Articles in "Tax"

The fourth Self-Employed Income Support Scheme (SEISS) grant is now live and HMRC has set out the penalties for abuse of the scheme.

The government has published over 30 updates, consultations and documents on the UK's first ever Tax Day.

The details of the Finance Bill 2021 have been published by the government.

Changes to the IR35 rules are designed to ensure contractors pay their fair share of tax and national insurance – but the move could be counter-productive, especially in the energy sector, says James Shipp of Lovewell Blake.

HM Revenue & Customs (HMRC) are reminding Self-Assessment taxpayers that they have until 1 April 2021 to pay any outstanding tax liabilities in full for the 2019/20 tax year, or set up an online payment plan, to avoid a 5% late payment penalty charge.

In 2020, the pandemic sparked a ‘race for space’ which saw the average UK house price rise by 7.6% in the year to November 2020. This means that a dwelling previously valued at £465,000 12 months ago could now potentially be worth over £500,000 and give rise to a tax issue under Annual Tax on Enveloped Dwellings (ATED).

HMRC has published a briefing on its approach to the changes to off-payroll working rules, commonly known as IR35, which will be introduced on 6 April 2021.

Following the delivery of the Spring Budget on 3 March 2021, there is a good chance that people will have seen the limited changes as not affecting them a great deal; however, this could in fact have an effect both in the short, and long-term, on tax due.