This week’s UK tax tidbits, 29 April 2019

Apr 29, 2019

Updated forms and guidance feature this week.

  • Agent Update 71 has recently been published.
  • The latest Employer Bulletin is available.
  • Use updated form P11D WS5 if you're an employer and need to work out the cash equivalent of providing relocation expenses and benefits to an employee.
  • Local authorities and similar bodies (VAT Notice 749) has been updated.
  • SI 2019 No. 658 The Tonnage Tax (Exception of Financial Year 2019) was issued on 25 March. This confirms that the UK’s tonnage tax flagging test will not have effect in financial year 2019.
  • As promised at Budget 2018, HMRC have now published a consultation document entitled ‘Preventing abuse of the R&D tax relief for SMEs’. To help prevent abuse of the SME scheme, the amount of payable tax credit that a qualifying loss-making business can receive through the relief in any one accounting period will be capped
  • The guidance to use the online service for pension scheme administrators and practitioners has been updated.
  • The list of professional bodies approved for tax relief has been updated.
  • Details of the latest phishing scams have been published – HMRC have also issued a press release highlighting some particular scams targeted at the young and elderly.