150,000 businesses owe HMRC £2.7 billion in deferred VAT payments

Jul 27, 2021

HM Revenue and Customs (HMRC) reported that 150,000 UK businesses have not yet made arrangements to pay back deferred VAT payments, and therefore owe the department £2.7 billion. As of 30 June 2021, nine per cent of the total VAT deferred ...

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HMRC helpsheet to support residential property sellers with new CGT rules

Jul 23, 2021

New guidance will help homeowners understand the implications of capital gains tax (CGT) when selling UK residential property, it has been revealed. HM Revenue & Customs (HMRC) said the new helpsheet – which can be downloaded here - will support taxpayers ...

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Electric car registrations surpassed 10 per cent mark in UK

Jul 06, 2021

According to new data, 10.7 per cent of car registrations in June were completely battery electric vehicles. In the same month, the Tesla Model 3 (a zero-emission car) was the largest seller in the UK, making it the first time electric ...

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NI Protocol: UK and EU agree to extend chilled meats grace period until 30 September 2021

Jul 01, 2021

Businesses in Great Britain will be allowed to continue moving certain chilled meat products across the Northern Ireland border after an extension was today agreed upon by the UK and EU. The transportation of chilled meats – such as sausages, chicken ...

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OTS to consider “benefits and implications” of moving tax year end date

Jun 10, 2021

The Office for Tax Simplification (OTS) will explore whether there is a case for moving the UK’s tax year end date. Announcing the review, the office, which provides independent advice to HM Revenue & Customs (HMRC), suggests that aligning the tax ...

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Register for Making Tax Digital for VAT or risk penalties, HMRC warns

May 28, 2021

Businesses who are required to use Making Tax Digital (MTD) for VAT but not registered could face fines of up to £400, it has been warned. It comes after HM Revenue & Customs (HMRC) wrote to 100,000 non-compliant businesses reminding them ...

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Five reasons to set up a Personal Tax Account

May 17, 2021

Taxpayers are being urged to set up personal accounts to monitor their affairs. The Association of Taxation Technicians (ATT) is encouraging taxpayers to set up a Personal Tax Account (PTA). The call is after HM Revenue & Customs (HMRC), renewed their commitment ...

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Work from home tax relief: what employees need to know

May 07, 2021

It was confirmed this April that employees can continue to claim tax relief on work from home costs not reimbursed by employers, but only if they make a new claim for the 2021/22 tax year. Here’s what you and your staff ...

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The ATED return for 2021-22 is due by 30 April 2021

Apr 13, 2021

The Annual Tax on Enveloped Dwellings (ATED) return for 2021 to 31 March 2022, and any tax due for the year, is due by 30 April 2021. What is the ATED? The ATED is a system that came into force on 1 ...

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Could the current tax payment timings change?

Mar 30, 2021

Millions of taxpayers in the UK could face earlier tax payments as part of the Government’s 10-year strategy to build a “trusted, modern tax administration system”. Due to the challenges of the current tax-payment timings, it is considering bringing tax payments ...

Tax