NEWS

Changes to HMRCs guidance includes:Agent authorisation to deal with HMRC: updated to cover agents managing clients CGT on UK property account.Register with HMRC to use an agent services account: updated to include further detail on...

In an unusually fast-moving development, Chancellor Sunak has confirmed that employer-provided coronavirus tests will be exempt from income tax and NICs for the tax year 2020/21.HMRC had recently updated its guidance How to treat certain expenses...

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: CG17290 Updated...

The UK government has proposed the following amendments to the Finance Bill, to be considered by the House of Commons at report stage on 1 and 2 July 2020: Taxation of coronavirus support scheme payments: new...

The Treasury has issued a further Direction under the Coronavirus Act 2020 ss 71 and 76, setting out the details of how the revised CJRS will operate, including flexible furloughing from 1 July onwards until the closure of the CJRS at the end of...

The Corporate Insolvency and Governance Act 2020 received royal assent on 25 June 2020 and introduces flexibility into the insolvency legislation to help businesses continue trading through the coronavirus pandemic. Most of the Act came into force on...

Lump sum payments from the new NHS death-in-service life insurance schemes have been made exempt from income tax. The Coronavirus Life Assurance Scheme (English and Welsh Schemes) (Excluded Benefits for Tax Purposes) Regulations, SI 2020/615, provide...

The maximum income threshold for the tax-free childcare scheme will temporarily be increased to 150,000 (from 100,000) for critical workers for tax year 2020/21 only. The Childcare Payments (Coronavirus and Miscellaneous Amendments)...

The benefit cap earnings threshold is to be based on the level of the national living wage that was in force during the claimants period of employment, rather than the current rate. This is significant, because claimants of UC are exempt from...

Certain payments are to be disregarded in the calculation of an individuals state benefits. The Social Security (Income and Capital) (Miscellaneous Amendments) Regulations, SI 2020/618, make a number of amendments to social security and...