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Early day motion 547

October deadline; Share schemes; DOTAS; Child tax credit; Corporation tax

HMRC report a continuing downward trend.

Higher rate for additional residential properties.

Contracting out

Countdown Bulletin 20 has been published (tinyurl.com/ztzbkp2). It provides guidance and information for pension scheme administrators about the ending of contracting out.

Tax evasion

A summary of responses to HMRC’s consultation, Legislation and guidance for a corporate offence of failure to prevent the criminal facilitation of tax evasion, is available at tinyurl.com/heat2vm.

Inheritance tax

HMRC has published Employer Bulletin 62 (tinyurl.com/eb62oct). Summaries of some of the articles follow.

Making Tax Digital

HMRC includes an item on the Making Tax Digital (MTD) consultations, focusing in particular on MTD: Transforming the tax system through better use of information. The bulletin states that the consultation focuses on how HMRC will make better use of the information received from third parties, including employers’ real-time information (RTI) submissions.

Fiscal consolidation was the key driver of tax reforms in the years after the global economic crisis, but the main emphasis now has shifted to measures to boost economic growth, according to a new report from the Organisation for Economic Co-operation and Development (OECD).

Tax Policy Reforms in the OECD provides an overview of the changes that were implemented, legislated or announced in the 35 OECD nations in 2015. The report – the first edition of a new annual monitoring exercise – identifies common tax policy trends across the members.

On 1 October 2016 the national minimum wage (NMW) rates increased:

The rate for workers aged 21 and over rises to £6.95.
For workers aged between 18 and 20, the rate is £5.55.
The rate for workers aged under 18 is £4.
The apprentices’ rate is £3.40. This is for apprentices aged 16 to 18 and those aged 19 or over who are in their first year. All others are entitled to the NMW for their age.

The national living wage rate for adults aged 25 and over remains £7.20.

New section VDIM9025 (joining a VAT group) has been added to HMRC’s VAT Default Interest Manual.

It confirms that, when a taxpayer is deregistered under its existing registration number on joining a VAT group, the representative member of that group is not liable for the new member’s previous liabilities before it joined the group – only future VAT due.

In addition, interest can continue to be charged by HMRC on an assessment issued to the taxpayer before it joined the VAT group.

Malcolm Gunn pays tribute to a former deputy editor of Taxation.

Practitioner refused to co-operate in tax evasion investigation.

New use and enjoyment provision for insurers outside EU.

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