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…
Tax
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 Personal Tax Account and your State Pension
There are many benefits to setting up your Personal Tax Account (PTA) and in particular, the ability to check your State Pension position. You can set up your PTA using…
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…
VAT domestic reverse charge for building and construction services delayed
HMRC has announced a one-year delay to the introduction of the VAT domestic reverse charge for building and construction services. The reverse charge represents part of a government clamp-down on…
Tax efficient investments ahead of the tax year end
With the end of the tax year looming there is still time to save tax for 2018/19. Make full use of your ISA allowance – ISAs can offer a useful…
End of content
End of content
Our Terms
Follow Us
Subscribe
© 2022 Simpson Wood – Website by Paladin
