Fine for lack of cooperation and default interest
Exclusion from the flat-rate scheme
Inaccuracies in a return
HMRC has confirmed that financial year 2017 (ending 31 March 2018) will not be an ‘excepted year’ for tonnage tax purposes.
The Isle of Man Treasury is consulting until 1 September on ending NICs contracting out of the state second pension for members of occupational pension schemes. The state second pension is due to cease in April 2019 with the introduction of the new Manx state pension.
HMRC has launched its new trusts and estates registration service, which replaces the paper form 41G(Trust) withdrawn in April 2017. All trusts with a UK tax consequence must register online, including those already registered using the paper form.
The Supreme Court has reserved its judgment on whether restitutionary claims for compound interest are prevented by statute, as HMRC argues, on a reading of whether VATA 1994 s 78 (official error) and s 80 (overpaid output tax) should be taken together.
HMRC has published the following: