The Welsh Government has announced, from April 2023, new Business Rates qualifying conditions for holiday lets and an increase to the maximum amount of Council Tax which can be charged on second homes. This follows changes to Business Rates criteria for self-catering accommodation previously being announced in England and Scotland.
Bulk filing for late filing penalties back for 2020/21
Some 1.3 million taxpayers are due to receive last filing penalties, for failure to file their returns by 28 February 2022. As last year, HMRC accept bulk appeals, where the failure was due to COVID-19.
Nichola's SME Tax W-update 3 March 2022
Hello,
As Russia's dangerous dictator, Vladimir Putin, continues his violent plans to wipe out the democracy that is Ukraine, all we can do in the UK is to lend support to Ukraine and its people in any way possible. One of the best ways to assist is by making a direct financial donation to the Disasters Emergency Committee (external link). The UK government says it will match our donations, pound for pound up to £20 million.
Nichola's SME Tax W-update 24 February 2022
Hello,
We have a new HMRC Agent update, a new, and maybe controversial HMRC interpretation of the purchase of own shares rules, plus some interesting cases and updates.
New take on POS multiple completion contracts
HMRC have changed their view on the Purchase of Own Shares ‘connection test’: this affects multiple completion contracts.
Nichola's SME Tax W-update 17 February 2022
Hello,
There has been plenty going on this week. We have a new HMRC Employer Bulletin, we take a closer look at the reinterpretation of the Business Asset Disposal Relief (BADR) 'substantial extent' requirement, there is a consultation on post-Brexit customs and we have made some more tax tools.
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