TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

HMRC – Further Updates

Additional items were published on HMRC's website in the past month, including the following:

  1. Child Trust Fund Bulletin 16
    The latest CTF Bulletin is now available. It contains articles about additional payments received after the date of transfer, cessation of Official Solicitor/Accountant of Court as Registered Contact, changes notified by CTFO, cooling off periods, transfers, and void CTFs. The Bulletin is available at http://www.hmrc.gov.uk/ctf/ctfbulletin16.htm?_nfpb=true&_pageLabel=pageLibrary_ShowContent%1D%22ertyType=document&id=HMCE_PROD1_026841.
  2. HMRC Grant in Aid funding programme launched
    The Voluntary and Community Sector Team in HMRC launched it's 2007/8 Grant in Aid funding programme on 19 February 2007. The initial bidding process will run for six weeks and closes on 30 March 2007. Clickhttp://www.hmrc.gov.uk/ vcs/funding-streams.htm for further information.
  3. National Insurance Contributions Act 2006
    Further information has been published by HMRC.
    Click http://www.hmrc.gov.uk/employers/nicactsnews200207.pdf for ‘What's New’.
  4. Application for Form E101
    The application for form E101 when an employee is employed in two or more countries of the EEA, Form CA8421, has been updated. The updated form is available at http://www.hmrc.gov.uk/cnr/ca8421.pdf.
  5. Trading in Financial Instruments
    The Economic Secretary to the Treasury announced changes to the stamp duty reliefs for intermediaries trading UK shares from November 2007, and proposals to modernise the definition of Recognised Stock Exchange for tax purposes. Draft Stamp Duty clauses have also been published.
    Click http://www.hmrc.gov.uk/news/ministerial-statement.htm for the Ministerial Statement.
  6. Petroleum Revenue Tax (PRT)
    Terms and Conditions have been published to enable companies to file their PRT returns electronically over the Internet through Shared Workspace and to formalise the process for PRT filing by e-mail. Click http://www.hmrc.gov.uk/lbo/prt-efiling.htm for further information.
  7. CIS Online Services FAQ
    A new FAQ has been added – What information do I need to register online for CIS? Further information is available at http://www.hmrc.gov.uk/new-cis/cis-online-services-faqs.htm.
  8. New CIS Factsheets for subcontractors
    CIS342 - CIS344, are now available in 12 foreign languages to help those subcontractors whose first language is not English to register for CIS. Click http://www.hmrc.gov.uk/new-cis/languages.htm for further information.
  9. Share Schemes
    New versions of information returns for the year ended 5 April 2007 have now been published. For further information on the new returns, click http://www.hmrc.gov.uk/shareschemes/information-returns.htm.
  10. Trust Modernisation
    Draft amending legislation for two minor omissions identified in the 2006 Trust Modernisation legislation. Click http://www.hmrc.gov.uk/trusts/draft-amending-leg091006-cover.htm for further information.
  11. PAYE – Prepare now for April 2008
    From April 2008, employers with 50 or more employees must send HMRC some in-year PAYE information online. Further information is available at http://www.hmrc.gov.uk/inyear/index.htm.
  12. 24th Pensions Newsletter
    The twenty fourth Pensions Tax Simplification newsletter has been published on the HMRC website. Click http://www.hmrc.gov.uk/pension schemes/newsletter 24.htm for the newsletter.
  13. 2006–07 Employer Annual Return (P14s and P35)
    For further information on online filing, click http://www.hmrc.gov.uk/payeonline/online-filing-2007.htm.
  14. SDLT – Online certificate
    According to HMRC, practitioners who submit stamp duty land tax (SDLT) returns electronically are benefiting from an enhancement to HM Revenue & Customs’ (HMRC) online service.
  15. Tackling Managed Service Companies
    Comments had to be made by 2 March 2007 on the consultation document Tackling Managed Service Companies. For further information, click http://www.hmrc.gov.uk/pbr2006/managed-service-summary.htm.
  16. Online trading
    HMRC have issued guidance on taxing or otherwise of online trading. The guidance is available at http://www.gnn.gov.uk/Content/Detail.asp?ReleaseID=262133&NewsAreaID=2.