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In brief: 11 July 2019

08 July 2019
Issue: 4703 / Categories: News
Tax credits; GAAR panel; National Insurance; Departmental plan; Entrepreneurs' relief; Beneficial ownership

Tax credits

People who claimed tax credits during 2018-19 and who have received renewal forms from HMRC must act by 31 July. From this year HMRC is no longer taking new tax credit claims.

GAAR panel

The general anti-abuse rule (GAAR) advisory panel has published its opinion on arrangements designed to benefit participators in a close company involving joint acquisition of a second-hand bond additional contributions exercise of ‘cooling off rights’ and the use of gilt options. It concluded that the entering into and carrying out of the arrangements was not a reasonable course of action in relation to the relevant tax provisions.

National Insurance

HMRC’s Countdown Bulletin issue 46 has articles on the scheme financial reconciliation 19 July deadline scheme financial allocations and problems accessing the shared workspace service.

Departmental plan

HMRC has updated its single departmental plan setting out its objectives for...

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