Personal tax

Tax / Covid-19: partnerships offered income support

HMRC has published guidance on the self-employment income support scheme to combat losses as a result of coronavirus, which confirms that partnerships are eligible to apply, reports Pat Sweet

Tax / Q&A: Self-employment Income Support Scheme

On Thursday 26 March the Chancellor announced the Coronavirus Self-employment Income Support Scheme to provide financial support for the self-employed and members of partnerships in the form of a taxable cash grant in the fight against covid-19. Here we assess the key measures and eligibility criteria

Tax / Covid-19: changes to stamp duty payments process on share sales

Due to measures put in place to stop the spread of coronavirus, HMRC has temporarily changed the way it deals with stamp duty payments on shares bought on a stock transfer form, and will no longer accept cheques

Tax / Covid-19: self employed package hints at future tax equity

Chancellor Rishi Sunak has unveiled a £9bn package of support for self employed taxpayers and members of partnerships, Self-Employed Income Support Scheme, affected by the coronavirus epidemic which he said was equivalent to the furlough scheme for those paid via PAYE, and has indicated that future tax policy may need to change to reflect this equivalence

Tax / Covid-19: self employed will receive 80% package financial support

The Coronavirus Bill has received Royal Assent and is now in statute, setting out the bare details about the plans for a support package for the self employed, with detail to follow in tonight's televised briefing by the Chancellor

Tax / Covid-19: taxpayers urged to weigh up savings withdrawals

Taxpayers who are looking to reorganise their finances to respond to the impact of coronavirus on jobs are being warned to think carefully about the tax and welfare benefit consequences of drawing on savings

Tax / Chancellor finalising package of financial support for self-employed

The Chancellor, Rishi Sunak, will detail plans for financial support for the self employed at the daily briefing this evening, with the likelihood of an averaging scheme to reflect variable earnings

Tax / Covid-19: expat US taxpayers can defer federal income tax filing to 15 July

The US Treasury Department and Internal Revenue Service (IRS) has confirmed that the federal income tax filing deadline has been automatically extended by three months to 15 July 2020, although there are exemptions including no deferral for the 2017 one-off ‘repatriation tax’, reports Sara White

Tax / Covid-19: 80% rule salary payments liable for income tax and NICs

Individuals will be deducted income tax and national insurance contributions (NICs) on the 80% salary subsidies paid under covid-19 emergency employment measures for furloughed workers, but self employed are still waiting for support package, reports Sara White

Tax / Covid-19: expats and non doms can claim ‘exceptional circumstances’

Expats and non doms who find themselves stuck in the UK as a result of the coronavirus pandemic will be able to claim ‘exceptional circumstances’ with regard to their current tax residency status, in cases where they have to stay here for more than the 183 days permitted

Tax / Taxman cans paper self assessment forms

HMRC is to stop automatically sending taxpayers paper self assessment forms except for exempt individuals who cannot file digitally

Tax / IR35 private sector reforms delayed until 2021

The government has announced a one year delay to controversial changes to the off payroll working rules, due to be enacted next month, amid concerns about their potential impact during the coronavirus pandemic, reports Pat Sweet

Tax / Budget 2020: tax-free childcare extended

The Budget has included a new measure to boost take-up of the tax-free childcare (TFC) scheme, by making it accessible to parents who use before and after school care

Tax / Contractors charged £180 for IR35 assessment

Some recruitment agencies are passing on the costs of IR35 assessments to contractors even though liability for the decision will legally remain with the original engager

Tax / BBC delays over-75s TV licence charge to August

The government has confirmed that over 75s will not be charged for a TV licence until August, a timely move as that age category faces the possibility of self-isolation in the fight against covid-19
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