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ICAEW essay contest
ICAEW essay contest
The Institute of Chartered Accountants in England and Wales (ICAEW) is running an essay competition in conjunction with tax publisher Tolley. Contributions from writers under 30 years of age should be between 2,000 and 3,000 words and cover key issues facing those running the UK tax system. The subjects on which entrants can write are listed on the ICAEW website along with the rules and entry brief.
Interns
HMRC are writing to record labels and event companies warning them about the consequences for non-payment of the national minimum wage for any unpaid interns they take on. The letters set out the rules and will be followed up by compliance visits due to begin later in the year.
Climate change
Public notices CCL 1/1, CCL 1/5 and CCL 1/6 have been updated.
Taskforces
HMRC have launched a new taskforce aimed at individuals and businesses in London and East Anglia with offshore accounts. A similar taskforce is also being launched in South Wales. Other taskforces will target restaurants in London and East Anglia and the construction industry in the Midlands.
Interest rate
The official rate of interest, used to calculate the income tax charge on beneficial loans, for tax year 2014/15 will be 3.25%.
Zambia DTA
A new comprehensive double taxation agreement between the UK and the Republic of Zambia was signed on 4 February.
ATED
HMRC are updating the annual tax on enveloped dwellings (ATED) return for 2014/15. The form will not be available between 3pm on 28 February until 10am on 3 March.
