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Anti-avoidance guidance
The draft guidance Promoters of Tax Avoidance Schemes covers the new rules that aim to deter the development and use of arrangements by influencing the behaviour of promoters, their intermediaries and clients. Comments should be sent by 31 July via HMRC’s website, or by post to Alan Welsby, Royal House, Prince Gate, 2-6 Homer Road, Solihull B91 3WG.
Anti-avoidance guidance
The draft guidance Promoters of Tax Avoidance Schemes covers the new rules that aim to deter the development and use of arrangements by influencing the behaviour of promoters, their intermediaries and clients. Comments should be sent by 31 July via HMRC’s website, or by post to Alan Welsby, Royal House, Prince Gate, 2-6 Homer Road, Solihull B91 3WG.
Toolkits
HMRC have updated the business profits toolkit and the capital v revenue expenditure toolkit. All risks have been reviewed and many have been updated. The business profits toolkit includes an entirely new risk concerning business entertaining expenditure.
Pensions
Statutory Instrument SI 2014/1449: “The Registered Pension Schemes (Transfer of Sums and Assets) (Amendment) Regulations 2014” makes a minor change to the legislation to clarify existing practice.
Climate change levy
Four climate change levy notices have been revised. These are: CCL1/2 “Combined heat and powers schemes”, CCL1/6 “A guide to carbon price floor”, CCL1/4 “Electricity from renewable sources” and CCL1/3 “Reliefs and special treatments for taxable commodities”.
DIY builders
HMRC have updated the notes to forms VAT431C for claiming a VAT refund on converting an existing building into a dwelling as a DIY house builder and VAT431NB for claiming a VAT refund on a new build as a DIY house builder.
PAYE payment
As 22 June is a Sunday, employers that pay their PAYE tax and National Insurance electronically may need to have cleared funds in HMRC’s bank account by 20 June.
