Taxation Checklist – Net trading encouraged

Taxation Checklist - Net trading encouraged

Customs business brief; English ICA lecture on tax law rewrite programme.

INLAND REVENUE

rief; English ICA lecture on tax law rewrite programme. The Inland Revenue and Customs & Excise have released a joint paper setting out their views on UK tax policy towards trading on the Internet. (Release dated 6 October.)

Regulations have been set paving the way for more electronic exchange of information between the Inland Revenue and employers, with effect from the next tax year. (Release dated 7 October.)

Changes have been made to the turnover test for the new Construction Industry Tax Scheme. This will allow all construction turnover to be counted for all the turnover tests. The new scheme comes into effect from next August. (Release dated 6 October.)

For more details call 0171 438 6420 or visit http://www.inlandrevenue.gov.uk

CUSTOMS & EXCISE

The latest Customs business brief (Ref: 21/98) covers the tour operators’ margin scheme and the treatment of discounts funded by travel agents.

(Release dated 9 October).

ENGLISH ICA TAX FACULTY

A lunchtime lecture will take place in London on 9 December on the tax law rewrite programme. It will be delivered by Maurice Parry-Wingfield, tax consultant at Deloitte & Touche. Call the English ICA Tax Faculty on 0171 920 8646 or visit the website at http://www.icaew.co.uk

CHARTERED INSTITUTE OF TAXATION

Recent CIoT submissions in the public domain include representations sent on the 1999 Budget (8 October), and a submission on the VAT registration threshold review (12 October) in response to Customs consultation. Call the technical department on 0171 235 9381 or visit the website at: http://www.tax.org.uk

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