Business and Other Briefings

BERR: A new code of practice - the Regulators' Compliance Code - requires regulators to take a risk-based approach to inspection & enforcement, which should mean fewer inspections and less regulatory burden for the majority of compliant businesses, but more rigorous inspection when there is high risk of a business not complying with regulation – See ‘Guidance Notes and Best Practice Guides’ for more information
 
BERR: Business Minister Shriti Vadera has launched a new investigation into the UK's automotive industry to identify measures to tackle the twin challenges of low cost competition and the move to lower-carbon transport.
 
The investigation will also look at a new Departmental survey on the business environment for Japanese automotive supply companies in the UK, aimed at improving the UK's supply chain capabilities, including in areas such as management skills and the pace of new product delivery.
Press release ~ Original AIGT 2002 Report ~ Automotive - BERR ~ Report on the Business Environment for Japanese Automotive Supply Companies ~ Driving Force: Success and Sustainability in the UK Automotive Industry ~ Low Carbon Vehicle Partnership ~ Automotive Academy ~ Cenex for Low Carbon and Fuel Cells Technologies ~ innovITS for Intelligent Transport System and Services
 
BERR: Government has worked to ensure that important laws come into force on only two dates per year, allowing companies to plan ahead and save time and money. Business has estimated that up to 10% of time - or £628m per year - can be saved through changes to the law being announced on two 'common commencement dates', one in April and one in October – See ‘Legislation / Legal’ section for more information.
 
HMRC: Millions of new look tax returns will be dropping onto doormats from this week, following a revamp of the main self assessment (SA) tax return.  It has fewer questions, simpler language and an improved layout.  It's designed to be easier to understand and complete for all SA customers but, in particular, for those who are self-employed or who don't use an accountant to complete their return.
 
A redesigned version of the online SA return is also now available. From this year, there are also changes to the SA deadlines - paper returns must now be filed by 31 October 2008, while the deadline for online returns remains at 31 January 2009.
Press release ~ HMRC: File a Self Assessment tax return online ~ HM Revenue & Customs: The Short Tax Return
 
HMRC: HM Revenue & Customs (HMRC) has launched the latest in its series of award-winning podcasts for tax agents and intermediaries.  In the latest edition, Stephen Banyard, Director of HMRC's Business Customer Unit, discusses the changes to self assessment filing deadlines, what this means for agents and clients, how to avoid penalties and the support available for online filers.
Press release ~ HMRC podcasts
 
HMRCRevenue & Customs Brief No 23/08
This Brief gives details of an article: Inheritance tax and valuation of gifts involving a Discounted Gift Scheme
 
HMRCRevenue & Customs Brief 22/08
This Brief gives details of an article: Obligation of local authorities to deduct tax from interest
 
HMRCRevenue & Customs Brief 21/08
This Brief gives details of an article: Eurobonds and deduction of tax
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