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A round up of topical news articles.
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05 Dec 2020
It is time to prepare for the end of the Brexit transitional period.
HMRC has confirmed that they will accept a virtual Christmas party as an event which is capable of falling within the tax exemption rules for annual functions.
Some employers may wish to give a small gift to their employees. As long as the employer meets the relevant conditions, no tax charge will arise on the employee.
Increased minimum wage rates have been announced to take effect from 1 April 2021.
New company car advisory fuel rates have been published and took effect from 1 December 2020.
HMRC is warning self assessment taxpayers to be alert to the danger of scammers posing as the tax authority in the lead up to the tax return deadline.
In a new consultation HMRC has confirmed that Making Tax Digital for corporation tax will not be implemented until 2026 'at the earliest'.
The Treasury has confirmed that the £1 million cap on the Annual Investment Allowance (AIA) is to be extended for an additional year as the government continues to look at ways to stimulate the economy.
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