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HMRC announcements: week ending 30 March 2007 Print E-mail
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A quick guide to recent additions to the HM Revenue & Customs website. 

Week ending 30 March

What’s new?

  • Self Assessment drafts timetable available for 2007/08;
  • Various NIC Contracting-out rates for 2007/08 published;
  • Summary of Responses: Ensuring compliance with tax avoidance disclosure regime;
  • Summary of Responses and HMRC comments: UK Investment Manager Exemption;
  • Draft guidance for business on the prevention of money laundering;
  • Recognised Stock Exchanges – Budget 2007: This note clarifies the status of AIM shares and the designation of Recognised Stock Exchanges following the issue of Budget Note 37;
  • Corporation Tax: Change of contact details from 6 April 2007;
  • Summary of responses to the consultation on proposals for a modernised Customs Code;
  • PEP & ISA Bulletin 38;
  • New guidance on UK Real Estate Investment Trusts (UK REITs);
  • HMRC Brief 31/07: Partial Exemption VAT recovery on overhead costs relating to supplies of hire purchase;
  • HMRC Brief 30/07 contains an article concerning the outcome of Halifax case;
  • HMRC Brief 29/07: VAT ESC 3 29 and change of use provisions; and
  • VAT Notice 179 Update 1 (March 2007): Motor and heating fuels: General information and accounting for Excise Duty and VAT.

Regulatory Impact Assessments:

  • Managed Service Companies;
  • Criminal Investigation Powers;
  • Compliance with the Tax Avoidance Disclosure Regime;
  • New Duty of Excise called Remote Gaming Duty;
  • HMRC and the Taxpayer: Modernising Powers, Deterrents and Safeguards: Penalties for Incorrect Returns; and
  • Review of Powers: Penalties for Incorrect Returns.

Statutory Instruments: 

  • The Corporation Tax (Taxation of Films) (Transitional Provisions) Regulations 2007 (SI 2007/1050);
  • The Social Security (Contributions) (Re-rating and National Insurance Funds Payments) Order 2007 (SI 2007/1052);
  • The Child Benefit Up-rating Order 2007 (SI 2007/1053);
  • The Income Tax (Pay as You Earn) (Amendment) Regulations 2007 (SI 2007/1077);
  • The Guardian’s Allowance Up-rating Regulations 2007 (SI 2007/1071);
  • The Finance Act 2006 (Section 94(5)) (PAYE: Retrospective Notional Payments - Appointment of Substituted Date) Order 2007 (SI 2007/1081); and
  • The Insurance Companies (Corporation Tax Acts) (Amendment) Order 2007 (SI 2007/1031).

HMRC Manuals updated in March

Double Taxation Relief
Debt Management and Banking
Insolvency Manual
Enquiry Manual
Trusts, Settlements and Estates
Capital Allowances 
Schedule E

Links
HMRC: What’s new
HMRC: Working Together: What's new
HMRC: Tax credits: What's new
HMRC: Online Services: News

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About The Author

Sarah Laing

Sarah Laing
Editor, TaxationWeb News

Sarah is a Chartered Tax Adviser. She has been writing professionally since joining CCH Editions in 1998 as a Senior Technical Editor, contributing to a range of highly regarded publications including the British Tax Reporter, Taxes - The Weekly Tax News, the Red & Green legislation volumes, Hardman's, International Tax Agreements and many others. She became Publishing Manager for the tax and accounting portfolio in 2001 and later went on to help run CCH Seminars (including ABG Courses and Conferences).

Sarah originally worked for the Inland Revenue in Newbury and Swindon Tax Offices, before moving out into practice in 1991. She has worked for both small and Big 5 firms. She now works as a freelance author providing technical writing services for the tax and accountancy profession.

Article Added Friday, 30 March 2007 | 1435 Hits

 

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