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As an example of the information that LMSC subscribers receive we have listed 3 sample articles, chosen at random, from our recent archive.

Finance Bill 2005

Finance Bill 2005 was published on Thursday 26 May. The Bill reintroduces legislation announced in Budget 2005 that was not enacted by Finance Act 2005.

The Government has responded to representations made since 24 March by making a number of changes to legislation in the Bill as introduced. Commons Second Reading will take place on Tuesday 7 June.

Article information

  • Date: 28 May 2005 (Posted: 28 May 2005)

Of additional interest:

Gift Aid Small Donations Scheme: HMRC consultation

HMRC has issued its consultation document on the detail of the Gift Aid Small Donations Scheme.

On a quick first reading, the document envisages a Scheme there is a split between collections in community buildings and collections for “core” activities. The basic structure appears to be that each local group operating in a community building (eg a local church) will be entitled to claim under the Scheme on up to £5,000 on loose collections, while the “parent” charity will be entitled to claim on a “core” maximum limit of up to £5,000. Donations made at local group activities held for non-charitable purposes, including fund-raising, or outside the “community building” will not eligible for a top-up payment under the GASDS; however, the small donations relating to the parent charity’s “core” limit of up to £5,000 may be collected anywhere, for example through local street collections or in collection boxes or at fund raising events.

The scheme is currently at the proposal stage, and the Government will further before finalising it for FY 2013/14 financial year. Because it is expenditure rather than tax foregone it will be the subject of free-standing legislation – which is why it is not included in the current Finance Bill. The closing date for comments on the consultation is 25 May 2012.

We shall look at the document very carefully and, if necessary, update this post.

Article information

  • Date: 30 April 2012 (Posted: 30 April 2012)

Of additional interest:

    Scottish Government response to Barclay Review

    The Scottish Government has published a statement by Scottish Finance Secretary Derek Mackay regarding its response to the Barclay Review of non-domestic rates in Scotland.

    While the majority of the recommendations are going to be taken forward – including four which were recently announced by the First Minister in the 2017-18 Programme for Government – the crucial section of recommendations on removing charity relief for certain recipients (including ALEOs, independent schools and accommodation by universities) “merits further thought and engagement”.

    The Finance Secretary has stated that the Government will aim to fully understand the impact of each of these areas individually, as well as any wider implications and possible unintended consequences, before outlining his position in an implementation plan due to be published later this year.

    A few other points may be of interest:

    • The Government accepts the Barclay proposal that relief for new occupation of property should increase from 50% to 100% for the first year of new occupation and should be available after a property has been empty for 6 months rather than the current 12. Indeed, it intends to go further still and make relief available for all types of property, including industrial property
    • From 1 April 2018 the Government will ensure that every new build property pays no business rates until it is occupied for the first time, after which a tenant will then benefit from 1 year without rates
    • The Government agrees with the Barclay review that transparency over how relief is awarded will also help improve understanding and accepts recommendations to publish data on which properties are in receipt of relief
    • The Government accepts recommendations to create new civil penalties
    • The Government agrees that the appeal system should allow rateable values to be corrected upwards as well as downwards from 2022, when the system moves into Tribunals Scotland

    Article information

    • Date: 13 September 2017 (Posted: 13 September 2017)

    Of additional interest:

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