This week we bring you news of what is happening with the Register of Overseas Entities, and HMRC has published a new set of Compliance Professional Standards. HMRC has extended the Capital Gains Tax (“CGT”) 60-day reporting paper form trial, and we bring you the highlights from the latest Agent Updates published over the summer (110 and 111) and an email from HMRC on the changes to alcohol duty which took effect from 1 August 2023. The most recent News and Information Bulletins from HMRC (27 July and 31 August) are also available. HMRC has also emailed us to advise that the online process for obtaining overlap relief information in the context of basis period reform will commence on the later date of 11 September.
Compliance Professional Standards
HMRC’s Customer Compliance Group (“CCG”) has introduced and published a set of Compliance Professional Standards. The Standards set out how HMRC should apply the HMRC Charter and Civil Service values in HMRC’s compliance activity. HMRC is sharing these to be open and transparent about how it aims to conduct its work in this space.
The main objective is to clearly set out the way HMRC should behave and act when conducting any form of compliance work. The standards also aim to reinforce the CCG’s commitment to HMRC’s Charter. The four Compliance Professional Standards are as follows:-
- Getting things right;
- Being aware of a taxpayer’s situation;
- Being responsive - communicating with taxpayers; and
- Treating taxpayers fairly.
The standards set out how HMRC should apply the HMRC Charter and Civil Service values in compliance activity.
CGT 60-day reporting paper form trial extended
HMRC has extended the trial of the paper version of the CGT 60-day return for property disposals until the end of September. It should be noted that a permanent solution is still required to assist those unable to file online who had issues receiving a paper form in the post in order to file within the necessary 60-day deadline. The simplest solution to this would be for HMRC to make the form downloadable from GOV.UK, hence this is being pursued with HMRC.
Highlights from the latest Agent Updates
Agent Update 110 confirms HMRC’s current position on digital records and signatures. Subject to exceptions, HMRC accepts digital records including scanned copies of documents with handwritten signatures. More information is available in Agent Update 110 which also contains updates on other topical areas including PPI (Payment Protection Insurance) claims, the new Alcohol Duty rates and reliefs, the HMRC online service for the new Economic Crime Levy, the UK Internal Market Scheme, overlap relief in the context of basis period reform, and self-service Time to Pay for VAT.
In Agent Update 111, read about the National Minimum Wage and the VAT treatment of second-hand motor vehicles bought in Great Britain and moved to Northern Ireland before 1 May 2023 that are still held in stock, amongst other topics.
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