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Information Snippets

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  • HMRC is increasingly moving the focus of its investigations for underpaid tax away from foreign companies and is instead looking more closely at British companies
  • Owners of second homes and buy-to-let (BTL) landlords face a much shorter period in which to pay any capital gains tax (CGT) due on property sales from April 2020
  • Many of the current exemptions and rules around inheritance tax (IHT) are too complicated, not widely understood and should be scrapped according to our regulatory body, the Association of Accounting Technicians (AAT), which says there is a case for getting rid of IHT altogether
  • The Supreme Court has dismissed Pimlico Plumber’s appeal and has ruled that a plumber can be classed as a ‘worker’ rather than self-employed, in a landmark ruling which will have wider implications in the gig economy
  • The term gig economy is an environment in which temporary positions are common and organisations contract with independent workers for short-term engagements.
  • HMRC has extended the three-day easement for PAYE late filing penalties until 5 April 2019.
  • The government’s flagship universal credit system has not delivered value for money and it is uncertain that it ever will, according to the National Audit Office
  • The EU is to introduce tougher criminal laws to tackle money laundering, including harmonised rules on offences and sanctions across all member states – here we go again!
  • HMRC is able to cancel a company’s gross payment status for the purposes of the construction industry scheme (CIS) without considering whether it would have a seriously detrimental effect on the business, the Supreme Court has decided.
  • The Low Income Tax Reform Group (LITRG) is cautioning the Treasury against reducing the VAT registration threshold in the near future, as there are so many fundamental changes on the horizon for small businesses to get to grips with in the next few years, such as Brexit and HMRC’s Making Tax Digital programme.
  • HMRC is reminding parents that they are able to use the tax-free childcare scheme to pay for holiday clubs
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

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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