[12/09/2013] Disincorporation Relief is available to small businesses looking to convert from being a corporation subject to the regulations of the Companies Acts to the flexibility of being unincorporated.
HMRC provides a list of shares or securities formerly quoted on the London Stock Exchange, which have been officially declared of negligible value for the purposes of a claim under S24(2) Taxation of Chargeable Gains Act 1992 by the Shares and Assets Valuation Office.
The Expenses and Benefits from Employment Toolkit and the National Insurance Contributions and Statutory Payments Toolkit have been updated and can be used for 2011/12 tax returns. Access the HMRC toolkits via the link on this page.
HMRC have announced an extension to its Alternative Dispute Resolution (ADR) Scheme, following a successful initial trial period.
The essence of the scheme is to offer an is for an "independent HMRC facilitator" to offer a mediation-based approach to resolving a tax disputes which arise during the course of a compliance check, before an assessment or appealable decision is issued. Its aim is to reach a quick and fair conclusion the dispute and to avoid the need for either party to take the case to Tax Tribunal.
From 1 March statutory instrument 2012 number 266 The enactment of extra-statutory concessions order 2012 comes into force. On the same date extra statutory concession (ESC) C16 is effectively withdrawn.
The Finance Act 2002 changed the treatment of goodwill amortised by companies. It does not apply to goodwill acquired prior to 1 April 2002 which continues to be treated within the capital gains regime, neither does it apply to internally-generated goodwill.