More recent posts
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Trust Register
HMRC’s new Trust Register has now been launched. The new Trusts Online Service is the portal for trustees to provide HMRC with information required for the Register, such…
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Magma reaches Gold Partner status with Xero
Magma are pleased to announce that they have recently achieved Gold Partner status with Xero, the multi award winning global leader in cloud-based accounting software. In partnership with…
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Rise in State Pension age brought forward by seven years
The Government has announced that the rise in the pension age to 68 will now happen by 2039 – seven years earlier than initially proposed, and will affect…
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Next steps on the Finance Bill and Making Tax Digital
Ministers have confirmed a new timetable for Making Tax Digital. Whilst Making Tax Digital should provide businesses with a modern, streamlined system to assist with updating tax records…
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Capital Gains Tax: HMRC rescinds daily penalties for non-UK residents late filing
HMRC have recently said to the Institute of Chartered Accountants in England and Wales (ICAEW) that it has decided not to charge daily penalties for failure to submit…
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HMRC victory in Rangers Employee Benefit Trust case
The Supreme Court has now ruled in HMRC’s favour, bringing to an end a long legal battle with Rangers football club over its use of Employee Benefit Trust…
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Employment-related securities deadline extended to 24 August
Following technical problems with submissions, the reporting deadline of 6 July for events in the tax year 2016/17 has been extended to 24 August. You should be aware that…
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Automatic Exchange of Information (AEOI) – returns deadline 31 May 2017
Automatic Exchange of Information agreements are made between the UK and other countries. These agreements allow the exchange of information between tax authorities of different countries about financial…
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Reporting requirements for Trusts and Estates
Last year the requirement to deduct tax at source on bank, building societies and National Savings and Investments (NS&I) income was removed and income from these sources is…