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MTD – an updated roadmap from HMRC

New draft legislation to extend Making Tax Digital was revealed by the Government on 21 July. What was announced? April 2021: the MTD for VAT ‘soft landing’ period ends: digital links must be in place for all VAT quarters beginning on or after 1 April 2021. April 2022: MTD for VAT will apply to all… Read More

Temporary reduction in Stamp Duty Land Tax

In the Chancellor’s Summer Statement, Rishi Sunak announced a Stamp Duty Land Tax (SDLT) holiday to take effect from 8 July until 31 March 2021 in England and Northern Ireland in an attempt to boost the property market. The changes mean that for people buying their main home (in England and NI) where the value… Read More

Deferral of 31 July 2020 Payment on Account

Under the Government’s time to pay measures introduced in the wake of the Coronavirus pandemic, HMRC advised that anyone struggling to pay the July 2020 payment on account could defer payment until 31 January 2021. HMRC have confirmed that their IT system has been updated so that deferred payments don’t incur any late payment interest… Read More

Corporation Tax: Summary of instalment payment regime

Small companies pay their corporation tax nine months and one day after the accounting year end. However, companies that are classified as ‘large’ or ‘very large’ are required to make quarterly corporation tax instalment payments. These instalments must be based on an estimate of the tax that will be due, and interest will be charged… Read More

Capital Gains tax changes on private residence from April 2020

Property owners with taxable gains on their residential properties need  to be aware of the changes to how the tax is paid and changes to valuable exemptions. Under the current system, these gains would be reported in the self assessment tax return and the tax is payable on 31st January after the tax year in… Read More

The Drive Towards Electric Vehicles

Somehow the start of a new year always gets us thinking about big plans and what the future might have in store for us.  For me, on a practical level, this has meant thinking about the replacement of my car which is coming to the end of its PCP term and that got me thinking about… Read More

HMRC VAT Investigations

Our experience shows that many of the tax investigations we handle are VAT investigations. This can be a very stressful time for the client and such investigations can be time consuming and lengthy in process. Such investigations can take anywhere in the region of three months to eighteen months to reach a conclusion depending on… Read More

AGN Excellent+ Seminar in Malaga, the Tax perspective

In the morning session of the AGN International conference in Malaga on 27th September 2019 we had to opportunity to learn more about tax issues in relation to cross-border employment. This was an excellent chance to work in groups on case studies to highlight the fundamental income tax and social security principles. These particular issues… Read More

Karen Keeling, Dafferns new Tax Director

We are delighted to announce Karen Keeling’s appointment as Tax Director. Karen, who is both FCCA and CTA qualified, joined Dafferns in 2014 and has worked in the firm’s corporate reporting, small business and tax teams. This new role will see Karen heading up both the personal and corporate tax teams, working alongside tax partners… Read More

Big changes ahead in the contractor market

There seems to be a general perception within HMRC that most, if not all, taxpayers are determined to avoid tax if ever they can.  If, like me, you have worked in public practice accountancy for many years, you will no doubt have come across some people for whom HMRC’s perception is absolutely right, but these people… Read More

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