There has been a lot of speculation in the Press that the Chancellor may introduce radical changes to capital gains tax to start to repay the substant...
Reporting property gains within 30 days
Since 6 April 2020 where UK residential property is disposed of, the resulting capital gain needs to be reported and the capital gains tax paid within...
Changes to CJRS furlough claims
Furlough changes: The government has been paying the wages of more than nine million furloughed workers as part of the coronavirus job retention schem...
Interaction with VAT flat rate scheme
Small businesses with turnover below £150,000 may join the VAT flat rate scheme which makes their VAT accounting much simpler as they merely pay HMRC...
VAT treatment of deposits
It is fairly common, particularly in the summer holidays, to pay deposits when booking a hotel or self-catering accommodation but how should the dep...
High income child benefit charges not valued
A recent tax tribunal has ruled against HMRC who were seeking to raise tax assessments for the High Income Child Benefit Charge (HICBC) for earlier ye...
What does the 5% temporary VAT rate apply to?
The temporary 5% rate applies to the following supplies, but is not an exhaustive list: Catering, including hot takeaway food Accommodation in hot...
HMRC may allow tax refunds for anticipated company losses
HMRC have recently announced that they may allow limited companies to make claims for loss relief and tax refunds even though the current accounting p...
Changes to the Coronavirus Job Retention Scheme
The House of Commons has published a briefing paper, ’FAQs: Coronavirus Job Retention Scheme’ which answers 48 common questions on how the scheme ...