Agent Update February 2008 Issue four - Consultations
Compliance checks
New
approach to compliance checks – closes 6 March 2008
View the proposals for a new framework for HMRC to check taxpayers are
paying and claiming the right amount of tax and repayments.
Corporation Tax
Corporation Tax Bill – public consultation
– closes 9 May 2008
The Tax Law Rewrite will publish the Draft Corporation Tax Bill on 22
February for public consultation.
Income shifting
Consultation
on income shifting – closes 28 February 2008
Your last chance to contribute to the consultation on draft legislation
to prevent a tax advantage being gained through income shifting. Details
are available on the HM Treasury website.
Inheritance Tax
Feedback opportunity on draft IHT regulations
– closes 22 February 2008
A notice to all agents that the opportunity to comment on draft regulations
for excepted transfers and excepted settlements for IHT following FA 2006
changes closes 22 February.
Payroll
Consultation
on benefits in kind and expense payments in the payroll – closes
14 March 2008
You have until 14 March to contribute to a consultation on simplifying
the collection of income tax on employers provided Benefits and Expenses.
Payments, repayments and debt
Consultation
document published – closes 6 March 2008
View the proposals for four changes to make it easier for taxpayers to
pay what they owe and for HMRC to collect tax debts.
Penalties reform
Penalties
reform: the next stage – consultation document closes 6 March 2008
View the proposals for extending the new framework for charging penalties
for incorrect returns to all taxes, duties and levies administered by
HMRC, as well as the proposal for a new single penalty for failure to
register for VAT or notify HMRC of a new taxable activity.
Residence and Domicile
Consultation on proposed amendments
– closes 28 February 2008
View the draft legislation on the residence and domicile changes announced
in the 2007 Pre-Budget report and comment by 28 February.
Tonnage Tax
Final chance to contribute –
Tonnage Tax consultation closes 29 February 2008 (PDF 111K)
Your chance to comment on the proposed legislation and associated guidance
for the method of calculating Corporation Tax profits for shipping companies.
