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Time to pay
Exchequer secretary to the Treasury David Gauke, in reply to a written question in the House of Commons, said that for the year to August 2011, HMRC entered into 70 time-to-pay arrangements involving £1m or more. Despite having the power to do so, in none of those arrangements did HMRC insist on an independent business review being prepared.
Hansard, 10 October 2011, vol 533, no 203, col 138W
VAT manual
HMRC’s V1-08A: Construction Manual has been rewritten to reflect current policy and to clarify those areas where previous advice may have been unclear.
Bank levy
HMRC have produced a list of foreign deposit protection schemes that are comparable to the Financial Services Compensation Scheme.
ISA Bulletin 37
The latest ISA bulletin is available. It contains articles on amendments to the guidance notes and stock dividends.
VAT cancellation
The application to cancel VAT registration (form VAT 7) PCU (May 1998) has recently been revised. Taxpayers should now use the new form VAT 7 HMRC 09/11, which is available on the department’s website.
