The Annual Investment Allowance (AIA) for capital allowances was increased to £1,000,000 per annum for expenditure from 1 January 2019 – however, this was only a temporary measure and it is reducing back to £200,000 from 1 January 2021.
Every year, billions of pounds of tax relief goes unclaimed, with businesses missing out on potential savings.
There will be no special settlement terms for those who benefitted from the use of disguised remuneration tax avoidance schemes, it has been confirmed.
The distinction between a “van” and a “car” can have significant implications for tax, particularly concerning how they are treated for benefit in kind purposes – a van would generally have a lower benefit in kind charge than a car.
Making Tax Digital (MTD) will be extended to all VAT-registered businesses from April 2022, it has been confirmed.
HM Revenue & Customs (HMRC) has confirmed that self-employed taxpayers due to make a payment on account can automatically defer the payment until 31 January 2021.
The Government has confirmed that it plans to offer an ‘amnesty’ to employers who have furloughed employees during the COVID-19 crisis without meeting the conditions of the Coronavirus Job Retention Scheme (CJRS) – enabling businesses to repay any sums without
HM Revenue & Customs (HMRC) has confirmed that a 57-year-old man from Solihull in the West Midlands was arrested on 8 July on suspicion of a £495,000 furlough fraud relating to claims from the Coronavirus Job Retention Scheme (CJRS). HMRC
HM Revenue & Customs (HMRC) has confirmed that the reduced rate of VAT will apply to admissions to attractions that are not eligible for cultural VAT exemption.
The temporary VAT cut on personal protective equipment (PPE) will be extended until the end of October, it has been announced.