Revenue explains new tax and NIC rules; CIoT comments on Finance
Inland Revenue[QQ] The Revenue has created a New Enterprise Support Initiative (NESI). This consists of a telephone helpline dedicated to new and small employers, and locally based business support teams who offer help and advice on all aspects of payroll. (Press release, 11 May 2000.) The Revenue has posted, on its website, an invitation to comment on draft regulations and a statement of practice on tonnage tax. The Revenue has also issued leaflet ‘IR175 – Supplying services through a limited company or partnership’, which explains the new tax and national insurance contributions rules being introduced from 6 April 2000. The Inland Revenue’s home page can be found at www.inlandrevenue.gov.uk English ICA Tax Faculty The Faculty has submitted comments to the Revenue’s tax law rewrite team on the draft capital allowances Bill (TAXREP 16/00), the chancellor on the Finance Bill (TAXREP 17/00) and government on the Grabiner report (TAXREP 18/00). Copies of the first two are available by phoning the English ICA on 01908 225122, faxing 01908 226594 or e-mailing: VWood@icaew.co.uk. The Tax Faculty is open to all chartered accountants. Anyone interested in joining the Faculty should call 020 7920 8646. The Tax Faculty’s home page is www.taxfac.co.uk. The Chartered Institute of Taxation The institute has made its representations on the Finance Bill 2000 (11 May 2000). For more information, contact the Technical Department on 0207 235 9381 or visit the Institute’s website at: http://www.tax.org.uk.