News

UK launches points-based post-Brexit immigration system
04 December 2020

The UK’s new points-based immigration is now live to help businesses as they prepare for the end of the Brexit transition period on 31 December 2020. The new system outlines who can work in the UK once the free movement agreement with the EU ends on 1 January 2021. There are several new Immigration categories under the new...
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Business Secretary writes to professional services sector ahead of end of Brexit transition period
04 December 2020

The Business Secretary has written to the professional and business services sector warning them about the actions they need to take to prepare for the end of the Brexit transition period. With just a month to go, the letter, titled Are You Ready For New Rules For Business With The EU, sets out the key steps businesses in industries...
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HMRC updates Statutory Residence Test due to COVID-19
04 December 2020

New guidance has been issued by HM Revenue & Customs (HMRC) which alters how the Statutory Residence Test (SRT) for tax will operate as a result of the COVID-19 pandemic. The latest COVID-19 guidance is likely to affect taxpayers’ ability to move freely into and out of the UK, which could affect their status under the SRT.
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Scammers are targeting Self-Assessment taxpayers, says HMRC
03 December 2020

HM Revenue & Customs (HMRC) is calling on Self-Assessment taxpayers to keep a look out for scammers posing as the tax authority. HMRC has said that scammers are using calls, emails and texts to contact individuals in the run-up to the tax return deadline on 31 January 2021. During the last year, HMRC responded to more than...
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Eat Out to Help Out compliance checks underway
03 December 2020

More than 84,700 food and drink establishments took part in the Eat Out to Help Out (EOTHO) scheme, according to the Treasury’s latest figures. This resulted in 130,000 claims at the end of the scheme and is estimated to have cost the Treasury around £522 million. The claims system was set up quickly by HM Revenue & Customs (HMRC)...
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Businesses face legal action over unpaid business rates
03 December 2020

Local authorities have begun to take legal action against businesses that fail to pay their business rates bills. A new report from property consultancy Colliers has shown that an increasing number of businesses have begun to receive letters demanding payment and/or a court summons. In response, many businesses have started...
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HMRC publishes consultation on MTD for Corporation Tax
03 December 2020

A new consultation has been published by HM Revenue & Customs (HMRC) which explores how the core principles of Making Tax Digital (MTD) can be applied to Corporation Tax (CT). Within the new consultation document, HMRC has made it clear that MTD for CT is a means of tackling the underpayment of tax, especially among SMEs, where HMRC...
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HM Revenue & Customs issues Capital Gains Tax reminder
03 December 2020

HM Revenue & Customs (HMRC) has issued a reminder of recent changes to Capital Gains Tax (CGT) to taxpayers and the impending deadline for reporting profits from sales of residential property in the 2019-20 tax year. Various changes to how CGT is reported and paid came into effect at the start of the current tax year on 6 April 2020.
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Virtual Christmas parties eligible for £150 annual function exemption
03 December 2020

HM Revenue & Customs (HMRC) has confirmed that virtual Christmas parties will be eligible for the £150 annual function exemption that employers often put towards in-person festivities at this time of year. Typically, employers can make use of the exemption for a Christmas party, as long as it is open to all employees...
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Grandparents set to increase gifting following pandemic and families set to inherit more than expected
03 December 2020

A pair of studies have revealed that UK grandparents are reconsidering their plans following the Coronavirus pandemic, which may mean that many families are set to inherit more than they expected to. A survey of 2,006 grandparents, carried out by an investment firm, found one in seven are reassessing how they will pass on...
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