Five things you need to know about tax, 22 January 2021

Jan 22, 2021

This week, in Irish tax stories, Revenue published advice for PAYE taxpayers in an underpayment position to assist TWSS and PUP recipients who received their Preliminary End of Year statement last week. In UK developments, HMRC provided information about late filing penalties in the context of corporate interest restriction returns. While in international tax, the European Commission seeks feedback on an initiative to introduce a digital levy.    

    Ireland

  1. Revenue published advice for PAYE taxpayers in an underpayment position, which may assist TWSS or PUP recipients with a Preliminary End of Year Statement for 2020 showing an underpayment of tax;
  2. Read about the National Remote Working Strategy published last week which notes plans to address tax arrangements for remote working;  

    UK

  3. This week’s update on the job retention is available which confirms that publication of employer details commences from 26 January;
  4. Read the message provided by HMRC on late filing penalties in the context of interest restriction returns; and

    International

  5. The European Commission is seeking feedback on an initiative to introduce a digital levy, which is separate from the G20 and the OECD’s ongoing work to address digital economy tax challenges.