TaxPersonal TaxChecklist – Budget responses

Checklist - Budget responses

VAT rating of ISAs; CIoT forthcoming conferences.

Budget responses

The Inland Revenue and the Treasury are seeking responses to various Budget consultation documents. Individuals can make their representations directly or, alternatively, via the English ICA Tax Faculty. Subjects and their deadlines include: company cars (deadline: 31 May); reform of intellectual property (31 July); the new employee share scheme (30 April); enterprise management incentives (30 April); corporate venturing (11 June); the charity review (31 August); climate change levy (ongoing); and research and development (31 July).

Consultation documents can be accessed via the Inland Revenue website

Customs & Excise Customs has set out the VAT liabilities likely to apply to individual savings accounts. Most services connected with ISAs will be exempt of VAT, but a few – such as tax management, marketing and advertising – will be standard rated. (Business briefing 7/99).

Customs has issued a discussion paper seeking comments on the proposals to rationalise and simplify the VAT export regime. (Business briefing 6/99).

The Chartered Institute of Taxation CIoT’s next conference will take place on 29 April at the Institute of Directors in London. The subject will be the changing world of indirect taxation. Fee to be confirmed. On 23 June, CIoT will hold a conference on this year’s Finance Bill.

For more details, call 0171 235 9381 or visit the CIoT website

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