This month’s UK tax tidbits
- HMRC have published a new tranche of draft guidance on the corporate loss relief reforms
- HMRC have also published a guide to completing CT600 (2017) version 3 together with related documents: Corporation Tax: Company Tax Return guide and Corporation Tax: group and consortium relief (CT600C (2017) version 3)
- According to the NAO, maintaining accurate address records of the 2.6 million Scottish taxpayers remains the biggest risk facing HMRC in ensuring that Scottish income tax is assessed and collected properly.
- The letter detailing the government’s response to the Office of Tax Simplification’s recent publication on simplifying Value-Added Tax has been published
- From 1 April 2018, the rates of the annual tax on enveloped dwellings will increase
- The advisory fuel rates for company cars changed on 1 December 2017
- HMRC have updated guidance on the disclosure facility for landlords to highlight the need for a payment reference number to be used when making payment
- The 2017–18 Employer Guide to PAYE and NIC has been updated
- The Pension schemes newsletter for November 2017 has been published. A number of other documents also relevant to pension have also been published:- The Registered Pension Schemes (Relief at Source)(Amendment) Regulations 2018, Pensions Tax: changes to administration of Relief at Source and Pensions Tax: changes to administration of Relief at Source
- The guidance on the personal savings allowance introduced from 6 April 2016 has been published
- Use the updated register to check the status of overseas corporate lenders who are passport holders for Double Taxation Relief on UK loan interest
- Use updated form US-Company UK-REIT (SI 2002 Number 2848) to claim repayment of UK Income Tax deducted from property income dividends paid by UK Real Estate Investment Trusts.
- Updated Tax Tribunal lists and VAT notices feature together with the third HMRC report on the Code of Practice on Taxation for Banks.
- Some VAT notices have been updated recently:- VAT Notice 700/14: video cassette films – rental and part-exchange, VAT Notice 707: Personal Export Scheme and VAT Notice 701/8: postage stamps and philatelic supplies
- An updated list of upcoming tax tribunal appeal hearings, including details of previous cases has been published
- HMRC has updated the list (List 3) of professional bodies and learned societies, approved by HMRC for the purpose of section 344 ITEPA 2003 (allowable deductions from earnings for fees and subscriptions paid to professional bodies/learned societies). The list includes all bodies approved up to September 2017
- HMRC published their third annual report on the Code of Practice on Taxation for Banks on 18 October, covering the period 1 April 2016 to 31 March 2017
- According to a report from the public accounts committee, HMRC has been too slow to address the problems of online VAT fraud by overseas sellers and its estimates of the tax loss are ‘out of date and flawed’
- Details of the latest phishing scams have been updated
- The factsheet giving information about checks by Campaigns and Projects has been updated
- HMRC have published some recent performance stats:- HMRC quarterly performance update – July to September 2017 and HMRC monthly performance report: October 2017
- HMRC are introducing a new Pensions Online Digital Service and are seeking volunteers to help test it
- Employers will not be able to use personal credit cards to settle outstanding PAYE late payment penalties from January 2018
- HMRC has issued guidance contained in its VAT Manuals about paying VAT to HMRC electronically, and receiving repayments by BACS
- National Insurance: apply for a portable document A1/E101 if self-employed in European Economic Area (CA3837) has been updated
- Use the updated register to check the status of overseas corporate lenders who are passport holders for Double Taxation Relief on UK loan interest
- The factsheet on Compliance checks: Higher penalties for offshore matters – CC/FS17 has been updated
