HMRC Self Assessment late filing penalty delay

HMRC have announced this week that self assessment returns sent in after the deadline of 31st January 2021 but before 28th February 2021 will not be charged a penalty. However, any tax due and unpaid by 31st January will incur …
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HMRC VAT Extra Statutory Concessions

With the UK’s departure from the EU, HMRC have updated their list of Extra Statutory Concessions (ESC). A full list of ESC’s can be found on the gov.uk web site at https://www.gov.uk/government/publications/vat-notice-48-extra-statutory-concessions/vat-notice-48-extra-statutory-concessions
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HMRC Property Income, treatment of grants and contributions

With the recent local and national government grants for COVID, HMRC have revised part of their property income manual covering the treatment of grants and subsidies from UK government departments, private amenity groups and local authorities. For property income purposes, …
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VAT Deferred due to Coronavirus

HMRC have updated their guidance on VAT deferred between 20th March and 30th June. Under the initial scheme any VAT deferred was payable in full by 31st March 2021. There is now the option to pay in up to 11 …
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Persons with Significant Control (PSC)

Companies House have issued guidance on how to identify a company’s PSC. A PSC is someone who owns or controls a company. Generally, a person who owns more than 25% of the company’s shares or more than 25% of the …
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Private Residence Relief on Capital Gains Tax

For property disposals after 6th April 2020 the rule regarding relief between purchase and beginning of residence have changed. The relief can be claimed if all the following conditions have been met: 1. The time at which the property or …
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Additional Costs for Non-Residents Purchasing Property in the UK

From the 1st April 2021 Non-resident individuals, companies (including certain UK resident companies controlled by non-UK resident persons), trusts and partnerships will be charged an additional 2% Stamp Duty Land Tax (SDLT). Therefore, it is worth bringing forward any planned …
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Companies House Uploading Documents

Until this month a company had only be able to deliver forms by post or at the one of the Companies House offices. In response to increased delays in processing paper forms due to the pandemic Companies House have developed …
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HMRC Worldwide Disclosure Facility

If you are resident in the UK and receive income or have assets or carry on an activity outside the UK that would be subject to tax in the UK you may have to declare these in your tax return. …
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