Business and Other Briefings

HMRC: International action against tax avoidance is taking an important step forward with the arrival of a representative of the State Administration of Taxation (SAT) of China at the Joint International Tax Shelter Information Centre’s (JITSIC) London office.
 
JITSIC is an international initiative to identify and curb tax avoidance & shelters and those who promote & invest in them.  Tax avoidance has a detrimental effect on the economies of all countries, depriving them of vital resources whilst promoting complexity and inequity within the tax system.
 
The State Administration of Taxation (SAT) of China is sending a representative to JITSIC's London office, hosted by HM Revenue & Customs (HMRC), to observe the activities and improve international co-operation.
Press release ~ Joint International Tax Shelter Information Centre (JITSIC)
 
HMRC: Businesses required under new regulations to identify & prevent money laundering and terrorist financing have until 30 September 2008 to apply to register. HM Revenue & Customs (HMRC) is reminding Trust or Company Service Providers (TCSPs) and Accountancy Service Providers (ASPs) that they must send in application forms.
 
There is a registration fee of £95 per premise for businesses registering with HMRC and a £50 fee per person for applicants for the fit and proper test (MSBs and TCSPs only).
Press release ~ Money Laundering Regulations - registration summary
 
WAG: Local Government Minister, Dr Brian Gibbons has announced a £7m package of rate relief that will support around 10,600 smaller businesses across Wales.  The package of additional support is in line with the Assembly Government’s commitment to increase the number of businesses that benefit from the small business rate relief scheme that was introduced in April 2007.

Around 37,000 businesses across Wales already get help from the small business rate relief scheme and 10,600 more small businesses could benefit from a significant reduction in their rates under this latest package.
Press release ~ WAG – Business and economy
 
HMRCRevenue & Customs Brief 46/08
This brief details our position in the case of Loyalty Management (UK) Ltd (LMUK) and provides interim guidance, pending the outcome of HMRC's appeal, for those businesses affected by the Court of Appeal decision.
 
HMRCRevenue & Customs Brief 45/08
Guidance about duty becoming due from 1 November 2008 on waste oil reused as fuel for heating or in an engine, and what you have to do to account for it.
 
HMRCRevenue & Customs Brief 44/08
This Brief provides guidance including worked examples, on the VAT implications when house builders decide to temporarily let their dwellings before selling them.
 
HMRCRevenue & Customs Brief 43/08
This Brief contains information about the amended MLR 8 Guide.
 
HMRCRevenue & Customs 42/08
This Brief gives details of an article: Use of rebated fuel in grass cutting vehicles.
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