The requirement for UK residents to report and pay capital gains tax (CGT) on disposals of UK residential property separately from the self assessment tax return was introduced in April 2020. The deadline is 60 days for all completions on or after 27 October 2021. Disposals occurring before this date had to be reported within 30 days. Non-residents have had an obligation since 2015. ICAEW’s Tax Faculty provides guidance on the digital service for reporting disposals to HMRC.

This guide considers the areas of uncertainty in the Finance (No. 2) Act 2017 statutory provisions for the cleansing of mixed funds. It is formed of questions and answers from ICAEW and other professional bodies, together with comments from HMRC.

In TAXguide 18/17, Caroline Miskin explains what special relief is, when it might apply and the conditions that need to be met to make a formal claim. Read a summary here, Tax Faculty members can download the full guide.

Taxpayers who need to submit a tax return for the tax year to 5 April 2023 should register for self assessment (SA) by 5 October 2023. Individuals who no longer need to file a tax return should also contact HMRC to have their notice to file withdrawn.

Draft legislation released on 18 July indicates that business and individual taxpayers will be required to provide more information, from creative sector relief regimes to PAYE reporting, to HMRC in the coming years.

Pre-population has the potential to increase accuracy and reduce taxpayer compliance obligations. However, it must be balanced with mechanisms for taxpayers to check and amend pre-populated data.

Filmed at the recent Tax Faculty conference, our video looks at the issues of simplicity, sustainability and technology from the key speeches and the views of the future from those in the know.

HMRC’s discussion document on simplifying income tax administration covers several disparate topics. ICAEW’s response agrees that improvements are possible if HMRC has the resources to develop its digital services and the needs of agents are considered.

Highlighting the seriousness of HMRC’s resourcing problems, it has been announced that the self assessment helpline will be closed until September. The restrictions on the agent dedicated line were removed from 5 June. Agents will be able to have self assessment queries answered on that line.

This webinar will help you navigate the significant changes to the fifth SEISS grant, and will also cover tax return and compliance issues.

Applications for the fourth SEISS grant open in late April 2021.

Lifting the bonnet to explain what filing a company tax return using iXBRL means in simple terms.