In brief

Wales

A new property bill has introduced the first Welsh tax in almost 800 years. The Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Bill replaces stamp duty land tax in Wales from April 2018. The bill sets out the types of transactions to be covered the procedure for setting rates and bands how the tax will be calculated and what reliefs will apply.

Gift aid

HMRC has updated two spreadsheets: GASDS community buildings schedule – Excel; and GASDS community building schedule – LibreOffice. Both contain additional information highlighted in red on how to complete the schedules. See here.

VAT

Notice 700/50: default surcharge and Notice 723A: refunds of VAT in the European Community for EC and non-EC businesses have been updated. They cancel and replace the December 2011 and October 2011 versions respectively.

Investment

HMRC has published...