Draft euro regulations

Draft euro regulations

Retail price index; budget representations; annual report; tax on savings income.

Highlights of the latest technical information available for the taxvings income. practitioner.

Inland Revenue,/b>

The Inland Revenue has released draft regulations to cover the tax consequences of the euro’s introduction. Comments are requested by 9 December 1998.

(Press release dated 18 November.)

The October 1998 RPI, for the purposes of calculating the indexation allowance for corporation tax on chargeable gains, has been released.

The relevant figure is 164.5.

For more information, call 0171 438 6420 or visit the Revenue’s website at http://www. inlandrevenue.gov.uk to view press releases.

English ICA Tax Faculty

The Tax Faculty has released Budget representations (Ref: TAX 31/98) and its annual representation on miscellaneous tax matters requiring attention (Ref: TAX 32/98).

Topics for the institute’s annual conference, running from 9 to 11 April in Oxford, will include updates on the budget, corporation tax self-assessment and inquiries and investigations.

The English ICA Tax Faculty is the focus for the institute’s work in taxation. More details can be obtained on 0171 920 8646 or by visiting the website at http://www.icaew.co.uk.

Chartered Institute of Taxation

Recent CIOT submissions in the public domain include a submission sent on taxation of income from savings and investments on 25 November, in response to the Inland Revenue Tax Law Rewrite Project Exposure Draft 2.

More information can be obtained from the Technical Department on 0171 235 9381 or from the Institute’s website at http://www.tax.org.uk.

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