Month: May 2023

Over £500m paid in tax-free childcare – More than 650,000 families used tax-free childcare in 2022-23, accounting for more than £533m in financial support

Accountant loses £78k tax appeal – An accountant has lost an Upper Tribunal case against a notice of requirement (NOR) to pay security for PAYE and national insurance contributions (NICs) totalling £78,000

IOSCO plans global rules for cryptoassets including protection for investors and integral role for #auditors, with requirement for annual audit, internal control report and independent review of adequacy of CASPs’ policies and procedures

Residential properties and tax liability – beyond main home principal private residence relief does not apply so taxable up to 28% CGT – PPR costs Treasury £25bn a year so valuable relief

Electrical blinds are not tax deductible – VAT guidance updated – as soon as an electric mechanism is used to operate the blind full rate 20% VAT is payable by developers and builders

Sixth crypto exchange AAX collapses with £45m in funds tied up in the platform – Quantuma appointed as liquidators

Plans to simplify construction industry scheme – HMRC is consulting on plans to simplify the administrative burden of the construction industry scheme by simplifying some reporting requirements

Landlord registration plan in Renters Reform Bill will drive HMRC investigations – database could ‘provide HMRC with a gold mine of information to pursue landlords for unpaid tax’, warned

Taxpayers told to use #HMRC online services by Treasury to address service problems – ‘HMRC have seen unexpected demand for services and strains on their resource, which has affected performance… HMRC officials are sorry

Crypto should be treated as gambling, say MPs – MPs on the Treasury Committee have called on the government to regulate cryptocurrencies as gambling but there has been pushback from critics