London: +44 (0)20 7236 2601
St Albans: +44 (0)1727 869141
Rickmansworth: +44 (0) 1923 771010
Milton Keynes: +44 (0)1908 605552

Expected demands for tax on historical planning

It is anticipated that the first demands for tax payments in respect of past planning schemes could be sent out next month, with the first payments due in November.

The Treasury has acknowledged that the new measures are likely to result in a flood of litigation and will require extra resourcing for tax tribunals.

The Judicial Appointments Commission is inviting applications for up to 39 full-time and part-time posts in the First Tier and Upper Tax tribunals to deal with extra appeals.

HMRC is expected to publish a list of the schemes affected by the changes before the Finance Bill becomes law.  It estimates that around 33,000 accelerated payment notices will be issued.  It appears that it should be possible to enter into time to pay arrangements with HMRC.

 

 

 

 

 

 

 

 

 

Date: 30th July, 2014
Author: Cathy Corns

SHARE THIS

Articles from this Author

Contact Business Service Partners

Choose from the drop down menu below to select a Partner to contact.

Tweet

Mercer & Hole’s @GudgionJa progress in @CelebJustDance - Not much longer to Waite now….. bit.ly/2gqZOZq @MKDonsSET

Mercer & Hole’s Michael Lapham impresses at the @MoneyMgmtMag Financial Planner Awards bit.ly/2yw3Ieetwitter.com/i/web/status/9…

Follow

LinkedIn

For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole

Click here to follow us on LinkedIn