Today’s UK tax tidbits, 20 July 2020

With rumours abounding that the Chancellor is considering increasing capital gains tax  (“CGT”) in a future budget, the Office of Tax Simplification has launched a call for evidence and survey reviewing CGT. The NI Tax Committee published a CGT complexity discussion paper in November 2019; 

The following factsheets have been updated:- Compliance checks: publishing details of deliberate defaulters – CC/FS13, Compliance checks for large and complex businesses (CC/FS1c), Compliance checks: excise matters - CC/FS1d, Compliance checks: Excise visits - CC/FS16, and Compliance checks: tax avoidance schemes - penalties for follower notices - CC/FS30a; 

The Trusts and estates toolkit has been updated; 

The list of tax avoidance schemes on which users may be charged an upfront tax payment (an accelerated payment) has been updated; 

CWG2: further guide to PAYE and National Insurance contributions has been updated; and 

The guidance on the employer’s allowance has been updated.