Covid-19 Updates

Tax return deadline day is looming. If the ongoing upheaval of coronavirus and a deferred Payment on Account means you won't be able to pay your self assessment tax bill in full by 31 January, you can set up an agreement with HMRC to pay it in instalments. - Read More

The impact of Covid-19 on the UK’s public finances recently led the Treasury Select Committee to launch a new inquiry called ‘Tax after coronavirus’. - Read More

The government has published an overview of its Making Tax Digital scheme, outlining plans to extend the MTD rules for both VAT and Income Tax. - Read More

Following a pause due to the coronavirus pandemic, HMRC is now restarting its tax investigations and is planning to recover payments and issue penalties on incorrect claims made under the Coronavirus Job Retention Scheme (CJRS) and the Self-employed Income Support Scheme (SEISS).  - Read More

IR35 reforms in the private sector are highly unpopular, and so the decision to delay their implementation until April 2021 because of the coronavirus pandemic has come as very welcome news. - Read More

HMRC aims to increase revenue from tax investigations by £4.4bn over the next five years, and will continue to target individuals and small businesses which have proved very lucrative in the past year. - Read More

If you run your own limited company, chances are that you’ll be aware of dividends. But how exactly are dividends taxed, and is it better to take dividends or pay yourself a salary from your company profits? - Read More

When the Chancellor makes his Budget speech on 11 March, will he take on board any of the recent recommendations he's received to simplify Inheritance Tax or even scrap it entirely? - Read More

It was recently announced that the government’s plans to introduce an enormous hike in probate application fees have now been dropped. - Read More

If you undertake work for a large or medium-sized organisation and are paid via your personal service company, it's time to get ready for new off-payroll working rules. - Read More

The Office of Tax Simplification has released two surveys, one for landlords and one for small business owners, to establish if you want to know your tax liabilities. - Read More

There is much confusion surrounding the tax classification of vans. It seems that for benefit in kind purposes, certain vehicles aren't goods vehicles but should be classed as motor cars. - Read More

If you let out or sell a property, there are a couple of tax relief updates and changes due to take place which you should be aware of. - Read More

Succession planning can be the elephant in the room for a family business. John Tooth examines how best to tackle this emotive subject to ensure a successful outcome - Read More

Keeping your tax affairs in order isn't necessarily enough to avoid a tax investigation from HMRC. Many investigations take place randomly, so make sure you know how to deal with one should you come under HMRC's spotlight. - Read More