How keen is the UK, in general, to embrace HMRC’s Making Tax Digital (MTD) initiative? Are we lagging behind other countries in adopting a digital system and have we gone far enough to digitise all business processes, rather than just the integration with the tax system?
Our tax team take a look at the latest Capital Gains Tax (CGT) figures published by HMRC and consider what the future holds for the tax.
A recap of HMRC’s proposals to reform the penalties for late submissions to a points based system.
HMRC is making SEISS (Self-Employment Income Support Scheme) auto-corrections to 2020/21 tax returns where it believes the total of declared SEISS grants received does not match their records.
HMRC has begun writing to all VAT registered businesses currently trading with the EU, to explain the steps they need to take to prepare for the new trade arrangements from 1 January 2021.