The latest update from HMRC is now available.

The latest Agent Forum posts

Check out the latest items on the Agent Forum. Remember, in order to view each item you must have signed up for it and be logged in.

All agents, who are a member of a professional body, are invited to join HMRC’s Agent Forum. This dedicated Agent Forum is hosted in a private area within the HMRC’s Online Customer Forum. You can interact with other agents and HMRC experts to discuss topical issues and processes.

Stamp duty land tax payment deadline now 14 days

The deadline for paying stamp duty land tax (“SDLT”) and filing SDLT returns for property acquired in England and Northern Ireland is now 14 days after the effective date for transactions on or after 1 March 2019. The deadline for payment of both stamp duty and stamp duty reserve tax is unchanged.

This change was introduced via a statutory instrument, the Stamp Duty Land Tax (Administration) (Amendment) Regulations 2018.

Delay in issuing 2017–18 self-assessment late filing penalty notices

According to Agent Update 70, HMRC are delaying the issue of late filing penalty notices for 2017/18 self-assessment returns which were due online by 31 January 2019. These would normally have issued in February but will now be issued before the end of April 2019 at the latest i.e. before the three month daily penalty begins to accrue. HMRC advise that these will issue sooner if the EU Withdrawal Agreement is agreed.

This decision is part of HMRC’s EU Exit contingency planning which is intended to free up staff in its call centres and back office for EU Exit related work.

The late filing penalty is £100 for a tax return which is filed up to 3 months late after which a daily penalty of £10 per day accrues for up to 90 days (maximum of £900). Further penalties are charged for later returns.

The penalties for 2017/18 tax returns filed on paper after 31 October 2018 and also after 31 January 2019 are expected to be issued in the usual timeframe.

Agent Services Account

HMRC has now released the functionality which allows overseas tax agents to set up an agent services account (“ASA”). An ASA can also be set up by group tax managers working in internal tax departments in businesses.

An ASA is needed for the following HMRC services:-

• MTD for VAT – including both signing up clients to MTD for VAT and the new online process for authorising new VAT clients;
• MTD for income tax; and
• The trust registration service.

Say I Do….

…to the marriage allowance. Valentine’s Day might be over but HMRC are encouraging married couples and those in a civil partnership to sign up for Marriage Allowance if they haven’t already done so.

The marriage allowance lets lower income individual’s transfer £1,190 of their Personal Allowance to their husband, wife or civil partner – if their income is higher. This could reduce their tax by up to £238 for 2018/19 tax year.

The following conditions must be met to benefit from the marriage allowance:

• you’re married or in a civil partnership;
• you do not pay income tax or your income is below your Personal Allowance (£11,850 in 2018/19); and
• your partner pays income tax at the basic rate, which in 2018/19 means their income is between £11,851 and £46,350

The personal tax allowance is increasing to £12,500 in 2019/20. The increase in non-taxable earnings means eligible couples will be able to transfer up to £1,250 from the lower income to the higher income earner – reducing their tax by up to £250 a year.

Couples can find out more and apply for Marriage Allowance at GOV.UK. Couples are guaranteed 100% of their eligible entitlement, if they apply directly through HMRC. There is no need to reapply for Marriage Allowance every year because it is automatically renewed. However, couples should notify HMRC if their circumstances change and they want to cancel it.

Talking Points latest schedule

Take a look at forthcoming online HMRC events. HMRC ask that you register at least five minutes before a digital meeting is due to start.

If you have any questions for HMRC’s subject experts more than 24 hours prior to the meeting, please send them to team.agentengagement@hmrc.gsi.gov.uk, including the title of the meeting in the ‘Subject’ line of your email. Any questions that arise after this time should be submitted during the live meeting.

These interactive meetings run on the ‘GoToWebinar’ platform. The organiser will run through how to ask questions on the day.