Blog

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Online platforms role in ensuring tax compliance

The government will publish its response to the call for evidence The Role of Online Platforms in Ensuring Tax Compliance by Their Users, which was launched at the Spring Statement 2018. This will ... more


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Consultation on the taxation of trusts

As announced at Autumn Budget 2017, the government will publish a consultation on the taxation on trusts, to make the taxation of trusts simpler, fairer and more transparent.


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National Living Wage/National Minimum Wage

The Low Pay Commission (LPC) has recommended, and the Government has accepted, that the hourly rates should increase in April 2019 as follows: * from £7.83 to £8.21 for workers age... more


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Tax treatment of Social Security Benefits

Legislation will be introduced in Finance Bill 2018/19 to clarify the income tax treatment of 9 social security benefits. The tax treatment of these benefits will be legislated for as follows: ... more


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HMRC to join preferred creditor list

From 6 April 2020, the government will change the rules so that when a business enters insolvency, more of the taxes paid in good faith by its employees and customers and temporarily held in trust ... more


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Interest provisions for late payment, repayment and penalties

The detail of how interest is applied to late payments for corporation tax, Stamp Duty and SDLT and to penalties imposed for failure to comply with obligations under PAYE, is to be clarified. ... more


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Voluntary tax returns

Historically HMRC have exercised discretionary collection and management powers to accept and treat voluntary income and corporation tax self-assessment returns received on the same basis as tax re... more


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Carbon emissions tax

Details of a proposed carbon emissions tax have been confirmed, but the measure will take effect only if the UK leaves the EU without an agreement. If implemented, it will affect permit holders of ... more


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Plastics tax

The government plans to introduce a tax on the production and import of plastic packaging from April 2022. This follows the government's response to the call for evidence on tackling the plasti... more

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52
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SDLT relief for first-time buyers extended

The existing Stamp duty land tax (SDLT) exemption for first-time buyers will be extended to shared ownership purchases. The Chancellor stated that the exemption of 'first-time buyers' SDLT ... more


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Changes to the higher rates of Stamp Duty Land Tax for additional dwellings

The time allowed to claim back higher rates for additional dwellings where an individual sells their old home is to be extended. Currently, a successful reclaim must be made by the latter of: ... more


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VAT: no change in registration and deregistration thresholds

The VAT registration and deregistration thresholds will remain unchanged for 2019/20. Therefore legislation will continue as follows: * the taxable turnover threshold that determines whet... more


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Digital Services Tax

From April 2020, the government will introduce a new 2% tax on the revenues of certain digital businesses which derive value from their UK users. The tax will: * apply to revenues generated fr... more


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Preventing abuse of the R&D tax relief for SMEs

The Finance Bill 2019/20 will introduce a limit on the amount of payable tax credit that can be claimed by a company under the Research & Development (R&D) SME tax relief. The limit will be... more


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Corporate capital loss restriction

The government will legislate in the Finance Bill 2019/20 to restrict companies’ use of carried-forward capital losses to 50% of capital gains from 1 April 2020. The provisions will include a... more