Yellow Tax Handbook 2019-20

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Legislation

Provides the fully amended and annotated text of all legislation and official material relating to income tax, capital gains tax, corporation tax, national insurance contributions, tax credits, petroleum revenue tax and inheritance tax.

Includes statutes and statutory instruments; extra-statutory concessions and statements of practice; footnotes indicating amendments to legislation; cross-references; definitions; additional helpful material including Revenue and other press releases and cross-references to the Revenue Internal Guidance Manuals.

SOURCE CURRENCY

29 November 2019

Yellow Tax Handbook 2019-20

The Yellow Tax Handbook 2019-20 has been updated to incorporate all the changes form Finance Act 2019.
All primary legislation in the service has been updated to reflect amendments, and prospective amendments, enacted by FA 2019. Amending and modifying statutory instruments published up to April 2019 have also been incorporated into the legislation as appropriate.

The Yellow Tax Handbook 2019-20 has been updated to incorporate the following:

Guidance
The following guidance has been updated: RDR4: Guidance Note: Overseas Workday Relief (OWR)

Factsheets
The following factsheets have been updated: CC/FS1a About compliance checks CC/FS1b General information about checks by Campaigns and Projects

23 October 2019
Legislation
Interpretation Act 1978 amended by the Legislation (Wales) Act 2019
TCGA 1992 amended by the Taxation of Chargeable Gains Act 1992, Schedule 8B (Substitution of Dates) Regulations, SI 2019/1237
ITEPA 2003 section 297D brought into force by SI 2019/1160
ITEPA 2003 amended by the Higher Education and Research Act 2017
(Further Implementation etc) Regulations, SI 2019/1027
CTA 2009 amended by SI 2019/1250
European Union (Withdrawal) Act 2018 amended by European Union (Withdrawal) Act 2019
Tonnage Tax (Training Requirement) Regulations 2000 amended by the Tonnage Tax (Training Requirement) (Amendment etc) Regulations, SI 2019/1227
The Data-gathering Powers (Relevant Data) Regulations, SI 2012/847 amended by the Data-gathering Powers (Relevant Data) (Amendment) (EU Exit) Regulations, SI 2019/1221
The Capital Requirements (Country-by-Country Reporting) Regulations 2013 amended by SI 2019/232

IHT
The Data-gathering Powers (Relevant Data) Regulations, SI 2012/847 amended by the Data-gathering Powers (Relevant Data) (Amendment) (EU Exit) Regulations, SI 2019/122

3 October 2019
Legislation
Amendments made to:
ITEPA 2003
ITA 2007
EUWA 2018
FA 2019

NIC
National Insurance Contributions (Termination Awards and Sporting Testimonials) Act 2019
Social Security (Contributions) Regulations 2001 amended by Social Security (Contributions) (Amendment No 2) Regulations, SI 2019/1009

The Yellow Tax Handbook has been updated to incorporate changes in:
ITTOIA 2005 ss 1-364
ITA 2007 ss 1-332, ss 333-809ZR, s 809A
Finance Act 2007
Tribunals, Courts and E Act 2007
Finance Act 2008
Finance Act 2011
NEW: Scottish Fiscal Commission Act 2016
Finance Act 2016 - sections
Finance Act 2016 - Schedules
Finance Act 2018
New file: European Union (Withdrawal) Act 2018

Yellow Part 2a
Contents lists and SIs up to 1991/1614
2000/600 to 2003/2495
2006/129 to 2006/573
2007/46 to
2011/22 onwards

Yellow Part 2b
Statements of Practice

Legislation
The following has been added in full:
Insurance Companies (Taxation of Re-insurance Business) Regulations 2018, SI 2018/538
The Transfer of Functions (Digital Government) Order 2018, SI 2018/526
Capital Allowances (Designated Assisted Areas and Amendment) Order 2018, SI 2018/485

Amendments made by:
Capital Allowances (Designated Assisted Areas and Amendment) Order 2018, SI 2018/485
International Tax Compliance (Amendment) Regulations 2018, SI 2018/490
First-tier Tribunal and Upper Tribunal (Chambers) (Amendment) Order 2018, SI 2018/509
Tribunal Procedure (Amendment) Rules 2018, SI 2018/511
The Transfer of Functions (Digital Government) Order 2018, SI 2018/526
Insurance Companies (Taxation of Re-insurance Business) Regulations 2018, SI 2018/538

Legislation
Finance Act 2018 has been added in full
Changes made by Finance Act 2018 have been included.

Legislation
The following legislation has been added in full:
Co-ownership Authorised Contractual Schemes (Tax) Regulations, SI 2017/1209
Inheritance Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations, SI 2017/1172
Amendments made by:
General Anti-Abuse Rule Procedure (Amendment) Regulations, SI 2017/1090
Childcare Payments (Amendment) Regulations, SI 2017/1096
Childcare Payments (Eligibility) (Amendment) Regulations, SI 2017/1101
Childcare Payments Act 2014 (Commencement No 5) Regulations SI 2017/1116
Cultural Test (Television Programmes) (Amendment) Regulations, SI 2017/1138
Policing and Crime Act 2017 (Commencement No 5 and Transitional Provisions) Regulations, SI 2017/1139
Scotland Act 2016 (Commencement No. 7) Regulations, SI 2017/1157
Policing and Crime Act 2017 (Commencement No 5 and Transitional Provisions) (Amendment) Regulations, SI 2017/1162
Tax Collection and Management (Permitted Disclosures) (Wales) Regulations, SI 2017/1163
Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations, SI 2017/692
Tribunal Procedure (Amendment No 2) Rules, SI 2017/1168
First-tier Tribunal and Upper Tribunal (Chambers) (Amendment No 2) Order, SI 2017/1169
Tax Avoidance Schemes (Miscellaneous Amendments) Regulations, SI 2017/1171
Data-gathering Powers (Relevant Data) (Amendment) Regulations, SI 2017/1175
Van Benefit and Car and Van Fuel Benefit Order, SI 2017/1176
Wales Act 2017 (Commencement No 4) Regulations, SI 2017/1179
Personal Portfolio Bonds (Amendment of Property Categories in Section 520 of the Income Tax (Trading and Other Income) Act 2005) Regulations, SI 2017/1182
Finance Act 2014, Section 300 (Local Loans) (Appointed Day) Order, SI 2017/1183

Legislation
New material covered
Child Trust Funds (Amendment No 2) Regulations 2017, SI 2017/748
Childcare Payments Act 2014 (Commencement No 4) Regulations 2017, SI 2017/750
Tax Credits (Exercise of Functions in relation to Northern Ireland and Notices for Recovery of Tax Credit Overpayments) Order 2017, SI 2017/781

Legislation
The following legislation has been added in full:
Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692

Amendments made by:
Childcare Payments Act 2014 (Commencement No 3 and Transitional Provisions) Regulations 2017, SI 2017/578
Social Security (Miscellaneous Amendments No 3) Regulations 2017, SI 2017/613
First-tier Tribunal and Upper Tribunal (Chambers) (Amendment) Order, SI 2017/722
Tribunal Procedure (Amendment) Rules 2017, SI 2017/723
Policing and Crime Act 2017 (Commencement No 3 and Transitional and Saving Provisions) Regulations 2017, SI 2017/726
Police and Criminal Evidence Act 1984 (Application to Revenue and Customs) (Amendment) Order 2017, SI 2017/736
Capital Allowances Act 2001 (Cars Emissions) (Amendment) Order 2017, SI 2017/740

Finance Act 2017
All the changes made by Finance Act 2017 have been included.

Legislation
Finance Act 2017 has been added in full

Legislation
The following legislation has been included in full:
Scottish Infected Blood Support Scheme (Application of Sections 731, 733 and 734 of the Income Tax (Trading and Other Income) Act 2005) Order 2017, SI 2017/446
Upper Tribunal for Scotland (Transfer of Functions of the Upper Tax Tribunal for Scotland) Regulations 2017, SSI 2017/105
First-tier Tribunal for Scotland (Transfer of Functions of the First-tier Tax Tribunal for Scotland) Regulations 2017, SSI 2017/106
First-tier Tribunal for Scotland Tax Chamber and Upper Tribunal for Scotland (Composition) Regulations 2017, SSI 2017/107

Amendments made by:
Pensions Act 2014 (Consequential, Supplementary and Incidental Amendments) Order 2017, SI 2017/422
Corporation Tax (Treatment of Unrelieved Surplus Advance Corporation Tax) (Amendment) Regulations 2017, SI 2017/454
Individual Savings Account (Amendment No 2) Regulations 2017, SI 2017/466
Scotland Act 2016 (Income Tax Consequential Amendments) Regulations 2017, SI 2017/468
Enactment of Extra-Statutory Concessions Order 2017, SI 2017/495
Taxes (Base Erosion and Profit Shifting) (Country-by-Country Reporting) (Amendment) Regulations 2017, SI 2017/497
Tribunals (Scotland) Act 2014 (Ancillary Provisions) Regulations 2017, SSI 2017/108
Scottish Tribunals (Listed Tribunals) Regulations 2017, SSI 2017/109
Police (Complaints and Misconduct) (Amendment) Regulations 2017, SI 2017/575
Tax Credits (Claims and Notifications) (Amendment) Regulations 2017, SI 2017/597
International Tax Compliance (Amendment) Regulations 2017, SI 2017/598

Legislation
The following legislation has been included in full:
Sporting Testimonial Payments (Excluded Relevant Step) Regulations 2016, SI 2016/1250
Investment Allowance and Cluster Area Allowance (Investment Expenditure) Regulations 2017, SI 2017/292
Asset-based Penalty for Offshore Inaccuracies and Failures (Reductions for Disclosure and Co-operation) Regulations 2017, SI 2017/334
Penalties Relating to Offshore Matters and Offshore Transfers (Additional Information) Regulations 2017, SI 2017/345
First-tier Tribunal for Scotland Tax Chamber (Procedure) Regulations 2017, SSI 2017/69
Capital Gains Tax (Annual Exempt Amount) Order 2017, SI 2017/377
Amendments made by:
Savings (Government Contributions) Act 2017
Small Charitable Donations and Childcare Payments Act 2017
Child Trust Funds (Amendment) Regulations 2017, SI 2017/185
Individual Savings Account (Amendment) Regulations, SI 2017/186
Offshore Funds (Tax) (Amendment) Regulations 2017, SI 2017/240
Scottish Fiscal Commission Act 2016 (Consequential Provisions and Modifications) Order 2017, SI 2017/241
Income Tax (Relevant Maximum for Calculating Trade Profits on the Cash Basis) Order 2017, SI 2017/293
Taxes (Interest Rate) (Amendment) Regulations 2017, SI 2017/305
Social Security (Miscellaneous Amendments) Regulations 2017, SI 2017/307
Taxation of Northern Ireland Welfare Supplementary Payments Regulations 2017, SI 2017/338
Social Security Benefits Up-rating Regulations 2017, SI 2017/349
Corporation Tax Act 2010 (Part 8C) (Amendment) Regulations 2017, SI 2017/364
Social Security (Miscellaneous Amendments No 2) Regulations 2017, SI 2017/373
Child Tax Credit (Amendment) Regulations 2017, SI 2017/387
Tax Credits (Definition and Calculation of Income) (Amendment) Regulations 2017, SI 2017/396
Registered Pension Schemes (Authorised Payments) (Amendment) Regulations 2017, SI 2017/397
Pension Schemes (Categories of Country and Requirements for Overseas Pension Schemes and Recognised Overseas Pension Schemes) (Amendments) Regulations 2017, 2017/398
Tax Credits and Guardian's Allowance Up-rating etc Regulations, SI 2017/406
Income Tax (Pay As You Earn) (Amendment) Regulations 2017, SI 2017/414
Social Security (Contributions) (Rates, Limits and Thresholds Amendments and National Insurance Funds Payments) Regulations 2017, SI 2017/415
Social Security (Contributions) (Re-rating) Consequential Amendment Regulations 2017, SI 2017/416
Commencement (amendments activated)
Finance Act 2016, Schedule 21 (Appointed Days) Regulations 2017, SI 2017/259
Finance Act 2016, Section 164 (Appointed Day) Regulations 2017, SI 2017/261
Finance Act 2016, Schedule 22 (Appointed Days) Regulations 2017, SI 2017/277
Finance Act 2016, Section 113(1) to (4) (Commencement) Regulations 2017, SI 2017/355
Commencement only
Scotland Act 2016 (Commencement No 4, Transitional and Savings) Regulations 2017, SI 2017/300
Wales Act 2017 (Commencement No 1) Regulations 2017, SI 2017/351
NIC
The following legislation has been included in full:
Social Security Revaluation of Earnings Factors Order 2017, SI 2017/287
Amendments made by:
Social Security (Contributions) (Rates, Limits and Thresholds Amendments and National Insurance Funds Payments) Regulations 2017, SI 2017/415
Social Security (Contributions) (Re-rating) Consequential Amendment Regulations 2017, SI 2017/416
IHT
The following legislation has been included in full:
Penalties Relating to Offshore Matters and Offshore Transfers (Additional Information) Regulations 2017, SI 2017/345

Legislation
The following legislation has been included in full:
Small Charitable Donations and Childcare Payments Act 2017
Savings (Government Contributions) Act 2017
Scotland Act 1998 and Scotland Act 2016 amended by:
Scotland Act 2016 (Commencement No 2) Regulations 2016, SI 2016/1161
Scotland Act 2016 (Commencement No 3) Regulations 2016, SI 2016/1178
TCGA 1992, CAA 2001, CRCA 2005, GWA 2006, TCEA 2007, CTA 2010, Wales Act 2014 amended by:
Wales Act 2017
FA 1999 and ITA 2007 amended by:
Donations to Charity (Gift Aid Declarations) Regulations 2016, SI 2016/1195
ITEPA 2003 amended by:
Van Benefit and Car and Van Fuel Benefit Order 2016, SI 2016/1174
Income Tax (Pay As You Earn) (Amendment No 3) Regulations 2016, SI 2016/1137
FA 2004 amended by:
Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2017, SI 2017/11
FA 2005 amended by:
Securitisation Companies (Application of Section 83(1) of the Finance Act 2005:
Accounting Standards) (Amendment) Regulations 2016, SI 2016/1182
ITA 2007 amended by:
Income Tax (Indexation) Order 2016, SI 2016/1175
Venture Capital Trust (Amendment) Regulations 2016, SI 2016/1192
CTA 2009 amended by:
Loan Relationships and Derivative Contracts (Change of Accounting Practice)
Regulations 2016, SI 2016/1234
CTA 2010 amended by:
Corporation Tax Act 2010 (Profits Arising from the Exploitation of Patents)
Foreign Taxes Designation Regulations 2016, SI 2016/1181
FA 2011 amended by:
Bank Levy (Double Taxation Relief) (Single Resolution Fund Levy) Regulations 2016, SI 2016/1212
FA 2013 amended by:
Annual Tax on Enveloped Dwellings (Indexation of Annual Chargeable Amounts) (No 2) Order 2016, SI 2016/1244
FA 2016 amended by:
Finance Act 2016, Sections 184 to 188 and Schedule 25 (Commencement) Regulations 2016, SI 2016/1133
Finance Act 2016, Section 162(1) and Schedule 20 (Appointed Day) Regulations 2016, SI 2016/1249
Amendments made by:
Wales Act 2017
Finance Act 2016, Sections 184 to 188 and Schedule 25 (Commencement) Regulations 2016, SI 2016/1133
Income Tax (Pay As You Earn) (Amendment No 3) Regulations 2016, SI 2016/1137
Income Tax (Indexation) Order 2016, SI 2016/1175
Corporation Tax Act 2010 (Profits Arising from the Exploitation of Patents) Foreign Taxes Designation Regulations 2016, SI 2016/1181
Securitisation Companies (Application of Section 83(1) of the Finance Act 2005: Accounting Standards) (Amendment) Regulations 2016, SI 2016/1182
Venture Capital Trust (Amendment) Regulations 2016, SI 2016/1192
Donations to Charity (Gift Aid Declarations) Regulations 2016, SI 2016/1195
Bank Levy (Double Taxation Relief) (Single Resolution Fund Levy) Regulations 2016, SI 2016/1212
Loan Relationships and Derivative Contracts (Change of Accounting Practice) Regulations 2016, SI 2016/1234
Annual Tax on Enveloped Dwellings (Indexation of Annual Chargeable Amounts) (No 2) Order 2016, SI 2016/1244
Finance Act 2016, Section 162(1) and Schedule 20 (Appointed Day) Regulations 2016, SI 2016/1249
Taxation of Chargeable Gains (Gilt-edged Securities) Order 2017, SI 2017/10
Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2017, SI 2017/11
NIC
Amendments made by:
Social Security (Credits, and Crediting and Treatment of Contributions) (Consequential and Miscellaneous Amendments) Regulations 2016, SI 2016/1145
Tax Credits
Amendments made by:
Armed Forces and Reserve Forces Compensation Scheme (Consequential Provisions: Subordinate Legislation) Order 2013, SI 2013/591
Petroleum Revenue Tax
Amendments made by:
Wales Act 2017

Codes of Practice and Factsheets
The following Factsheets have been updated:
COP8: HMRC fraud investigation service
CC/FS17: Higher penalties for offshore matters
CC/FS24: Tax avoidance schemes - accelerated payments
CC/FS30a: Tax avoidance schemes - penalties for follower notices
CC/FS34: General anti-abuse rule and provisional counteraction notices
CC/FS38: Serial tax avoidance - warning notices

Guidance Notes
The following Guidance note has been updated:
RDR3: Statutory Residence Test guidance note

Statements of Practice
The following Statement of Practice has been updated:
Statement of Practice 1/2001: Treatment of investment managers and their overseas clients
Statement of Practice 2/2010: Advance Pricing Agreements

Legislation
Tribunals (Scotland) Act 2014 amended by:
First-tier Tribunal for Scotland (Chambers) Regulations 2016, SSI 2016/341
Scottish Tribunals (Offences in Relation to Proceedings) Regulations 2016, SSI 2016/342
Amendments made by:
First-tier Tribunal for Scotland (Chambers) Regulations 2016, SSI 2016/341
Scottish Tribunals (Offences in Relation to Proceedings) Regulations 2016, SSI 2016/342

Finance Act 2016
The Finance Act 2016 has been added in full.

Legislation
TA 1988 and ITEPA 2003 amended by:
House of Commons Members' Fund Act 2016
CAA 2001 amended by:
Capital Allowances (Designated Assisted Areas) Order 2016, SI 2016/751
Major Sporting Events (Income Tax Exemption) Regulations 2016, SI 2016/771
FA 2000 amended by:
Tonnage Tax (Training Requirement) (Amendment) Regulations 2016, SI 2016/819
TCEA 2007 amended by:
The Criminal Justice and Courts Act 2015 (Commencement No. 4 and Transitional Provisions) Order 2016, SI 2016/717
Civil Proceedings, First-tier Tribunal, Upper Tribunal and Employment Tribunals Fees (Amendment) Order 2016, SI 2016/807
Amendments made by:
Tonnage Tax (Training Requirement) (Amendment) Regulations 2016, SI 2016/819

Codes of Practice and Factsheets
The following Factsheets have been added:
CC/FS12: Compliance checks - Penalties for VAT and excise wrongdoings
CC/FS25b: Tax avoidance schemes - partnership follower notices and accelerated partner payments

RDR1
RDR1 has been updated to reflect the changes made in June 2016

Legislation
ITEPA 2003 amended by:
Universal Credit (Consequential, Supplementary, Incidental and Miscellaneous Provisions) Regulations (Northern Ireland) 2016, SI 2016/236
Income Tax (Pay As You Earn) (Amendment No. 2) Regulations 2016, SI 2016/747

ITA 2007 amended by:
Major Sporting Events (Income Tax Exemption) Regulations 2016, SI 2016/771

PAYE Regs amended by:
Universal Credit (Consequential, Supplementary, Incidental and Miscellaneous Provisions) Regulations (Northern Ireland) 2016, SI 2016/236
Income Tax (Pay As You Earn) (Amendment No. 2) Regulations 2016, SI 2016/747

Amendments made by:
Universal Credit (Consequential, Supplementary, Incidental and Miscellaneous Provisions) Regulations (Northern Ireland) 2016, SI 2016/236
Employers' Duties (Implementation) (Amendment) Regulations 2016, SI 2016/719
Income Tax (Pay As You Earn) (Amendment No. 2) Regulations 2016, SI 2016/747
Capital Allowances (Designated Assisted Areas) Order 2016, SI 2016/751
Major Sporting Events (Income Tax Exemption) Regulations 2016, SI 2016/771

The following has been added in full:
Scottish Tribunals (Eligibility for Appointment) Regulations 2015, SSI 2015/381
Capital Allowances (Designated Assisted Areas) Order 2016, SI 2016/751
Major Sporting Events (Income Tax Exemption) Regulations 2016, SI 2016/771

NIC
Amendments made by:
Social Security (Contributions) (Amendment No. 3) Regulations 2016, SI 2016/647

Legislation
The following has been added in full:
Scotland Act 2016
Tax Collection and Management (Wales) Act 2016
Banking Surcharge (Information) Regulations 2016, SI 2016/566

Amendments made by:
Scotland Act 2016
Immigration Act 2016
Lloyd's Underwriters (Roll-over Relief on Disposal of Assets of Ancillary Trust Fund) (Tax) Regulations 2016, SI 2016/597
Banking Surcharge (Information) Regulations 2016, SI 2016/566

NIC
The following has been added:
Scotland Act 2016

Amendments made by:
Social Security Administration Act 1992 (Local Authority Investigations) Regulations 2016, SI 2016/519
Immigration Act 2016

HMRC Briefs
The following HMRC Brief has been added:
Brief 12/16: Senior Accounting Officer guidance

Codes of Practice and Factsheets
The following Factsheets have been added:
CC/FS1f: Compliance checks into tax-advantaged share schemes
CC/FS27: Avoidance schemes - follower notices and accelerated payments for income tax and NICs through PAYE
CC/FS30a: Tax avoidance schemes - penalties for follower notices
CC/FS32: Employee tax-advantaged share schemes - penalty for material inaccuracy
CC/FS33: Employee tax-advantaged share schemes - penalties for not meeting approval conditions
The following Factsheets have been updated:
CC/FS17: Higher penalties for income tax and CGT involving offshore matters
CC/FS25a: Tax avoidance schemes - follower notices and accelerated payments (except partnerships)

Tax Credits
The following Codes of Practice has been updated:
COP26: Tax credits - what happens if we've paid you too much?

legislation
FA 2007, FA 2008, FA 2009, FA 2015 amended by:
Finance Act 2015, Schedule 20 (Appointed Days) Order 2016, SI 2016/456
FA 2004 amended by:
Income Tax (Construction Industry Scheme) (Amendment of Schedule 11 to the Finance Act 2004) Order 2016, SI 2016/404
F(No 2)A 2005 amended by:
F(No 2)A 2005 amended by:Pensions Act 2014 (Consequential and Supplementary Amendments) Order 2016, SI 2016/224
FA 2013 amended by:
Annual Tax on Enveloped Dwellings (Indexation of Annual Chargeable Amounts) Order 2016, SI 2016/401
Revenue Scotland and Tax Powers Act 2014 amended by:
Land and Buildings Transaction Tax (Amendment) (Scotland) Act 2016
Amendments made by:
Finance Act 2015, Schedule 20 (Appointed Days) Order 2016, SI 2016/456
Income Tax (Construction Industry Scheme) (Amendment of Schedule 11 to the Finance Act 2004) Order 2016, SI 2016/404
NIC
Amendments made by:
Pensions Act 2014 (Consequential and Supplementary Amendments) Order 2016, SI 2016/224
Social Security (Contributions) (Amendment) (No 2) Regulations 2016, SI 2016/352
Tax Credits
Amendments made by:
Tax Credits (Income Thresholds and Determination of Rates) (Amendment) Regulations 2016, SI 2016/393

HMRC Briefs
The following HMRC Briefs have been added:
Brief 5/2016 Tonnage tax - qualifying ships and flagging
Brief 8/2016 Release by HMRC of exporter information

Codes of Practice & Factsheets
The following Codes of Practice & Factsheets have been updated:
CC/FS1a: General information about compliance checks
CC/FS1b: General information about checks by compliance centres
CC/FS3: Compliance checks: visits by agreement or advance notice
CC/FS7a: Compliance checks: penalties for inaccuracies in returns or documents
CC/FS7b: Compliance checks: penalties for not telling HMRC about an under-assessment
CC/FS9: Compliance checks: The Human Rights Act and penalties
CC/FS10: Compliance checks: suspending penalties for careless inaccuracies in returns or documents
CC/FS13: Compliance checks: publishing details of deliberate defaulters
CC/FS14: Compliance checks: managing serious defaulters
CC/FS15: Compliance checks: Self Assessment and old penalty rules
CC/FS18a: Compliance checks: penalties if you don't file Income Tax, Capital Gains Tax and Annual Tax on Enveloped Dwellings returns on time
CC/FS18b: Compliance checks: penalties if you don't file Construction Industry Scheme returns on time
CC/FS21: Compliance checks: alternative dispute resolution
CC/FS22: Compliance checks: sending HM Revenue and Customs electronic records
CC/FS24: Compliance checks: tax avoidance schemes - accelerated payments
CC/FS28: Compliance checks: tax avoidance schemes - accelerated payments for Corporation Tax and group relief
CC/FS31: Penalties for contraventions of Alcohol Wholesaler Registration Scheme

HMRC Briefs
The following HMRC Briefs have been added:
Brief 2/2016 Deduction of income tax at source from peer-to-peer interest
Brief 6/2016 Registered dealers in controlled oil - plant and equipment hire companies

Guidance
The following guidance has been updated:
Annual Tax on Enveloped Dwellings - basic guidance

NIC
SI 2016/63 Employment Allowance (Increase of Maximum Amount) Regulations 2016
increase the amount of the employment allowance in NICA 2014 s 1(2)(a)
Amendments made by:
SI 2016/117 Social Security (Contributions) (Amendment) Regulations 2016

Legislation
Amendments made by:
SI 2015/2000 Scotland Act 2012, Section 25 (Appointed Years) Order 2015
SI 2016/16 Individual Savings Account (Amendment) Regulations 2016
SI 2016/74 Finance Act 2014, Schedule 9 (Consequential Amendment) Regulations 2016
SI 2016/99 Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations 2016
TCGA 1992, ITTOIA 2005 amended by:
SI 2016/16 Individual Savings Account (Amendment) Regulations 2016

Legislation
TA 1988, FA 2009, FA 2012 amended by:
SI 2015/1983 Lloyd's Underwriters (Transitional Equalisation Reserves) (Tax) Regulations 2015

TCGA 1992, FA 2002, CTA 2009 amended by:
SI 2015/1960 Exchange Gains and Losses (Bringing into Account Gains or Losses) (Amendment) Regulations 2015

TCGA 1992 amended by:
SI 2015/1790 Taxation of Chargeable Gains (Gilt-edged Securities) Order 2015

SA 1998, Scotland Act 2012, PCTA, TMA 1970, IA 1978, TCGA 1992, PRA 2002, ITEPA 2003, FA 2004, ITTOIA 2005, F(No 2)A 2005, ITA 2007, FA 2009, FA 2013, FA 2014, Wales Act 2014 amended by:
SI 2015/2000 Scotland Act 2012, Section 25 (Appointed Years) Order 2015

CAA 2001 amended by:
SI 2015/2047 Capital Allowances (Designated Assisted Areas) Order 2015

ITEPA 2003 amended by:
SI 2015/1979 Van Benefit and Car and Van Fuel Benefit Order 2015
SI 2015/1948 Income Tax (Approved Expenses) Regulations 2015

ITA 2007 amended by:
SI 2015/2051 Tax Relief for Social Investments (Accreditation of Social Impact Contractor) (Amendment) Regulations 2015

ITA 2007, FA 2015 amended by:
SI 2015/2035 Finance Act 2015, Section 23 (Appointed Day) Regulations 2015

CTA 2009 amended by:
SI 2015/1961 Loan Relationships and Derivative Contracts (Disregard and Bringing into Account of Profits and Losses) (Amendment) Regulations 2015
SI 2015/1962 Loan Relationships and Derivative Contracts (Change of Accounting Practice) (Amendment No 2) Regulations 2015
SI 2015/1963 Loan Relationships and Derivative Contracts (Exchange Gains and Losses using Fair Value Accounting) (Amendment) Regulations 2015

Small Charitable Donations Act 2012 amended by:
SI 2015/2027 Small Charitable Donations Act (Amendment) Order 2015

FA 2012 amended by:
SI 2015/1959 Insurance Companies (Amendment to Section 129 of, and Schedule 17 to, the Finance Act 2012) Regulations 2015

F(No 2)A 2015 amended by:
SI 2015/1986 Enforcement by Deduction from Accounts (Prescribed Information) Regulations 2015
SI 2016/44 Enforcement by Deduction from Accounts (Imposition of Charges by Deposit-takers) Regulations 2016

Amendments made by:
SI 2015/1999 Finance Act 2012, Sections 26 and 30 (Abolition of Relief for Equalisation Reserves) (Specified Day) Order 2015
SI 2015/1960 Exchange Gains and Losses (Bringing into Account Gains or Losses) (Amendment) Regulations 2015
SI 2015/1790 Taxation of Chargeable Gains (Gilt-edged Securities) Order 2015
SI 2015/2047 Capital Allowances (Designated Assisted Areas) Order 2015
SI 2015/1948 Income Tax (Approved Expenses) Regulations 2015
SI 2015/2051 Tax Relief for Social Investments (Accreditation of Social Impact Contractor) (Amendment) Regulations 2015
SI 2015/1961 Loan Relationships and Derivative Contracts (Disregard and Bringing into Account of Profits and Losses) (Amendment) Regulations 2015
SI 2015/1962 Loan Relationships and Derivative Contracts (Change of Accounting Practice) (Amendment No 2) Regulations 2015
SI 2015/1963 Loan Relationships and Derivative Contracts (Exchange Gains and Losses using Fair Value Accounting) (Amendment) Regulations 2015
SI 2015/1959 Insurance Companies (Amendment to Section 129 of, and Schedule 17 to, the Finance Act 2012) Regulations 2015
SI 2015/1986 Enforcement by Deduction from Accounts (Prescribed Information) Regulations 2015
SI 2015/2053 Unauthorised Unit Trusts (Tax) (Amendment No. 2) Regulations 2015
SI 2015/2056 Taxation of Regulatory Capital Securities (Amendment) Regulations 2015
SI 2016/44 Enforcement by Deduction from Accounts (Imposition of Charges by Deposit-takers) Regulations 2016

NIC
Amendments made by:
SI 2015/1985 Pensions Act 2014 (Consequential, Supplementary and Incidental Amendments) Order 2015
SI 2015/2058 Pensions Act 2014 (Commencement No.7) and (Savings) (Amendment) Order 2015

Amendments made by:
SI 2015/1985 Pensions Act 2014 (Consequential, Supplementary and Incidental Amendments) Order 2015

30 October 2015

Statements of Practice
Statement of Practice D12: Partnerships has been updated

RDR1
RDR1 has been updated to reflect the changes made in September 2015

Codes of Practice and Factsheets
The following have been updated:
CC/FS24: Tax avoidance schemes - accelerated payments
CC/FS25a: Tax avoidance schemes - follower notices and accelerated payments (except partnerships)
The following Code of Practice has been added:
CC/FS28: Tax avoidance schemes - accelerated payments for corporation tax and group relief

HMRC Briefs
The following HMRC Briefs have been added:
HMRC Brief 15/2015: HMRC response to the Supreme Court decision in Anson
HMRC Brief 16/2015: Update on remittance basis treatment of loan collateral

ATED
The Annual Tax on Enveloped Dwellings - basic guidance has been updated

Legislation
CTA 2009, FA 2014, FA 2015 amended by:
SI 2015/1741 Finance Act 2015, Section 29 (Film Tax Relief) (Specified Day) Regulations 2015

11 September 2015

Legislation
Amendments made by:
SI 2015/1607 Tonnage Tax (Training Requirement) (Amendment) (No 2) Regulations 2015
SI 2015/1667 Income Tax (Pay As You Earn) (Amendment No 3) Regulations 2015

Contributors

Anne Redston , MA(Oxon), FCA, FTII Consultant editor