TAXline weekly news update No 335
This is a summary of the key tax events for the week ended 3 December 2006. It has been compiled by Anita Monteith, Ian Young and Jane Moore
This newswire includes details of all the individual postings we have made to the Tax Faculty website over the past seven days.
You can also download this week's newswire in Word format:
Download TAXline No 335 (Word 58kb/5 pages)
Pre Budget Report (PBR) - 6 December 2006
The ICAEW Tax Faculty expectations
We have drawn together some of what we know and with some of our expectations and prepared a pre PBR briefing paper (Word 105kb/5 pages)
Tax Club
Don’t forget that on Tuesday 12th December, Tax Club will be having an extra meeting at which our younger club members will be discussing their views on this year’s PBR and what they think it means for tax.
The Tax Faculty team will present their analysis of the PBR to assist the debate.
The meeting will as usual be 6pm for a 6.15pm start at the red Herring pub and will have a decidedly festive flavour. So those members of Tax Club keen to party should not be disappointed.
Residence: Gaines Cooper SpC 568
Coming and going matter after all
It has long been accepted practice that when seeking to establish the number of days that an individual is considered to be resident in the UK during a tax year, the days of arrival and departure are ignored.
The recent decision in the case of Gaines Cooper SpC 568 sent a shock wave through personal tax advisers who have long relied on this practice set out in HMRC leaflet IR20, Residents and non-residents.
In Mr Gaines-Cooper’s case, days of arrival and departure were not ignored in calculating days of residence in the UK.
The Tax Faculty will be considering the issues arising from this decision during the next couple of weeks. If you have comments which you would like considered, please email Anita.Monteith@icaew.com
VAT registration
Revised form
Tax credits for childcare or vouchers?
Electronic calculator now available
New Management Act
Overhaul of tax legislation governing administration
HMRC listens to LSCA members
Following the success of HMRC appearances on the 2006 Tax Faculty Roadshow, HMRC are once again in listening mode
Pre-owned assets tax (‘POAT’)
We need examples of real cases liable to POAT but where the estate is worth less than the nil rate band
FORMS P11D – should they stay or should they go?
The Better Regulation exercise that HMRC undertook identified that the completion of forms P11D are a burden to employers
4 December 2006
