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18 September 2006
Categories: News
Negligible values; Evasion hotline; Retail prices index Aug 2006

Negligible values

HMRC have accepted the following security as having negligible value during August 2006 for the purposes of a claim under TCGA 1992, s 24(2).



Effective date

Henlys Group plc



Where the value of shares has become negligible, an allowable loss may be established by the owner claiming that they are treated as being sold and reacquired, either on the date of the claim or at a specified time within the two tax years prior to the date of claim.
See for the full list of negligible value securities.

Evasion hotline

HMRC are apparently 'very pleased with the response to the launch of the new evasion hotline'.
Since its launch in April 2006, 38,096 calls have been handled. This information was passed to the Sunday Telegraph under a Freedom of Information Act enquiry, but further information was not provided as being exempt under s 31(1)(a) 'law enforcement' of the Act due to 'operational sensitivities'. The question pertained to the number of enquiries, full investigations and prosecutions there have been as a result of information given by members of the public to the hotline.
As to the amount of extra revenue that has been netted to the Exchequer due to the hotline, HMRC intends to publish this information in the future and so is exempt under s 22 'Information intended for future publication' of the Act.

Retail prices index

The all items retail prices index for August 2006 is 199.2.

Categories: News
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