SME Tax News

HM Treasury has published ‘VAT registration threshold: Summary of responses’ and have confirmed that the turnover threshold will remain fixed until April 2022.

HM Treasury has published ‘Taxation of self-funded work-related training: summary of responses’ and has decided not to extend the tax relief available.

Budget 2018: the chancellor has announced measures to ensure that taxes paid by customers and employees to companies going into insolvency are protected, by changing unsecured creditor priorities and making directors liable for company taxes in certain circumstances.

The Cryptoassets Taskforce has published its final report. The 'Cryptoassets Taskforce Final report' lays out the UK’s policy and regulatory approach to cryptoassets and distributed ledger technology in financial services. It did not cover tax.

 Budget 2018: the chancellor announced that the UK will proceed with a Digital Services Tax from April 2020.

Budget 2018: the chancellor has announced measures to ensure that the Employers' NIC Allowance will be restricted to smaller businesses only.

Budget 2018: the chancellor has announced a reduction of rate of special writing down allowance for capital allowances affecting assets in the special rate pool.

Budget 2018: the chancellor has announced that Income tax, Capital Gains tax and Corporation tax voluntary tax returns are to be put on a statutory basis.

Budget 2018: the chancellor has announced a temporary increase in the Annual Investment Allowance (AIA) to £1million.