Personal tax

Tax / Covid-19: zero hours PAYE employees entitled to 80% furlough scheme

Zero hours workers are entitled to be furloughed under the 80% rules set out in the Coronavirus Job Retention Scheme based on an average calculation of monthly earnings, reports Sara White

Tax / Covid-19: loan charge taxpayers given ‘special arrangements’

HMRC is to introduce special arrangements for taxpayers affected by the loan charge rules relating to disguised remuneration tax avoidance schemes, paving the way for some of them to make claims under the government’s coronavirus support scheme for the self-employed, reports Pat Sweet

Tax / Public sector contractors given access to 80% furlough scheme

IR35 contractors working for public sector organisations through personal service companies who are unable to carry on working due to the covid-19 pandemic will now be eligible for the 80% furlough scheme if their contracts are ongoing, reports Sara White

Tax / Buy to let landlords and second home owners face tax hikes from 6 April

Second home owners and buy-to-let investors face significant tax changes from the new 2020-21 tax year on 6 April with the 30-day CGT payment window and end of mortgage interest rate relief, in the works since first announced at Summer Budget 2015, reports Sara White

Tax / Covid-19: HMRC clarifies self assessment tax payment deferral

Following some initial confusion, HMRC has now updated its advice for businesses and individuals affected by coronavirus to make clear that the six-month income tax self assessment deferral for payments due in July applies to all taxpayers, and not just those who are self-employed

Tax / Returning NHS workers targeted by tax avoidance scammers

HMRC has issued specific guidance flagging up concerns that workers returning to the NHS to help respond to the coronavirus outbreak are becoming targets for tax avoidance schemes by unscrupulous advisers

Tax / Covid-19: limited company directors have limited support

As the details of Chancellor Rishi Sunak’s ‘unprecedented’ package of support for individuals and businesses affected by the coronavirus pandemic emerge, directors of limited companies have found they risk falling between the two key schemes, reports Pat Sweet

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
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