This month’s UK tax tidbits
A proposed change to the rate of corporation tax in the UK features this issue.
- In a speech to the CBI conference, Boris Johnson announced that the corporation rate will remain at 19% from 1 April 2020 and will not now fall to 17% as planned, if the Conservative Party is successful in the December election;
- The high level guidance on Business Asset Rollover Relief has been updated;
- HMRC has updated the list (List 3) of professional bodies and learned societies, approved by HMRC for the purpose of Section 344 ITEPA 2003 (allowable deductions from earnings for fees and subscriptions paid to professional bodies/learned societies).
- Compliance checks: penalties for careless inaccuracies relating to tax avoidance CC/FS7c has been updated.
- The latest HMRC performance statistics have been published: HMRC monthly performance report: September 2019 and HMRC quarterly performance update – July to September 2019.
- List of customs agents and fast parcel operators and Customs Authorisation and Approval have both been updated.
- Both Register with HMRC to use an agent services account and Sign in to your agent services account have been updated.
- The agent authorisation service in the Agent Services Account is now available for sole trades and other businesses.
- Corporation tax returns and capital allowances for buildings sets out that HMRC will not be updating their systems for this until April 2020.
- The guidance on the taxation of cryptoassets has been updated.
- Help and support for self-Assessment, Help and support for landlords and Help and support if you’re self-employed have all been updated.
- The latest Pension schemes newsletter 114 – October 2019 is available.
- Agent Update 74 is now available.
- Use the updated HMRC videos and webinars to get help if you’re an employer.