Guidance on Structures and Buildings Allowance
Posted on Wednesday, February 26th, 2020
The latest HMRC Agent Update includes guidance on the Structures and Buildings Allowance (SBA). This capital allowance is designed to provide tax relief for businesses and to support investment in constructing new structures and buildings and improving... Read Full Article...
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Call for review of High Income Child Benefit Charge
Posted on Wednesday, February 26th, 2020
The Low Incomes Tax Reform Group (LITRG) is calling on the government to address issues with the High Income Child Benefit Charge (HICBC). The HICBC is designed to claw back child benefit where the claimant or their... Read Full Article...
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Chancellor commits to review of IR35
Posted on Wednesday, February 26th, 2020
The Chancellor of the Exchequer, Sajid Javid has announced that the major review of all aspects of self-employment, promised in the Conservatives’ manifesto, will include the proposed extension of the Off-Payroll working rules to the private sector... Read Full Article...
Review of the Disguised Remuneration Loan Charge
Posted on Wednesday, February 26th, 2020
The government has announced it will make a number of changes to the loan charge rules, in response to Sir Amyas Morse’s independent review of the loan charge policy and its implementation. The government has announced the... Read Full Article...
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Minimum wage rates announced
Posted on Wednesday, February 26th, 2020
The government has announced a 6.2% increase in the National Living Wage (NLW), which applies to workers aged 25 and over. From 1 April 2020 the NLW will rise from the current rate of £8.21 to £8.72... Read Full Article...
New right to paid parental bereavement leave
Posted on Wednesday, February 26th, 2020
The government has confirmed that parents who suffer the loss of a child will be entitled to two weeks’ statutory leave. Under the new entitlement working parents who lose a child under the age of 18 will... Read Full Article...
Changes to overdraft fees
Posted on Wednesday, February 26th, 2020
The Financial Conduct Authority (FCA) has confirmed it will introduce new rules in April this year that it says will make the costs of overdrafts clearer and easier to compare. The rules will mean banks can only... Read Full Article...
Tax relief on professional fees and subscriptions
Posted on Wednesday, February 26th, 2020
Employees are allowed to claim tax relief on their annual professional fees or subscriptions to some HMRC approved professional organisations. The costs are tax deductible generally where the individual must have membership to do their job or... Read Full Article...
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Off-payroll working
Posted on Wednesday, February 26th, 2020
HMRC has now published draft secondary legislation for the off-payroll working rules that are due to come into force in April this year. In 2017, HMRC introduced new off-payroll rules to the public sector, which saw some... Read Full Article...
Budget Day 11 March
Posted on Wednesday, February 26th, 2020
Chancellor Sajid Javid has announced that he will deliver the 2020 Budget on Wednesday 11 March 2020. The 2020 Budget will be the first to be delivered after the UK’s departure from the EU on 31 January... Read Full Article...