A report published by the Office of Tax Simplification (OTS) has recommended extending the deadline by which divorcing couples are able to claim spousal exemption on Capital Gains Tax when dividing their assets. Married couples or civil partners can transfer assets...
The Office of Tax Simplification (OTS) has recommended that the government double the Capital Gains Tax (CGT) reporting and payment deadline for disposals of UK residential property to 60 days. Rules introduced in April 2020 mean that a UK resident disposing of UK...
New tax obligations from April 2023 From 6 April 2023, significant changes will be made to the Self-Assessment reporting system for landlords with gross rental income above £10,000 per tax year. Bringing landlords within the scope of MTD is part of HMRC’s plan to...
New company car advisory fuel rates have been published which take effect from 1 June 2021. The rates have increased by 1p per mile for petrol cars and also for diesel cars with an engine size over 2000cc to reflect a slight increase in fuel prices. HMRC reviews the...
The Chancellor has announced further support for the Self-Employed, by making a fourth and fifth grant available under the Self-Employment Income Support Scheme (SEISS). The fourth grant, covering the period February to April 2021 will be worth 80% of average profits...
To ensure the continuation of fairness HMRC has decided to implement an accelerated process when it comes to VAT Partial Exemptions. This accelerated process will allow businesses to request changes to their VAT Partial Exemption methods due to Covid-19. To submit a...
