Five things you need to know about tax, 4 June 2021

In Irish tax developments, businesses in the Debt Warehousing Scheme are reminded that there is no immediate requirement to pay warehoused tax debts on the resumption of trading, and support is now available for businesses operating from non-rateable premises who are ineligible for the Covid Restrictions Support Scheme (CRSS). On the UK front, we want to hear your views on the latest Tax Advisers Consultation. While in international tax, the European Union’s new financial programme aimed at supporting tax authorities enhance the functioning of the internal EU market entered into force last week.  

     Ireland

1. Revenue is reminding businesses resuming trading that there is no immediate requirement to pay warehoused debts;
2. Eligibility for the Small Business Assistance Scheme for COVID (SBASC) is extended to include businesses operating from a non-rateable premise;

   UK

3. The latest Tax Advisers consultation is seeking views on the proposal to require tax advisers to have PII and on the definition of tax advice – read more and let us know your views;
4. Read about HMRC’s compliance approach to businesses who are not operating Making Tax Digital for VAT when they should be; and

   International

5. The European Union’s new financial programme 2021-2027 aiming to support tax authorities enhance the functioning of the internal EU market and foster EU competitiveness and fair competition launched last week.

Keep up to date with all the latest Irish, UK, and international tax developments through Chartered Accountants Ireland’s Tax Newsletter.