In brief: 20 February 2020

Making tax digital

HMRC has confirmed that sole traders and UK-resident landlords can sign up to making tax digital for income tax using compatible software to keep digital records and send income tax updates instead of filing self-assessment tax returns.

Negligible value

HMRC has accepted ordinary 5p shares in Weatherly International plc as having negligible value for capital gains tax purposes under TCGA 1992 s 24(2). The effective date is 29 Jul 2018.

Employer related securities bulletin

The February edition of HMRC’s Employer related securities bulletin includes articles on: enterprise management incentives state aid approval during the transition period; registering new employment related securities schemes; ceasing schemes; and HMRC contact details.

Short-term business visitors

The Income Tax (PAYE) (Amendment) Regulations SI 2020/88 introduce changes to the special arrangement for short-term business visitors from overseas branches of UK companies. From 6 April 2020 ...