This month’s UK tax tidbits
- HMRC have updated guidance on trust taxable income, tax pools and deductions to reflect latest guidance on how the tax pool works
- HMRC are highlighting that submitting online Construction Industry Scheme refund claims before the 5 April deadline may cause delays or an incorrect payment
- An updated list of upcoming tax tribunal appeal hearings, including details of previous cases has been published
- The following corporation tax return forms have been updated:- Corporation Tax: Restitution Tax (CT600K (2017) version 3), Corporation Tax: charity and Community Amateur Sports Clubs (CT600E (2015) version 3) and Corporation Tax: controlled foreign companies and foreign permanent establishment exemptions (CT600B (2015) version 3)
- HMRC has published guidance on the definitions that make an individual an enabler of tax avoidance under legislation introduced in the Finance (No.2) Act 2017
- HMRC has issued revised guidance on the non-resident capital gains tax rules for UK residential property sales as one in three face penalties for late filing
- HMRC has updated the corporation tax guidance to explain about registering a company when it becomes active
- The list of mortgage providers and lenders who accept a SA302 tax calculation and a tax year overview has been updated
- Notice 252: valuation of imported goods for customs purposes, VAT and trade statistics has been updated
- CWG2: further guide to PAYE and National Insurance contributions has been updated
- Notice 600: classifying your imports or exports has been updated
- Use the updated register to check the status of overseas corporate lenders who are passport holders for Double Taxation Relief on UK loan interest
- Let Property Campaign: your guide to making a disclosure has been updated
- Direct effects of illustrative tax changes is a ‘ready reckoner’ showing estimates of the effects of illustrative tax changes on tax receipts from 2019–2020 to 2021–22, based on an April 2019 implementation. Various illustrative changes are presented for Income Tax, Tax Credits, Corporation Tax, Capital Gains Tax, Inheritance Tax and National Insurance Contributions
- HMRC have published updated details of the UK’s Enterprise Zones. A number of new or extended areas have been added and these are treated as assisted areas from 16 March 2016
- VAT: instruction to your bank or building society to pay by direct debit (VATC9) has been updated
- Income Tax: new tax allowance for property and trading income gives updated guidance on the tax allowance for property and trading income
- Find out about the Community Investment Tax Relief (CITR) scheme if you’re an individual or company who invests in accredited Community Development Finance Institutions
- HMRC has updated the list (List 3) of professional bodies and learned societies, approved by HMRC for the purpose of section 344 ITEPA 2003 (allowable deductions from earnings for fees and subscriptions paid to professional bodies/learned societies). The list includes all bodies approved up to October 2017
- HMRC has published details of research examining taxpayer’ experiences of the time it takes to resolve a query with HMRC
- The guidance on registering and reporting for the Automatic Exchange of Information service using HMRC online services has been updated
- The information on the online service to make a disclosure if you, your company or client haven’t declared all income or gains has been updated
- Rates and allowances: Inheritance Tax thresholds and interest rates has been updated
- Rents and other payments arising from land – statutory return (ROPL-01) has been updated
