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Finance Bill
Finance Bill 2012 was published on 29 March. Formally known as Finance (No 4) Bill, it contains 227 clauses, 38 schedules and runs to 670 pages. There are, in addition, 508 pages of explanatory notes.
Reallocation letters
From 28 March 2012, HMRC will stop issuing the paper letters (form CT 217) that tell companies and their agents about the reallocation of payments. The information about reallocated payments can be found in the ‘view liabilities and payments’ area of the HMRC Corporation Tax Online Service.
Armenia DTC
The UK/Armenia double taxation convention entered into force on 21 February 2012.
Simpler accounts
HMRC have published the consultation document Simpler Income Tax for the Simplest Small Businesses. Comments on the proposals for introducing a voluntary cash basis for income tax and simplified arrangements for certain expenses should be submitted by 22 June 2012.
