In brief

Finance Bill

The Finance Bill will be published on 20 March.

VAT

HMRC has updated Notice 733: Flat rate scheme for small businesses to include details of the limited cost business changes that apply from 1 April. It cancels and replaces the November version. It has also updated Notice 700/67: Registration scheme for racehorse owners to replace the version published in January 2002.

Lenders

Tesco Bank has been added to HMRC’s list of lenders or mortgage providers that accept an SA302 tax year calculation and tax year overview printed from online accounts or from the commercial software used to submit returns. See here.

Corporate interest

The rules limiting the tax relief that large multinational businesses can claim for interest and other financing expenses come into effect in April. HMRC has published draft regulations and a draft explanatory memorandum to ensure the rules relating...