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Trusts: HMRC withdraw acknowledgement letters

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Tax News - Capital Taxes
Written by Sarah Laing   
Monday, 29 June 2009 19:44

HMRC Trusts department has advised that the letters formerly issued to acknowledge that a return has been processed without needing to repair or amend it, have been withdrawn.

HMRC Trusts have until now sent an acknowledgement letter to agents following the processing of a paper return where the taxpayer has self-calculated their liability and they had no reason at that stage to revise the calculation. The wording on the acknowledgement letter read, 'Your client’s trust tax return for the year 2007-2008 has been processed without any revision'.

In future, HMRC Trusts will no longer issue a letter following the processing of a return where they had no reason to revise the calculation. This will bring HMRC Trusts into line with the rest of HMRC processing.

 

Latest IHT and Trusts Newsletter available

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Tax News - Capital Taxes
Written by Sarah Laing   
Wednesday, 20 August 2008 13:18

The August 2008 edition of HMRC's IHT and Trusts Newsletter is now available.

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Government set to announce further CGT changes

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Tax News - Capital Taxes
Written by Sarah Laing   
Thursday, 24 January 2008 03:35

The government is set to unveil details of its proposed changes to capital gains tax (CGT), amid reports of concessions after business criticism.

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IHT interest rate reduced

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Tax News - Capital Taxes
Written by Sarah Laing   
Sunday, 06 January 2008 02:31
A new rate of interest for inheritance tax (IHT) purposes has been announced.
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Hidden penalty in new tax rules revealed

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Tax News - Capital Taxes
Written by Sarah Laing   
Friday, 07 December 2007 09:37

Whilst the new consultation on the tax rules relating to non-domiciliaries has rightly attracted a lot of attention, The Chartered Institute of Taxation (CIOT) believes more attention needs to be given to an additional measure that seems to have been missed by many commentators.

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