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  • OTS recommended changes to IHT

OTS recommended changes to IHT

The Financial Secretary to the Treasury has written to the Office of Tax Simplification (OTS) to confirm that HM Treasury strongly supports some key recommendations on changes to

OTS recommended changes to IHT
  • £1.5bn boost for rates relief

£1.5bn boost for rates relief

A new Business Rates relief fund will provide a £1.5 billion tranche of support to businesses outside the retail, hospitality, and leisure sectors affected by COVID-19. Retail,

£1.5bn boost for rates relief
  • New support for High Streets and sea-side towns

New support for High Streets and sea-side towns

As lockdown measures begin to be eased, a new package of support measures to help high streets and coastal areas across England has been announced by the Communities Secretary

New support for High Streets and sea-side towns
  • 5% late penalties apply from 1 April 2021

5% late penalties apply from 1 April 2021

Self-Assessment taxpayers that failed to pay their outstanding tax liabilities or set up a payment plan by midnight on 1 April 2021 will be charged a 5% late payment penalty

5% late penalties apply from 1 April 2021
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