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  • HMRC are extending the soft-landing period for businesses that can evidence that it is not practical for them to implement digital links across their accounting systems prior to the relevant deadline
  • Taxes are high by historical standards accounting for over a third of GDP at 34.4%, increasing almost 7% from the 1950s.
  • The tax rules for UK residential properties have substantially changed over the last 6 years, reducing the appetite for investment in UK real estate by foreigners.
  • Wholesales suppliers have claimed the top spots on HMRC’s latest quarterly list of deliberate tax defaulters paying over £1m in penalties for unpaid tax. Grocery shops and fast food outlets are among the businesses that have been ‘named and shamed’ owing £13m.
  • The deadline for submission of self-assessment tax returns and payment of due tax for year ended 5th April 2019 is fast approaching on the 31st January 2020

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Disclaimer:- The information contained herein is given by way of general guidance only and no action should be taken solely on the basis of the information contained herein. The Avanti Group (UK) Ltd will be pleased to provide further guidance on the issues, and how they might affect you. No liability is accepted by the firm for any action taken without seeking appropriate professional advice