Royal assent
The Finance Bill received royal assent on 19 July and is now the Finance Act 2011.
Compensation
The payments made under the HMRC’s ex-gratia financial redress policy totalled £3.74 million for 2009/10. This included a single, exceptional payment of £1.2 million. For 2010/11, payments totalled
£1.41 million. [Hansard, 7 July 2011, vol 530, no 184, col 1334W]
NI holiday
Up to 8 July 2011, HMRC had processed 5,137 successful and 163 unsuccessful applications for the National Insurance contributions holiday from new businesses, said David Gauke in reply to a written question. [Hansard, 19 July 2011, vol 531, no 190, col 820W]
Dormant accounts
The Dormant Bank and Building Society Accounts (Tax) Regulations 2011 (SI 2011/22) came into effect on 1 February 2011. HMRC have published frequently asked questions covering dormant accounts for practitioners.
