Business

HMRC's light touch approach comes to an end at the beginning of October with regard to penalties for late CIS returns.

Now that the first few contractor monthly returns have been submitted under the new construction industry scheme, HMRC have provided some pointers on filing returns on the basis of those returned so far.

HMRC have decided to shut down the following helplines: the CIS orderline, the subcontractors helpline, and the contractors helpline

A relatively new building contractor client — who trades through a limited company — has recently brought in his first year's records. Despite our advice to the contrary, instead of treating his own drawings as director's remuneration — and subject to PAYE — he has treated them in the same way as payments to his subcontractors; i.e., taxed under the building industry subcontractors' scheme.

Large business

Back in November 2006, HMRC committed to deliver all the proposals in the Review of links with large business (see Update, Taxation, 23 November 2007, page 184). In light of this, HMRC have announced a number of measures.

Efficient risk-based approach

ANDY WELLS reviews HMRC's Consultative Paper on Compliance Checks of 17 May 2007.

KEITH M GORDON considers the Chancellor's proposals to withdraw allowances for agricultural and industrial buildings and explains why nobody should have expected their sudden abolition.

Operating the new construction industry scheme is not going to be easy, warns ANDREW GOTCH.

ALUN OLIVER suggests that the Chancellor, in his latest Budget, has launched an extremely costly raid on property investors.

PAYE online; 2007-08 codes; money laundering regulations; Statement of Practice 13/91 withdrawal; charitable advantages; CIS factsheets; trusts change; retail prices index Jan 07

PAULA TALLON, KEITH GORDON, MIKE TRUMAN and CHRIS JONES spoke at the Taxation Breakfast Briefing on 20 September in the Waldorf Hotel.

The fuel rates for company cars have been revised by HMRC.