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Property trusts
The information in HMRC’s IHT113 guide on filing and payment dates is incorrect for events arising on or after 6 April. When such a chargeable event arising on property trusts takes place, the date for filing the inheritance tax (IHT) return and paying the tax due has been changed to six months after the end of the month in which the charge arose. The change in the payment date will affect relevant property trusts where the charge to IHT arises between 5 April and 30 September.
Property trusts
The information in HMRC’s IHT113 guide on filing and payment dates is incorrect for events arising on or after 6 April. When such a chargeable event arising on property trusts takes place, the date for filing the inheritance tax (IHT) return and paying the tax due has been changed to six months after the end of the month in which the charge arose. The change in the payment date will affect relevant property trusts where the charge to IHT arises between 5 April and 30 September.
Stock exchanges
The Singapore Exchange Securities Trading Limited (SGX-ST) and the Singapore Exchange Derivatives Trading Ltd (SGX-DT) markets have been designated as recognised stock exchanges.
Pensions
HMRC have published updated guidance on the changes to pension tax rules that will give individuals greater flexibility to access their pension savings.
RPI
The retail prices index for September 2014 is 257.6.
Contracting-out
HMRC’s October 2014 Countdown bulletin announces that there are 18 months until the ending of contracting-out. It also includes articles on the scheme reconciliation service and apparent un-notified terminations as well as containing information for trustees.
Insurance
The new Notice IPT1 gives guidance on insurance premium tax, what it is, who it applies to and how to pay it. It cancels and replaces Notice IPT 1 (October 2011) and Notice IPT 2 (February 1999).
