General Features

Technical
1 January 2018

Finance Bill 2017-18 was published on 1 December. At time of writing it was scheduled to get its second reading in the House of Commons on 11 December and for two days of debate in Committee of the Whole House on 18 and 19 December. The remaining clauses are expected to be debated in Public Bill Committee in the New Year, with the Bill passing its remaining stages and gaining Royal Assent before the end of March.

Technical
1 December 2017

LITRG recently responded to a consultation by the Director of Labour Market Enforcement which moots a possible extension of the GLAA licensing system.

Technical
1 December 2017

The LITRG have published a report summarising the main shortcomings of the current universal credit system in respect of the self-employed and suggesting positive reforms that would encourage entrepreneurial activity and relieve administrative burdens.

Technical
1 December 2017

October marked the first board meeting of the new Welsh Revenue Authority and the announcement of rates for Welsh Land Transaction Tax and Landfill Disposals Tax.

Technical

The ATT and CIOT have met with the Office of Tax Simplification (OTS) to discuss the potential impact on unincorporated businesses of replacing capital allowances with a deduction for accounting depreciation.

Technical
1 December 2017

From 15 December 2017 taxpayers will no longer be able to make payments to HMRC at the Post Office, and from 13 January 2018 HMRC will no longer be accepting payments made from personal credit cards. In the run-up to the 2016/17 self-assessment payment deadline of 31 January 2018, members with clients who typically use these methods to pay their tax bills should alert them to this change as soon as possible and discuss alternative payment methods with them.

Technical
1 December 2017

The CIOT and ATT have written to HMRC regarding the challenging deadline for providing information under new anti-money laundering legislation for trusts and provide further updates on accessing the Trust Registration Service and the new Agent Services accounts.

Technical
1 November 2017

The Office of Tax Simplification (OTS) has published a call for evidence regarding whether using accounts depreciation to provide relief for capital expenditure instead of capital allowances would simplify the preparation of corporation tax and income tax computations

Technical
1 November 2017

The CIOT and ATT agree with the OTS that the time is right to address whether disincorporation relief is achieving its purpose and to investigate what, if anything, can be done to make it more useful and more effective if it continues.

Technical
1 November 2017

Secondary and tertiary legislation has been published for consultation