The government has published over 30 updates, consultations and documents on the UK's first ever Tax Day. The announcements, which would traditionally be published at Budget, have been released later to allow for scrutiny from stakeholders. It was announced that HMRC will tighten rules to force holiday let landlords to prove they have made a realistic effort to rent propertie ...

The government is to extend business rates relief with a £1.5 billion fund targeted at those businesses unable to benefit from the current COVID-19 support. Retail, hospitality and leisure businesses have not been paying any rates during the pandemic, as part of a 15 month-long relief which runs to the end of June this year. However, many businesses ineligible for reliefs hav ...

HMRC has published a briefing on its approach to the changes to off-payroll working rules, commonly known as IR35, which will be introduced on 6 April 2021. Reiterating its advice from last year, HMRC has confirmed that it will not issue penalties for inaccuracies in the first 12 months of the regime, unless there is evidence of deliberate non-compliance. HMRC also confirmed ...

This new piece of legislation which received Royal Assent on 25 June 2020 and the provisions it contains provide an extension to the deadline for filing accounts and certain other documents at Companies House. As well as these measures the Act also included a temporary move allowing greater flexibility for the holding of company meetings that would be relevant for those charit ...

In January this year legislation came into force to incorporate the EU’s Fifth Money laundering Directive into UK law, and expanded the scope of the Trust Registration Service (TRS) by requiring all UK some non-EU resident express trusts to register with the service. At the time it was thought that charitable trusts would fall within this definition and would be required to reg ...

The Budget announcements confirmed that the fourth SEISS grant will be set at 80% of 3 months’ average trading profits, paid out in a single instalment, capped at £7,500. The fourth grant will take into account 2019/20 tax returns and will be open to those taxpayers who became self-employed during the 2019/20 tax year. The previous eligibility criteria remains unchanged. Eligi ...

Charities will often use publications to inform the public about their work and the area in which they operate, and increasingly in an electronic format rather than physical form. Charities will also try to generate extra funds in this way to fund their charitable activities. Since 1 May 2020 the supply of certain e-publications became zero-rated, mirroring the treatment of mo ...

The Confederation of British Industry (CBI) has urged the government to provide more financial assistance to businesses affected by the coronavirus (COVID-19) pandemic ahead of the Budget on 3 March 2021. The business group has outlined support measures required to help protect UK businesses through the spring. It has called for: an extension of the Coronavirus Job Retentio ...

The VAT treatment of advertising expenditure is an area where charities receive special treatment as unlike commercial entities the supply of advertising to a charity is zero-rated, which given that many charities are not registered for VAT themselves and therefore unable to recover input tax, can result in a significant cost saving. The means by which charities conduct their ...

HMRC has announced, Self assessment taxpayers will not be charged a 5% late payment penalty if they pay their tax or set up a payment plan by 1 April. The payment deadline for self assessment is 31 January and interest is charged from 1 February on any amounts outstanding. Normally, a 5% late payment penalty is also charged on any unpaid tax that is still outstanding on 3 Mar ...