Specialist Tax News

Diary of main tax events October 2020

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Date What’s Due 1 October Corporation tax for year to 31/12/19 unless pay by quarterly instalments 5 October Deadline for notifying HMRC of chargeability for 2019/20 if not within Self-Assessment and  receive income or gains on which tax is due 19 October PAYE & NIC deductions, and CIS return and tax, for month to 5/10/20 […]

Specialist Tax News

Vat definition of “motor car”

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For VAT purposes the definition of a motor car has been amended several times over the years. The current definition states:   “Motor car” means any motor vehicle of a kind normally used on public roads which has three or more wheels and either: a) is constructed or adapted solely or mainly for the carriage of […]

Specialist Tax News

Company vans were motor cars

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The Court of Appeal have now ruled on the tax status of certain vehicles provided to employees of Coca Cola. The court has upheld the HMRC view that vans with windows and a second row of seats behind the driver are not goods vehicles but motor cars for benefit in kind purposes. Consequently, the income […]

Specialist Tax News

Numerous fraudulent CJRS claims identified

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HMRC’s CJRS fraud reporting portal had received over 2,000 reports of wrongful claims. Examples of such wrongful claims include; Claiming furlough payments for staff who are continuing to work Furloughing staff but asking them to work “voluntarily” on an unpaid basis. Claiming furlough payments for “ghost” employees, and those who left employment before 19 March […]

Specialist Tax News

Changes to CJRS “furlough” claims

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Note that for the month of August the Government will continue to pay 80% of employees’ regular pay for hours that they are furloughed but will no longer pay the associated employer NICs and pension costs. The government support then reduces to 70% in September and 60% in October. Contact us if you need help […]

Specialist Tax News

High income child benefit charges not valid

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A recent tax tribunal has ruled against HMRC who were seeking to raise tax assessments for the High Income Child Benefit Charge (HICBC) for earlier years that had not been reported to HMRC. HICBC is a special tax charge that applies where one member of a couple in receipt of child benefit receives income in […]