Taxation Analysis - IR is fishermen's friend.

Inland Revenue[QQ] The rate of Class 2 National Insurance contributions for share fishermen will be reduced from #7.20 per week to #2.65 per week with effect from 6 April. (Press release, 10 March.) The Revenue has added frequently asked questions on working families tax credits to its website, as well as a section on legislation to its frequently asked questions on IR35. The Revenue’s home page is www.inlandrevenue.gov.uk Customs & Excise Customs is teaming up with DVLA to warn tobacco and alcohol smugglers of the consequences of using their vehicles for smuggling. (News release, 14 March.) Customs’ home page is www.hmce.gov.uk The Tax Faculty’s Wyman event on 10 May 2000 will be a symposium on reform of the tax system. This follows up its paper ‘Towards a better tax system’ (TAXGUIDE 4/99) issued last October. The Tax Faculty of the English ICA is open to all chartered accountants. Those interested in joining can call 020 7920 8646 for the latest prospectus. Chartered Institute of Taxation Submission sent on filing self-assessment returns by internet on 10 March. Submission sent on stakeholder pensions: draft clauses in response to Revenue press release of 22 February on 13 March. Submission sent on statutory definition and guidelines on the meaning of R&D in response to Revenue consultation of 6 March on 13 March. The CIoT is the leading professional body in the United Kingdom concerned solely with taxation. For further information call the Technical Department on 0171 235 9381 or visit the Institute’s website at: www.tax.org.uk.