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Tax agreements
Both the exchange of letters between the UK and Switzerland that amends the UK/Switzerland double taxation convention and the double taxation agreement between the UK and Barbados, which replaces the 1970 agreement, entered into force 19 December 2012. In addition, the second protocol to the UK/Singapore double taxation agreement entered into force on 27 December.
Car benefit
HMRC have updated their car and car fuel benefit calculator to include calculations for 2013/14.
VAT rates
The rates of VAT in Cyprus and the Czech Republic have been increased from 17% to 18% and from 20% to 21% respectively. The new Cypriot rate took effect on 14 January, while the Czech increase came into force on 1 January.
SRNs withdrawn
Two scheme reference numbers (SRNs) were withdrawn towards the end of 2012: from 29 November SRN 05170927 and from 12 December 2012 SRN 84534910.
Non-execs
HMRC have appointed three new non-executive board members as part of the department’s continuing governance arrangements. The directors are John Whiting, Volker Beckers and Norman Pickavance.
