Reverse charge VAT for builders delayed

Reverse charge VAT for construction services has been delayed by a year, just three weeks before it was due to take effect. The way VAT is collected in the building and construction industry was due to change on 1 October 2019. Industry campaigners had expressed...

New prompt payment rules take effect

Large companies that pay late will now be excluded from winning Government contracts, following new prompt payment rules that came into force on 1 September 2019. The policy, which was first announced in November 2018, applies to contracts worth more than £5 million a...

Chancellor announces spending plans

Chancellor Sajid Javid has announced an additional £13.8 billion day-to-day spending on Government departments for 2020/21. In the Spending Review on 4 September 2019, the Chancellor said he was "turning the page on austerity", increasing funding for areas including...

Self-employed owe £1.6bn to HMRC

Self-assessment taxpayers owe HMRC more than £1.6 billion in late payments relating to their 2017/18 tax bills. The deadline for 2017/18 submissions came and went on 31 January 2019, with more than 11.5 million taxpayers beating the midnight cut-off. Despite a record...

Expats get state pension uprating until 2023

Annual state pension increases for expats living in Europe will only be guaranteed for the next three years, if the UK leaves the EU without a deal. The Department for Work and Pensions (DWP) confirmed plans to annually increase the pension benefit to UK expats until...