The Low Incomes Tax Reform Group (LITRG) is reminding couples that they have until this time next year (5 April 2020) to claim marriage allowance refunds dating back to the first tax year of the allowance, 2015/16.
From today, an estimated half a million1 VAT registered businesses must comply with the requirements of Making Tax Digital. But the CIOT and ATT are warning businesses against making a false start with Making Tax Digital by signing up too early – the consequences of which can be hugely problematic for them and HMRC.
Commenting on today’s report1 from HM Treasury on time limits in the tax system, which focuses in particular on time limits for tackling offshore non-compliance and the charge on disguised remuneration loans, CIOT President Ray McCann said:
It is just a little over a week until most VAT registered businesses will be required to start complying with the requirements of Making Tax Digital and the ATT and CIOT caution businesses that HMRC’s promised ‘light touch’ on penalties does not extend to the late payment of tax.