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Tax Tips and News

  • MTD update

    Newsletter issue - July 2018.HMRC's pilot of Making Tax Digital (MTD) for income tax has been extended and is now able to accept quarterly updates from individual landlords with simple tax affairs. Agents can also sign up clients to pilot. The latest extension means that certain taxpayers will be able to opt out of the…Read More

  • EU mandatory tax disclosure rules take effect

    Newsletter issue - July 2018.HMRC have released interim guidance for agents on the new EU Mandatory Disclosure Rules and new reporting requirements for intermediaries, which apply from June 2018. Under the new mandatory EU tax disclosure rules, information will be exchanged between member states on a quarterly basis. Intermediaries will first have to report by…Read More

  • CGT payment date under consultation

    Newsletter issue - July 2018.The Association of Taxation Technicians (ATT) is warning that owners of second homes and buy-to-let (BTL) landlords may face a much shorter period in which to pay any capital gains tax (CGT) due on property sales from April 2020. Where CGT is due, a disposal is normally reported to HMRC in…Read More

  • HMRC continue to face issues with TRS

    Newsletter issue - July 2018.HMRC's new Trusts Register is designed to provide a single point of access for trustees and their agents to register and update their records online, replacing the paper 41G(Trust) form (which was withdrawn from April 2017) and the ad hoc process for trustees to notify changes in their circumstances. Initially, new…Read More

  • July questions and answers

    Newsletter issue - July 2018. Q. I am a company director and usually work from an office in London. However, I will shortly be relocating to France for a couple of months and will be working from there. Will I be able to claim travel expenses whilst I'm abroad? A. Whether or not you will…Read More

  • July key tax dates

    Newsletter issue - July 2018.5 - Deadline for PAYE settlement agreement for 2017/18 6 - Deadline for 2017/18 forms P11D and P11D(b) to be submitted and copies of P11D to be issued to relevant employees Deadline for employers to report share incentives for 2017/18 14 - Return and Payment of CT61 tax due for quarter…Read More

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