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New HMRC guidance

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HMRC has published the following:

  • Corporation tax losses: updated guidance split into two sets: one covers terminal losses, capital losses and property income losses; and the other covers trading losses;
  • Factsheet CC/FS17: Higher penalties for offshore matters: updates the September 2017 version with further clarification on offshore transfers and updated penalty percentages for failure to notify in respect of income tax and CGT;
  • Offshore disclosure facilities: updated to reflect enactment in Finance (No 2) Act 2017 of the new ‘requirement to correct’ undeclared offshore interests by September 2018;
  • Notice 143: Guide for international post users: updates the March 2017 version with additional information on the requirements for waiver of customs duty and import VAT relief on multi-gift packages (s 2.7); and
  • Notice 744B: freight transport and associated services: updates the December 2010 version with several changes in law and policy.