In brief

Debts and PAYE

A summary of responses on the secondary legislation required to implement the proposal to collect more HMRC debts through PAYE and to increase the coding threshold from £2 000 to £3 000 is available on HMRC’s website.

China DTA

A new comprehensive double taxation agreement between the UK and the People’s Republic of China was signed in London.

Important features of the new agreement include a reduction in the dividend withholding tax rate to 5% (down from 10%) for direct investors; an updated capital gains article and a modern exchange of information article.

The agreement enters into force once both countries have completed their legislative procedures.

Academies

VAT Information Sheet 9/11 has been published to provide guidance for schools that are converting to academies and new academies which...