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HMRC watch: A review of “What’s new" for SMEs this week

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29th Jun 2007
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No more trawling through the endless webpages, lists of statutory instruments and double taxation treaties that dominate HMRC’s website, Nichola Ross Martin brings you a summary of what is new (and relevant) on HMRC’s site for SME owners and advisors.

Company Cars – new advisory fuel rates for company cars from 1 August 2007
HMRC has given a months notice of the New rates for company car drivers

VAT – reasonably excuse for delays following postal dispute

VAT Returns and payments that are delayed by the postal dispute will be viewed sympathetically. There will be no liability to surcharge where the postal strike has caused a delay.

CT Online customers and their agents
From 27th June 2007, companies will be able to use the links within the online 'About Your Organisation' page to:
a. Change company name (Unincorporated companies only)
b. Change company address (Unincorporated companies only)
c. Add or change contact details
d. Add or delete communication details
e. Add/Change/Delete an Agent (Companies only).
All features except 'Add/Change/Delete an Agent' are available to companies and authorised agents acting on their behalf. In addition, agents will be able to change their own address and their own contact details. More…
If you are “confuffled by the terminology” here, i.e. what exactly is an “unincorporated company”? (as your Tax Editor has to admit that she was) follow this link for an explanation!

VAT: Buildings and construction
VAT notice 708 has been updated; this is essential reading for developers through to self-builders (and their advisors) seeks to better explain:

The main changes in content are:

  • The section on VAT Liability has been amended to explain how sub-contractors are affected by VAT.
  • The section on the zero-rating of new buildings has been amended to explain more clearly what an annexe is.
  • The sections on the conversion of non-residential buildings have been amended to explain that, in particular circumstances, the conversion of a garage can be a non-residential conversion.
  • The section on building materials has been amended to ensure that only those electrical appliances stipulated in law are shown as building materials.
  • The section on certificates for qualifying buildings has been amended to explain what we mean by use in the context of ‘using a building’.
  • The section on self billing has been amended to reflect the publication of a specific notice on the subject,

What's New with HMRC - previous weeks:
W/e 22nd June 2007
W/e 15th June 2007
W/e 8th June 2007

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