All payments in lieu of notice (PILONS) made on or after 6 April 2018 will be subject to income tax and NICs, as changes introduced by Finance (No 2) Act 2017 come into force.
The CIOT highlights ‘complexity and potential confusion’ for taxpayers in the new Scottish income tax rates and bands which took effect from 6 April, while the Scottish government welcomes a ‘progressive tax system’.
The Welsh Revenue Authority (WRA) has added further sections to its technical guidance on the land transaction tax covering various reliefs. The following chapters are now available:
HMRC chief executive, Jon Thompson, has confirmed in a letter to the chair of the public accounts committee, Meg Hillier, that a collaboration agreement for data sharing with online marketplaces will be published this month (see https://bit.ly/2qqhrwK).
The OECD has published the second edition of its implementation handbook for the common reporting standard (CRS), replacing the version issued in August 2015. Changes in the second edition include an expanded trust section in relation to the identification of controlling persons.
HMRC is consulting until 4 June 2018 on three options for changing the current 6-month accounting period for gaming duty. The government announced at Autumn Budget 2017 its intention to consult on bringing the administration of gaming duty more into line with the other gambling duties.
HMRC has published the following:
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