HMRC confirmed that ‘real time information’, a new system intended to improve the operation of PAYE, will go ahead.
Employers will report tax and NIC deductions when they pay their employees, rather than at the end of the tax year.
The Child Trust Funds (Amendment No. 2) Regulations, SI 2011/992, relax in some circumstances the requirement for CTF providers to issue annual statements.
HMRC invited comments by 10 June 2011 on draft regulations dealing with the collection and management of the Bank Levy and a revised draft chapter 4 of the Bank Levy Manual.
The OECD published a summary of a recent meeting between private sector representatives and delegates of a working party on the transfer pricing aspects of intangibles.
HMRC published guidance on the new 5% rate of Stamp Duty Land Tax which applies for residential property transactions where the chargeable consideration exceeds £1 million and the effective date is on or after 6 April 2011.
HMRC’s practice of ‘equitable liability’ provided a ‘relief of last resort’ for certain taxpayers who were unable to fully engage with the tax system.
Revenue & Customs Brief 12/11 explains the transitional arrangements that HMRC will operate in relation to increased time limits for excise duty assessments and claims to overpaid duty.
HMRC consider that the recent ECJ judgment in Finanzampt Burgdorf v Bog and other cases [2011] All ER (D) 150 (Mar) (the joined cases C-497/09, C-499/09, C-501/09 and C-502/09) has no implications for the UK VAT treatment of supplies of hot food.
HMRC released two new toolkits for tax agents last week, providing guidance on areas of possible error in tax returns.
The Climate Change Levy (Suspension of Recycling Exemption) Order, SI 2011/1023, suspends the exemption in respect of taxable commodities supplied for use in aluminium and steel recycling.