HMRC extends late reporting deadline for CGT
HMRC has confirmed it will not charge penalties for the late reporting of capital gains tax (CGT) on disposals of UK residential property by UK residents made by 31 July…
Review of the Disguised Remuneration Loan Charge
The government has announced it will make a number of changes to the loan charge rules, in response to Sir Amyas Morse’s independent review of the loan charge policy and…
Chancellor commits to review of IR35
The Chancellor of the Exchequer, Sajid Javid has announced that the major review of all aspects of self-employment, promised in the Conservatives’ manifesto, will include the proposed extension of the…
Guidance on Structures and Buildings Allowance
The latest HMRC Agent Update includes guidance on the Structures and Buildings Allowance (SBA). This capital allowance is designed to provide tax relief for businesses and to support investment in…
Welsh government publishes Draft Budget
The Welsh government has published its Draft Budget, setting out revenue raising and capital spending plans for 2020/21. The Draft Budget confirms no changes are proposed to Welsh income tax…
Current list of deliberate tax defaulters
HMRC publishes details of deliberate tax defaulters, those people who have received penalties either for: • deliberate errors in their tax returns or • deliberately failing to comply with their tax…
Self assessment deadline approaching
The deadline for submitting your 2018/19 self assessment return is 31 January 2020. The deadline applies to taxpayers who need to complete a tax return and make direct payments to…
Call for review of High Income Child Benefit Charge
The Low Incomes Tax Reform Group (LITRG) is calling on the government to address issues with the High Income Child Benefit Charge (HICBC). The HICBC is designed to claw back…
Retiring clinician’s payments
The Secretary of State has confirmed that the commitments being entered into, to make payments to clinicians affected by annual allowance pension tax, will be honoured when clinicians retire. In…
HMRC collects record amounts of IHT
The government has announced that HMRC collected a record sum of £5.4 billion in inheritance tax (IHT) during the 2018/19 tax year. The increase comes on the back of a…
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