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Tax Update 2021

Tax Update 2021

What is it?
Who's it for?
Extras
Table of contents

A Tips & Advice Special Report about...

In a nutshell

This Special Report includes announcements on and changes to UK tax law and those in the pipeline up to and including the Finance Act 2019 and Finance Bill 2020. It includes new measures for all the main taxes as well as anti-avoidance legislation. It explains the most important changes in plain English with examples to help you apply them in practice. Using our practical advice will help you avoid costly traps.

In detail

Our Special Report looks at all the key aspects of the latest changes including:

Deferred payments and other coronavirus tax measures
IR35 and off-payroll contracts – effects of the new delay
Name change and new rules for entrepreneurs’ relief
New reporting and payment requirements for CGT
Latest news on the loan charge
Changes to the rate and conditions of the employment allowance
Company cars - new zero and low rate charges for low emissions
Increased rate for homeworking allowance
Extension of the intangible fixed assets regime
Revised rules for pension annual allowance tapering
Construction industry VAT scheme
VAT – EU cross border transactions
New ISA limits

With this Special Report, you'll know the dos and don'ts and the the consequences of the new rules for you and your business. It's all you need to play it safe without paying a penny more in tax than you have to.

We've created this Tips & Advice Special Report especially for...

Company owners and directors, in-house accountants and individuals that want to:

Get a clear view of the new tax rules
Keep their business and/or personal tax bill down

Tax advisors and accountants that want to:

Get to grips with the new tax rules
Help their clients save tax

You'll get the following free extras with this Tips & Advice Special Report...

An online service with ready-to-use documents

To immediately apply our advice and solutions in practice
That you can easily adapt to suit your own requirements

In this Tips & Advice Special Report you'll read about...

Business taxes

Self-assessment tax payments

Corporation tax (CT) rate

Off-payroll working (IR35)

Capital allowances

Research and development credit

Intangible fixed assets

Companies - carry forward losses

Losses due to coronavirus

Personal taxes

Income tax rates and allowances 2020/21

Scottish taxpayers

Welsh taxpayers

National Insurance contributions

Pensions

Top slicing relief on income gains

Tax efficient investments

HMRC rate of interest

Loan charge

Expatriates

Employment taxes

Employment allowance

Termination payments

Student and postgraduate loans

Care leavers

Flat rate expenses tax deduction

NI holiday for employers of veterans

Therapy exemption - minor benefits

Capital gains tax

Annual exemption

Entrepreneurs’ relief

Property gains

Property taxes

Individuals

Companies

VAT

Deferred VAT payments

VAT returns

Making Tax Digital - digital links

VAT and digital publications

Reverse charge for builders

UK EU cross border transactions

VAT agricultural flat rate scheme

Other tax changes

Automatic issue of HMRC notices etc.

Limited liability partnerships

Vehicle excise duty (VED) rates for cars etc.

Appendices

Appendix 1 – Table of income tax rates

Appendix 2 – NI rates and thresholds

Appendix 3 – Guidance on the defnition of threshold and total adjusted income

Appendix 4 – Template elections

Appendix 5 – Intra-EU supplies

Appendix 6 – VED rates

Publication date: Apr 8, 2020

For all taxpayers and their advisors
Features coronavirus tax measures
Includes Finance Act 2019 and Finance Bill 2020
Covers new rules, exemptions and tax-planning strategies
Including online service with ready-to-use documents
Free UK delivery