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Business and Other Briefings
HMRC: HMRC is urging employers & individuals who have set up their own pension scheme to check who their pension scheme administrator is, and make sure they are aware of their responsibilities. If you have set up your own scheme - rather than just joined an existing scheme - using an insurance company, bank or other provider, in some cases they will not be the legal scheme administrator - it could be you.
All pension schemes must have at least one scheme administrator, and they have certain legal responsibilities, so, if you're not sure who your scheme administrator is, HMRC suggests you contact your scheme provider directly in the first instance.
If you still need help, visit the HMRC website, or, contact HMRC's Pensions Helpline on 0115 974 1600.
Competition Commission: The Competition Commission (CC) has concluded that the anticipated joint venture between Kemira GrowHow Oyj (Kemira) and Terra Industries Inc (Terra) could damage competition in the market for the supply of carbon dioxide as well as those for related chemical products.
The joint venture (JV) would merge the greater part of the UK businesses of these two international companies, which are both fertilizer production businesses but also sell chemical products which are outputs from their processes.
In order to address the potential damage to competition, the CC has decided on remedies to protect customers' interests by ensuring that there continue to be alternative suppliers of these products after the JV has been established.
HMRC: HM Revenue & Customs has announced new rates of interest covering quarterly instalment payments and early payments of corporation tax not due by instalments, in respect of accounting periods ending on or after 1 July 1999. These new rates of interest, which take effect from 16 July 2007, are a result of the recent movement in market rates:
* On underpaid instalment payments of corporation tax changes from 6.50% to 6.75%
* On overpaid instalment payments of corporation tax, and on corporation tax paid early (but not due by instalments) changes from 5.25% to 5.50%.
This Brief gives details of an article concerning: VAT: Court confirms HMRC’s policy on all-inclusive leisure facilities schemes
This Brief gives details of an article concerning : Review of the Registered Dealers in Controlled Oil scheme (RDCO).
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