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In brief: UK Uncut; oil and gas; ATED; child benefit; Scottish landfill; VAT fines; guidance

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UK Uncut protests planned

UK Uncut has announced that it will make Vodafone the target of a ‘national day of action … in protest against tax dodging activities’.  The protests are planned to take place on 14 June.

Oil and gas forum

Financial Secretary to the Treasury Nicky Morgan met the heads of the oil and gas industry in Aberdeen on 20 May 2014 for the first time since the Budget, when a review into the tax treatment of the industry was announced. This fiscal forum outlined the scope and objectives of the review of the fiscal regime, looking at the longer term tax treatment of the industry, including field allowances and how best to use the tax regime to incentivise investment. The initial findings of the review will be reported in the Autumn Statement.

Annual tax on enveloped dwellings

The Annual Tax on Enveloped Dwellings (Indexation of Annual Chargeable Amounts) Order, SI 2014/854, sets out the annual chargeable amounts of the ATED for the period beginning on 1 April 2014, in line with the ‘all items’ consumer prices index published by the Office of National Statistics.

Child benefit and child tax credit: ‘full time education’

The Child Benefit (General) and Child Tax Credit (Amendment) Regulations, SI 2014/1231, come into force on 4 June 2014. These regulations amend the SSCBA 1992 and the Tax Credits Act 2002 to add ‘16–19 study programmes’ to the list of schemes qualifying as full-time education or training for the purpose of child benefit and child tax credit. Under these regulations, a person responsible for a young person participating in a 16–19 study programme in England will therefore be able to establish entitlement to child benefit and child tax credit. Further amendments reflect the changes made to various training provisions available in Scotland and Northern Ireland.

Consultation on Scottish landfill tax

Scottish landfill tax will replace UK landfill tax from 1 April 2015. The Landfill Tax (Scotland) Act 2014 received Royal Assent on 21 January 2014. The Scottish government is now consulting until 31 July 2014 on draft secondary legislation, including ways in which the tax can operate effectively and efficiently in Scotland. The consultation also includes questions on proposals relating to the funding mechanism and operational structure of the Scottish Landfill Communities Fund.

1 in 2 HMRC VAT fines against businesses ruled incorrect

49% of the 17,200 automatic penalties HMRC issued for the late filing of VAT in 2013 were overturned when taxpayers requested an internal review, according to figures obtained by national accountancy group UHY Hacker Young. In comparison, a much smaller percentage of the decisions on VAT penalties or tax due made by an officer were overturned on internal review (28% of 2,200 appeals).

HMRC guidance

New HMRC guidance is available from HMRC’s website, including:

  • Pensions schemes newsletter 62, with articles on: fixed protection 2014 applications received; HMRC confirmation that arrears of annuities paid where a provider agrees to backdate payments will be authorised pension payments; common questions on registering a new pension scheme; RPSM updates; HMRC requests for information on pension scheme transfers; and new contact email address.
  • the fifth list of deliberate defaulters;
  • update to the charities online demonstrator;
  • tax credit claims and renewals: HMRC will be sending text messages to some taxpayers until 5 August 2014 acknowledging receipt of claims for tax credits and tax credit renewals made by post;
  • compensatory interest rates for inward processing relief & temporary admission;
  • Customs information papers on temporary admission (changes to CHIEF); the Swiss corridor (T2) simplified transit procedure; and claims for the repayment of secured provisional anti dumping and countervailing duty.
  • Tariff notices 31/14, 32/14, 33/14, 34/14, 35/14; and tariff stop press notice 31/14.
Issue: 1217
Categories: News