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‘Making Tax Digital’ delayed for two more years

20th December 2022

A big overhaul to how millions of self-employed people and landlords report income tax in the UK has been delayed for the third time. Self-employed individuals and landlords will have more time to prepare for Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA), following a government announcement on 19th December 2022. See GOV.UK…
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Making Tax Digital: Our Guide

28th October 2021

April 2022 sees the final phase of Making Tax Digital (MTD) for VAT. But that’s just the tip of the iceberg. MTD for income tax (MTD ITSA) comes next, and implementation is likely to be altogether more challenging. And then there’s corporation tax… MTD BASICS MTD requires individuals and businesses to: Keep and preserve certain…
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New phishing scam landing in inboxes

30th April 2021

SEISS scam dupes traders with fake HMRC email Taxpayers should be warned of a new phishing scam landing in inboxes as the fourth self-employed income support scheme grant is now open for claims. To the untrained eye, the official-looking Gov.uk logo, typeface and format is convincing enough to fool a self-employed trader to hand over…
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Changes due to IR35 from Spring 2021

19th February 2021

The IR35 rule was introduced in 2000 to equalise the tax position between employees and individuals that provide their services, usually using a company (often called a Personal Services Company — PSC). The IR35 legislation aims to ensure a person acting as a contractor pays the same tax and national insurance as an employee if…
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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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