SDLT cut creating behind the scenes disruption

SDLT cut creating behind the scenes disruption

During the pandemic, the Chancellor temporarily increased the nil rate band at which Stamp Duty Land Tax (SDLT) became payable. Otherwise referred to as the “Stamp Duty Holiday”, it was hoped this would boost the property and construction industry. Fearing

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Penalties waived for tax returns filed before 28 February

Penalties waived for tax returns filed before 28 February

Penalties will not be issued to taxpayers unable to meet the 31 January self-assessment filing deadline, if they file by 28 February 2021. Regardless of this latest announcement, those who can meet the 31 January deadline are encouraged to do

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Beware undisclosed property income!

Beware undisclosed property income!

Undisclosed property income has long been on HMRC’s radar and its data sharing system has made it easier to pursue those taxpayers at fault. Last month, Reuters reported on an investigation into the UK arm of Airbnb, conducted by HMRC,

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Time to Pay arrangements & Coronavirus

Time to Pay arrangements & Coronavirus

Throughout the pandemic, flexible Time to Pay Arrangements (TTPA’s) have been available to taxpayers struggling to meet their liabilities. The arrangements grant taxpayers additional time to pay the tax that they owe. Consequently, the ‘debt’ will not be pursued as

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‘Winter Economy Plan’ unveiled as Budget is scrapped

‘Winter Economy Plan’ unveiled as Budget is scrapped

Last month, the Chancellor unveiled his ‘Winter Economy Plan’ after scrapping plans to deliver an Autumn Budget this year. With ‘difficult winter months’ ahead, Rishi Sunak announced a handful of new business support measures. The hope, is that these will

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CJRS compliance letters issued by HMRC

CJRS compliance letters issued by HMRC

HM Revenue & Customs (HMRC) has been writing to certain employers about issues with Coronavirus Job Retention Scheme (CJRS) compliance. Its focus is on those who have knowingly put forward fraudulent claims and less so on those who have made

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Taxable expenses and benefits guidance updated ahead of P11D deadline

Taxable expenses and benefits guidance updated ahead of P11D deadline

Ahead of the P11D and P11D(b) deadline on 6 July, and in light of Coronavirus, the Government has updated its taxable expenses and benefits guidance. If you provided benefits in kind or non-exempt expenses to employees during the 2019/20 tax

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