gdb members - Blackman Terry Tax News

Published: 08 Oct 2019

Brexit-readiness events for business 

The Department for Business has launched a nationwide programme of events to help businesses prepare for Brexit.

The free events are designed to provide free advice on a range of Brexit-related topics, including exporting, importing and employing EU citizens. Attendees will also have the opportunity to hear from senior government officials and access support tailored to their location and business.

For more information: 

https://www.blackmanterry.co.uk/2019/10/brexit-readiness-events-for-business/

Insolvency debt warning 

Prioritising HMRC over other creditors in insolvencies will have a ‘negative impact on the UK’s economic growth’, experts have warned Chancellor of the Exchequer Sajid Javid.

To see full article: 

https://www.blackmanterry.co.uk/2019/10/experts-warning-over-insolvency-debts/

Senior clinicians pension

The government has launched a consultation on proposals to give senior NHS doctors and nurses access to more flexible pensions. The proposals aim to offer senior clinicians more control over their pensions growth.

To see full article: 

https://www.blackmanterry.co.uk/2019/10/senior-clinicians-pensions-consultation/

VAT domestic reverse charge delayed 

HMRC has announced a one-year delay to the introduction of the VAT domestic reverse charge for building and construction services.

The reverse charge represents part of a government clamp-down on VAT fraud. According to the government, large amounts of VAT are lost through ‘missing trader’ fraud. As part of missing trader fraud, VAT is charged by a supplier, who then disappears, along with the output tax. The VAT is thus lost to HMRC. The construction industry is considered a particularly high-risk sector.

To see full article: 

https://www.blackmanterry.co.uk/2019/10/vat-domestic-reverse-charge-for-building-and-construction-services-delayed/

Money Laundering non-compliance 

HMRC has published details of businesses that have failed to comply with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

To read more on this article: 

https://www.blackmanterry.co.uk/2019/10/money-laundering-non-compliance/

HMRC collects record amounts of IHT 

The government has announced that HMRC collected a record sum of £5.4 billion in inheritance tax (IHT) during the 2018/19 tax year.

The increase comes on the back of a 15% rise in the number of estates liable for IHT. Between 2015/16 and 2016/17, the number of estates paying IHT rose by 3,600 to 28,100.

To read more: 

https://www.blackmanterry.co.uk/2019/10/hmrc-collects-record-amounts-of-iht/

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