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Agent Update issue 91

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HMRC has published Agent Update issue 91 (December 2021) providing a round-up of recent developments for tax agents and advisers including the following:

  • summary of Covid-19 guidance published by HMRC – including reporting Self-Employment Income Support Scheme (SEISS) grants on taxpayers’ tax returns and declaring grants and payments on company tax returns;
  • reminder of the VAT reverse charge on construction and building services from 1 March 2021, and updates to the VAT Agent viewer which will show whether or not a taxpayer has a direct debit set up;
  • HMRC’s refreshed ‘Tax avoidance – don’t get caught out’ campaign, which is designed to help contractors who are employed through an umbrella company or an agency, or are self-employed, understand their pay arrangements;
  • advice on claiming Veterans’ NIC relief from April 2022;
  • updated guidance for the new plastic packaging tax (PPT) including what businesses must include on a tax return and what other substances need to be considered for multi-material packaging;
  • reminder of the taxpayer and agent related items released on 30 November 2021 as part of Tax Administration and Maintenance day;
  • five most common mistakes around the intangibles regime;
  • inheritance tax reporting requirements – reminder that regulations (SI 2021/1167) coming into force on 1 January 2022 will mean that, for deaths on and after that date, most non-taxpaying estates will no longer have to complete IHT forms where probate or confirmation is required; and
  • Making Tax Digital updates, including:
  • Helping businesses get ready for Making Tax Digital for VAT from 1 April 2022 – from that date all VAT registered businesses will have to follow MTD rules, regardless of turnover; and
  • Change of date for MTD for Income Tax Self-Assessment to 6 April 2024
Issue: 1558
Categories: News