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

Up Date on Trust Compliance Issues

HMRC have acknowledged difficulties in receiving online trust returns and have also confirmed the withdrawal of trust tax return acknowledgement letters.

HMRC Trusts are experiencing difficulties receiving online delivered returns. If the online return contains an entry in any of the following boxes 13.19, 14.15 or 5.20 then it may be rejected by the Self Assessment gateway. If the online return is rejected, then a paper return must be submitted. For these cases the usual paper deadline of 31 October has now been extended to 31 January. If submitting the paper return in one of these cases after the 31 October, then you should note the reason on the front of the return or send an accompanying letter. This will avoid a penalty being charged for the late submission of a paper return. Further details are available at: http://www.hmrc.gov.uk/online/returns.htm

Letters which acknowledge that HMRC Trusts have processed a return without needing to repair or amend it have been withdrawn. HMRC Trusts have until now sent an acknowledgement letter to agents following the processing of a paper return where the taxpayer has self-calculated their liability. In future, HMRC Trusts will no longer issue a letter following the processing of a return where there is no reason to revise the calculation. This will bring HMRC Trusts into line with the rest of HMRC processing. Full details are available at http://www.hmrc.gov.uk/agents/trusts-ack-letters.htm