With the 2021 self-assessment tax return deadline on 31 January, HMRC has been busy reminding taxpayers to declare any Covid-19 grant payments they might have received. This is the first year they need to be…
New Covid-19 business support package
A new support package has been announced to assist businesses impacted by the Covid-19 Omicron variant. Applications are open to the end of February, but many have said the measures don’t go far enough given…
Student loans – normal debt rules do not apply
The issue of student loans weighs heavily on students and their families, and even political parties – remember the Lib Dems? But the name itself has created misunderstanding about how they operate and the best…
Freeports up and running
The first eight Freeport designated tax sites have now opened in Teesside, Humber and Thames. Freeports and their tax sites benefit from various incentives and tax breaks, but it remains uncertain whether they will provide…
Temporary changes to sickness absence rules…………
The government has introduced temporary sickness absence rules, effective 10 December 2021 until January 26th 2022. The new rules provide an exemption the provision of proof of sickness until 28 days of being off work.…
Universal Credit eligibility expands to higher rate taxpayers
Autumn Budget reforms have created a surprising clash of benefits and income tax. The Covid-19 pandemic was the first time many people utilised Universal Credit (UC) for the first time – between February and May…
Cryptoassets tax confusion
HMRC is sending letters to taxpayers who they believe hold cryptoassets, advising them of the potential capital gains tax (CGT) implications and linking to relevant guidance. Many taxpayers will be unaware that simply exchanging one…
Treasury sets aside CGT and IHT change agendas
Tax and Administration Maintenance (TAM) Day is a new phenomenon brought in by the Treasury to try and move away from the traditional all-in-one Budget. Following the first ‘Tax Day’ in March, the end of…
Import VAT confusion continues
The system of postponed VAT accounting for import VAT has been up and running since the start of the year, but there is still a lot of confusion. You may be experiencing some of these…
CGT reporting and payment deadline extended
I've taken a few calls recently, from a number of clients, on CGT on disposal of UK residential property, and although information on this is already in the public domain, here's a brief summary in…