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In brief, issue 4381

27 November 2012
Issue: 4381 / Categories: News
RPI; Taskforces; CFC reform; VAT; Property rights; VAT for museums


The value of the retail prices index for September and October 2012 was 244.2 and 245.6 respectively.


The rental property sector in the south east and the Scottish alcohol industry are the latest groups of traders to come under HMRC’s scrutiny, as the department launched taskforces focusing on these businesses. This brings the number of taskforces introduced since May 2011 to 30.

CFC reform

Further draft guidance on the new controlled foreign companies (CFC) rules has been published. It covers chapters 2 (the CFC charge), 20 (residence) and 21 (management).


The latest version of VAT notice 701/57, “Health professionals and pharmaceutical products”, has been published. It replaces the previous version published in November 2011.

Property rights

HMRC have published a new version of notice 34, “Intellectual property rights”. It cancels the version published in June 2010.

VAT for museums

Statutory Instrument 2012/2731 and an explanatory memorandum, “VAT (refund of tax to museums and galleries) (amendment) order”, are available.


Issue: 4381 / Categories: News
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