The Tax Credits (Miscellaneous Amendments) Regulations 2012
(PDF 50K) HM Revenue & Customs
has published a draft of the Tax Credits (Miscellaneous Amendments)
Regulations,
supported
by a draft Explanatory Memorandum (PDF 25K). These draft regulations amend several
tax credits Statutory Instruments to implement the amendments
to the
tax credits scheme from 6 April 2012, announced in the emergency Budget
2010, the Spending Review 2010 and the Autumn Statement 2011. The draft
regulations also contain a number of technical amendments.
Controlled Foreign Companies Reform Consultation draft 31 January 2012 (PDF 710K)
HMRC issued updated draft legislation on Controlled Foreign Companies (CFCs) on 31 January 2012, together with an update document including a guide to the changes in the latest draft.
Controlled Foreign Companies Update document 31 January 2012 (PDF 257K)
Controlled Foreign Companies consultation draft comparison between Dec 2011 and Jan 2012 (PDF 494K)
Seed enterprise investment scheme: re-investment relief (Consultation Version) (PDF 221K)
HMRC has published draft amendments and an Explanatory Note on Seed enterprise investment scheme: re-investment relief.
Draft Explanatory Note SEIS Reinvestment Relief (PDF 20K)
Administration of VAT (Consultation version) (PDF 119K)
The Value Added Tax (Amendment) (No. X) Regulations 2012 (PDF 38K)
HM Revenue and Customs has published draft amendments to the VAT Act 1994 and to VAT Regulations to enable businesses to make specific communications with HMRC via an electronic communications system, and to make specified provision in relation to a number of forms that are being removed. The accompanying Explanatory Note and Explanatory Memorandum have also been published:
Explanatory Note : Value Added Tax – Administration of VAT (PDF 18K)
The Machine Games Duty Regulations 2012 - draft Statutory Instrument (PDF 85K)
Comments on the draft are welcome and should be sent to Katherine Mansfield by 25 April 2012. Further information on MGD may be found on the Treasury website at Machine Games Duty Implementation (Opens new window).
Social Security (Contributions) (Limits and Thresholds) (Amendment) Regulations 2012 (PDF 24K) and the Social
Security (Contributions) (Re-rating) Order 2012 (PDF 25K)
HM Revenue & Customs has published draft regulations and an order setting out the National Insurance contributions rates, thresholds and
limits for the 2012-13 tax year. The draft regulations and order are subject to approval by both Houses of Parliament. As well as the draft
regulations an Explanatory Memorandum for each has been published with a Tax Information and Impact Note
(PDF 39K).
Explanatory Memorandum to The Social Security (Contributions) (re-rating) Order 2012 (PDF 25K)
Change to tax code operated for share-based payments (PDF 46K) HM Revenue & Customs has published draft amendments to regulations relating to PAYE (Pay As You Earn) supported by a technical note relating to a tax code change for share-based payments made after cessation of employment which have not been included on Form P45. Please send comments to Pa Harris by 16 February 2012. Questions and Answers (PDF 43K) have been produced to assist respondents.
Legislative changes to the tax rules for investment trusts Changes to legislation that modernise the tax rules for investment trusts - read the regulations and amendments to S1158 and S1159 Corporation Tax Act 2010 that come into force on 1 January 2012.
Income Tax relief for Shared Lives Carers (PDF 53K) Draft amendments to the Statutory Instrument defining specified social care schemes in England, Wales, Scotland and Northern Ireland have been published for comment and consideration.
The Finance Act 2010, Schedule 6, Part 2 (Commencement) Order 2012 (PDF 72K) Draft legislation is now published and external comments are invited. Comments should be sent to Charity Policy Tax Team by 20 January 2012.
The Finance Act 2010, Schedule 6, Part 1 (Further Consequential and Incidental Provision etc) Order 2012 (PDF 47K) Draft legislation is now published and external comments are invited. Comments should be sent to Charity Policy Tax Team by 20 January 2012.
The Hydrocarbon Oil and Biofuels (Road Fuel in Defined Areas) (Reliefs) Regulations 2011 HM Revenue & Customs has published draft legislation to introduce a Fuel Duty Relief Scheme for the Inner and Outer Hebrides, the Northern Isles, the Islands of the Clyde and the Isles of Scilly. An accompanying Tax Information and Impact Note has also been published.
Improving the operation of PAYE: Collecting Real Time Information In readiness for the introduction of Real Time Information (RTI), HM Revenue & Customs has published a technical note for draft amendments to regulations relating to Pay As You Earn (PAYE), National Insurance contributions and Construction Industry Scheme and welcomes comments by 9 January 2012.
Draft revised Postal Packets (Revenue and Customs) Regulations 2011 (PDF 42K) HM Revenue & Customs has published revised draft regulations that will replace the Postal Packets (Customs and Excise) Regulations 1986 and the Postal Packets (Revenue and Customs) Regulations 2007 with a single, simpler and shorter set of regulations. Comments should be sent to Anne Treadaway by 12 December 2012.
The Investment Trust (Approved Company) (Tax) Regulations 2011 The final draft of the regulations have been published.
Draft legislation for changes to the procedure for submitting Intrastat declarations (PDF 26K) HMRC have published draft legislation for external comment which brings forward the deadline for submitting Intrastat declarations to the 21st day of the month following the period to which the trade relates and makes the electronic submission of Intrastat declarations mandatory. Comments should be sent to HMRC no later than 23 December 2011.
New late filing penalties for CIS returns from 6 Oct 2011 (PDF 19K) HM Revenue & Customs has published for external comment an order that will bring the new late filing penalty regime into effect for Construction Industry Scheme returns.
Tax Treaties Anti-avoidance - consultation withdrawn.
Customs Civil Penalties Draft Legislation (PDF 92K) These draft regulations are now published and comments are invited by 31 August 2011.
Inheritance Tax Excepted Estates Regulations - draft amendment HM Revenue & Customs have published a draft amendment to the Inheritance Tax Excepted Estates Regulations. They are inviting comments by 28 August 2011.
Draft of The Data-Gathering Powers Regulatons 2011 and explanatory commentary (PDF 75K) These draft Regulations and explanatory commentary are now published for comment. Please send any comments to Powers Review by 30 September 2011
Draft of The Excise Goods (Holding, Movement and Duty Point) (Amendment) Regulations 2011 (PDF 40K) These draft Regulations are now published for comment. Comments should be sent to Chris Mountford no later than 4 August 2011.
Draft Appointed Day Order making minor technical changes to new late filing and late payment penalty regimes (PDF 36K) Supplementary to the orders already published, HM Revenue & Customs (HMRC) has published a draft order for external comment which will bring into effect certain minor technical changes to the late filing and late payment penalty regimes for ITSA and Pension Scheme Returns in April 2011. Please address any comments to David Lewis.
Draft Appointed Day Order for new late filing penalties for Pension Scheme Returns (PDF 22K) HM Revenue & Customs (HMRC) has published a draft order for external comment bringing into effect the new late filing penalties for Pension Schemes from 1 April 2011. Please address any comments to David Lewis.
Draft Appointed Day Order for ITSA interest (PDF 47K) HMRC has published today a draft order for external comment bringing into effect the new harmonised interest rules for ITSA from 6 April 2011. Please address any comments to Don Morley.
Draft Appointed Day Order for ITSA late filing and late payment penalties (PDF 44K) HMRC has published a draft order for external comment bringing into effect the new late filing and late payment penalties for ITSA from 6 April 2011. Please address any comments to David Lewis.
Draft Excise Commencement Order for changes made to excise legislation by the Finance (No. 3) Act 2010 (PDF 41K) The Finance (No. 3) Act 2010 updates excise legislation on time limits, record-keeping and information and inspection powers. The intention is to commence these changes on 1 April 2011. The draft commencement order has been published for comment by 23 February. Comments should be sent to powers.review-of-hmrc@hmrc.gsi.gov.uk
Income Tax Relief for Shared Lives Carers (PDF 41K) The draft statutory instrument defining specified social care schemes in England, Wales, Scotland and Northern Ireland is now available for comment and consideration.
Clarifications to the law in relation to late payment penalties for PAYE (PDF 19K) HM Revenue & Customs have published a draft order for external comment bringing into effect clarifications of the late payment penalty legislation for PAYE contained in Finance (No 2) Bill 2010.
Pensions - Annual and Lifetime Allowances Changes to the annual allowance for tax relief on pensions.
VAT: secondary legislation to implement the VAT Technical Directive, the VAT rate increase and other miscellaneous changes The government has published draft legislation which amends the Partial Exemption and Capital Goods Scheme regulations.
Excepted estates regulations (PDF 35K) Consultation document on changes to the excepted estate regulations.
Regional Employer NICs Holiday for New Businesses (PDF 139K) HM Revenue & Customs has now published a Technical Note, including draft clauses and draft Explanatory Notes, setting out how this scheme will operate. Guidance for new businesses, including an application form, will be published before the scheme starts on 6 September 2010.
Finance Bill 2010 The Finance Bills published in 2010.
Corporation Tax draft legislation Corporation Tax draft legislation and related explanatory notes, backgrounds notes, technical bulletins and Ministerial Statements.
Applying late payment penalties to certain National Insurance contributions (PDF 24K) HMRC has today published for external comment a draft order applying late payment penalties to certain National Insurance contributions.
Appointed Day and Consequential Provisions (PDF 22K) Appoints 6 April 2010 as the day on which the penalty regime for failure to make payments of certain amounts of tax set out in Schedule 56 of the Finance Act 2009.
