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Consultation on ESCs withdrawal

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HMRC is consulting until 27 January 2016 on the potential impact of the proposed withdrawal of nine extra-statutory concessions (ESCs) with effect from April 2017. Of these concessions, four relate to income and corporation tax, four to VAT and one to excise duty.

The nine ESCs in question are as follows:

  • A94: Profits and losses of theatre backers (Angels) (income/corporation tax);
  • A69: Building societies: conversion to company status (income tax);
  • C1: Credit for underlying tax: dividends from trade investments in overseas companies (income/corporation tax);
  • BIM66301: Remuneration of sub-postmasters (income/corporation Tax);
  • Para 9.8 Notice 708: Apportionment of works of approved alterations to a qualifying protected building (VAT);
  • 3.23 VAT: supplies by Financial Ombudsman Services Ltd to ombudsman authorities (VAT);
  • 3.28 VAT: supplies by Financial Services Authority to self-regulating organisations (VAT);
  • 3.31 VAT: supplies by Financial Services Compensation Scheme Ltd to compensation scheme authorities (VAT); and
  • 6.2 Excise: hydrocarbon oil duties: duty-paid deliveries for refinery boilers (excise duty).


Issue: 1285
Categories: News