2020-21 Update: UK Tax

by Sarah Laing
access120 days access
cpd hours4 CPD hours

This course will enable you to

  • Explore the new loan charge and upcoming reforms to off-payroll working rules (IR35 rules)
  • Understand what the new SBA includes and learn about the basics of COVID-19 support for the self-employed.
  • Stay up to date with the latest changes to the CGT payment rules and its treatment for cryptoassets
  • Learn about the VAT domestic reverse charge procedure and recognise the impacts of the coronavirus pandemic on VAT payments and MTD.

Hidden amongst all the chaos and change experienced during the pandemic, the annual Finance Bill has worked its way through parliament to become law in late July. The changes affect all areas of tax and many of its provisions apply retrospectively, so it is critical that we do not lose sight of the need to stay up to date.

This course will keep you up to date with all the changes in personal, business, capital and indirect taxes, along with the impact of COVID-19 on tax in the UK.

Personal tax

  • Loan charge repayments
  • What is the revised loan charge policy?
  • Should I choose a zero-emissions company car?
  • WLTP and NEDC
  • Employed or self-employed?
  • Off-payroll working rules from April 2021
  • Employer-provided interest-free loans

Business tax

  • Changes to the employment allowance
  • Corporate loss restriction
  • Structures and buildings capital allowances
  • What are qualifying activities for SBA claims?
  • COVID-19 support for the self-employed

Capital taxes

  • Capital gains tax on cryptoassets
  • What is the CGT treatment for cryptoassets?
  • Annual exemption update
  • How are annual exemptions and losses dealt with?
  • Changes to the CGT payment rules
  • Gifts of property between spouses

Indirect taxes

  • VAT: Domestic reverse charge provisions
  • Construction services
  • Stamp duty on share transactions
  • Stamp duty administration
  • VAT on digital publications
  • HMRC and the Upper-tier Tribunal
  • COVID-19 support: Deferring VAT payments
  • Is MTD for VAT affected by coronavirus?

Sarah Laing is a Chartered Tax Adviser. She has been writing professionally since 1998 when she joined CCH Editions as a Senior Technical Editor, contributing to a range of highly regarded publications including the British Tax Reporter. She became Publishing Manager for the tax and accounting portfolio in 2001 and later went on to help run CCH Seminars (including ABG Courses and Conferences).

Sarah originally worked for the Inland Revenue in Newbury and Swindon Tax Offices, before moving out into practice in 1991. She has worked for both small and Big 5 firms, and now works as a freelance author providing technical writing services for the tax and accountancy profession.

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