HMRC have found time to translate guidance for an obsolete tax scheme.
David Whiscombe drew our attention this week to an intriguing HMRC update concerning the long-defunct Certificate of Tax Deposit (CTD) scheme. Although taxpayers have been unable to purchase CTDs since 2017 or use them to settle liabilities since 2023, HMRC nonetheless issued an update to the relevant guidance – in order to add a Welsh translation. Whiscombe observes that, while it is reassuring to know HMRC remain sufficiently well-resourced to refine guidance for an obsolete regime, some taxpayers might have preferred the retention of a scheme which offered protection against interest exposure – particularly following the increases to late payment interest rates announced in the October 2024 Budget.
HMRC have found time to translate guidance for an obsolete tax scheme.
David Whiscombe drew our attention this week to an intriguing HMRC update concerning the long-defunct Certificate of Tax Deposit (CTD) scheme. Although taxpayers have been unable to purchase CTDs since 2017 or use them to settle liabilities since 2023, HMRC nonetheless issued an update to the relevant guidance – in order to add a Welsh translation. Whiscombe observes that, while it is reassuring to know HMRC remain sufficiently well-resourced to refine guidance for an obsolete regime, some taxpayers might have preferred the retention of a scheme which offered protection against interest exposure – particularly following the increases to late payment interest rates announced in the October 2024 Budget.
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