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Tax Round-up 2020

Author: Tax Faculty

Published: 24 Sep 2020

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There is a sense of very significant change for the tax system coming over the next few years. HMRC and government have been extremely active and a large volume of publications issued before the parliamentary recess address measures for the future of the tax system.

This webinar from the Tax Faculty provides a round up of all the measures that are under review and subject to consultation and how the faculty will be responding.

The current tax landscape includes:

  • digitalisation of the tax system
  • the extension of MTD for VAT to all traders from April 2022 and MTD for income tax being mandatory from April 2023
  • the possibility of 'more timely' tax payments
  • a review of the tax administration framework including simplified registration processes and smarter use of data

Changes due to take effect : 

  • Off-payroll working being extended to the private sector from April 2021
  • Anti-avoidance - possible new measures to tackle promoters of avoidance schemes, and disguised remuneration schemes in particular
  • Tax reform - The possibility of reforms to CGT, IHT, corporate interest deductions, taxing digital services, and R&D tax relief
  • EU withdrawal - The end of the transitional period will mean major changes to the UK's trading arrangements
Broadcast on 24 September 2020

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