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.
New Late Filing and Late Payment Penalties
The new regime will apply to periods starting 1 April 2022 for VAT and 6 April 2023 for income tax to coincide with the roll-out of MTD. For non-MTD taxpayers submitting ITSA returns the start date will be 6 April 2024.
HMRC guidance on re-importing and re-exporting
HMRC have released guidance about some of the approvals and special procedures that help simplify customs processing and reduce VAT and Customs Duty owed