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HMRC Confirms Virtual Christmas Party Exemption

3rd December 2020

Virtual Christmas parties will be eligible for the annual function exemption. Section 264 of ITEPA 2003 allows an exemption where an employer hosts an annual event. This doesn’t have to be at Christmas, it could be held at any time of the year, the key here is that it is an annual event and is…
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VAT Reverse Charge: Building and Construction Services

3rd December 2020

From 1st March 2021 the domestic VAT reverse charge must be used for most supplies of building and construction services. The charge applies to standard and reduced-rate VAT services: for individuals or businesses who are registered for VAT in the UK reported within the Construction Industry Scheme What you need to do; Check when you must…
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Next Steps for HMRC’s Plan to Extend Making Tax Digital (MTD)

20th August 2020

On 21 July, the Treasury set out the next steps in its plan to extend Making Tax Digital (MTD) to all businesses and those taxpayers that file self assessment returns. Currently, businesses above the VAT threshold of £85,000 are required to comply with Making Tax Digital for VAT (MTD for VAT). From April 2022, the…
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HMRC’s Internal Manual Has Been updated

23rd January 2020

HMRC updates internal guidelines in midst of IR35 review. While the IR35-acjacent CEST tool has received a direct update, HMRC’s manual shows a number of prospective CEST questions, designed to determine tax status. HMRC’s internal manual has been updated to include roughly 70 questions on employment status. The guide was updated on 17 January, adding…
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Budget 2018 Date Confirmed

28th September 2018

Government will publish its next Budget on Monday 29 October 2018. The Chancellor of the Exchequer, Philip Hammond, has announced that the Budget will take place on 29th October. This will set out the government’s plan to build a stronger, more prosperous economy, building on the recent Spring Statement and last year’s Budget. ———- Original…
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HMRC Small Business Forum

19th April 2018

A new online tax forum and dedicated web-chat service for small businesses and the self-employed has been launched by HMRC. The Small Business Online Forum is a quick and easy way for small businesses to get answers to their tax questions, as well as help with: starting a business support for growing a business – including…
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NI increase for self-employed scrapped by government

16th March 2017

Philip Hammond has ditched plans to increase National Insurance contributions for the self-employed yesterday, in a humiliating U-turn just a week after the measure formed the centrepiece of his first budget. The chancellor signalled the abrupt change of heart in a letter to Conservative MP Andrew Tyrie, the chair of the treasury select committee, following…
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Are you due £432 for the marriage tax allowance?

13th March 2017

Astonishingly only two in five couples are claiming the £220-a-year marriage tax allowance, official figures show, highlighting the failure of the scheme introduced by former prime minister David Cameron. The allowance allows married couples to pass unused tax-free personal allowance between each other. HMRC figures show that of the 4.2m people eligible for the allowance,…
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