Articles in "Tax"

The deadline for filing your annual ERS (Employment Related Securities) return is 6 July following the end of the tax year.

The Government has announced that it intends to introduce legislation in Finance Bill 2022/23 to provide relief from the Annual Tax on Enveloped Dwellings (ATED) for those companies who make a dwelling available for occupation by refugees under the Homes for Ukraine Scheme. The legislation will have effect from 1 April 2022. A similar relief will be available for Stamp Duty Land Tax (SDLT).

Some tax years draw to a close with the prospect of little change in rates and allowances in the following year, with the result that year-end planning comes down to little more than making sure you have taken advantage of any allowances which will disappear on 5th April.

Following the decision by the Bank of England to increase the base rate, HMRC has confirmed that the late payment interest rate rose a quarter of a percent.

The government must overhaul motoring taxes as it phases out new diesel and petrol vehicles, according to MPs.

HMRC has revealed that more than one million taxpayers filed their late tax returns in February – taking advantage of the extra time to complete their self assessment without facing a penalty.

The requirement to report certain disposals of UK residential property shortly after the disposal, rather than simply in that year’s tax return, came in from 6 April 2020. Initially, the deadline to both file the report and pay any CGT was 30 days from completion. In response to concerns raised by many people, the Chancellor announced in the Autumn 2021 Budget that this would be extended to 60 days for disposals which completed on or after 27 October 2021.

HMRC has reminded self assessment taxpayers to declare any COVID-19 grant payments on their 2020/21 tax return.