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MTD and Digital Records

HMRC has clarified that records that are not required to complete a VAT return (or are not specified in VAT Notice 200/22) do not need to be kept in functional compatible software. The VAT (Amendment) Regulations contain the provisions with regard to recording and keeping of information in electronic form: 1. The name of the[…] Read more »

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Budget 2018 – Changes to key duties [Infographic]

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Budget 2018 – What will money be invested in? [Infographic]

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Key changes affecting your personal taxes in Budget 2018 [Infographic]

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Budget 2018: a summary of key points

The end to austerity takes shape   Despite widespread predictions of potential tax rises and relief cuts, the Chancellor was able to deliver a Budget, on the back of the latest Office for Budget Responsibility forecasts, which continued the Government’s end of austerity message. The Chancellor sought to throw a lifeline to the high street[…] Read more »

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Still time to settle loan schemes with HMRC, but be quick!

The deadline for submitting loan scheme particulars passed at the end of September 2018. However, HMRC has confirmed in their latest April 2019 Loan Charge guidance, there is still time to reach an agreed settlement and thereby avoid the 2019 charge – this is potentially relevant for ALL EBTs, EFRBS, Contractor Loans and all other[…] Read more »

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A lightbulb moment (almost) for HMRC on electric cars

With its recently published advisory mileage rates for electric company cars, HMRC have plugged (sorry!) what was an otherwise gap in their advisory fuel reimbursement rates for employees who use their company cars but who are personally responsible for the fuel costs (or in this context, for the costs of charging their electric car). Sitting[…] Read more »

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New Capital Gains Tax for overseas investors in UK real estate soon coming into effect

If you have not heard about it yet, earlier this year the UK government has released draft legislation regarding its proposals to extend capital tax gains (CGT) to include all gains arising to non-UK residents from the sale of land and property in the UK. This is to be applied from April 2019, little more[…] Read more »

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Eyes on the Horizon

We have entered the 2018/19 tax year with, for the first time in years, no new tax changes. This new, and much more relaxed, state of affairs was introduced by the Chancellor, who used his Spring Statement to review forecasts and announce consultations. With the clock ticking on Brexit negotiations, and two full Budgets delivered[…] Read more »

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Important Enterprise Management Incentive (EMI) Announcement

On 4th April 2018 HM Revenue & Customs (HMRC) issued an important but unexpected bulletin regarding the Enterprise Management Incentive (“EMI”) scheme. The bulletin advises that: EU State Aid approval for the EMI scheme will expire on 6 April 2018. The European Commission has the UK Government’s most recent application for State Aid approval in[…] Read more »

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