From 1 October 2019, the customer rather than the supplier will have to account for VAT due on certain building services when they are reported under CIS regulations. HMRC has just released its first draft guidance and updated draft legislation...
Read MoreChild-Care Tax Credit
Child-care tax credits are available for working parents who hire someone to care for kids under 13. Qualifying outlays include payments to nursery schools, day care centers and babysitters. But beyond kindergarten, the IRS allows a credit for...
Read MoreWorkplace pensions: End of the beginning
Employers and advisers need to prepare for phase three of auto enrolment of workplace pensions, as the big increase in pension contributions is less than six months away. Minimum contributions On 6 April 2019 the minimum total workplace...
Read MoreLandlords fail to overturn HMRC’s information notices
HMRC issued information notices to two landlords who hadn’t declared income from their let properties. Andy Keates explains why the challenges against those notices failed. Facts (in brief) The cases concerned information notices issued...
Read MoreInheritance tax take hits new high
A new HMRC report has revealed that inheritance tax receipts hit a record high of £5.2bn over the last financial year, increasing 8% (£388m) year-on-year during 2017/18. The report, released ahead of an OTS review of inheritance tax (IHT) rules...
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