A number of other items were published on HMRC's website in December 2006, including the following:

i. Tax Credits Penalties

The revised Leaflet WTC7, which covers penalties when tax credits have been claimed incorrectly, is available at http://www.hmrc.gov.uk/leaflets/wtc7.pdf;

ii. Inheritance Tax

The December edition of the IHT Newsletter is now available at http://www.hmrc.gov.uk/cto/dec06.pdf. The Newsletter includes an announcement about a change of name. The name Capital Taxes will no longer be used, in future HMRC Inheritance Tax should be used instead.

iii. Permanent Interest Bearing Shares

There is a change to the definition of Permanent Interest Bearing Shares (PIBS) for capital gains tax purposes. Further information is available at http://www.hmrc.gov.uk/si/2006-3291.pdf

iv. Revised indexation table for corporation tax on chargeable gains

The revised table reflects RPI for November 2006 and is available at http://www.hmrc.gov.uk/rates/c_gains_subject_ c_tax.htm

v. Updated list of offshore funds

An updated list of certified funds as at 8 December 2006 is available at http://www.hmrc.gov.uk/offshorefunds/offshore-funds.pdf.

vi. PAYE improvements from April 2007

The way that HMRC deals with PAYE is changing. According to HMRC, they will be introducing improvements that will help them operate the PAYE system more efficiently from April 2007.

Further information is available at http://www.hmrc.gov.uk/paye/dealing-with-paye.htm;

vii. Tax Bulletin, Issue 86

Issue 86 of Tax Bulletin has been published and is available at http://www.hmrc.gov.uk/bulletins/tb86.pdf.

viii. Statutory Payments

The rates of statutory payments have been changed for 2007–2008 and are available at http://www.hmrc.gov.uk/employers/rates-of-stat-pay.htm.

ix. Consultation on penalties for incorrect tax returns

According to HMRC, this consultation, which includes draft legislation and explanatory material, seeks views on proposals for a single structure for penalties for completing incorrect tax returns to apply to Income Tax, Corporation Tax, Capital Gains Tax, VAT and employers’ PAYE and NICs. Further information is available at http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageLibrary_ ConsultationDocuments&propertyType=document&columns=1&id=HMCE_PROD1_026481

x. Stamp Duty Land Tax

Stamp duty land tax (SDLT) Practitioners’ News (formerly Newsletter) Issue 16 – December 2006 has been published and is available http://www.hmrc.gov.uk/so/newsletter16-1.htm.

xi. Tax Law Rewrite

Draft Clauses and Explanatory Notes on the Accrued Income Scheme have been published for public consultation. Comments on the draft clauses are invited by 5 January 2007. Further information is available at http://www.hmrc.gov.uk/rewrite/index.htm.