Tax

HMRC have recently issued some clarification on IR35 workers entitlement to statutory payments.

The Patent Box regime offers a 10% rate of corporation tax in the UK, on profits derived from patents. However, complex rules have put many off claiming. With a 25% rate of corporation tax on the horizon, is now the time to consider this tax relief?

There was an interesting Upper Tier appeal published recently where the taxpayer was found to have a reasonable excuse against a VAT penalty issued by HMRC. The Tribunal found that after writing to HMRC, the response the taxpayer received was 'not as comprehensive in its answers as it might have been.'

The Trusts Register (TRS) was introduced in 2017 and requires trustees who pay Income Tax, Capital Gains Tax, Inheritance Tax, Stamp Duty Land Tax and Stamp Duty Reserve Tax to register their trust online. For those trustees without tax liabilities, no registration has previously been required. However, under the new rules, some trusts will need to register.

In his Budget statement the Chancellor has confirmed that the reduction in VAT for tourism, leisure and hospitality businesses from 20% to 5% has been extended by six months until 30 September. It will then rise to 12.5% for the following six months before returning to the standard rate of 20% in April 2022.

The latest VAT news from our expert team.

VAT domestic reverse charge in the construction industry will come into force from 1 March 2021. Gillian explains what the reverse charge is and how this will affect all in the supply chain.

We’re asked increasingly about mobile office pods for those working from home. What are the tax consequences for the employer and employee?

Now that we have a Brexit deal in place, what is the Social Security position of employees embarking on a temporary international work assignment from 1 January 2021?

In these unprecedented times, cash flow is likely to become a hot topic and cause for concern for many.