Technical

Important: are you setting up in practice? Deadline for Anti-Money Laundering Registration of new businesses

Technical
Jane Mellor |
1 February 2019

There are lots of regulatory requirements to deal with when setting up in practice. It can be easy to overlook some of these but you are reminded that it is a legal requirement to be registered for anti-money laundering (AML) supervision if you are ‘acting in the course of business’ as any of the following: ‘auditors, insolvency practitioners, external accountants and tax advisers’. Tax advisers include those dealing with tax compliance work and more specialist advisory work such as capital allowances or R&D claims.

General Features

Reduction in the time to file a Stamp Duty Land Tax return and pay tax due

Technical
Kate Willis |
1 February 2019

The time limit to file a Stamp Duty Land Tax (SDLT) return and pay the tax due will reduce from 30 days to 14 days from 1 March 2019. New regulations make consequential amendments and changes to the return particularly for a deferment application

General FeaturesPersonal tax

Changes to the VAT treatment for retained payments and deposits on 1 March 2019

Technical
Jayne Simpson |
1 February 2019

On 1 March 2019, the VAT accounting treatment for part and full payments for supplies that are retained/non-refundable where a customer does not take up the supply, changes from VAT free compensation to taxable consideration. Where a service is not used or goods are not collected by the customer, these are known as ‘unfulfilled supplies’.

Indirect Tax

HMRC’s Employment Taxes Forums

Technical
Matthew Brown |
1 February 2019

Round up of HMRC employment taxes related consultative forum meetings, including the Employment and Payroll Group, IR35 Forum, Student Loan Consultation Group and Pensions Industry Stakeholder Forum.

Employment Tax

HMRC’s Non-Statutory and Statutory Clearance Services: how are they working at the moment?

Technical
Margaret Curran |
1 February 2019

What are your recent experiences of dealing with HMRC’s clearance services?

General Features

The Inheritance Tax Account forms (IHT100) Project

Technical
Helen Thornley, John Stockdale |
1 February 2019

HMRC are considering an annual refresh of the collection of Inheritance Tax Account (IHT100) forms.

International Tax

Making Tax Digital

Technical
Richard Wild |
1 February 2019

The VAT pilot has been opened up to all businesses who are mandated into MTD from 1 April 2019, but care needs to be taken to sign up at the right time. HMRC is also writing directly to businesses – have you/your clients received a letter?

General FeaturesIndirect Tax

Loan charge: LITRG helps workers make sense of HMRC’s settlement opportunity

Technical
Meredith McCammond |
1 February 2019

With time running out for workers to settle with HMRC before the loan charge crystallises, LITRG has released an article providing some urgently needed clarity around HMRC’s settlement option. Although the article is aimed at unrepresented taxpayers, it may also be useful to advisers who are trying to assist clients facing the loan charge.

Employment Tax

Structures and buildings allowances: where are we now?

Technical
Emma Rawson |
1 February 2019

The new Structures and Buildings Allowances could apply to expenditure currently being incurred by businesses, though consultation continues over their exact scope and operation.

Large CorporateOMB

The Finance Bill’s passage through Parliament

Technical
George Crozier |
1 February 2019

Finance (No.3) Bill completed its Commons stages after an unusually eventful passage which saw four sets of government amendments and six opposition amendments passed.

General Features