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In brief: 30 July 2020

28 July 2020
Issue: 4754 / Categories: News

Finance Bill

The government has published draft provisions to be included in Finance Bill 2020-21 together with explanatory notes other supporting documents and consultations.

Royal assent

The Finance Bill 2020 and the Stamp Duty Land Tax (Temporary Relief) Act 2020 received royal assent on 22 July.

VAT – Brexit

HMRC has published a paper detailing changes to the VAT treatment of overseas goods sold to UK customers from 1 January 2021 – when the Brexit transition period ends.

Tax credits

Tax credit claimants whose circumstances have changed in the past year or who have received a letter to reconfirm their income details must contact HMRC before 31 July. Failure to do so may result in claimants receiving incorrect payments and having to repay any overpayments.

Trust registration

HMRC has amended the guidance for the trust registration service updating the trust details and declarations...

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