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HMRC Watch: National Insurance contributions. To pay or not to pay?

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30th Aug 2005
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TaxZone's HMRC Watch highlights the latest news from the HM Revenue and Customs' website. TaxZone News has more detailed coverage of important developments.

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August 2005 [See also Previous months]

The announcements featured below appeared in HMRC's What's New pages except where otherwise indicated.

30 August - Working Together, Issue 22

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26 August - Leaflet CA93 - Short fall in your NICs; National Insurance contributions. To pay or not to pay?

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26 August - Stamp Taxes Online
As part of the move towards e-conveyancing, HMRC has developed a full Stamp Taxes Online service

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26 August - Pensions Tax Simplification newsletter

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25 August - Transfer-pricing and Employee Share Schemes
New guidance has been prepared for accounting periods starting on or after 1 January 2005.

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24 August - Anti Avoidance Group
Includes guidance on 'Disclosure of SDLT Schemes' & ' Forms for SDLT tax schemes.

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MG Rover helpline closed. but see HMRC policy and approach
The 01604 731678 special helpline set up to help and advise businesses affected by the collapse of MG Rover and Powertrain has now closed. Customers calling that line will be given the number for their local HM Revenue & Customs office. The team set up to deal with calls will continue to process the cases on hand and will be available to advise the local Debt Management and Recovery Offices.

Online Services - Notes for Payroll Software Developers Supplementary Edition
A supplementary edition of Notes for Payroll Software Developers - Series 10 Number 25- August 2005 containing the latest draft copy of the redesigned form P46 provides is now available.

23 August
Small Business Advisory Group
Minutes from 9 June 2005 are now available.

HM Revenue and Customs and the Taxpayer: Modernising Powers, Deterrents and Safeguards (PDF 33K)
Minutes of Consultative Committee Meeting of 6 July 2005.

Foster Care Relief
This is a basic introduction to foster care relief prepared by HM Revenue and Customs (HMRC) in August 2005.

Adult Placement Carers - Simplified Arrangements
This is a basic introduction to the simplified income tax arrangements for adult placement carers prepared by HM Revenue and Customs (HMRC) in August 2005.

Civil Partnership Act 2004
A measure was taken in this year's Finance Bill to pave the way for changes to all existing tax legislation, both primary and secondary, so that civil partners formed as a result of the Civil Partnership Act 2004 will be treated the same as married couples for tax purposes.

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22 August - Changes to Climate Change Levy taxation regime
Businesses that use environmentally-friendly forms of electricity generation and secondary recycling may benefit from new, albeit limited, exemptions under the Government's Climate Change Levy Regulations. The Government has just re-named the 2001 Regulations, together with the 2003 amendments, and the legislation is now The Climate Change Levy (Fuel Use and Recycling Processes) Regulations 2005.

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19 August - In response to concerns of the CIOT over the disproportionate costs of estimated claims for protective claims of NIC liabilities from Employee Benefits Trusts (EBT), HMRC has granted a concession for instances where the employer paid the actual amount of NICs and interest due within 14 days of the claim. The full particulars are published on the HMRC's Working Together site.

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16 August - Corporation Tax interest rates were reduced by 0.25% for interest charged on underpaid quarterly Instalment payments and increased by 0.25% on overpaid quarterly instalments and on early payments of Corporation Tax not due by instalments.

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15 August - HMRC published draft additional Pension Simplification Regulations on its Pension Simplification Project pages in the run up to 'A-day' on 6 April 2006, when the whole pension regime is radically overhauled.

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11 August - Performing Companies Visiting the UK (Foreign Entertainers)
The Foreign Entertainers Unit (FEU) have published guidance which explains how Performing Companies Visiting the UK can make a reduced tax payment application for their Non-Resident employees.

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11 August - Quoted Eurobonds: launch of new markets in London and Luxembourg
Securities that are officially listed on the new Professional Securities Market in London and the new Euro MTF in Luxembourg will be regarded as 'listed on a recognised stock exchange".

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11 August - Stamp Taxes Manual
The manual has been amended to include details of the recent announcement concerning stamp duty reconstruction reliefs where shares are acquired by non UK companies, and Finance Act 2005 changes to Intermediary and Stock Lending reliefs.

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10 August - SDLT6 - How to complete your land transaction return
Guidance notes on completing forms SDLT1, SDLT2, SDLT3 and SDLT4. This version is available in paper format.

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9 August - Inheritance Tax
The August edition of the IHT Newsletter is now available.

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9 August - International Accounting Standards
The section of the website covering this has been substantially revised and updated following Finance Act 2005 and Finance (No. 2) Act 2005 and regulations laid in July.

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8 August - Statutory Instrument 2209 2005
The Income Tax (Car Benefits) (Reduction of Value of Appropriate Percentage) (Amendment) Regulations 2005.

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8 August - Statutory Instrument 2209 - Explanatory Memorandum
Explanatory Memorandum to The Income Tax (Car Benefits) (Reduction Of Value Of Appropriate Percentage) (Amendment) Regulations 2005.

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8 August - Statutory Instrument 2200
The Tax Credit (Payment by Employers, etc.) (Amendment) Regulations 2005

Statutory Instrument 2200 - Explanatory Memorandum (PDF 168K)
The Tax Credit (Payment by Employers, etc.) (Amendment) Regulations 2005

Pensions Tax simplification - Draft of the regulations and orders
Draft of the regulations and orders is now available.

Pensions Tax simplification - Note on further regulations
Note on further regulations is now available.

Pensions Tax simplification - Notification of legislation on lump sums for money purchase
Notification of legislation on lump sums for money purchase is now available.

Pensions Tax simplification - Draft of proposed legislation on unsecured pension funds
Draft of proposed legislation on unsecured pension funds is now available.

New Construction Industry Scheme - New Guidance Available
Guidance on the new Construction Industry Scheme, consisting of a detailed booklet and nine Factsheets, is now available.

Court cases (PDF 69K)
Details of selected court cases in which the Solicitor's Office are involved has been updated today.
5 August - The Tax Law Rewrite project's Report and Plans 2005/06

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4 August - Form 41G(Trust)

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4 August - DT Guidance Note 8: Relief at Source under Double Taxation Treaties
The Centre for Non-Residents (CNR) has issued a Guidance Note to clarify how non-residents who are receiving UK-source payments for which CNR has authorised "relief at source" (in whole or part) under a double taxation treaty can seek to renew that exemption authority.

* * *
4 August - Pensions Tax Simplification
An update on the new Pensions Schemes Online service has been published today.

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2 August - Tax Arbitrage
Guidance and examples on the Arbitrage legislation in Finance (No 2) Act 2005 are now available.

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2 August - Publication of New Technical Guidance Manual on Employment-Related Securities
The new Employment-Related Securities Manual (ERSM) is released today. It contains guidance on the taxation of employment-related securities under Part 7 ITEPA 2003. Material is being released in instalments, with priority being given in this first release to guidance for the most common situations.

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2 August - Inheritance Tax forms: Forms Software
The list of approved software suppliers of substitute Inheritance Tax forms has been updated.

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2 August - Reform of Construction Industry Scheme (CIS Reform) Online: Electronic Data Interchange Technical Pack for Software Developers
The message Implementation Guidelines (MIG's) for the three new EDI Construction Industry Scheme (CIS) messages are available. These replace the draft copies previously published.

* * *
2 August - Shares of negligible value
The negligible value list has been updated to 31/07/05.

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1 August - Tax Law Rewrite
The minutes of the 49th meeting of the Steering Committee (PDF 20K) have now been published.

* * *
1 August - Tax Law Rewrite
The minutes of the 53rd meeting of the Consultative Committee (PDF 102K) have now been published.

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