Michael Birch t/a The Woodman Inn (TC2951)
HMRC have launched a consultation that seeks views on changes to VAT law. The potential alterations would clarify the assistance available to VAT-registered businesses that are required to file their returns online but have difficulty doing so.
HMRC have launched an online service for overseas scheme managers and UK scheme administrators of qualifying recognised overseas pension schemes (QROPS).
Users of the new offering can notify the Revenue that a scheme is a recognised overseas arrangement, and report payments made out of funds received from a UK pension scheme.
The system also allows managers to notify tax officials of fund value, change to details or status, and additional information required for schemes that were formerly QROPS.
TRM Electronics Ltd (TC2989)
Smart Polymers Ltd (TC2987)
HMRC have announced plans for paperless self assessment (SA), which will see online filers receive all official communications electronically.
The Revenue received 7.65m digital SA submissions in 2011/12 – 80.9% of the total number of returns for the year – but only 25% of taxpayers’ interactions with the department are online.
Dagless Holdings Ltd (TC2934)
HMRC say they are unable to correct the online time discrepancy between their own validation service that uses British standard time and the government gateway, which employs Greenwich mean time, because the latter service is used by parties other than the tax department.
The announcement is included in the latest edition of Agent Update, the bi-monthly round up of news for tax advisers.
Gordon West t/a Dishforth Nursery Gardens (TC2868)
Professional accounting body calls for simplification
The groundbreaking judgment that meant three taxpayers did not have to follow the requirement to file VAT returns online
HMRC have launched an online tool to help employees check whether or not they need to calculate their annual allowance tax liability, even if they have not received a pension statement.
Pension providers should have recently sent annual allowance statements for 2011/12 and 2012/13 to members who have contributed more than the maximum £50,000 a year to a scheme. The issue of statements was a legislative requirement of FA 2011.