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Where Taxpayers and Advisers Meet
HMRC announcements: week ending 20 July 2007
20/07/2007, 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 20 July

What’s new?

  • Gift Aid donor benefit limits: the online guidance for charities and donors has been updated to reflect the increased donor benefit limits, for donations made on or after 6 April 2007;
  • UK investment manager exemption – revised Statement of Practice 1/01, which generally takes effect from 20 July 2007;
  • New Introduction to the Enterprise Investment Scheme (EIS);
  • Distributing Offshore Funds - updated list of certified funds as at 18 July 2007;
  • IHT Discounted Gift Schemes – notification of change to interest rate from 1st September 2007;
  • List of Recognised Stock Exchanges updated from Royal Assent of Finance Act 2007 (19 August 2007);
  • Notification of a fraud attempt - fake tax payment forms are being sent to customers requesting a cheque for underpayment;
  • Updated Qualifying Recognised Overseas Pension Schemes (QROPS) list published;
  • Revised VAT Notice 700/63: Electronic invoicing, which cancels and replaces Notice 700/63 December 2003;
  • VAT Notice 192: Registered dealers in controlled oils, Update 1, July 2007, amends paragraph 5.14 headed Guidance on the Standard Checks; and
  • VAT Info Sheet 10/07, which explains some changes to current VAT invoicing regulations.

HMRC Manuals updated in July
New Tax Credits Manual
Corporate Finance Manual
Employment Related Securities Manual
Employment Procedures Manual
Schedule E manual
Community Investment Tax Relief Manual
Double Taxation Relief Manual
Employer Compliance Handbook
Constructions Industry Scheme Reform Manual
Stamp Duty Land Tax Manual
Property Income Manual
Dept Management and Banking Manual
Oil Taxation Manual
Employment Procedure Manual 

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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