The Finance Bill is due to be published on Thursday 27 March.
Finance Bill 2014
The Finance Bill is due to be published on Thursday 27 March.
Offshore employment intermediaries
HMRC has updated its National Insurance Manual with new section NIM33700 covering the new rules for offshore employment intermediaries. Two sets of NIC regulations were published on 14 March and the income tax rules are contained in the draft Finance Bill 2014. Guidance for the Employment Status Manual is still in draft form. The new tax and NIC rules for offshore employment intermediaries come into force from 6 April 2014. HMRC has published guidance about the changes on its website, which can be viewed via its website.
Venture capital trusts
HMRC has published on its website its view on the tax treatment of venture capital trusts (VCTs) and investors in VCTs (see the PDF on the HMRC website). The information is a summary of HMRC’s existing guidance, published in response to requests for clarification of issues that have received recent media attention. HMRC says the publication of this note does not represent a change in policy or in HMRC’s application of the conditions for VCT approval.
HMRC given pension scheme registration powers
New legislation was announced at Budget 2014 which will provide HMRC with new information powers for reviewing applications for pension scheme registration, as well as penalties. Further details can be viewed on HMRC’s website.
Class 2 NIC debts
HMRC has issued a reminder on its website that class 2 NIC debts are to be collected through individual’s PAYE codes from April 2014 or passed to a private debt collection agency for recovery.
Landfill tax regulations
HMRC has published The Landfill Tax (Amendment) Regulations, SI 2014/707, which comes into force on 1 April 2014. This statutory instrument amends the maximum credit that landfill site operators may claim against their annual landfill tax liability for contributions made to bodies concerned with the environment enrolled under the landfill communities fund.
Gambling tax reform note
HMRC has published an information note (Information Note 3) on its website giving advice on the appointment of a UK representative, enforceable assets, enforcement measures and transition arrangements for remote gambling operators in preparation for reformed tax changes to place of consumption, effective from 1 December 2014. The note can be viewed in PDF form on HMRC’s website.
The Finance Bill is due to be published on Thursday 27 March.
Finance Bill 2014
The Finance Bill is due to be published on Thursday 27 March.
Offshore employment intermediaries
HMRC has updated its National Insurance Manual with new section NIM33700 covering the new rules for offshore employment intermediaries. Two sets of NIC regulations were published on 14 March and the income tax rules are contained in the draft Finance Bill 2014. Guidance for the Employment Status Manual is still in draft form. The new tax and NIC rules for offshore employment intermediaries come into force from 6 April 2014. HMRC has published guidance about the changes on its website, which can be viewed via its website.
Venture capital trusts
HMRC has published on its website its view on the tax treatment of venture capital trusts (VCTs) and investors in VCTs (see the PDF on the HMRC website). The information is a summary of HMRC’s existing guidance, published in response to requests for clarification of issues that have received recent media attention. HMRC says the publication of this note does not represent a change in policy or in HMRC’s application of the conditions for VCT approval.
HMRC given pension scheme registration powers
New legislation was announced at Budget 2014 which will provide HMRC with new information powers for reviewing applications for pension scheme registration, as well as penalties. Further details can be viewed on HMRC’s website.
Class 2 NIC debts
HMRC has issued a reminder on its website that class 2 NIC debts are to be collected through individual’s PAYE codes from April 2014 or passed to a private debt collection agency for recovery.
Landfill tax regulations
HMRC has published The Landfill Tax (Amendment) Regulations, SI 2014/707, which comes into force on 1 April 2014. This statutory instrument amends the maximum credit that landfill site operators may claim against their annual landfill tax liability for contributions made to bodies concerned with the environment enrolled under the landfill communities fund.
Gambling tax reform note
HMRC has published an information note (Information Note 3) on its website giving advice on the appointment of a UK representative, enforceable assets, enforcement measures and transition arrangements for remote gambling operators in preparation for reformed tax changes to place of consumption, effective from 1 December 2014. The note can be viewed in PDF form on HMRC’s website.
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