Income Tax Archives - Care Accountancy

March 15, 2021

Business News Capital Gain Tax Coronavirus News Corporation Tax HMRC News Income Tax Inheritance Tax Loan Schemes Property Tax Stamp Duty Tax Investigation VAT0

Finance Bill 2021: Details Published

The government has published the details of the Finance Bill 2021 on 11 March 2021. The Bill highlights the important law measures(announced in the recent 2021 Budget) set to come into legislation. Chancellor Rishi Sunak announced the following measures in his budget speech: an extension of the stamp duty holiday in England a super-deduction capital...

by Asma

March 3, 2021

Business News Capital Gain Tax Corporation Tax Income Tax Inheritance Tax News Property Tax Tax Investigation VAT0

Budget 2021: Major highlights at a glance

Chancellor Rishi Sunak unveiled the contents of his Budget 2021 in the House of Commons on 3rd March. He announced the UK government’s tax and spending plans for the year ahead. However, the focus on helping business and jobs through the pandemic and supporting the UK’s long-term economic recovery will remain unchanged. Here is a...

by Asma

January 29, 2021

HMRC News Income Tax Tax Investigation0

Self assessment deadline extended until 28 February

HMRC has extended the self assessment deadline by a month until 28 February. It is a great relief for the customers struggling due to Coronavirus pandemic. Self Assessment customers will not receive a penalty for filing their online tax return late, HMRC announced on 25 January. Already more than 8.9 million taxpayers have filed their...

by Asma

January 13, 2021

Business News Corporation Tax HMRC News Income Tax Property Tax Tax Investigation0

What if you can’t pay your tax bill on time?

Contact HM Revenue and Customs (HMRC) as soon as possible if you have missed your tax bill payment. How you contact HMRC depends on what you need to pay. You have to pay interest if you pay late. You may avoid penalties by contacting HMRC as soon as possible. If you cannot pay because of...

by Asma

January 4, 2021

HMRC News Income Tax Tax Investigation0

2,700 tax returns filed on Christmas Day

HMRC’s new data has shown that 2,700 people used Christmas day to file their tax returns. Many taxpayers chose to send the documents in just after lunchtime on 25 December. The peak time for completing tax returns was between 2 pm to 2.59 pm. More than 200 customers pressed ‘submit’ on their online form in...

by Asma

November 12, 2020

Capital Gain Tax HMRC News Income Tax0

Changes to Capital Gains Tax (CGT)

The Office of Tax Simplification has revealed a new report on the policy design and core principles of CGT. The OTS has suggested some reforms for simplifying the design of Capital Gains Tax (CGT). In July 2020, the Chancellor asked the OTS to carry out a review of Capital Gains Tax to identify: the opportunities...

by Asma

September 3, 2020

Capital Gain Tax Coronavirus News HMRC News Income Tax Uncategorized0

UK Tax rises: Pay the cost of COVID-19

The leading economists have warned that the UK will likely face “substantial” tax rises in the coming years, as the government seeks to pay for the cost of its COVID-19 response and public services. Some top economists told parliament’s Treasury Select Committee on Tuesday that tax rises were likely, although they said increases would likely...

by Asma

August 28, 2020

Business News Coronavirus News Corporation Tax HMRC News Income Tax0

Repayments of Corporation Tax: Updated Guidance

HMRC have issued an update to their guidance on repayments of corporation tax. They have now acknowledged that, in exceptional circumstances, claims for repayments of corporation tax for prior periods based on anticipated losses before the current accounting period has concluded will be considered. Angela Clegg, technical manager in the ICAEW tax faculty, which had raised...

by Asma

July 25, 2020

Business News HMRC News Income Tax Tax Investigation VAT0

UK Tax System: OTS recommended measures to simplify VAT

The Office of Tax Simplification (OTS) has outlined a range of measures intended to help simplify the UK tax system. The OTS stated that the UK tax has become ‘highly complex’, and has ‘not kept pace with changes in society’. As such, in its report, the OTS has recommended 23 measures intended to simplify VAT....

by Asma

June 28, 2020

Business News Income Tax Payroll0

Director’s Remuneration

There are tough times where tough choices are being made by the businesses. Many directors have been deferring or waiving some or all of their remuneration. Few things to consider: You have to irretrievably give up your rights to the remuneration prior to the payment date. Employers must remember that the payment of a salary,...

Older Posts

Income Tax Archives - Care Accountancy

Finance Bill 2021: Details Published

Budget 2021: Major highlights at a glance

Self assessment deadline extended until 28 February

What if you can’t pay your tax bill on time?

2,700 tax returns filed on Christmas Day

Changes to Capital Gains Tax (CGT)

UK Tax rises: Pay the cost of COVID-19

Repayments of Corporation Tax: Updated Guidance

UK Tax System: OTS recommended measures to simplify VAT

Director’s Remuneration

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