Submissions archive - 2017

The CIOT has responded to HMRC’s consultation on the scope of VAT grouping.  

We have sent our comments to HMRC on the draft Finance Bill clauses published on 31 January.

We have sent our comments to HMRC on the draft Finance Bill clauses published on 31 January.

We have sent our comments to HMRC on the draft Finance Bill clauses published on 31 January.

This consultation is considering the introduction of a new legal requirement that intermediaries creating or promoting certain complex offshore financial arrangements notify HM Revenue and Customs (HMRC) of their creation and provide a list of clients using them. Clients in their turn would be expected to notify HMRC of their involvement via a notification number on their self-assessment tax return or personal tax account. Those who fail to comply with these requirements would incur civil sanctions.

The CIOT comments sent to HMRC on The Social Security (Miscellaneous Amendments) Regulations 2017.

New IR35 rules take effect from 6 April 2017 under which where the engagement is with a public sector body the responsibility for deciding whether or not IR35 applies moves to the public sector body. If an engagement falls with the new IR35 rules then the person paying the PSC (ie the public sector body or third party agency) is responsible for deducting tax and NICs under PAYE. A new online tool from HMRC (the ‘employment status service’) will be made available to assist in deciding whether or not IR35 applies to an engagement.

The CIOT sent to HMRC on Draft FB17 Clauses 32, 34 & 35: Disguised remuneration.

The CIOT has called for a timetable setting out when and how the proposed 50% reduction in the Air Departure Tax (ADT) burden will be phased in and provision to monitor the outcomes of the Scottish Government’s ADT policy.

From 6 April 2017, 100% of foreign pension income is to be subject to UK income tax, the period of an individual’s non-UK residence during which UK tax charges can apply to payments out of pension savings in overseas pension schemes that have had UK tax relief is extended from 5 to 10 years, the UK tax treatment of non-UK registered pension schemes will be aligned with UK registered schemes and lump sums paid under foreign pension schemes to or in respect of UK residents will be brought into charge for UK tax purposes.