Offshore employment intermediaries; call for partnership changes to be deferred; CIRD manual update; Transfer of assets abroad; Tax-free childcare; Discounted gift schemes; VAT guide; Island fuel duty relief; Negligible value securities; new approach to supporting HMRC customers; DOTAS
HMRC has published draft legislation for Finance Bill 2014, which will require offshore employers who supply UK workers to UK businesses to operate PAYE in respect of those workers. The government consulted on these proposals in a document published on 30 May; the consultation period has just ended. The corresponding NIC legislation was published in the draft National Insurance Contributions Bill on 17 July.
City solicitors call for partnership changes to be deferred
The City of London Law Society has responded to HMRC’s consultation on disguised employment and profit and loss allocation schemes in relation to partnerships by calling for any changes to be delayed until April 2015.
HMRC CIRD manual update
HMRC updated its Corporate Intangibles Research and Development Manual to include a section on the new disincorporation relief available from 1 April 2013.
Transfer of assets abroad: draft guidance
HMRC has published an exposure draft of guidance on the transfer of assets abroad legislation, to replace the current guidance in the department’s International Tax Manual. Comments are invited on the draft guidance by 10 October 2013, as part of the consultation on proposed changes to the matching rules published on 18 July.
Tax-free childcare consultation
HMRC has published a consultation seeking views on the government’s plans to introduce tax-free childcare for working families and additional assistance with childcare for parents through universal credit, where tax-free childcare will provide 20% of working families’ childcare costs up to £1,200 for each child. The consultation closes on 14 October 2013.
Discounted gift schemes
HMRC has published Revenue & Customs Brief 22/13, which sets out the department’s view on how to calculate the value that will be subject to inheritance tax for a discounted gift scheme held in a relevant property trust when the ten year anniversary charge arises for the trust. It also provides updated guidance on how the transfer value is to be calculated when a discounted gift scheme is effected including providing clarification and revisions to the assumptions underlying the valuation.
HMRC’s VAT guide
HMRC has issued a revised version of Notice 700: The VAT Guide, replacing the May 2012 version. Details of the main changes to the previous version can be found in paragraph 1.2.
Island fuel duty relief
The government is to seek permission from the European Commission to extend the island fuel rebate scheme to a number of remote rural areas in the UK. Fuel retailers in these areas are being invited to supply pump price data for the last quarter of 2012.
Negligible value securities: HMV
During June 2013, HMRC accepted the securities of HMV Media Group PLC (Ords) as having negligible value for the purposes of a claim under TCGA 1992 s 24(2).
Views on HMRC’s new approach to supporting customers who need extra help
HMRC has published a summary of responses received to its consultation on proposals to close its network of enquiry centres and replace them with mobile advisers providing face-to-face help and other services for taxpayers with particular needs, which ran between March and May 2013. A final decision on whether to go ahead with the new approach will be made in early 2014. A pilot for the new services is running in the North East until October 2013.
DOTAS: SRN update
HMRC has updated the list of avoidance scheme reference numbers (SRN) for which the duty on promoters and/or clients to notify the SRN to clients and parties respectively no longer applies. The effective dates for the latest group of changes are 28 June 2013, 8 July 2013 and 30 July 2013.
Offshore employment intermediaries; call for partnership changes to be deferred; CIRD manual update; Transfer of assets abroad; Tax-free childcare; Discounted gift schemes; VAT guide; Island fuel duty relief; Negligible value securities; new approach to supporting HMRC customers; DOTAS
HMRC has published draft legislation for Finance Bill 2014, which will require offshore employers who supply UK workers to UK businesses to operate PAYE in respect of those workers. The government consulted on these proposals in a document published on 30 May; the consultation period has just ended. The corresponding NIC legislation was published in the draft National Insurance Contributions Bill on 17 July.
City solicitors call for partnership changes to be deferred
The City of London Law Society has responded to HMRC’s consultation on disguised employment and profit and loss allocation schemes in relation to partnerships by calling for any changes to be delayed until April 2015.
HMRC CIRD manual update
HMRC updated its Corporate Intangibles Research and Development Manual to include a section on the new disincorporation relief available from 1 April 2013.
Transfer of assets abroad: draft guidance
HMRC has published an exposure draft of guidance on the transfer of assets abroad legislation, to replace the current guidance in the department’s International Tax Manual. Comments are invited on the draft guidance by 10 October 2013, as part of the consultation on proposed changes to the matching rules published on 18 July.
Tax-free childcare consultation
HMRC has published a consultation seeking views on the government’s plans to introduce tax-free childcare for working families and additional assistance with childcare for parents through universal credit, where tax-free childcare will provide 20% of working families’ childcare costs up to £1,200 for each child. The consultation closes on 14 October 2013.
Discounted gift schemes
HMRC has published Revenue & Customs Brief 22/13, which sets out the department’s view on how to calculate the value that will be subject to inheritance tax for a discounted gift scheme held in a relevant property trust when the ten year anniversary charge arises for the trust. It also provides updated guidance on how the transfer value is to be calculated when a discounted gift scheme is effected including providing clarification and revisions to the assumptions underlying the valuation.
HMRC’s VAT guide
HMRC has issued a revised version of Notice 700: The VAT Guide, replacing the May 2012 version. Details of the main changes to the previous version can be found in paragraph 1.2.
Island fuel duty relief
The government is to seek permission from the European Commission to extend the island fuel rebate scheme to a number of remote rural areas in the UK. Fuel retailers in these areas are being invited to supply pump price data for the last quarter of 2012.
Negligible value securities: HMV
During June 2013, HMRC accepted the securities of HMV Media Group PLC (Ords) as having negligible value for the purposes of a claim under TCGA 1992 s 24(2).
Views on HMRC’s new approach to supporting customers who need extra help
HMRC has published a summary of responses received to its consultation on proposals to close its network of enquiry centres and replace them with mobile advisers providing face-to-face help and other services for taxpayers with particular needs, which ran between March and May 2013. A final decision on whether to go ahead with the new approach will be made in early 2014. A pilot for the new services is running in the North East until October 2013.
DOTAS: SRN update
HMRC has updated the list of avoidance scheme reference numbers (SRN) for which the duty on promoters and/or clients to notify the SRN to clients and parties respectively no longer applies. The effective dates for the latest group of changes are 28 June 2013, 8 July 2013 and 30 July 2013.
