Fifth SEISS grant will be open to claims from late July
HMRC has confirmed that the fifth Self-employment Income Support Scheme (SEISS) grant covering the period May 2021 to September 2021 will open to claims from late July. To be eligible…
Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 June 2021. The guidance states: ‘You can use the previous rates for up to one month…
Effectiveness of OTS set to be reviewed by Treasury
The Treasury has launched a review into the effectiveness of the Office of Tax Simplification (OTS), the independent body responsible for helping to make the UK tax system simpler and…
HMRC urged to rethink quarterly reports under MTD for corporation tax
The Institute of Chartered Accountants in England and Wales (ICAEW) has urged HMRC to rethink the requirement for companies to report quarterly under Making Tax Digital for corporation tax (MTD…
Government publishes details of Finance Bill 2021
The details of the Finance Bill 2021 have been published by the government. The Bill outlines the key measures set to be brought into legislation, including many measures announced in…
Consultations launched on UK’s first Tax Day
The government has published over 30 updates, consultations and documents on the UK’s first ever Tax Day. The announcements, which would traditionally be published at Budget, have been released later…
Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 March 2021. The guidance states: ‘You can use the previous rates for up to one month…
LITRG calls for a rise in the High Income Child Benefit Charge threshold
The Low Incomes Tax Reform Group (LITRG) has urged the government to raise the High Income Child Benefit Charge (HICBC) threshold to avoid it affecting basic-rate taxpayers for the first time…
Scottish Land and Buildings Transaction Tax
As part of the Scottish Budget, Finance Secretary Kate Forbes also announced changes to Land and Buildings Transaction Tax (LBTT) which apply from 1 April 2021. The Scottish Government’s stated…
Scottish Budget Income Tax
Finance Secretary Kate Forbes delivered the 2021/22 Scottish Draft Budget on Thursday 28 January 2021, setting out the Scottish Government’s financial and tax plans. The Government has devolved powers to…
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