Tax | Deadline looming for end of digital linking for MTD

From 1 April, companies will have to report VAT payments electronically via software to comply with the Making Tax Digital (MTD) for VAT rules, following a year’s delay due to the pandemic

26 Mar 2021

Tax

Making Tax Digital

Tax Compliance

Tax | Non-resident purchasers to pay more SDLT on residential property

From 1 April non-resident property purchasers will have to pay an additional 2% stamp duty land tax charge on purchases, explains Zigurds Kronbergs, specialist tax writer at Croner-i

24 Mar 2021

Tax

Property Tax

Tax Compliance

Tax Planning

Tax | Q&A: taxation of SEISS grants

In our weekly Q&A, Croner Taxwise tax adviser Patrick O’Brien explains the tax position for people and partnerships receiving Self Employment Income Support Scheme (SEISS) grants

23 Mar 2021

Tax

Personal Tax

HMRC

Tax Compliance

Tax | £600m tax avoidance market dominated by online promoters

The tax avoidance market is increasingly dominated by a hard core of specialist online promoters rather than bricks and mortar companies, while accounting firms are rarely involved in the sector now, HMRC has confirmed

23 Mar 2021

Tax

Personal Tax

HMRC

Tax Compliance

Tax | 1 April deadline to set up self assessment payment plans

Self assessment taxpayers have just over a week to pay any outstanding tax liabilities in full or set up an online payment plan for the 2019 to 2020 financial year to avoid incurring penalty charges, HMRC has warned

22 Mar 2021

Tax

Personal Tax

HMRC

Tax Compliance

Tax | Unpaid taxes owed to HMRC trebles to £65bn

The amount of debt owed to HMRC from UK businesses and taxpayers has now trebled to reach £65.5bn from £19.3bn in 2019, as businesses and taxpayers fall behind on payments during lockdown, warns Pinsent Masons

22 Mar 2021

Tax

HMRC

Tax Compliance

Tax | HMRC to accept bulk appeals for late tax returns due to Covid-19

Tax agents and accountants will be able to send bulk appeals against late filing penalties for tax returns filed after 28 February due to Covid-19

19 Mar 2021

Tax

Personal Tax

HMRC

Tax Compliance

Business

Companies

Tax | US tax authority extends filing deadline to 17 May

The US Internal Revenue Service (IRS) has confirmed that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from 15 April to 17 May 2021

18 Mar 2021

Tax

International Tax

Tax Compliance

Tax | Mid-sized businesses not ready for IR35 changes

With just under three weeks to go until the IR35 deadline on 6 April, research from Grant Thornton UK LLP finds that over one in three (38%) mid-sized businesses are not ready for the transition

18 Mar 2021

Tax

Employment Tax

Tax Compliance

Tax | Landlords left out of Chancellor’s super deduction tax break

Landlords have been excluded from the super deduction incentive in corporate tax liabilities at a time when they really need it, warns tax and advisory firm Blick Rothenberg

15 Mar 2021

Tax

Business Tax

Tax Compliance

Budget

Tax | Potential pitfalls of super-deduction capital allowance explained

Agricultural businesses and companies looking to use the new super-deduction capital allowance need to carefully consider their investment options after the Budget introduced several significant tax changes, warns rural accountancy firm Old Mill

10 Mar 2021

Tax

Business Tax

Tax Compliance

Budget

Tax | Penalty regime for VAT returns to be overhauled in 2022

Last week’s Budget included confirmation of a new penalty regime for the late submission and payment of VAT returns, explains Sarah Halsted, national VAT technical officer at RSM

10 Mar 2021

Tax

VAT

HMRC

Tax Compliance

Tax | Filing deadlines: March to June 2021

In our handy guide to tax filing deadlines, we provide an at-a-glance guide to key dates from the introduction of VAT construction industry reverse charge and the deadline for making a Time to Pay arrangement for self-assessment tax due on 31 January 2021 in order to avoid 5% surcharge

9 Mar 2021

Tax

HMRC

Tax Compliance

Tax | Off-payroll working, IR35 and microbusinesses: part 3

The rise of microbusinesses during the pandemic has raised issues about the application of the off-payroll working rules. Michael Paulin, tax barrister, examines potential pitfalls

4 Mar 2021

Tax

Employment Tax

Personal Tax

Tax Compliance

Tax | Brexit: the corporate tax implications

Allan Cinnamon, guest tax writer at Croner-i, analyses the impact of Brexit on the main areas of UK corporate tax law that are derived from EU legislation enacted while the UK was a member of the EU. These laws have been effectively transposed into UK law

3 Mar 2021

Tax

Business Tax

International Tax

Tax Compliance