The government’s working from home tax relief has been reviewed due to the coronavirus pandemic. With more people being required to work from home due to local restrictions and national lockdowns, HMRC have updated their system to allow people to claim the entire tax year, regardless of the period of time spent working at home.
In a recent announcement, HMRC have confirmed that Enterprise Management Incentive schemes (EMI) will continue in the UK once the Brexit transition period has ended. The scheme will operate under UK law from 1st January 2021. EMI is a scheme that allows for some companies to offer their employees a share option up to the
During the coronavirus pandemic the government introduced the Stamp Duty Land Tax (SDLT) holiday in England and Northern Ireland for residential properties purchased from 8th July 2020 to 31st March 2021. The reduced rates allow for people to purchase property under the value of £500,000 and pay no SDLT. With SDLT reduced rates set to
Earlier this week the Chancellor, Rishi Sunak, made a statement to the House of Commons to offer support to businesses who are struggling as a result of further restrictions required, due to the coronavirus pandemic. In these challenging times the Chancellor has acknowledged that additional support is required in order to keep people in jobs
HMRC have updated their ‘How to contact HMRC to discuss a time to pay arrangement’ section on their website. New information includes how it may be possible to set up a payment plan online, for a self-assessment tax bill, without contacting HMRC. A payment plan, for a self-assessment bill, can be set up to spread
Stamp Duty Land Tax rates are potentially set to change from 1st April 2021, for non-UK residents. The new rates will see a rise of 2% points higher than applications to purchase made by UK residents. This change will apply to both purchases made on freehold and leasehold property as well as being payable on
HMRC will be migrating their VAT customers from VAT Mainframe on to their Enterprise Tax Management Platform. These changes will take place from March 2021. The new changes do not affect any customers already signed up to Making Tax Digital, as their records are already stored on the Enterprise Tax Management Platform. Any VAT businesses
