Inland Revenue[QQ] New rates of interest on tax paid late and on tax overpaid will begin from 6 February 2000. People currently working through personal service companies whose contracts extend beyond 6 April may seek an opinion from the Revenue. (Guidance is also being published in Tax Bulletin and on the Internet.) Draft clauses on the tax treatment of companies which draw up their accounts in a foreign currency have been published for comment by 3 March 2000. The Revenue’s home page is www.inlandrevenue.gov.uk English ICA Tax Faculty The Faculty has made a submission to the Revenue on corporate venturing (TAXREP 8/00). To obtain a copy, e-mail VWood@icaew.co.uk Customs & Excise New rates of interest charged and paid by Customs take effect from 6 February 2000. A new ‘Starting a Business?’ pack has been published by Customs and the Inland Revenue. It is available from the Revenue orderline on 08457 646 646 or can be obtained from the Customs’ Business Advice Centres. Customs’ home page can be found on www.hmce.gov.uk Chartered Institute of Taxation CIoT has made submissions on the new employee share ownership arrangements: Enterprise Management Initiatives on 3 February 2000; and on the Corporate Venturing Scheme: Draft legislation and commentary on 3 February 2000 in response to the Inland Revenue consultation document of December 1999. For more details contact the Technical Department on 0171 235 9381 or access website at: www.tax.org.uk.
Drastically fewer offices for HMRC in the hope to reduce their running costs
Tayabali Tomlin and d&t directors launch £20 a month TaxGo service, aiming to be the 'biggest UK firm' by client numbers
Companies must report on their complex financial structures including offshore accounts and notify HMRC
An examination by the Public Accounts Committee (PAC) has revealed serious concerns relating to HMRC’s plans