Technical News

 


We would like to say a big thank you to those who participated in the recent survey we undertook in relation to the roll out of Making Tax Digital (MTD) for VAT, and the future of MTD. 

The Tax Institute welcomes both international attendees and organised international delegations to The Tax Summit in March 2020.

We attach a message from Revenue Scotland and the Scottish Government announcing the publication of a document setting out the guiding principles underpinning the way in which they work together.

From 6 April 2020, where CGT is due on the disposal of UK residential property by a UK resident individual or trustees, a new standalone online return will need to be filed, together with payment on account of CGT, within 30 days of the date of completion of the transaction. (Finance Act 2019 Schedule 2).

On 20 January, HMRC shared the following information with us about exclusion cases, confirming the approach to submitting returns and making tax payments for 2018/19. As members will be well aware, the deadline for both is 31 January 2020.

HMRC have asked us to draw attention to their following notice about forthcoming Talking Points meetings.

The CIOT and the Country Landowners Association (CLA) are running a survey to gather evidence of the tax barriers faced by landowners when collaborating with their neighbouring landowners on potential housing developments.

Message from HMRC – 7 January 2020:

HMRC have asked us to draw attention to their following notice about forthcoming Talking Points meetings.

Draft regulations have been laid, taking effect from 10 January 2020, to implement the Customer Due Diligence aspects of 5MLD. Early in 2020 HMRC will consult on the technical detail of regulations to implement the TRS aspects.