NEWS

HMRC has published new guidance on how to treat certain expenses and benefits provided to employees during coronavirus. The guidance covers a number of benefits in kind and exemptions, including: living accommodation (including provision relating to...

HMRC has updated its guidance Claiming capital allowances for structures and buildings to reflect the increase in the rate of the allowance to 3% from April 2020, and the consequent reduction in the writing-down period to 33 and 1/3 years (3%...

The additional dwelling supplement (ADS) surcharge on purchases of second homes in Scotland is repayable to taxpayers where they sell their previous main residence within 18 months of buying their new home. Responding to concerns raised around the...

The CIOT has commented on clause 72 of Finance Bill 2020 which provides that additions of assets by individuals domiciled in the UK to trusts made when they were non-domiciled cannot be excluded property and are therefore within the scope of...

Following the proposal to reduce the lifetime ISA (LISA) withdrawal charge from 25% to 20%, HMRCs updated guidance confirms that LISA managers can apply the 20% withdrawal charge immediately, if their systems allow it. HMRC will aim to update...

Temporary changes have been made to the eligibility criteria for tax-free childcare and 30 hours free childcare, during coronavirus. HMRCs guidance Check if you can get Tax-Free Childcare and 30 hours free childcare during coronavirus...

The CIOT has published a number of questions and answers for duty deferment account holders who are facing severe financial difficulties as a result of Covid-19 and are unable to make payment of deferred customs duty and import VAT due on 15 May. The...

The European Commission has proposed extending a number of deadlines relating to the exchange of information under the Directive for Administrative Cooperation (2011/16/EU), deferring exchange of information reporting between member states for three...

In response to the Covid-19 pandemic, the European Commission has also proposed to postpone the entry into application of the VAT e-commerce package by six months, to apply from 1 July 2021 rather than from 1 January 2021.​ The VAT e-commerce package...

HMRC has updated various guidance notes to confirm that failure by a taxpayer to meet a filing or payment deadline due to Covid-19 will be accepted as a reasonable excuse, provided the taxpayer remedies the failure as soon as possible.HMRC has also...