Feb 26, 2021 | Current Affairs
The number of people on furlough increased by 700,000 last month as a result of tighter lockdown restrictions, according to official statistics. HMRC reported that 4.7 million people were furloughed on 31 January 2021, up from 4m in December 2020. According to the tax...
Feb 24, 2021 | Current Affairs
Chancellor Rishi Sunak is said to be preparing to introduce a three-month extension to the stamp duty land tax (SDLT) holiday. According to The Times, Sunak is planning to extend the holiday to the end of June to prevent property sales from falling through as a result...
Feb 23, 2021 | Current AffairsGovernment Announcements
HMRC has announced that self-assessment taxpayers will not be charged a 5% late payment penalty if they pay their tax or set up a payment plan by 1 April 2021.Usually, a 5% payment penalty is charged on any unpaid tax that is still outstanding on 3 March. However, as...
Feb 22, 2021 | Current AffairsGovernment Announcements
The Treasury has announced it is delaying its final report on business rates until later this year.The Government attributed the delay to the uncertainty caused by the pandemic and said the review will be released later this year where there is more clarity on the...
Feb 19, 2021 | Current AffairsGovernment Announcements
HMRC has published a new document outlining its IR35 compliance strategy, which will be introduced on 6 April 2021.Emphasising its advice from last year, the tax authority confirmed it will not issue fines for inaccuracies in the first year of the scheme, unless there...
