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Our lead article looks at an important change for the construction industry: the introduction of the VAT domestic reverse charge. The charge takes effect from 1 October 2019, and will mean significant changes in invoicing and VAT return procedures for those involved.
Capital expenditure is an important area for every business. There have been several changes to the capital allowances regime over recent months.
The ‘off-payroll’ or ‘IR35’ rules have been adapted considerably since they were first introduced, and Autumn Budget 2018 announced further change to come. Our lead article provides an update in this area.
The government has published the draft legislation for the next Finance Bill including the rules for off-payroll working in the private sector.
From April 2020, the government will introduce a new 2% tax on the revenues of search engines, social media platforms and online marketplaces which derive value from UK users.
From 6 April 2020, insolvency legislation will be amended to move HMRC up the creditor hierarchy for the distribution of assets in the event of insolvency.
The government published draft legislation for the next Finance Bill including draft clauses on the changes to Private Residence Relief .