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Micro-entities
The Revenue has enhanced its online filing software for unrepresented companies with straightforward affairs, to allow micro-entities to file simplified corporation tax accounts – and firms will be able to send basic micro-entity accounts to Companies House from mid-November.
Tax summaries
About 24m people are to receive an annual summary to explain how their income tax and National Insurance contributions have been calculated for the year and how the money was spent by the government.
Micro-entities
The Revenue has enhanced its online filing software for unrepresented companies with straightforward affairs, to allow micro-entities to file simplified corporation tax accounts – and firms will be able to send basic micro-entity accounts to Companies House from mid-November.
Tax summaries
About 24m people are to receive an annual summary to explain how their income tax and National Insurance contributions have been calculated for the year and how the money was spent by the government.
Museums VAT
The VAT (Refund to Museums and Galleries) (Amendment) Order 2014 SI 2014/2858 has been published.
Unit trusts
As a result of changes to the tax regime for unauthorised unit trusts (UUTs), some trusts have been brought into the charge to corporation tax. HMRC remind large non-exempt UUTs that, they will be liable to pay tax by quarterly instalment payments. The instalment will be payable six months and 13 days after the start of the accounting period.
Global exchange
The UK and 50 other countries have signed a new agreement to exchange financial information automatically. Under the accord, data includes account balances, interest payments and beneficial ownership.
Gambling
The online gambling tax service opened on 3 November. Under changes from 1 December, businesses will need to register if they are to start to pay general betting duty, pool betting duty or remote gaming duty.
