HMRC has published an updated list of authorised ISA managers. The list was updated on 24 February 2021. Inclusion on the list means that HMRC is satisfied that the person, firm or company concerned is able to manage ISAs satisfactorily. However, HMRC has not approved any ISA that the ISA manager may offer. Potential investors

Many of the tax changes announced are for a fixed period, generally, from April 2021 to April 2026. This does provide welcome certainty for businesses. Announcements made include: Income Tax 2021-22 to 2025-26 The basic rate threshold is increasing to £37,700 for 2021-22 (2020-21: £37,500) and then frozen until April 2026. For the same period,

We would do well when advising clients on planning matters, as we hopefully emerge from lockdown, to consider the criteria that Government has set that will determine when and if we do emerge. Here’s what Boris Johnson said when he announced the current four step approach to easing lockdown last month: Supported by the increased

A new 2021 protocol amending the 2015 Sweden-UK Double Tax Convention (DTC) was signed on 12 January 2021 in London. The protocol was signed by Jesse Norman MP for the UK Government and by Torbjörn Sohlström on behalf of the Government of the Kingdom of Sweden. The protocol will introduce a number of changes including amendments

Companies House issued a news story – updated February 2021 – entitled “Say thank you to someone at Companies House”. In a bold request they say: If you’d like to say thanks and tell us about a person or team at Companies House who has given you a brilliant level of service – send your

Input tax is often claimed in error on the provision of business entertainment. This includes, for example, the provision of hospitality or entrance to theatres, concerts and sporting events, and similar expenditure. Input tax cannot be claimed on business entertainment provided to anyone other than employees or overseas customers. While input tax may be recovered

HMRC publish a range of factsheets that can be issued to taxpayers during a compliance check. There are various rules and powers which apply to HMRC compliance checks (formerly known as enquiries, visits and inspections) across almost all taxes administered by HMRC. These rules include the alignment of time limits for making tax assessments and

Accountants are not customs experts nor would they have the time to increase their skills to cope with the multitude of tasks that the UK’s exit from the EU has created. It is interesting to note that there are no dramatic hold-ups at Channel crossings, not because the transition was seamless, but because the red-tape

Taxpayers can make a negligible value claim when an asset they own has become of negligible value i.e., worthless or worth next to nothing. The taxpayer effectively treats the asset as having been disposed of and then immediately reacquired at the negligible value. The asset must still be owned by the person making the claim

The following posts have been made to the GOV.UK website and clarify, somewhat, the status of your professional qualification not only in the EU, but also: Switzerland, Norway, Iceland and Liechtenstein. Recognition of professional qualifications Authorities responsible for professional qualifications in the UK and EU member states can submit joint recommendations to the UK-EU Partnership