PracticeConsultingTaxes for company cars.

Taxes for company cars.

Reduced tax for occupational pension schemes; Lord Grabiner on income

Inland Revenue[QQ] The Revenue has published new editions of leaflets IR1: Extra Statutory Concessions and IR131: Statements of Practice. (Press release, 3 March.) The Revenue has also published a leaflet IR172 on the tax treatment of company cars. It updates and replaces leaflets IR132 and IR133. (Press release, 7 February.) The tax charge on the repayment by occupational pension schemes of surplus employee additional voluntary contributions is reduced from 33 % to 32% with effect from 6 April. (Press release, 7 February.) The Revenue’s home page is www.inlandrevenue.gov.uk A report by Lord Grabiner on the informal economy recommends inter alia – a new statutory offence of fraudulently evading income tax. (Press release, 9 March.) The Treasury’s home page is www.hm-treasury.gov.uk Chartered Institute of Taxation Submission sent on local currency representations (Forex) in response to draft clauses on 3 March 2000. The Chartered Institute of taxation is the leading professional body in the UK concerned solely with taxation. For further information, contact the Technical Department on 020 7235 9381 or visit the Institute’s website at: www.tax.org.uk English ICA Tax Faculty The Faculty, jointly with other bodies whose members practice tax, has issued revised guidance on professional conduct in relation to taxation (TAXGUIDE 1/00). For a copy, e-mail: VWood@icaew.co.uk. The Tax Faculty is open to all chartered accountants. Anyone interested in joining should call 020 7920 8646 and ask for the latest prospectus.

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