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Where Taxpayers and Advisers Meet
HMRC announcements: week ending 13 April 2007
14/04/2007, by Sarah Laing, Tax News - HMRC Administration, Practice and Methods
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A quick guide to recent additions to the HM Revenue & Customs website.

Week ending 13 April

What’s new?

  • New infomration concerning Managed Service Companies;
  • Updated Inheritance Tax form IHT200 (integrated account);
  • Get more help with starting and finishing the PAYE tax-year;
  • Table of forms for use by charities and CASCs and in particular repayment claim forms;
  • Online filing of employee share schemes returns and information - FAQs;
  • New R40 repayment claims form and guidance notes;
  • Pensions Newsletter 27;
  • IHT: new release of grossing up calculator to reflect increase in nil rate band from 6 April 2007;
  • IHT: new release of Corrective Account/Inventory form C4;
  • HMT/HMRC statement on tax relief for life assurance premium contributions;
  • Updated Tax Credits leaflets: WTC/FS1 Tax credits enquiry; WTC/FS2 Tax credits examinations; and WTC7 Tax Credits penalties - what happens at the end of a check;
  • Electronically supplied services: Special scheme for non-EU businesses: Information sheet providing currency exchange rates required by non-EU businesses registered for the special scheme in the UK, for reporting period ending March 2007;
  • Statutory clearance applications involving transactions in securities - changes arising from the Income Tax Act 2007;
  • Distributing Offshore Funds list updated to 5 April 2007;
  • Revised VAT Notice 733: Flat rate Scheme for small businesses;
  • VAT Notes No 1 2007: Items in this edition include: Are you a developer constructing blocks of flats or similar residential properties? Are you a health professional providing medical services? Changes to VAT exemption. Do you pay or receive ‘cash backs’? Do you supply private tuition?;
  • The Social Security (Contributions) (Amendment No. 3) Regulations 2007 (SI 2007/1175) and Explanatory Memorandum;
  • Directions under Part 2 of the Registered Pension Schemes and Overseas Pension Schemes (Electronic Communication of Returns and Information) Regulations 2006 (S.I. 2006/570); and
  • Directions under regulation 2 and 4 of the Employee Share Schemes (Electronic Communication of Returns and Information) Regulations 2007 (S.I. 2007/792).

HMRC Manuals updated in April

General Insurance
Capital Gains
PAYE Online
Savings and Investment (new manual)
Corporate Finance
Business Income
Registered Pension Schemes
National Insurance

Links

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

About The Author

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.

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