article
- 29 Sep 2021
Highlights from the broader tax news week ending 29 September, which includes: HMRC figures confirm 20% of cases put though CEST are 'undetermined', date confirmed for the Scottish 2022/23 Budget and draft legislation published for the new residential property developer tax.
MTD ITSA deferment provides more time to prepare, says FST
- Article
- 28 Sep 2021
The new Financial Secretary to the Treasury has confirmed that the decision to postpone the introduction of Making Tax Digital for income tax was made in recognition of the time needed for taxpayers, agents and HMRC to prepare for changes.
MTD ITSA and basis period reform postponed
- Article
- 23 Sep 2021
Government and HMRC have listened to representations and put back the implementation of MTD ITSA and potential reforms to basis periods. The new MTD ITSA start date of April 2024 for the self-employed and landlords has now been set in legislation, providing the certainty that has been lacking, says ICAEW.
COVID support schemes coming to an end
- Article
- 23 Sep 2021
On 30 September a range of government support packages to help businesses and individuals through the coronavirus pandemic will come to an end or change, including the furlough scheme and reduced SDLT rates in England. ICAEW insights provides a reminder of the changes.
Tax news in brief
- Article
- 22 Sep 2021
Highlights from the broader tax news week ending 22 September, which includes: upcoming deadlines for final claims for SEISS grants and for bulk appeals of late-filing penalties, as well as additional HMRC support on reporting coronavirus support grants on CT600s.
Transport and scrap metal licence renewals to include a tax check in 2022
- Article
- 21 Sep 2021
HMRC is developing the system for tax checks that will apply to renewals of taxi driver and scrap metal site licences, among others, in England and Wales. The check will be integrated into the licencing application and agents will not be able to complete it on behalf of clients.
Energy and finance sectors target of IR35 compliance checks
- Article
- 21 Sep 2021
Businesses operating in the oil and gas, banking and finance sectors are being targeted by HMRC to confirm that they are complying with the off-payroll working regime introduced in April 2021.
Online VAT return is closing to 800 traders
- Article
- 21 Sep 2021
HMRC is trialling a forced closure of the online VAT return for 800 businesses that should be complying with Making Tax Digital for VAT. ICAEW warns that these businesses will not be able to file VAT returns due on 7 October 2021 unless they have signed up to MTD VAT.
Deadline nears for claims under disguised remuneration repayment scheme
- Article
- 21 Sep 2021
ICAEW’s Tax Faculty reminds agents and taxpayers that applications to reclaim tax under the disguised remuneration repayment scheme must be completed and received by HMRC by 30 September 2021.
Registration of self-employed reverts to pre-COVID process
- Article
- 20 Sep 2021
HMRC has confirmed that the normal process for registering as self-employed has been restored. Taxpayers who could not obtain a national insurance number during the pandemic used a workaround and now need to contact HMRC to arrange collection of Class 2 national insurance contributions.
Displaying 1-10 of 25 results