NEWS

Statement of Practice SP 1/2020 confirms that HMRC will automatically accept late elections to spread outstanding disguised remuneration loan balances over three tax years, where the election is made on or before 31 December 2020 (rather than 30...

The Treasury has issued a further Direction under the Coronavirus Act 2020 ss 71 and 76, modifying and extending the effect of the Self-Employment Income Support Scheme (SEISS) to reflect the latest changes, covering the period from 1 November 2020...

HMRC has made a number of changes to its collection of guidance on the coronavirus job retention scheme (CJRS). In relation to meeting (or missing) claim deadlines, HMRC has added new examples of reasonable excuse which it may accept as having...

HMRCs guidance HS275 Entrepreneurs Relief (2020) has been updated to cover anti-forestalling rules for share exchanges and reorganisations taking place between 6 April 2019 and 10 March 2020 and where an election to disapply the normal...

HMRC guidance HS295 Relief for gifts and similar transactions on how gifts are dealt with for capital gains tax purposes confirms that, until further notice, taxpayers can complete the hold-over relief claim form using digital signatures,...

HMRC has updated its guidance on the payment of VAT deferred due to coronavirus to cover the new opt-in payment scheme that will run from early 2021. Businesses which deferred VAT between 20 March and 30 June 2020 will be able to:pay the deferred VAT...

The Value Added Tax (Disclosure of Information Relating to VAT Registration) (Appointed Day) (EU Exit) Regulations, SI 2020/1333 appoint 1 December 2020 as the day on which the Value Added Tax (Disclosure of Information Relating to VAT Registration)...

The Value Added Tax (Miscellaneous Amendments to Acts of Parliament) (EU Exit) Regulations, SI 2020/1312, will preserve the VAT zero-rating of supplies of the handling of qualifying aircraft at non-customs and excise airports under VATA 1994 Sch 8...

Revenue Customs Brief 18/2020 clarifies HMRCs policy on the VAT treatment of school holiday clubs. In essence, where the predominant element of the holiday club is the provision of childcare rather than activities provided to the...

In October 2020, HMRC issued a policy paper Accounting for VAT on goods moving between Great Britain and Northern Ireland from 1 January 2021. In relation to VAT margin schemes, the paper suggests that changes after the end of the...