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Budget 2021: corporation tax to increase to 25%

Budget 2021: corporation tax to increase to 25% In April 2023, the rate of corporation tax will increase to 25%, a 6% increase from the current 19% while at the…
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HMRC remind taxpayers to file returns to avoid penalty

HMRC have issued a reminder that Self Assessment (SA) taxpayers who have not yet filed their 2019/20 tax return should do so by 28 February 2021 to prevent a £100…
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VAT deferral payment scheme online service opens

Over half a million businesses who deferred VAT payments last year can now join the new online VAT Deferral New Payment Scheme to pay in smaller monthly instalments, HMRC has…
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HMRC temporarily waives late payment penalties

The payment deadline for self assessment is 31 January and interest is charged from 1 February on any amounts outstanding. Normally, a 5% late payment penalty is also charged on…
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HMRC remind taxpayers to claim marriage allowance

HMRC are reminding married couples and people in civil partnerships that they may be able to take advantage of the marriage allowance and claim a tax refund before the end…
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Deadline approaches for reporting CGT on UK residential property

20 July: Under new rules capital gains tax (CGT) on disposals of UK residential property must be reported by 31 July to avoid a penalty, reminds ICAEW’s Tax Faculty. A…
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