HMRC confirms that CGT property returns must be filed

HMRC has clarified that, with one exception, a CGT property return must be filed even if the disposal has already been reported on a self assessment return. ICAEW’s Tax Faculty explains the rules and the impact on penalties.

Digital interfaces in tax

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Paul Aplin, a member of the Tax Faculty Board, focuses on the digital interface between taxpayers and tax authorities.

Prohibition on provision of accountancy services to Russia comes into force

On 20 July 2022, the government laid new regulations in Parliament that will prohibit the provision of certain services, including ‘accountancy services’ and ‘management consultancy services’, to Russian companies.

ICAEW technical round-up: June 2022

This month’s top technical stories include a decrease in the UK’s estimated tax gap, delay to implementation of the global minimum tax rate and HMRC clarification on R&D tax credit compliance checks.

Get ready to file plastic packaging tax returns

Businesses that manufacture plastic packaging in the UK, or import plastic packaging into the UK, may need to submit a plastic packaging tax return by 29 July 2022.

HMRC updates guidance on accounts for non-resident corporate landlords

Some uncertainty has arisen over the nature of accounts that need to be submitted with tax returns for non-UK resident companies with UK rental profits. HMRC has now updated its guidance to make the position clear.

ICAEW technical round-up: May 2022

This month’s top technical stories include some R&D tax credits suspended by HMRC, why IR35 is fundamentally problematic and the tax and NIC treatment for displaced Ukraine employees relocating to the UK.

Might a budget payment plan help your self assessment clients?

HMRC is promoting the benefits of early filing of tax returns including the budget payment plan.

File CGT property disposal returns before SA returns

HMRC is reminding taxpayers and agents that CGT UK property returns must be filed before the relevant self assessment return. ICAEW’s Tax Faculty provides some updates on the requirement to file CGT returns within 60 days of completion.

Additional information being requested by banks and lenders

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As GP practice accountants we have always been asked to provide certain confirmation details to banks and lenders. Until recently this has typically involved completing a lender’s Accountant’s Certificate which confirms an individual’s income details, or simply sending copies of the last three years’ ‘SA302’s’ (the tax calculation that accompanies a personal tax return).