12 December 2021
HMRC has now allowed manual window blinds and shutters by updating its guidance on the DIY housebuilder’s scheme that will be eligible for a VAT refund. They have confirmed that the policy will be applied from 5 October 2020. This amendment allows such items that fit the description of ‘building…
10 December 2021
HMRC, in its latest Revenue and Customs Brief (13 of 2021) has amended its policy on the VAT treatment of the construction self-supply charge and what it considers disposal of an ‘entire interest’. If the buildings are used for a relevant residential, charitable purpose or care home then zero-rating of…
28 October 2021
Due to the Covid pandemic, the government has opened a Reinsurance Scheme that sums up around £800 million and will cover many live events against the cancellations stemming. This live event sector has been opened to support small businesses and self-employed that totals around 700,000 which is worth more than…
30 September 2021
On 23rd September, HMRC announced that businesses will get an extra year to prepare for the digitalization of the Income Tax. The decision to introduce MTD after the year of its initial release for Income Tax Self-Assessment is due to the pandemic where many of the businesses and their representatives…
The new legislation has been implemented as Late Payment Penalties that will be applied to payments due from VAT businesses and ITSA taxpayers. The current late payment penalties in Schedule 56 of FA 09 will be replaced by a new regime for ITSA taxpayers whereas, the Surcharge will be replaced…
