Tax Plus Blog - Corporation tax
EC formal request for the UK to amend its anti-avoidance legislation
Date: 6th February, 2012 | Author: Cathy Corns | Comments: 0
On 6 December it was announced that the UK is planning to change two key anti-avoidance provisions: the rules governing transfers of assets abroad and the attribution of gains made by non-resident companies. Apparently proposals will be published for consultation around the time of Budget 2012 with a view to enactment in the 2013 Finance Bill. The reason for this is that, in February 2011, the EC announced that the existing UK legislation infringed the EU Treaty. The issue is that the law discriminates by taxing the shareholders of a non-UK resident company on the income and gains made by that company...
Returns of benefits and expenses - Forms P11D
Date: 8th June, 2011 | Author: Cathy Corns | Comments: 0
HMRC has announced that the 2010/11 forms P11D, that are due for submission by 5 July, cannot be posted/delivered to your local office. Instead all paper forms have to be sent to a dedicated post room at: HMRC NIC&EO P11D Support Team Tynemouth House Room BP8019 Benton Park View Longbenton Newcastle Upon Tyne NE98 1ZZ You will need to make sure forms are completed and posted to arrive in Newcastle by the submission deadline. Penalties are likely to be charged on late returns. Cathy Corns is a tax adviser and a partner at Mercer & Hole. The...
Company cars - fuel rates
Date: 6th June, 2011 | Author: Cathy Corns | Comments: 1
HMRC has announced new fuel rates for company cars from 1 June 2011. For one month from the date of change, employers may use either the previous or new current rates, as they choose. The new rates are: Engine Size Petrol LPG 1400cc or less ...
Taxman closes another tax avoidance scheme
Date: 13th January, 2009 | Author: Barry Hallam | Comments: 0
HMRC Revenue & Customs announced yesterday that they are taking steps to close a “highly contrived” tax avoidance scheme. The arrangements involve complex structures including both companies and trusts (possibly offshore). Some details can be found on the HMRC website and a ministerial statement will be made in Parliament today. Maybe this will help plug the shortfall in tax receipts discussed in The Times on Saturday. The article indicates that HMRC are stepping up there investigations into Self Assessment Tax returns. The returns for the year to 5 April 2009, if not already filed, are due...
Government retreat on key tax reforms
Date: 31st October, 2007 | Author: Barry Hallam | Comments: 0
Below is a blog written my colleague and Mercer & Hole partner Cathy Corns on SME Plus blog, in relation to the government's retreat on key tax reforms. According to The Times the Government are looking to mitigate the changes proposed in the Pre Budget Statement three weeks ago. Apparently the plan is to introduce a form of retirement relief of £100,000, aimed to assist small businessmen who are selling up and retiring. As of the time this was posted the HMRC website had no details on this and so we do not know if it is accurate...
