HMRC publishes guidance on MTD for ITSA for sole traders and landlords

HMRC has published guidance on the Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) requirements for sole traders and landlords.

MTD for ITSA will require businesses and landlords…

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New measures aim to 'break the spell' of fraudsters

New measures aim to 'break the spell' of financial fraudsters by giving payment providers more time, according to draft legislation published by the government.

Until now, payment service…

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Scottish government cuts LBTT to help home buyers

On 15 July, the Scottish government reduced the rate of Land and Buildings Transaction Tax (LBTT) following a similar reduction to the rate of residential Stamp Duty Land Tax (SDLT) announced by …

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The VAT reverse charge

HMRC has issued detailed guidance on the domestic reverse charge changes scheduled for 1 March 2021.

The reverse charge represents part of a government clampdown on VAT fraud. Large amounts…

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Increased support made available for the self employed

The government has increased the support available to self-employed workers and extended its emergency business loan schemes as the UK heads for a second national lockdown.

On 5 November Rishi…

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Self assessment taxpayers warned to watch out for scammers posing as HMRC

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…

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Institute of Directors warns Capital Gains Tax rise would adversely affect entrepreneurs

The Institute of Directors (IoD) has warned the government that a rise in CGT would affect Britain's entrepreneurial spirit.

The business group believes CGT could be targeted by the Treasury…

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Scottish Budget Income Tax

Finance Secretary Kate Forbes delivered the 2021/22 Scottish Draft Budget on Thursday 28 January 2021, setting out the Scottish Government's financial and tax plans.

The Government has devolved…

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£20 million SME Brexit Support Fund opens for applications

The UK government has unveiled a £20 million Brexit support package to help small and medium-sized enterprises (SMEs) with changes to customs and tax rules when trading with the EU.

The SME…

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