NEWS

The European Commission has launched a consultation on plans to reform the VAT rules for financial and insurance services, following the closure of its ‘roadmap’ feedback period in November 2020. The consultation seeks to address complexities in the...

HMRC has updated the following guidance on accounting for import VAT when businesses are not aware of the full customs value of goods and when using a third party to import goods: Complete your VAT Return to account for import VAT: two new sections...

HMRC has updated Excise Notice 143 (at section 2.3) to reflect the new rules on consignments not exceeding £135 in value, and the abolition of low-value consignment relief. For imports of goods from outside the UK in consignments not exceeding £135...

The Tax Credits, Child Benefit and Guardian’s Allowance Up-rating Regulations, SI 2021/156 set out revised annual rates and thresholds for child tax credit and working tax credit with effect from 6 April 2021. ...

The government has launched a new £20m SME Brexit support fund, to help SMEs adjust to the new customs and VAT rules which apply when trading with the EU. The fund will provide grants of up to £2,000 per business which can be used to cover training...

HMRC has published an issue briefing to explain the approach that it will take for new compliance activity in relation to the changes to the off-payroll working rules from 6 April 2021 for large and medium-sized organisations in the private sector....

The Treasury has confirmed in a written statement that the van benefit charge and fuel benefit charges for cars and vans will be uprated by the consumer price index from 6 April 2021, as follows: the van benefit charge will increase from £3,490 to...

HMRC’s updated guidance National Insurance for workers from the UK working in the EEA or Switzerland and Social security contributions for workers coming to the UK from the EEA or Switzerland confirms that EU member states have opted in to apply the...

HMRC has published new guidance National Insurance contributions relief for employers who hire veterans on the NICs relief available for employers who hire veterans on civilian employment after leaving the regular armed forces. The relief will be...

The Social Security (Contributions) (Rates, Limits and Thresholds Amendments and National Insurance Funds Payments) Regulations, SI 2021/157, set out the following NICs rates, limits and thresholds from 6 April 2021: Class 1: primary threshold...