HMRC has begun sending out what it calls ‘encouragement letters’ to businesses within the scope of MTD for VAT. The letters are being sent to businesses which are currently eligible to join the pilot, but are not being copied to agents.
The GAAR advisory panel has issued two new opinions, each involving a form of contractor loan scheme and transfer of creditor rights to an employer financed retirement benefit scheme (EFRBS).
As announced at Budget 2018, HMRC has issued a call for evidence on the different processes that exist across the various taxes for making amendments to tax returns, with a view to introducing a more consistent digital experience for taxpayers.
HMRC has published the following:
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.