Agent Update 14

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Rebecca Benneyworth Training Consultants
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HMRC’s bi-monthly update for tax agents has just been published again. Issue 14 includes, as usual a wide range of articles of interest to tax agents under the headings of Tax, HMRC Service and Consultations. The publication can be viewed online, or downloaded in PDF format.

This month they key articles of interest include :

  • VAT – the return of 17.5 per cent – a guide for VAT registered businesses. This is a very extensive 45 page guide to all aspects of the change in the standard rate scheduled for 1 January 2010. Although there is likely to be a strong lobby to delay the change this content is a “must read” for any adviser dealing direct with VAT registered clients.
  • VAT increase – anti forestalling legislation. This separate guidance on t...

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26th Oct 2009 09:54

Interesting re. final point, but where is the statutory authorit

Form SA1 says unequivocally that

"There are a number of reasons why you may have to complete a tax return for the first time.  For example, if you
... become a company Director
... start to get income from land or property in the UK
... have taxable foreign income of more than £300
... sell shares, property or other assets liable to CGT
... have annual income of £100K or more
... get untaxed income which cannot be collected through your PAYE code"

The remainder of the form then has boxes for ticking which of the above applies.

S.7 TMA 1970 makes no reference to any of the above requirements.  While individuals falling into those categories may statistically be more likely than others to fall within the requirements of s.7, and indeed on a particular case these circumstances may indeed give rise to a notification requirement for which form SA1 may be helpful, the fact remains that it is entirely possible for someone who falls simultaneously into several of those categories nevertheless to have no net liability either to IT or CGT and thereby fall without the notification requirements of s.7.

I think that it is objectionable that the wording is such as to indicate that filing this form is obligatory if a positive entry is indicated.

With kind regards

Clint Westwood

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26th Oct 2009 11:26

I wonder

if the logic works the other way around.

That is, that one is only completing form SA1 (which one has had to seek out) after deciding that a tax return will be needed. In other words having already considered the requirements of s7 and come to the conclusion that a return should be made.

So thus in a way all of that guff is otiose?

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