NEWS

HMRC has confirmed that self-assessment late-filing penalties will not be issued for returns received by 28 February 2021. Rather than applying the £100 fixed penalty automatically where the 31 January deadline for online returns is missed, with...

The Scottish government’s Budget will be published on 28 January 2021, Finance Secretary Kate Forbes has announced....

HMRC is holding on to millions of pounds in overpaid tax that it should be repaying to members of Eclipse film partnership schemes, according to law firm RPC. In November 2019, the Court of Appeal ordered HMRC to withdraw follower notices and...

This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.Direct taxesManual Page Comments Capital Gains Manual Updated: CG45550 Updated...

In its report HMRC performance 2019/20, the Public Accounts Committee highlights those groups of taxpayers who have received no financial support during the covid-19 pandemic, having fallen outside the terms of the government support schemes. The PAC...

HMRC has updated its guidance Find examples to help you calculate your employees’ wages to add two new examples of how to calculate employees’ wages if they are paid a fixed annual amount....

In representations submitted in advance of the Budget on 3 March 2021, the CIOT has urged the government to undertake consultations in relation to the taxation of property income, capital gains tax and corporation tax, to support taxpayers and...

The CIOT has published its response to the draft legislation for Finance Bill 2021 on the hybrid and other mismatches regime for corporation tax.Following up its previous response to the consultation on hybrid and other mismatches in 2020, the CIOT...

HMRC has updated its guidance Changes to accounting for VAT for Northern Ireland and Great Britain from 1 January 2021 covering the sale of goods from Great Britain to an EU member state via Northern Ireland. It makes clear that the VAT treatment...

Following concerns expressed by second-hand car dealers in Northern Ireland regarding the non-application of the second-hand car VAT margin scheme in respect of motor cars moved from Great Britain to Northern Ireland, the Chancellor of the Duchy of...