The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations, SI 2010/2834, amend with effect from 1 January 2011 some of the descriptions of schemes that are required to be disclosed, in order to ‘improve their focus upon tax avoidance’.
In a move to cut costs, HMRC will no longer send written confirmation of the User ID to new users registering to use an online service.
HMRC will continue to issue the Activation Code by letter, and will send a letter when a customer has lost the User ID.
HMRC has presented a series of awards for advancing transparency in tax. In a ceremony at 11 Downing Street Dave Hartnett, HMRC’s Permanent Secretary for Tax, said: ‘Making the tax system simple and transparent is of vital importance. HMRC has to recognise that we cannot do this alone.’
A survey of tax agents on the filing of self assessment tax returns will remain open until midnight on Sunday, 28 November, the CIOT has said.
The second reading of the Bill introducing the regional NICs holiday for new businesses is set to take place in the House of Commons on Tuesday, 23 November.
Tax agents are being asked to complete a short survey on the filing of individuals’ self assessment returns.
Contractors who are charged penalties for late filing of monthly returns may elect for the penalties to be re-calculated under new rules introduced by FA 2009 Sch 55 and set to take effect in October 2011, HMRC has announced.
The Tax Avoidance Schemes (Penalty) (Amendment) Regulations, SI 2010/2743, prescribe increased maximum daily penalties for failure to comply with certain disclosure obligations where a tax tribunal has made a disclosure order.
Smaller charities wishing to use HMRC’s free software to file corporation tax returns may continue to file the supporting accounts in PDF format instead of iXBRL format for a transitional period, HMRC has announced.
Richard Carson examines a recent Tribunal decision indicating that taxpayers are unable to rely on the content of HMRC Manuals