What can we expect from the 2020 Budget?

The Chancellor of the Exchequer, Sajid Javid, will deliver the 2020 Budget on Wednesday 11 March. With this in mind, here we consider some of the measures that may be announced. No rise in income tax or VAT rates In its election manifesto, the Conservative Party stated it is committed to building a tax system

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New AML Regulations Published

The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 were laid before Parliament on 20 December 2019 and, with a couple of exceptions, come into force on 10 January 2020. These Regulations amend rather than replace the 2017 Regulations. As with the 2017 Regulations the amendments have been issued with very little time to implement

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Government launches review of IR35 changes

The Government has launched a review of the draft legislation extending the off-payroll rules to the private sector from April 2020. The review, which responds to widespread concerns, is expected to conclude by mid-February and the Government will launch a separate review of support for the self-employed, to ensure they are not impacted by the

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Brexit: Implementation period

The leaders of the UK and European Union signed the Withdrawal Agreement, and the UK officially left the EU on 31 January 2020. However the UK then enters an implementation period during which time it is ‘business as usual’, with the UK covered by EU rules until the end of the year. By 2021 the

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VAT claim on company cars allowed

HMRC recently lost a first tier tribunal case on the recovery of VAT on the purchase of six cars. Although most VAT registered businesses are able to recover the VAT on the purchase of commercial vehicles the rules for the recovery on a car state two conditions must be met:

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