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...0300 numbers; Voluntary NICs; Child trust funds; SDLT basis
GAAR guide
HMRC have published new guidance for the general anti-abuse rule (GAAR), following approval by its interim advisory panel, the members of which stood down on 15 April 2013. Their permanent replacements have not yet been named, although Patrick Mears has been appointed the full-time chairperson.
Trust returns
The main changes to the 2012/13 trust and estate tax return and supporting notes can be found in the guidance note on HMRC’s website.
0300 numbers
The child benefit and guardian’s allowance helpline numbers have been changed to 0300 200 3100 and 0300 200 3101 respectively.
Voluntary NICs
Statutory instrument 2013/718 has been published extending the time limits and changing the higher rate provisions for the payment of voluntary National Insurance contributions to those reaching state pension age from 6 April 2016.
Child trust funds
CTF Bulletin 69 is available on HMRC’s website. It covers the consultation on possible transfers from a child trust fund account to a junior ISA, annual information return for 2012/13, and withdrawals from a CTF account.
SDLT basis
Policy changes in relation to transfers of a going concern (TOGC) following the First-tier Tribunal’s decision in Robinson Family Ltd (TC2046) were set out in Revenue & Customs Brief 30/12. HMRC have now published 8/13 to provide guidance on the adjustment of stamp duty land tax (SDLT). Some businesses have been charged tax on the grant of an interest in land when in fact the transaction qualified as the transfer of a going concern, with no VAT chargeable. This would have resulted in SDLT being assessed on a VAT-inclusive value rather than a VAT-exclusive one. If a firm believes it has overpaid SDLT on such a transaction, it may claim overpayment relief (FA 2003, Sch 10 para 34).
