Newly Opened Consultations
HMRC have opened two consultations. The Transfer of Assets Abroad consultation and Simplifying the National Insurance Processes for the Self Employed will close for responses on 10 and 9 October 2013 respectively.
At Budget 2012 the Government announced a consultation on the transfer of assets abroad legislation. The consultation sought views on whether proposed amendments would ensure that the legislation remained compatible with European Union law, on certain clarification changes, and on whether any other changes were required. A new exemption and other changes were legislated for in Finance Act 2013.
The current consultation document summarises responses received to the wider questions in the 2012 consultation, and seeks views on the matching rules for the benefits charge and on draft guidance.
The consultation on Simplifying the National Insurance Processes for the Self Employed looks at the option of collecting Class 2 National Insurance Contributions (NICs) alongside Class 4 NICs and income tax through the Self-Assessment process.