Latest News from GTN

Higher rate taxpayers: no longer a select club

Higher rate taxpayer numbers are rising sharply, and if that’s you, then advice is now more important than ever.

Making Tax Digital Update

Making Tax Digital (MTD) will become mandatory for the self-employed and landlords in 2024. Although there is no major news, a recent webinar co-hosted by HMRC has shed more light on the sign-up process, the use of spreadsheets and joining the pilot scheme.

A New Breed of Digital Nomad

The pandemic has freed many workers from the confines of the office, leading to the emergence of a new breed of digital nomad – people who can take their laptop, jump on a plane and set up a remote ‘office’ somewhere exotic.

2022 UK Spring Statement Highlights

This newsletter provides a summary of the key tax points from the 2022 UK Spring Statement based on the documents released on 23rd March 2022.

HMRC gives Self Assessment taxpayers more time to file 2020/21 tax returns

Late filing penalties are to be waived for one month for Self Assessment taxpayers with an additional extension to pay any liabilities due.

Treasury Sets Aside CGT and IHT Change Agendas

Tax and Administration Maintenance (TAM) Day is a new phenomenon brought in by the Treasury to try and move away from the traditional all-in-one Budget. Following the first ‘Tax Day’ in March, the end of November saw another round of announcements.

CGT reporting and payment deadline extended

For disposals of UK residential property completed on or after 27 October 2021, the reporting and capital gains tax (CGT) payment deadline has been extended from 30 days after completion to 60 days. The previous 30-day time limit has proved to be quite challenging for taxpayers.

2021 UK Autumn Budget Highlights

This newsletter provides a summary of the key tax points from the 2021 Autumn Budget based on the documents released on 27th October 2021.

Basis period rules among tax changes coming up

Although it looks like the next Budget will be pushed back to spring 2022, several tax changes are already on the cards, some more certain than others. The government’s fast progress with reform of the basis period rules for unincorporated businesses has taken some by surprise.

More Off-Payroll Cases Reach Tribunal

The off-payroll working (IR35) tests are still relevant despite the blanket approach often in place regarding contractors’ employment status. They must always be applied if you are contracting for a small organisation.

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