The Treasury has confirmed that the £1 million cap on the Annual Investment Allowance (AIA) is to be extended for an additional year as the government continues to look at ways to stimulate the economy.
The…
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Dec 01, 2020
The Treasury has confirmed that the £1 million cap on the Annual Investment Allowance (AIA) is to be extended for an additional year as the government continues to look at ways to stimulate the economy.
The…
Dec 01, 2020
In a new consultation HMRC has confirmed that Making Tax Digital for corporation tax (MTD for CT) will not be implemented until 2026 'at the earliest'.
The consultation considers how the principles…
Dec 01, 2020
HMRC is warning self assessment taxpayers to be alert to the danger of scammers posing as the tax authority in the lead up to the tax return deadline.
Every year HMRC issues thousands of SMS…
Dec 01, 2020
New company car advisory fuel rates have been published and took effect from 1 December 2020.
The guidance states: 'You can use the previous rates for up to one month from the date the new…
Dec 01, 2020
Increased minimum wage rates have been announced to take effect from 1 April 2021.
The government has announced that the National Living Wage (NLW) will increase by 2.2% from £8.72 to £8.91,…
Dec 01, 2020
Some employers may wish to give a small gift to their employees. As long as the employer meets the relevant conditions, no tax charge will arise on the employee.
A tax exemption is available…
Dec 01, 2020
HMRC has confirmed that they will accept a virtual Christmas party as an event which is capable of falling within the tax exemption rules for annual functions.
The Association of Taxation Technicians…
Dec 01, 2020
It is time to prepare for the end of the Brexit transitional period.
Whilst the United Kingdom officially left the European Union (EU) on 31 January 2020, this prompted the start of an 11-month…
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