In brief: 30 January 2020

27 January 2020

Issue: 4729 / Categories: News

Employment allowance

The draft Employment Allowance (Excluded Persons) Regulations 2020 will restrict the allowance to employers with a class 1 National Insurance liability below £100 000 in the preceding tax year with effect from April 2020. The allowance will no longer be carried forward from one tax year to the next and employers will have to submit a fresh claim every year.

tinyurl.com/drsiempall

Non-UK resident companies

HMRC has published a guide on the new requirement for non-UK resident companies carrying on a UK property business or receiving other UK property income to pay corporation tax from April 2020 (FA 2019 Sch 5).

tinyurl.com/hmrcnrcljan

Stamp taxes

The January edition of HMRC’s Stamp Taxes Newsletter includes articles on the definition of dwelling; enabling electronic repayments; Welsh land transaction tax payments; multiple properties in returns; leases of varying lengths; hybrid capital instruments; cryptoassets; and penalties.

tinyurl.com/hmrcstnjan20

VAT retail schemes

Notice 727/4: Apportionment VAT...

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