The report stage and third reading in the House of Commons for the Corporation Tax (Northern Ireland) Bill has been scheduled for 4 March 2015.
HMRC is consulting until 4 March 2015 on draft legislation for changes announced at Autumn Statement 2014 allowing any nominated beneficiaries, including non-dependants, to receive payments from an annuity on the death of a member. These beneficiaries’ annuities will be tax-free on the death of an individual before age 75. These changes supplement the Taxation of Pensions Act 2014, which introduced similar flexibility in relation to drawdown payments..
HMRC has issued a briefing on the transferable marriage allowance which comes into force from 6 April 2015. Spouses and civil partners with income below the income tax personal allowance can now register their interest online in transferring £1,060 of this allowance to their partner with effect from 6 April 2015. A formal application will still need to be made online after 6 April 2015. From 2016/17, the transferable amount will be 10% of the personal allowance for those born after 5 April 1938.
With the term of office of the current members of the EU VAT Forum expiring on 30 September 2015, the EC is calling for fresh applications to the EU VAT Forum with a view to selecting members representing business or tax practitioners. The EU VAT Forum is a structured dialogue platform to improve the relationship between the business and tax authorities in order to create conditions for a smoother functioning of the present VAT system in the EU, reducing costs and administrative burden on both sides.
The following updated drafts of Scottish regulations were published on 19 February:
The following has been published on HMRC’s website:
The report stage and third reading in the House of Commons for the Corporation Tax (Northern Ireland) Bill has been scheduled for 4 March 2015.
HMRC is consulting until 4 March 2015 on draft legislation for changes announced at Autumn Statement 2014 allowing any nominated beneficiaries, including non-dependants, to receive payments from an annuity on the death of a member. These beneficiaries’ annuities will be tax-free on the death of an individual before age 75. These changes supplement the Taxation of Pensions Act 2014, which introduced similar flexibility in relation to drawdown payments..
HMRC has issued a briefing on the transferable marriage allowance which comes into force from 6 April 2015. Spouses and civil partners with income below the income tax personal allowance can now register their interest online in transferring £1,060 of this allowance to their partner with effect from 6 April 2015. A formal application will still need to be made online after 6 April 2015. From 2016/17, the transferable amount will be 10% of the personal allowance for those born after 5 April 1938.
With the term of office of the current members of the EU VAT Forum expiring on 30 September 2015, the EC is calling for fresh applications to the EU VAT Forum with a view to selecting members representing business or tax practitioners. The EU VAT Forum is a structured dialogue platform to improve the relationship between the business and tax authorities in order to create conditions for a smoother functioning of the present VAT system in the EU, reducing costs and administrative burden on both sides.
The following updated drafts of Scottish regulations were published on 19 February:
The following has been published on HMRC’s website: