Inland Revenue[QQ] The Inland Revenue has published draft regulations and a statement of practice on tonnage tax to clarify details of the regime. (Press release, 17 May.) The latest indexation allowance for corporation tax on chargeable gains has been published. The RPI for April 2000 is 170.1 (January 1987 = 100). (Press release, 17 May.) The government is to introduce legislation concerning the payment of national insurance on share option gains. (Press release, 19 May.) The Inland Revenue’s website includes key points from the latest meeting of the government’s e-commerce consultation forum. HM Customs & Excise Customs has published its views on the implications of the Court of Appeal decision that changes the VAT treatment of certain postal services, whether or not mains electrical wiring and lighting systems are part of the fabric of a protected building, the extent to which supplies of soft landscaping may be zero-rated, the VAT treatment of vehicle clamping and tow-away fees, and updates to its retail schemes notices. Businesses paying their VAT electronically from 31 May will have an extra week to submit returns and pay. English ICA Tax Faculty The Faculty has submitted comments to Customs & Excise on VAT: UK undisclosed agents and commissionaires (TAXREP 19/00) and to the Revenue on insurance reserves (TAXREP 20/00).
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