Corporate tax news

NIC reliefs set for Freeports

NIC reliefs set for Freeports

Freeport operators will be able to take advantage of a zero rate of secondary national insurance contributions (NICs) for employees, the government has announced. The National Insurance Contributions Bill 2021, which legislates reliefs for those operating in...

Government confirms start date for Plastic Packaging Tax

Government confirms start date for Plastic Packaging Tax

The UK government has confirmed that the new Plastic Packaging Tax (PPT) will come into force on 1 April 2022. The PPT will be charged at a rate of £200 per metric ton of chargeable plastic packaging.   The aim of the tax The plastic packaging tax is designed to...

Fifth SEISS grant will be open to claims from late July

Fifth SEISS grant will be open to claims from late July

HMRC has confirmed that the fifth Self-employment Income Support Scheme (SEISS) grant covering the period May 2021 to September 2021 will open to claims from late July. To be eligible for the grant, an individual must be self-employed or a member of a partnership....

Proposal to extend Capital Gains Tax deadline for divorces

Proposal to extend Capital Gains Tax deadline for divorces

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...

Proposal to extend Capital Gains Tax deadline

Proposal to extend Capital Gains Tax deadline

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...

Making Tax Digital (MTD) for Landlords

Making Tax Digital (MTD) for Landlords

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...