From 6 April 2020, where CGT is due on the disposal of a UK residential property by a UK resident, a new standalone online return will need to be filed with HMRC, together with payment on account of CGT within 30 days of the date of completion of the transaction.
When undertaking inheritance tax planning thoughts will often turn to the gifting of assets to younger generations. When making gifts of (most non-cash) assets there are usually two principal tax considerations.
New rules for the private sector on off-payroll working were intended to be effective from 6 April 2020, but due to COVID-19, the Government has postponed this until 6 April 2021.
Marriage Allowance involves the transfer of 10% of the personal allowance of the person whose income falls within the personal allowance to their spouse.
Trivial benefits are best described as ‘token gifts’ given by a company to their employees. Trivial benefits can be advantageous to both employees and employers if used correctly.
Premier league clubs spent over £230m in the January 2020 transfer window, surpassing last year’s total of £180m, so it is safe to safe that there is no shortage of money among footballers.
An afternoon trawling through the tax relevant aspects of the Budget reveals much more than could be gleaned from listening to the live version. We’ve picked out a Tax Top 5 that we think will interest our client base.
In today’s Budget the Chancellor announced that supplies of digital copies of specified publications will no longer be subject to VAT from the end of 2020. This follows (although may be unrelated to) a December 2019 tribunal loss for HMRC who have been granted leave to appeal.
Our experts from around the UK watched the 2020 Budget announcement and here are some of their immediate reactions to some of the proposals.
The Government has announced that in the situation of coronavirus, Statutory Sick Pay is available from the first day of ‘self-isolation’.