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HMRC countdown: file your tax return

With less than 100 days until the self assessment tax return deadline of 31 January 2019, HMRC is urging taxpayers to complete their tax returns early in order to avoid the last minute rush. The deadl ...

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Budget 2018 Personal Tax

The personal allowance The personal allowance is currently £11,850. The personal allowance for 2019/20 will be £12,500. The marriage allowance The marriage allowance permits certain couples, where nei ...

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Budget 2018 Business Tax

Making Tax Digital for Business: VAT HMRC is phasing in its landmark Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system. Regulations have no ...

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Budget 2018 Employment Taxes

Off-payroll working in the private sector The changes to IR35 that came into effect in April 2017 for the public sector will be extended to the private sector from April 2020. Responsibility for opera ...

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Budget 2018 Capital Taxes

Capital gains tax (CGT) rates The current rates of CGT are 10%, to the extent that any income tax basic rate band is available, and 20% thereafter. Higher rates of 18% and 28% apply for certain gains; ...

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Budget 2018 Other matters

Penalties for late submission of tax returns Taxpayers are required to submit tax returns by specified dates. When taxpayers submit their returns late they generally incur a penalty. Draft legislation ...

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Making Tax Digital for VAT

HMRC has published further information on Making Tax Digital for VAT (MTDfV). The VAT notice sets out some further details of the MTDfV regime, which will ultimately require taxpayers to move to a ful ...

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