Specialist Tax Regulatory Materials
HMRC has updated a page in its Uncertain Tax Treatment by Large Businesses manual by giving the force of law to updated guidance that details the content of a notification. New guidance has also been published on notifying HMRC about an uncertain amount of corporation tax, income tax (including PAYE) or VAT.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Self assessment 鈥� estimates and provisional figuresIf the taxpayer does not have sufficient information to enable them to complete the tax return in the time allowed, they should include either a best estimate or a provisional figure. The taxpayer should not either leave a box blank or enter
Gilts鈥楪ilts鈥� are securities that are also known by a number of different names (eg gilt-edged securities, Government securities or treasury stock).The Government sells gilts to fund the deficit between public spending and tax receipts. Normally, the Government pays interest to the holder of the gilt
Interest on late paid taxIntroductionInterest on late paid tax is a compulsory charge set out in legislation to reflect the interest which would have accrued to the Exchequer had the correct amount of tax been paid at the right time.Harmonised legislation was introduced in 2009 to:鈥et statutory
