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Callers incurred £33m of charges while on hold in 2011/12
Restricting offset of losses could suppress entrepreneurship, says CIOT
Failure to disclose could lead to 150% penalty
Transitional rules for chargeable periods that overlap 1 January
New powers will take effect in April
Commonsense view of reasonable excuse claims
Change to reasonableness test "promises focus on genuine abuse"
Process can take up to seven weeks
Email pilot; VAT Notes No 4; GAAR; Investment bonds; Editorial board
Effective from 21 November
80% of problems caused by bad info, warn HMRC
New amounts effective from 1 December 2012
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