Gifts to political parties and IHT
Compensation for mis-selling is income
Sale of properties by pension plan
In its latest report on HMRC’s performance, the Public Accounts Committee (PAC) has warned the department not to ‘lose sight of its wider responsibilities to UK taxpayers’ amid the ‘daunting’ workload of Brexit preparations.
HMRC has confirmed in Employment-related Securities Bulletin 30 that enterprise management incentive (EMI) share options granted between 7 April 2018 and 15 May 2018 will continue to receive tax advantages under the EMI scheme.
The government has accepted the Low Pay Commission’s recommendations for the new national living wage and national minimum wage rates, which will come into force in April 2019.
The Child Tax Credit (Amendment) Regulations, SI 2018/1130, ensure that a family can receive child tax credit for up to two further children, even if there are already children in the household who are adopted or cared for under a non-parental arrangement.
The average length of time HMRC takes to settle tax inquiries into large businesses has risen to more than three years, according to figures obtained by Pinsent Masons. The average of 39 months in 2017/18 was up 15% from 34 months in 2016/17.
The chair of House of Lords Economic Affairs Finance Bill sub-committee, Lord Forsyth of Drumlean, is pressing HMRC for an answer to the committee’s request for a breakdown of the amounts involved in the 5,000 settlements so far agreed in respect of the disguised remuneration loan charge.