Our latest newsletter provides an update on a range of topical issues:
Making Tax Digital For Income Tax
Inheritance Tax - BPR and APR Changes
High Income Child Benefit Charge: Pay via PAYE
Making Tax Digital For Income Tax
Making Tax Digital is only weeks away for sole traders and landlords with income above £50,000 (before expenses) representing a shift to quarterly HMRC reporting.
Inheritance Tax - BPR and APR Changes
Business Property Relief and Agricultural Property Relief increasing to £2.5m and unused allowances will be transferable between spouses
VAT Errors
VAT Errors must now be notified to HMRC online with the previous VAT652 form now withdrawn
HMRC Connect
Latest update on HMRC's Connect system and it's use in identifying anomalies in tax filings relative to "lifestyle indicators".
High Income Child Benefit Charge: Pay via PAYE
Introduction of mechanism to pay High Income Child Benefit charge via PAYE rather than filing a Self Assessment
