Technical News

 


This session focused on MTD for VAT, looking at recent developments and getting ready for mandation, including:

Revenue Scotland has provided the following update regarding the Revenue Scotland Statistics User Day held on 30 Januanry.

HMRC have asked us to draw attention to their following notice about forthcoming Talking Points meetings.

Revenue Scotland are carrying out user research in relation to their online system for LBTT returns.

Revenue Scotland has recently published its British Sign Language Plan 2018-24.

When enrolling yourself or clients into MTD for VAT it is vital that you get the timing right. Once signed up, HMRC will expect all future VAT returns to be filed through MTD software – including those for current / previous periods which have not yet been submitted. Further, there are additional restrictions on the sign up periods, particularly for businesses who pay by Direct Debit. 

HMRC have asked us to draw attention to their following notice about forthcoming Talking Points meetings.

The CIOT comments on APPG on Taxation: Consultation on Tax and the Implications of Brexit.

As we have previously reported, new rules for foreign domiciliaries and non-UK resident trusts were introduced from April 2017, by Finance (No 2) Act 2017 and Finance Act 2018. The rules contain anti-avoidance provisions but also protections to help settlors of offshore trusts affected by the changes. However, there is a technical defect in the legislation, relating to offshore income gains, which could cause serious problems. 

Revenue Scotland has updated its guidance to reflect the changes resulting from the Land and Buildings Transaction Tax (Tax rates and Bands etc) (Scotland) Amendment Order 2018 which was approved by the Scottish Parliament on 23 January 2019.