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Professional fees
The Income Tax (Professional Fees) Order SI 2014/859 amends ITEPA 2003, s 342 and adds a further two categories of professional fees to those allowable. First, a trainee registration fee providing evidence of a person’s suitability to be awarded a certificate of completion of specialist training in dentistry. Second, a fee to enter a name on any list or register of veterinary nurses maintained by the Royal College of Veterinary Surgeons.
Professional fees
The Income Tax (Professional Fees) Order SI 2014/859 amends ITEPA 2003, s 342 and adds a further two categories of professional fees to those allowable. First, a trainee registration fee providing evidence of a person’s suitability to be awarded a certificate of completion of specialist training in dentistry. Second, a fee to enter a name on any list or register of veterinary nurses maintained by the Royal College of Veterinary Surgeons.
DOTAS
HMRC statistics show that 11 schemes were disclosed under the main disclosure of tax avoidance schemes in the six-month period ended 31 March 2014. Fewer than five schemes were disclosed in respect of inheritance tax, stamp duty land tax and the annual tax on enveloped dwellings respectively.
NIC interest
Statutory Instrument 2014/1016 came into force on 6 May 2014 and makes provision for the payment and repayment of interest on late and overpaid Class 1 NICs.
Landfill tax
HMRC have published Notice LFT1: A general guide to landfill tax (April 2014), which replaces the July 2013 version of LFT1.
Overseas pensions
An updated list of qualifying recognised overseas pension schemes (QROPS) has been published by HMRC.
HMRC toolkits
HMRC have updated the company losses, property rental, and directors’ loan account toolkits.
