In brief

Happy Christmas!

Everyone at Taxation wishes readers a very merry Christmas and a happy new year. The next issue of Taxation will be published on 7 January 2016.

Intangible assets

Legislation in Finance Bill 2016 will introduce provisions effective from 25 November 2015 to ensure that companies holding intangible fixed assets through partnerships come within the intangible fixed asset rules for the purposes of calculating the profit share of corporate partners.

RTI

It was confirmed in the autumn statement that the two year relaxation allowing micro-employers using RTI to report PAYE information on or before the last payday in the month rather than on or before each and every payday will end on 5 April 2016. The easement applied to employers that were existing employers on 5 April 2014 and had fewer than ten employees on 6 April 2015.

SRIT

HMRC are writing...