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HMRC: Self Employed – Making sure Class 2 National Insurance is included in Self-Assessment calculations

Ever since the collection of Class 2 National Insurance Contributions (NICs) changed from a separate, regular payment system to being part of the self-assessment tax return in July 2015, agents and their clients have experienced a number of calculation and payment issues.

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Tax Credit Renewals

HMRC have provided us with the following update on Tax Credit Renewals.

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Corporation tax quarterly instalment payments

HMRC has reviewed and updated its guidance at CTM92650. This guidance covers early repayments of corporation tax quarterly instalment payments in response to receipt of a number of claims and requests from taxpayers, agents and professional bodies. 

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Practice Statement on Alternative Dispute Resolution (ADR) in Tax Disputes

The First-tier Tribunal published a practice statement on 15 June 2020 which sets out the Tribunal’s practice in appeals against HMRC decisions where the parties wish to engage in ADR after an appeal has been made to the Tribunal. 

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Deemed domicile trust protections - offshore income gains

Update : Action group of affected taxpayers

The CIOT understands that a group of affected taxpayers and their advisers are forming an action group with a view to taking a test case on this issue to the First-tier Tribunal. Advisers with clients affected who are interested in joining the group should contact Jennifer.Smithson [at] Macfarlanes.com

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Report and pay Capital Gains Tax on UK property – non-residents who cannot set up a Government Gateway account

From 6 April 2020 non-residents who are required to report direct disposals of residential and non-residential UK property or land need to create a Capital Gains Tax (CGT) on UK property account to report and pay the tax within 30 days of completion of the transaction.

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COVID-19 support – Dentists’ non-NHS work

HMRC have confirmed that overall as long as they meet the criteria for the Coronavirus Job Retention Scheme (CJRS) and the Self-employment Income Support Scheme (SEISS), dentists can claim on the basis that they have income from non-NHS work. 

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The Tax Chamber is Open for Business

We have received a statement from the Chamber President, Judge Sinfield, advising that the Tax Chamber is open for business. 

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New exemption for COVID-19 related reimbursed home office expenses

The Financial Secretary to the Treasury has today announced that the reimbursement of expenses that would be for home office equipment are exempt from tax. The relevant Regulations are to be laid next week, and will have effect for the 2019-20 (from 16 March 2020 only) and 2020-21 tax years.

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Save and return function added to CJRS, and how to avoid common mistakes

HMRC has provided us with some updates to the Coronavirus Job Retention Scheme, including the ability to save and return to partially completed claims, and how to avoid common mistakes that can lead to a wrong or delayed payment.

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