Sajid Javid, the chancellor, is planning to scrap promised tax cuts in next month’s budget, according to a report in the Financial Times. Tuesday’s U.K. public-sector borrowing figures showed the budget deficit between April and September totalled £40.3b, 22% higher than the same period last year.
SME Tax News
HMRC have issued a new briefing ‘Reform of off-payroll working rules’ about the extension of the rules to the private sector from April 2020.
A new consultation, 'Supplier Licensing Review: Ongoing requirements and exit arrangements' includes proposals for Britain’s energy suppliers to provide the regulator with 'living wills' and independent financial audits when requested. Ofgem’s recommendations intend to protect customers from failing companies.
Highlights: First-time buyers have until 29 October 2019 to make a claim for repayment. HMRC updates its guidance on 'garden and grounds'. HMRC reviews its anti-avoidance guidance following Project Blue.
Confused, bemused, past caring? What the fuss is all about: what might the eventual Brexit look like? We compare the latest 'deal' with how other countries have structured their relationship with the European Union.
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This time, new VAT announcements, uncertainty over new budget date, capital allowances on shared communal areas, an employer briefing and lots of updated guides.
HMRC have announced that any businesses needing to update particularly complicated or legacy IT systems can apply for an extension to the 2020 deadlines for complying with the digital links requirements under Making Tax Digital for VAT (MVD) .
HMRC have published their Employer Bulletin for October 2019. We summarise the key content for you, with links to our detailed guidance on the topics covered.
The government set out its future plans in the Queen's Speech this week. Due to the current political uncertainties there is no certainty about the progression of 26 bills announced. The legislation was dominated by Brexit-related topics.
In Aozora GMAC v HMRC [2019] EWCA Civ 1643 the Court of Appeal agreed that the taxpayer did not have a legitimate expectation that it could rely on HMRC’s published guidance; the degree of unfairness and detriment suffered from the change in the guidance was not sufficiently high.