News

Fit and proper person

HMRC have introduced new legislation relating to the fit and proper status of scheme administrators. From 1 September 2014, where the department believes the scheme administrator is not a fit and proper person to be the scheme administrator, the Revenue can refuse to register a new pension scheme or de-register an existing registered pension scheme.

Television programme maker Tiger Aspect Productions would still like to speak to people with tax problems – almost six months after it first announced plans for a Channel 4 documentary series.

The company intends to film over an extended period this year, following taxpayers as they deal with a broad range of issues, including accelerated payment notices, working tax credit overpayments, inheritance tax bills, and concerns about planning schemes.

Support continues to grow for our Power Too Far campaign

Museums scheme

The list of institutions that can access the VAT refund scheme that helps museums and galleries with the costs of providing free access to the public is to be extended.

VAT notices

Notice 700/12: How to Fill in and Submit Your VAT Return and Notice 179: Motor & Heating Fuels: General Information and Accounting for Excise Duty and VAT have been revised, replacing the April 2014 and May 2013 versions respectively.

Half a million taxpayers have yet to submit their 2012/13 self assessment tax returns, HMRC have revealed as the department stands to collect thousands of pounds in fines for late filing.

“The figures are broadly the same as earlier years,” said a Revenue spokesperson. “We will enforce collection of every single penalty. There is no single reason why taxpayers have not filed. We urge those who have not filed to do so online now.

Edinburgh took a step closer to operating its own version of HMRC this week, after the Scottish parliament passed the Revenue Scotland and Tax Powers Bill.

The chair of the Chartered Institute of Taxation’s (CIOT) Scottish technical subcommittee, Moira Kelly, welcomed “positive changes” that give Scotland the legal basis for authority over devolved taxes.

Planned new criminal offence assumes guilt, say experts

MOSS

HMRC have launched a technical consultation on the amendments to the VAT regulations arising as a consequence of the introduction of the mini one-stop shop (MOSS), which will allow businesses to register in one EU member state.

RTI 201 letters

A batch of RTI 201 letters containing incorrect information about overpayments has been sent to employers and agents in error. Employer or agent who receiving such a letter in August should ignore it. The Revenue reminds employers they can check their tax position on the business tax dashboard.

HMRC have set a closing date of the tax ‘amnesty’ relating to employee benefit trusts (EBTs).

Employers who used an EBT to avoid tax before 6 April 2011 must notify the department by 31 March 2015 that they wish to take advantage of the beneficial terms of the settlement opportunity to resolve PAYE and National Insurance liabilities.

All amounts due are due by 31 July 2015 unless the employer has in place a signed time-to-pay agreement.

The government has published an update to the consultation Implementing a Capital Gains Tax Charge on Non-Residents, covering the extension of capital gains tax (CGT) to non-resident individuals and close companies.

The consultation, launched in March, explained how pension funds and other diversely owned collective investment funds were not intended to be brought in scope of the extension of CGT to non-residents.

CIOT predicts level playing field for access to alpine tax agreement

Annual allowance

HMRC have published a draft statutory instrument, together with guidance and an explanatory memorandum, on the pensions annual allowance, which alters legislation following changes in FA 2011. Comments should be emailed by 27 August.