Check which expenses are taxable if your employee works from home due to coronavirus
HMRC recently updated guidance on how employees can no longer be furloughed using the Coronavirus Job Retention Scheme. The scheme ended on 30 September 2021.
Government Postpone Making Tax Digital for Income Tax to 2024/25
Having listened to stakeholder feedback from businesses and the accounting profession, the government have announced that they are postponing Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) a year later than planned. Now, the government is introducing Making Tax Digital in the tax year beginning in April 2024.
VAT rate reduction for hospitality, holiday accommodation and attractions
The reduced VAT rate of 5% has been extended until 30 September 2021. Following this, an interim rate of 12.5% will be in place for a further six months with the standard rate of 20% returning in April 2022. VAT registered business can check whether their VAT charges...
Have your say on local taxes on second homes and holiday lets
Climate Change Minister Julie James recently launched the Welsh Government consultations on council tax and non-domestic rates. James launched the consultation last month to address the impact of second home ownership seen in some Welsh communities
VAT deferred due to coronavirus
You can now read additional information about the VAT deferral penalty. Businesses could be charged a 5% penalty or interest if they did not pay in full or make an arrangement to pay HMRC by 30 June 2021.
New Policy Papers and Consultations
On 20 July 2021, the Treasury and HMRC issued a number of policy papers and consultations flagging up possible future tax changes. Draft legislation for inclusion in the next Finance Bill has also been issued alongside some of the measures.