General Features

Technical
1 April 2019

Professional Conduct in Relation to Taxation (PCRT) sets out the professional standards that are expected of a member when undertaking tax work. PCRT is a pan-professional document published by seven leading accountancy and tax bodies. As such it represents an ‘industry standard’ about professional behaviour in tax matters. Members must therefore be familiar with, and comply with, PCRT when advising on UK tax matters. Failure to do so may expose a member to possible disciplinary action.

Technical
1 April 2019

The Scottish parliament passed the Scottish Rate Resolution in late February 2019. This means the Scottish income tax rates and bands announced in the Scottish draft budget in December 2018 take effect on 6 April 2019.

Technical
1 April 2019

Changes to tax relief for residential landlords will affect student loan repayments whatever rate of tax is paid.

Technical
1 April 2019

In the Budget 2018, the Chancellor announced the introduction of a new plastic packaging tax, effective from April 2022, and it released a policy paper, ‘ Single-use plastics: Budget 2018 brief ’. The consultation has now been published, Plastic packaging tax: consultation , which sets out more details about the proposed tax and raises questions on the impact in the supply chain. The consultation period closes on 12 May 2019.

Technical
1 April 2019

Your comments are invited on the consultation on a SDLT 1% surcharge for non-residents buying residential property. The consultation is open until 6 May 2019.

Technical
1 April 2019

In the Making Tax Digital (‘MTD’) article in the March edition of Tax Adviser , we reported that HMRC were producing new guidance on applying for exemption for MTD: this was published on 28 February.

Technical
1 March 2019

Updated CPD Regulations came into force for all members of the ATT and CIOT on 1 January 2017. CPD is the requirement to maintain and develop the skills and competencies necessary to carry out professional and technical duties competently throughout the member’s working life.

Technical
1 March 2019

Universal credit full service completed its roll-out across the UK in December 2018. Existing tax credit claimants are not affected by the roll-out unless they choose to claim Universal Credit, have a change in circumstances that ends their tax credit claim (and they need to make a new claim) or they need to claim another benefit that Universal Credit has already replaced. Existing tax credit claimants will be moved to Universal Credit through a process called ‘managed migration’.

Technical
1 March 2019

With a few weeks to go before the first tranche of VAT registered taxpayers are mandated to comply with the requirements of Making Tax Digital for VAT (MTD) for periods starting on 1 April, we’ve set out some reminders to check that you are prepared.

Technical
1 March 2019

2018 is fast becoming a distant memory, as we deal with the many issues keeping us busy in the early part of 2019. But it’s good to look back at what we did in 2018, and how we fulfilled our charitable objectives to promote education in taxation and seeking to achieve a better tax system for everyone.