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Late returns
HMRC’s tax return initiative expires on 2 October 2012. Under this facility, outstanding tax returns for 2009/10 and earlier submitted before 2 October will be subject to reduced penalties. Tax and National Insurance contributions due must be paid at the same time.
Finance Bill
The draft Finance Bill 2013 legislation will be published on 11 December 2012.
RPI
The value of the retail prices index for July is 242.1.
Isle of Man
The Isle of Man has signed a double taxation agreement with Singapore and a tax information exchange agreement with Turkey. The Isle of Man now has 32 agreements that meet the OECD international standard on tax co-operation and transparency.
Agent update
Issue 31 of HMRC’s Agent Update has been published. It contains news and updates on various tax issues, most of which have already been publicised on HMRC’s website and covered in Taxation.
CG34 form revised
The updated form contains changes to the guidance notes emphasising that the form and relevant information must be received by HMRC at least two months before the taxpayer’s filing date.
