In brief: 11 July 2019

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.

tinyurl.com/hmrctcr

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.

tinyurl.com/gaarpjul

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.

tinyurl.com/hmrccb46

Departmental plan

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