HMRC has published guidance to illustrate the control test in its ‘onshore employment intermediaries’ consultation for determining the employment status of workers under the revised agency legislation.
Preventing charities being used for tax avoidance
HMRC is seeking views on approaches to prevent charities being set up for tax avoidance, consulting on two alternative versions of a draft anti-avoidance clause aimed specifically at charities. One version would exclude charities for whom obtaining a tax advantage was ‘one of the main purposes’ for their establishment; the second, narrower version would apply where obtaining a tax advantage was the ‘main purpose’. Comments should be sent by 11 April 2014. A PDF of the discussion paper can be found on HMRC’s website.
National Insurance Contributions Act 2014
Following agreement by both Houses on the text of the National Insurance Contributions Bill, it received Royal Assent on 13 March. Measures legislated in the Act include the modification of the GAAR to target NIC arrangements that are regarded as abusive, rules about offshore employment intermediaries and limited liability partnerships, as well as repealing two redundant class 4 NIC reliefs, retrospectively disregarding armed forces early departure payments from liability to NIC, and minor changes to the Social Security Contributions and Benefits Act 1992 (and the SSCB (Northern Ireland) Act 1992).
Tax-free childcare
The responses to the discussion document Tax -free childcare: consultation on design and operation were published on 18 March. The tax-free childcare scheme will provide 20% of working families’ childcare costs, up to £2,000 per year for each child. The consultation response sets out more details of the scheme, due to launch in autumn 2015.
VAT fuel scale charges
HMRC has published, in PDF form on its website, its list of VAT fuel scale charges effective from 1 May 2014. Businesses must use the new scales from the start of the next prescribed accounting period that begins on or after 1 May 2014.
VAT notes
HMRC has issued Revised VAT notice 700/63: Electronic invoicing, replacing the June 2007 version. The notice has been updated to reflect the changes in invoicing regulations of 2013. It also contains revised content to reflect the technological advances since the previous version.
Stamp taxes on growth market securities guidance
From 28 April 2014, the government is abolishing stamp taxes on purchases of securities on recognised growth markets. Applications for approval of ‘recognised growth market’ status from 28 April 2014 should be submitted to HMRC by the end of March 2014. HMRC has published revised guidance, Abolition of stamp duty and SDRT: securities admitted to trading on recognised growth markets, in PDF form on its website.
Double tax conventions signed with Germany and Belgium
A protocol to the Double Taxation Convention between the UK and Germany was signed in London on 17 March 2014. In addition, a second protocol to the Double Taxation Convention between the UK and Belgium was signed in London on 13 March 2014.
HMRC has published guidance to illustrate the control test in its ‘onshore employment intermediaries’ consultation for determining the employment status of workers under the revised agency legislation.
Preventing charities being used for tax avoidance
HMRC is seeking views on approaches to prevent charities being set up for tax avoidance, consulting on two alternative versions of a draft anti-avoidance clause aimed specifically at charities. One version would exclude charities for whom obtaining a tax advantage was ‘one of the main purposes’ for their establishment; the second, narrower version would apply where obtaining a tax advantage was the ‘main purpose’. Comments should be sent by 11 April 2014. A PDF of the discussion paper can be found on HMRC’s website.
National Insurance Contributions Act 2014
Following agreement by both Houses on the text of the National Insurance Contributions Bill, it received Royal Assent on 13 March. Measures legislated in the Act include the modification of the GAAR to target NIC arrangements that are regarded as abusive, rules about offshore employment intermediaries and limited liability partnerships, as well as repealing two redundant class 4 NIC reliefs, retrospectively disregarding armed forces early departure payments from liability to NIC, and minor changes to the Social Security Contributions and Benefits Act 1992 (and the SSCB (Northern Ireland) Act 1992).
Tax-free childcare
The responses to the discussion document Tax -free childcare: consultation on design and operation were published on 18 March. The tax-free childcare scheme will provide 20% of working families’ childcare costs, up to £2,000 per year for each child. The consultation response sets out more details of the scheme, due to launch in autumn 2015.
VAT fuel scale charges
HMRC has published, in PDF form on its website, its list of VAT fuel scale charges effective from 1 May 2014. Businesses must use the new scales from the start of the next prescribed accounting period that begins on or after 1 May 2014.
VAT notes
HMRC has issued Revised VAT notice 700/63: Electronic invoicing, replacing the June 2007 version. The notice has been updated to reflect the changes in invoicing regulations of 2013. It also contains revised content to reflect the technological advances since the previous version.
Stamp taxes on growth market securities guidance
From 28 April 2014, the government is abolishing stamp taxes on purchases of securities on recognised growth markets. Applications for approval of ‘recognised growth market’ status from 28 April 2014 should be submitted to HMRC by the end of March 2014. HMRC has published revised guidance, Abolition of stamp duty and SDRT: securities admitted to trading on recognised growth markets, in PDF form on its website.
Double tax conventions signed with Germany and Belgium
A protocol to the Double Taxation Convention between the UK and Germany was signed in London on 17 March 2014. In addition, a second protocol to the Double Taxation Convention between the UK and Belgium was signed in London on 13 March 2014.
