In brief: 12 March 2020

Finance Bill

The Finance Bill will be published on 19 March 2020. 

tinyurl.com/hcws122

Official interest rate

The Taxes (Interest Rate) (Amendment) Regulations SI 2020/194 reduce the official rate of interest applicable to employment-related beneficial loans from 2.5% to 2.25%.

tinyurl.com/uksi2020194

Deemed domicile 

HMRC has added comments on the Q&As on the extension of inheritance tax to overseas property representing UK residential property interests.

tinyurl.com/nukdu3

Pensions

Pension schemes newsletter 117 has articles on: Scottish and Welsh income tax rates for 2020-21; checking members’ residency status for relief at source; annual return of information for 2019-20; updates to GOV.UK guides on relief at source; and changes to the APSS106 form.

tinyurl.com/hmrcpn117

Fuel benefit

The Van Benefit and Car and Van Fuel Benefit Order SI 2020/199 amends the base figure for calculating the car fuel benefit from £24 100 to £24 500. It also increases the cash equivalent figure for calculating the van benefit...