Over the last couple of weeks HM Revenue & Customs (HMRC) have started to issue a number of nudge letters. We have seen five new campaigns covering: Investment income Benefits in kind Employment income and pensions Annual tax on enveloped dwellings Deferred consideration on business disposals Capital Gains Tax on disposal of property Persons of significant control of […]

At the start of the pandemic, many employees were required to start working at home. Employers can pay employees £6 per week (£26 per month for monthly paid employees) tax free towards the increased costs due to working from home, for example gas and electricity costs. Alternatively, employees can claim income tax relief for the increased costs.

HMRC increasingly requires individuals to have a Personal Tax Account (PTA), for example to report capital gains on residential property or to claim a grant under the Self Employment Income Support Scheme.

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It’s been a difficult year for charities; with donor giving levels down and many fundraising activities cancelled, now is the time to ensure you are getting the most out of your charity’s Gift Aid claim.

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The Autumn 2020 Budget, expected in November, has been cancelled, with a statement from the Treasury stating that “now is not the right time to outline long-term plans – people want to see us focused on the here and now.” Assuming there will now not be a Budget until spring next year, we assume that any tax increases have been deferred until then: the Chancellor’s focus remains, for now, on providing support to individuals and businesses through the continuing COVID-19 uncertainty.