TDSI Bulletin 23 - 21 January 2008

This bulletin tells you about:


Please ensure the appropriate people in your organisation read this mailshot.

Enquiries about this bulletin should be addressed to the person named in the email that sent it to you.

Form R85 – 2008 version

We would like to take a more proactive approach to delivering the 2008 version of form R85 and Helpsheet to you. When the 2007 version, and earlier versions, were finalised, we sent you a bulletin telling you how to order and you rang the St Austell Orderline and placed orders.

We hope to have the 2008 version finalised and printed in April 2008. Before this time we intend to analyse the usage figures for each bank and building society – we may contact you to confirm figures and delivery contact details. Once the form and Helpsheet are available we intend to:

  • deliver 25 per cent of your previous years total usage in April 2008
  • deliver 25 per cent of your previous years total usage in July 2008
  • deliver 25 per cent of your previous years total usage in October 2008
  • deliver 25 per cent of your previous years total usage in January 2009

You will be able to order additional supplies if needed.

We would like this new service to be as efficient and cost effective as possible, and would appreciate you telling us if you over ordered last year. We will also ask you in August 2008 whether you think the numbers being delivered are correct.

Once the 2008 version has been delivered we would like all earlier versions to be destroyed (as the figures of personal allowances will have changed). But we appreciate it can be difficult to get this message to all branches. To help with this, each batch of forms R85 delivered in April 2008 will contain a dispatch note telling the recipient to destroy earlier stock and only to use the up to date stock being delivered.

We hope this new system will be welcomed by you but if you believe it will not be suitable for your organisation please reply to the email that this bulletin was attached to. We would appreciate your comments on our proposals, and we would also appreciate your suggestions for improving this service.

HMRC website

We have re-written the TDSI webpage.

Appendix 1 - S17 TMA 1970 and SI 03/3297 Returns of interest paid and received (copy of letter issued 19 July 2007)

Charity Assets and Residence -Audit
St John's House
Merton Road
Liverpool
L75 1BB

Tel 0151 472 6129/6136
Monday to Thursday 8.30 to 17.00
Friday 8.30 to 16.30

Fax 0151 472 6124
www.hmrc.gov.uk
Date 19 July 2007

Our ref DX 725580
Your ref

S17 TMA 1970 & SI 03/3297 Returns of Interest Paid & Received

I wrote to you in April of this year to remind you of your obligations to make a report under S17 TMA 1970 and SI 03/3297. In that letter I advised you of certain changes to the Magnetic Media reporting specifications that would come into force from April 2008. The proposed changes are designed to improve data quality and assist HMRC data processing.

Following discussions with many institutions and representative organisations HMRC has now agreed to delay the introduction of these requirements until April 2009 to give institutions sufficient time to implement the changes.

If you are able to implement these changes before April 2009 that would be greatly appreciated.
The changes being made to the reporting specifications are:-

Type 3 Records – It will be compulsory to provide a type 3 record for the first two named participants to the account even if they are named on the Type 2 record and live at the address shown on that record. We will also require a Type 3 record for non-individual accounts. For non-individual accounts please enter the name of the company or entity in the ‘reportable participant name’ field and pad with spaces the title, forename and surname fields. For most non-individual accounts i.e companies, you will only need 1 type 3 record.

Numeric Fields – All fields that require only numeric entries must be filled with an appropriate numeric entry or padded with zeros. It will no longer be acceptable to fill these fields with spaces.

Sterling Return Indicator field – The entry in this field must be Y or N. Space filling will cease to be acceptable.

Post 5/4/01 R105 indicator field – The entry in this field must be Y or N. Space filling will cease to be acceptable.

If you have any questions about the contents of this letter please contact the Returns Unit on 0151 472 6129 or 6136
Chris Sexton - Charity, Assets & Residence Returns Unit