Investment Manager Exemption
HM Revenue & Customs has issued clarification on The Offshore Funds (Tax) Regulations 2009 for offshore funds potentially liable to tax in
respect of a UK trade carried on through a permanent establishment or agent.
Offshore Funds - Applications for Distributing Fund Status
This message sets out HMRC's position in relation to applications for Distributing Fund Status which are late and/or involve late distributions.
Corporation Tax - Detailed HMRC directions under the new regulations (PDF 32K)
These directions apply to filing Company Tax Returns and paying Corporation Tax, late payment interest and late filing penalties. They came into force
on 11 January and set new rules for returns and payments from 1 April 2011.
Draft legislation: Postponed charge on transfer of assets to a non-resident company
The Financial Secretary to the Treasury's announcement of proposed legislation in Finance Bill 2010, effective from 6 January 2010, to the Capital Gains
Tax rules for companies.
Statutory
Instrument SI 3217 (PDF 43K) (Opens new window)
The Corporation Tax (Tax Treatment of Financing Costs and Income) (Acceptable Financial Statements) Regulations 2009. These Regulations are ancillary
to the 'worldwide debt cap' rules.
Explantory
Memorandum to SI 3217 (PDF 92K) (Opens new window)
Explanatory Memorandum to The Corporation Tax (Tax Treatment of Financing Costs and Income) (Acceptable Financial Statements) Regulations 2009.
Statutory
Instrument: SI 3173 (PDF 197K) (Opens new window)
The Corporation Tax (Financing Costs and Income) Regulations 2009. These Regulations are ancillary to the 'worldwide debt cap' rules.
Statutory
Instrument: SI 3173 (EM) (PDF 88K) (Opens new window)
Explanatory Memorandum to The Corporation Tax (Financing Costs and Income) Regulations 2009.
Research & Development Consultative Committee meeting - 4 September 2009
Minutes of this meeting, an open letter to committee members from the Economic Secretary to the Treasury and new R&D guidance on production and distribution
of goods and services are now available.
Statutory
Instrument: SI 3218 (PDF 66K) (Opens new window)
The Income and Corporation Taxes (Electronic Communications) (Amendment) Regulations 2009.
Statutory Instrument: SI 3218 (EM) (PDF 217K) (Opens new window)
Explanatory Memorandum to The Income and Corporation Taxes (Electronic Communications) (Amendment) Regulations 2009.
Statutory
Instrument: SI 3227 (Opens new window)
The Northern Rock plc (Tax Consequences) Regulations 2009.
Statutory Instrument: SI 3227 (EM) (PDF 104K) (Opens new window)
Explanatory Memorandum to the Northern Rock plc (Tax Consequences) Regulations 2009.
Statutory
Instrument 2009 No. 3139 (PDF 93K) (Opens new window)
Regulations (SI 2009 No. 3139) were made on 1 December 2009 amending The Offshore Funds (Tax) Regulations 2009 (SI 2009/3001).
Explanatory
Memorandum to Statutory Instrument 2009 No. 3139 (PDF 104K) (Opens new window)
Explanatory Memorandum to The Offshore Funds (Tax) (Amendment) Regulations 2009.
Offshore Funds - Reporting Fund Status
Offshore funds contemplating applications for Reporting Fund status for accounting periods commencing on or after 1 December 2009 may wish to view
and feed back on the draft application template available on the HMRC Collective Investment Schemes Centre website.
Corporation Tax Online - new support material for customers now available
Read new HM Revenue & Customs guidance for Corporation Tax customers who want to register and enrol for Corporation Tax Online and file their
Company Tax Returns online.
Real Estate Investment Trust (Prescribed Arrangements) Regulations (Opens new window)
The draft Real Estate Investment trusts (Prescribed Arrangements Regulations.
Tax Law Rewrite
Tax Law Rewrite's final Bills 6 and 7 were introduced into Parliament on 19 November. Versions of the Bills without origins are available on the
Parliamentary website and versions with origins are available on the HMRC website.
Corporation Tax Online - prepare your software
An important message for customers who plan to file their Company Tax Returns online.
Corporation Technical Pack for third party software developers
The pack now includes specifications for developing iXBRL capability into your software. This information is only useful to firms developing their
own software, everyone else should contact their software provider if they have questions about future iXBRL support.
Corporation Tax: loan relationships: draft legislation on proposed changes to the tax rules on buy-backs of company debt
Following the statement made on 14 October 2009, a further statement has been made today by the Financial Secretary to the Treasury has been published
on the proposed changes to the loan relationships rules on debt buy-backs, and draft clauses have now been published in support of both statements.
Update - changes to debt cap proposed for Finance Bill 2010
The Financial Secretary to the Treasury has announced that legislation will be included in Finance Bill 2010 to make changes to the worldwide debt cap.
A technical paper explains in more detail what is proposed.
Debt Cap Regulations (Opens new window)
The Corporation Tax (Exclusion from Short-Term Loan Relationships) Regulations are now available on the OPSI website.
Statutory
Instrument SI 2889 (PDF 47K) (Opens new window)
The Lloyd's Underwriters (Tax) (Amendment) Regulations 2009.
Explanatory
Memorandum to SI 2889 (PDF 98K) (Opens new window)
Explanatory Memorandum to The Lloyd's Underwriters (Tax) (Amendment) Regulations 2009.
Consultation
on associated company rules (Opens new window)
A joint HMT/HMRC consultation document was published on 29 October 2009 seeking views on a proposal for reforming the associated company rules as
they apply to the small companies' rate of Corporation Tax.
Re-organisation of Corporation Tax work
An updated message for Corporation Tax customers in North West and East Lancashire.
Corporation Tax Online: help for companies and agents (PDF 102K)
Advice from HM Revenue & Customs on XBRL data tagging for companies and agents who don't plan to use iXBRL enabled final accounts production
software.
Draft legislation: Corporation Tax rules on debt buy backs
Corporation Tax: loan relationships: further details on the proposed changes to the tax rules on buy-backs of company debt announced in a statement by
the Financial Secretary to the Treasury on 14 October 2009.
Statutory
Instrument SI 2797 (Opens new window)
The Corporation Tax (Implementation of the Mergers Directive) Regulations 2009
Explanatory
Memorandum to Statutory Instrument SI 2797 (Opens new window)
Explanatory Memorandum to The Corporation Tax (Implementation of the Mergers Directive) Regulations 2009.
New CFM goes live
The new Corporate Finance Manual is now available and the Banking Manual has been withdrawn.
Corporation Tax on Chargeable Gains: Indexation Allowance: September 2009
Corporation Tax on Chargeable Gains: Indexation Allowance: September 2009.
Re-organisation of Corporation Tax work
An important message for Corporation Tax customers in 1.Glos & Beds 2.Cambs & S Essex 3.NW Lancs 4. E Lancs.
Northern Ireland Corporate Tax Office (NIrCTO) web pages go live
NIrCTO is working with local government and business to help promote corporate inward investment and business expansion. They have also published a practical
guide to the Research & Development (R&D) Relief Scheme in Northern Ireland.
Corporation Tax pages updated providing clear and practical guidance
We're continuing to make improvements to our website, making the information and guidance easier to find and understand.
Re-organisation of Corporation Tax work
An important message for Corporation Tax customers in East Herts and West Essex.
Re-organisation of Corporation Tax work
An important message for Corporation Tax customers in Bristol, Devon, Oxon and Bucks, Cornwall, Somerset, West Lancs and Worcester.
Joint filing of HMRC and Companies House returns - latest position
HMRC and Companies House have today issued a statement about progress towards developing an optional joint filing facility.
The Corporation Tax Marginal Rate Relief (MRR) calculator
The MRR calculator has been updated - most companies and organisations can use this tool to calculate any relief that's due.
Corporation Tax: loan relationships: guidance on legislation on late payments of interest between
connected companies (PDF 25K)
Guidance has been published on legislation in Finance Act 2009 on late payments of interest between connected companies.
New Corporate Finance Manual and withdrawal of Banking Manual
The Financial Products team are currently revising the Corporate Finance Manual, which provides guidance on the Corporation Tax rules on loan relationships,
derivative contracts, foreign exchange, and other aspects of corporate finance.
Corporation
Tax alert for agents and businesses (Opens new window)
HM Revenue & Customs (HMRC) is writing to half a million companies and tax agents this month, to alert them to important changes to Corporation
Tax (CT) filing.
Corporation Tax on Chargeable Gains
Corporation Tax on Chargeable Gains: Indexation Allowance: July 2009
Re-organisation of Corporation Tax work
An important message for Corporation Tax customers in Warwickshire.
Re-organisation of Corporation Tax work
An important message for Corporation Tax customers in Dorset.
Corporation Tax: Loan relationships and derivative contracts
Draft guidance has been published for comment on the foreign exchange anti-avoidance provisions contained in Schedule 21 of Finance Act 2009.
CT600I (2009) (PDF 36K)
The new CT600 supplementary page covering the supplementary charge in respect of ring fence trades is published today.
Simplification
review: Capital gains rules for groups of companies - a discussion document (Opens new window)
The Government would like to hear the views of business, as well as those of representative bodies and tax advisers, on the policy options outlined
in the discussion document for simplification of the capital gains rules for groups of companies.
Re-organisation of Corporation Tax work - Wales
An important message for Corporation Tax customers in Wales.
Re-organisation of Corporation Tax work - Merseyside
An important message for Corporation Tax customers in Merseyside.
CT600 Guide (2009) Version 2 (PDF 193K)
The latest guide to completing your Company Tax Return form is published today.
Re-organisation of Corporation Tax work - Northern Ireland
An important message for Corporation Tax customers in Northern Ireland.
Re-organisation of Corporation Tax work - Cheshire
An important message for Corporation Tax customers in Cheshire.
Re-organisation of Corporation Tax work - Yorkshire
An important message for Corporation Tax customers in Yorkshire.
CT 600 Budget insert (PDF 35K)
An overview of some of the main Budget changes affecting Corporation Tax and the Company Tax Return form.
Re-organisation of Corporation Tax work - Ayr, Cumbria, Northumbria and Tyne & Wear
An important message for Corporation Tax customers in Ayr, Cumbria, Northumbria and Wear & Tyne.
Corporation Tax forms
An overview of Budget 2009 changes for software developers.
