This week’s UK tax tidbits, 25 November

A delay to the Scottish Budget and a proposed change to the rate of corporation tax in the UK feature this week. 

• In a speech to the CBI conference, Boris Johnson has announced that the corporation rate will remain at 19% from 1 April 2020 and will not now fall to 17% as planned
• The Scottish Budget will now not take place until after Christmas
• The conservative Party manifesto The high level guidance on Business Asset Rollover Relief has been updated
• HMRC has updated the list (List 3) of professional bodies and learned societies, approved by HMRC for the purpose of section 344 ITEPA 2003 (allowable deductions from earnings for fees and subscriptions paid to professional bodies/learned societies).
• Compliance checks: penalties for careless inaccuracies relating to tax avoidance CC/FS7c has been updated
• The latest HMRC performance statistics have been published: HMRC monthly performance report: September 2019 and HMRC quarterly performance update - July to September 2019