Option to Tax – changes to legislation

HMRC have published guidance on changes to the rules applying to the option to tax. The new rules come into effect on 1 June 2008 – subject to the legislation being accepted by Parliament. The legislation, a Statutory Instrument, was laid before Parliament yesterday, Tuesday April 22, 2008.

The guidance was contained in a Revenue & Customs Brief, 24/08, and an Information Sheet, 3/08. The information sheet has a 50 page annex containing the detailed guidance on the new rules. You can find copies of the Revenue & Customs Brief and Information Sheet on HMRC’s website.

Be Sociable, Share!

• 

 

Related posts:

1. VAT Tribunals – reform legislation published
2. VAT Notes 4 issued by HMRC
3. The Budget 2008 – an overview of the VAT changes
4. Would HMRC have broken the law?
5. Are you renovating residential properties?