James Bullock identifies the 2010 developments affecting tax dispute resolution
The Treasury published on 9 December, alongside draft clauses for Finance Bill 2011, summaries of responses to recent consultations and further information in relation to:
The Treasury launched on 9 December 2010 a consultation on draft legislation for Finance Bill 2011. The following brief outline of the measures is based on the Treasury’s overview and draft explanatory notes.
The Income and Corporation Taxes (Electronic Communications) (Amendment) Regulations, SI 2010/2942, create additional exceptions to the general rule that those delivering company tax returns must use an approved method of electronic communications to do so, starting on 1 April 2011 for corporatio
The Value Added Tax (Amendment) (No.
The London Olympic Games and Paralympic Games Tax Regulations, SI 2010/2913, implement tax commitments made by the UK in bidding to host the Olympic and Paralympic Games.
The Finance Act 2010, Section 23 and Schedule 2 (High Income Excess Relief Charge) (Repeal) Order, SI 2010/2938, repeals FA 2010 s 23 and Sch 2, which would have amended FA 2004 Part 4 with effect from 2011/12 to restrict of pension tax relief to the basic rate for high income individuals.
The Insurance Companies (Calculation of Profits: Policy Holders’ Tax) (Amendment) Regulations, SI 2010/2932, amend the Insurance Companies (Calculation of Profits: Policy Holders’ Tax) Regulations, SI 2003/2082, which provide for a deduction for tax expended on behalf of policy holders or annuita
The Tax Treatment of Financing Costs and Income (Available Amount) Regulations, SI 2010/2929, widen the range of financing costs to be included in the ‘available amount’ by reference to which the debt cap – the ceiling on the total interest and other specified financing expenses which may be dedu
The National Insurance Contributions (Application of Part 7 of the Finance Act 2004) (Amendment) Regulations, SI 2010/2927, amend the National Insurance Contributions (Application of Part 7 of the Finance Act 2004) Regulations, SI 2007/785, which make provision corresponding to FA 2004 Part 7 (di