TaxPersonal TaxTaxation checklist – Reports and rewrites

Taxation checklist - Reports and rewrites

Inland Revenue tax law rewrites; C&E's end of year report; ICA's Q&A Guidance notes.

Inland Revenue

The features of the scheme for paying working families tax credit and disabled person’s tax credit to employees via the wage packet have been announced by the government. The scheme is to be introduced from April 2000. Employers are being consulted to try to minimise any administrative burdens of the scheme. (Release dated 27 October.)

The latest tranche of rewritten tax legislation has been made available for consultation as part of the tax law rewrite project. The latest draft covers the topic of capital allowances. (Release dated, 29 October.)

For more information, call 0171 438 6420 or visit the Revenue website

Customs & Excise

C&E has now issued its end-of-year report for 1997/1998. The report includes statistics on net receipts and operational targets. (Release dated, 29 October.)

English ICA Tax Faculty

The Tax Faculty has issued the latest in its series of ‘Question and Answer Guidance Notes’ for tax practitioners. This covers the issue of enquiries under self assessment and provides practical planning advice. More details on the ‘guidance notes can be obtained by calling 0171 920 8646 or by visiting the English ICA website

In the other courts

The Court of Appeal has handed down a decision in the case of McNiven v Westmoreland. It involves what the High Court viewed as a blatant circular series of transactions caught under the Ramsay principle. The Court of Appeal, however, viewed it as acceptable tax mitigation. The case is likely to go to the Lords. (Case reported in The Times, 26 October.)

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