What's On, Issue 4
Engagment with HMRC and other policy makers
We have had a number of recent interactions with HMRC including:
We have had a number of meetings including:
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Use and enjoyment: making the rule work
The summer Budget announced proposals to extend the ‘use and enjoyment’ rules to prevent VAT avoidance.
Pre-registration VAT: assets held when first registered
We have been asked to consider the application of the rules regarding ‘pre-registration VAT’ on assets held when a business is first registered.
Business record checks
The CIOT has welcomed HMRC’s decision to wind down their Business Record Check (BRC) programme from 20 October 2015.
Deeds of variation
The CIOT and ATT responded to HMRC’s ‘Call for evidence into the use of Deeds of Variation for tax purposes’.
Extensions of averaging period for farmers: HMRC consultation document
The CIOT and ATT have recently responded to HMRC’s consultation document Income Tax: Extension of averaging period for farmers.
FB 2015 – EIS and VCT sunset clauses
The article ‘Proposed refocusing of the enterprise investment scheme’ (Tax Adviser, May 2015) drew attention to the joint Treasury and HMRC publication in March of draft legislation and explanatory
FB 2015 – goodwill and other intangible assets, restriction to relief
The CIOT has written to the Finance Bill Committee commenting on clause 32 of the Finance Bill which will prevent corporation tax deductions, such as amortisation and impairment debits, for goodwil
FB 2015 – annual investment allowance
The article ‘AIA – arithmetical intricacies?’ (Tax Adviser, September 2015) referred to the ATT’s submission of written evidence to the Finance Bill committee on clause 8.