Five things you need to know about tax, 20 November 2020

Irish stories this week, Revenue sent letters to taxpayers participating in the VAT and Employer PAYE tax debt warehousing scheme, giving 28 days for outstanding information to be provided. In UK developments, compulsory professional indemnity insurance, which was one of the NI Tax Committee’s recommendations, is one of the next steps in HMRC’s tax advisers project. While in international tax, the OECD published the 2020 edition of Revenue Statistics in Africa.

     Ireland

1. Revenue is issuing letters to taxpayers in the VAT and Employer PAYE tax debt warehousing scheme to tell them that all is in order or highlight information outstanding that needs to be provided in 28 days;
2. There are a number of Revenue supports in place in the days leading up to the 10 December income tax deadlines;

   UK

3. Compulsory professional indemnity insurance is the next step in HMRC’s tax advisers project;
4. More guidance has been provided on the further extension to the job retention scheme; and  

   International

5. The OECD published the 2020 edition of Revenue Statistics in Africa, providing an overview of the main taxation trends in 30 countries and also including a special feature on COVID-19 domestic resource mobilisation.