HMRC is consulting until 31 March 2016 on draft regulations setting out the detailed information banking companies must include when they provide HMRC with written notification of their banking surcharge payments. F(No. 2)A 2015 introduced an 8% surcharge on the profits of banks and building societies for accounting periods beginning on or after 1 January 2016. The surcharge is paid alongside a company’s liability to corporation tax. This information includes the:
· accounting period to which the surcharge payment relates;
· unique tax reference (if provided by HMRC) under which the surcharge payment is made;
· date on which the company intends to make the payment, where notification is provided before payment is made; and
· details in respect of any reallocation requests.
HMRC is consulting until 31 March 2016 on draft regulations setting out the detailed information banking companies must include when they provide HMRC with written notification of their banking surcharge payments. F(No. 2)A 2015 introduced an 8% surcharge on the profits of banks and building societies for accounting periods beginning on or after 1 January 2016. The surcharge is paid alongside a company’s liability to corporation tax. This information includes the:
· accounting period to which the surcharge payment relates;
· unique tax reference (if provided by HMRC) under which the surcharge payment is made;
· date on which the company intends to make the payment, where notification is provided before payment is made; and
· details in respect of any reallocation requests.
