Millions of taxpayers in the UK could face earlier tax payments as part of the Government’s 10-year strategy to build a “trusted, modern tax administration system”.
Taxpayers should remain vigilant to tax scams “threatening arrest” following a surge in reports, HM Revenue & Customs (HMRC) has warned.
Businesses and individuals have just over a month before the tax year ends on 5 April 2021. Therefore, it is essential to utilise all the tax reliefs and allowances available to minimise your tax liabilities before this date.
The delayed Construction Industry Scheme (CIS) VAT reverse charge will come into effect on 1 March 2021, it has been confirmed.
By Neil Driver, Director at Davis Grant At this point in time, it is looking likely that the Stamp Duty Land Tax (SDLT) holiday will end on 31 March as originally intended, despite calls from many in the property sector to extend this support.
HM Revenue & Customs (HMRC) has warned businesses to watch out for tax scams ahead of the 31 January Self Assessment Deadline.
VAT is complex at the best of times, but the latest guidance on the Brexit transition makes the process of accounting for VAT on imports and services to and from the EU even more difficult, which is why we have summarised the main points for you. Import VAT Goods that move into the UK from […]
New draft legislation has been released by the Government that will look to introduce a PAYE cap on R&D tax credit claims. The cap was first announced in the 2018 Budget to prevent abuse of the R&D tax credit SME (small to medium-sized enterprise) scheme. Under the original proposal, the amount of payable tax credit […]
The temporary £1 million increase to the Annual Investment Allowance (AIA) has now been extended until 1 January 2022 to help businesses invest, the Government has announced. The increase to the AIA, which saw relief rise from £200,000 to £1 million for two years from 1 January 2019, was originally due to end in January […]