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In brief: retail export scheme; Swiss CT reform; Wales; anti-money laundering; HMRC updates

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VAT retail export scheme HMRC event

HMRC has published Revenue & Customs Brief 34/2014: VAT retail export scheme – market engagement on a digital solution, in which HMRC invites businesses wishing to be involved in development of a digital system for tax-free shopping (the VAT retail export scheme) to register by 14 October 2014 for an event to be held later in October.

Switzerland draft legislation on CT reform

The Swiss federal government has published draft legislation on the ‘corporate tax reform III’. The objective of the reforms, which are likely to become effective on 1 January 2019, is to enhance Switzerland’s attractiveness as a location for multinational companies.

\Wales devolved taxes consultation

The Welsh government has released a white paper, Collection and management of devolved taxes in Wales, for public consultation until 15 December 2014. The Wales Bill currently before the UK Parliament sets out new fiscal powers for Wales, including powers to borrow for capital investment and powers in relation to taxation. The consultation, which is the first of three consultations on Welsh taxes, covers: proposals to establish the Welsh Revenue Authority; options for the efficient and effective collection of Welsh taxes; actions to encourage tax compliance and tackle non-compliance (including tax avoidance); and arrangements for resolving tax disputes.

Anti-money laundering fees consultation

HMRC has published an informal consultation, Anti-money laundering supervision: HMRC fees review, inviting views on the way it charges fees to the businesses it supervises under the money laundering regulations. Views on the proposals should be sent by 21 November 2014.

HMRC updates

HMRC has issued the following on its website:

  • updated Inheritance tax toolkit for completing form IHT400 for deaths after 6 April 2014;
  • updated charities guidance for gift aid on donations that attract a right of free admission to charity property;
  • revised Notice 452 on machine games duty;
  • guidance note and Q&A setting out details of the new due diligence requirement for alcohol traders from 1 November 2014 for approval as excise traders;
  • amended employer helpbook, CWG2: Further guide to PAYE and NIC;
  • an update about the implementation of new rules for certain gambling taxes on 1 December 2014 (Gambling tax reform update 3, September 2014), notifying that HMRC is writing to existing gambling operators for information to update its new IT system before the new rules come into effect;
  • updated list of registered community amateur sports clubs;
  • the official rate of interest, which will remain at 3.25% for the next quarter from 6 October.
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