Significant changes to VAT on compensation payments including retained deposits
Compensation payments normally are treated as outside the scope of VAT. However, European and UK courts have revised VAT treatment in certain circumstances.
Taxflash: Mileage rates – September 2020
Company car users: further changes to tax free fuel rates from 1 September 2020.
Hands up if you remember Making Tax Digital for income tax?
Making Tax Digital for income tax looks to return in the form of a 10 year vision statement, after previously being sidelined.
Review of Capital Gains Tax announced
By open letter on 13 July the Chancellor asked the Office of Tax Simplification to conduct a review of CGT.
Share buy-backs: a tax efficient way to exit your company?
There comes a point for most entrepreneurs, when they decide that the time is right to hand over the reins of the business and enjoy their retirement.
July tax payments: An update on the current position
If you are intending to defer your July 2020 payment, we would expect you to be able to demonstrate that you were struggling to pay, if asked at a later date to do so by HMRC.
July tax payments – do you need to pay them?
On 31 July each year, many individual and trustee taxpayers are used to making an income tax payment on account.
All ‘good’ things must come to an end
Back in March, as part of the Covid-19 measures, HMRC automatically deferred all VAT payments due for the period 20 March 2020 to 30 June 2020, meaning there is no requirement to pay your VAT bill until 31 March 2021.
Importing goods from the EC – changes from 2021
The Government has confirmed that the transition period following the UK’s exit from the EU will not be extended and controls for importing goods will apply from 1 January 2021.
International trade and investment – establishing a presence in an overseas jurisdiction
There is little doubt that COVID-19 is having an impact on economic activity, but the Organisation for Economic Co-operation and Development (OECD) is keen to encourage international trade in what it describes as 'an unprecedented global health crisis'. Tax partner, Helen Cowley, shares her second video on international trade and investment.