The Welsh government has published its Draft Budget, setting out revenue raising and capital spending plans for 2020/21. The Draft Budget confirms no changes are proposed to Welsh income tax rates, or Land Transaction Tax rates and bands. The Draft Welsh spending plans for the longer term will depend on the next UK Budget and… Read more…

HMRC publishes details of deliberate tax defaulters, those people who have received penalties either for: deliberate errors in their tax returns or deliberately failing to comply with their tax obligations. Internet link: GOV.UK deliberate defaulters

The deadline for submitting your 2018/19 self assessment return is 31 January 2020. The deadline applies to taxpayers who need to complete a tax return and make direct payments to HMRC in respect of their income tax, Classes 2 and 4 National Insurance Contributions (NIC), capital gains tax and High Income Child Benefit Charge liabilities.… Read more…

The Low Incomes Tax Reform Group (LITRG) is calling on the government to address issues with the High Income Child Benefit Charge (HICBC). The HICBC is designed to claw back child benefit where the claimant or their partner earns in excess of £50,000. According to LITRG some households think making a child benefit claim is… Read more…

The latest HMRC Agent Update includes guidance on the Structures and Buildings Allowance (SBA). This capital allowance is designed to provide tax relief for businesses and to support investment in constructing new structures and buildings and improving existing ones. The SBA relieves the construction costs for new structures and buildings used for qualifying purposes and… Read more…

The Secretary of State has confirmed that the commitments being entered into, to make payments to clinicians affected by annual allowance pension tax, will be honoured when clinicians retire. In a written statement Matt Hancock, Secretary of State for Health and Social Care stated: ‘I have agreed to support this proposal from NHS England and… Read more…

The Chancellor of the Exchequer, Sajid Javid has announced that the major review of all aspects of self-employment, promised in the Conservatives’ manifesto, will include the proposed extension of the Off-Payroll working rules to the private sector from April 2020. Speaking on Radio 4’s Money Box Election Special, Sajid Javid said that, as part of… Read more…

The government has announced it will make a number of changes to the loan charge rules, in response to Sir Amyas Morse’s independent review of the loan charge policy and its implementation. The government has announced the following key changes to the loan charge: the loan charge will apply only to outstanding loans made on,… Read more…

The government has announced a 6.2% increase in the National Living Wage (NLW), which applies to workers aged 25 and over. From 1 April 2020 the NLW will rise from the current rate of £8.21 to £8.72 an hour, in the largest raise since it was introduced two decades ago. The government has confirmed that… Read more…