HMRC-Further Updates
Additional items were published on HMRC's website in the past month, including the following:
- Changes to Secure Mailbox Service (SMS)
HMRC have advised that the SMS will be replaced. A new version will be in place on 28 June. Information will not be transferred into the new system. Further details are available at http://www.hmrc.gov.uk/sa/welcome.htm. - Stamp Taxes
The June issue of the SDLT newsletter is now available. - Quoted Eurobonds
The note published on 10 August 2005 has been updated and now includes the Irish Alternative Securities Market. - Feedback from CCAB
The CCAB presidents met recently with senior HMRC officials, Dave Hartnett, Director General with responsibility for business tax issues, and Theresa Middleton, Director for SMEs, to discuss the relationship between HMRC and CCAB members. - Money Laundering
HMRC have published a consultation document, which seeks your views on the draft of Public Notice MLR8 for businesses on countering money laundering and the financing of terrorism. - Clause 65 Finance Bill 2007
HMRC have produced draft guidance on the circumstances in which they may accept late elections under this provision. Comments on this were required by 30 June 2007. Further information is available at http://www.hmrc.gov.uk/poa/late-election-guidance.htm. - What to do about tax when someone dies
HMRC guidance ‘What to do about tax when someone dies’ (formerly IR45) has now been updated and republished. It is available at http://www.hmrc.gov.uk/trusts/tax-when-someone-dies.htm. - Tax Law Rewrite
Minutes of the May meeting of the Steering Committee and the Consultative Committee are available on the HMRC website. - Employer Consultation Forum
The agenda for the meeting held on 13 June 2007 is available at http://www.hmrc.gov.uk/consultations/cf-agenda130607.htm. - Becoming Self-Employed
An improved CWF1 has been produced by the Central Agent Authorisation Team (CAAT). Customers wishing to become self-employed can download a version at http://www.hmrc.gov.uk/forms/cwf1.pdf which can be completed and sent to the CAAT. - TDSI Mailshot
The Mailshot contains articles about forms R85, section 352 certificates and qualifying time deposits. Click http://www.hmrc.gov.uk/tdsi/mailshot19.htm for further information. - New TIPs
HMRC have published new Tactical & Information Packages (TIPs) on licensed trade; field sports; bookmakers; construction industry, and updated TIPs on estate agents, franchises and waste disposal and landfill sites. - P11D
The 2006-07 P11D Return of Expenses and Benefits was due by 6 July. - Construction Industry Scheme (CIS)
HMRC have advised that letter CIS372 ‘Retaining gross payment status in New CIS’ is being issued to all subcontractors currently paid gross.
with effect from the 17 April 2007, only the current version of the SDLT 60 is acceptable [version dated “03/06”]. The SDLT 60 is a statutory form and the regulations implementing the new version provided for a 12-month transitional period.
HMRC had previously announced that they would stop manually inputting 2D barcoded returns that failed scanning from 1 June. After monitoring the impact of customer letters they sent out, HMRC have extended the period in which they will continue to manually process these returns.
Further information is available at http://www.hmrc.gov.uk/consultations/ccab.htm.
HMRC have published draft clauses and explanatory notes on derivative contracts for public consultation. Comments on the draft clauses are invited by 19 October 2007.
