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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Companies House Late Filing Penalties

A new private company must file the first company accounts within 21 months of the date of incorporation. Subsequent years company accounts need to be filed within 9 months of the accounting reference period (normally the company year end). Failure …
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HMRC Let Property Campaign

HMRC have updated their “Let Property Campaign” details on 11th September 2020. If you are one of the following: The owner of a residential let or a furnished holiday let or rent out a room in your main home above …
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Capital Gains Tax on disposal of residential properties

HMRC have now updated their online system for reporting disposals of residential properties subject to CGT. It is now possible to report a second disposal online. Since 6th April 2020, Capital Gains Tax (CGT) on all UK residential property sales …
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Higher rate of Stamp Duty Land Tax (SDLT)

HMRC have updated their guidance on SDLT today (27/08/20). The full guidance can be seen on the gov.uk web site. SDLT higher rates apply when you buy residential property (or a part of one) for £40,000 or more and if …
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