A recent Inland Revenue press release confirms that original plans for capital allowances for businesses in Northern Ireland have been severely restricted.
The 100% first-year allowances are now unavailable for goods vehicles used in freight haulage businesses or machinery and plant for use in the agricultural and fisheries sectors, unless authorised by the Department of Agriculture in Northern Ireland. (Press release, 28 July.)
Regulations have been laid extending the Millennium Gift Aid scheme to include donations for Kosovo refugees. The scheme ends on 31 December 2000. (Press release, 28 July.)
A substantially revised edition of the Revenue’s booklet IR137: The Enterprise Investment Scheme is now available free of charge from Inland Revenue enquiry centres and tax offices. (Press release, 27 July.)
Revenue and Customs press releases can be found at www.nds.coi.gov.uk/coi/coipress.nsf
English ICA Tax Faculty The Faculty has submitted its representations on the latest part of the Tax Law Rewrite Project (TAXREP 21/99).
The Tax Faculty of the English ICA is the focus for the institute’s work in taxation.
For more details, call 0171 920 8646 or visit the website at www.icaew.co.uk
Chartered Institute of Taxation Recent institute submissions include comments on tax provisions in response to Revenue press release of 20 July and comments on the lack of priority tax treatment for older people on low incomes.
More information can be obtained from the technical department on 0171 235 9381 or at CIoT website
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Barclays has partnered with accounting software company Xero to provide businesses with access to transaction data through its direct feed.
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont
Xero unveiled its expanded global partner programme at Xerocon South, the accounting technology conference in Australasia