Welcome to this edition of Tax Voice, a monthly round-up of the most important tax news.
Top stories
CFCs: all out unless in?
The CFC reform process, which is approaching its seventh anniversary, is coming to a reasonably happy conclusion. The approach, albeit indirect, is to define those cases where the CFC rules should apply.
Employers: Ignore auto-enrolment at your peril
Employers from plcs to parents employing nannies will be affected by new pension scheme rules. From October, starting with the largest employers, employers must set up pension schemes or be included in the state scheme. Employees are automatically included unless they opt-out.
Charity retail gift aid schemes – watch out for the VAT
As charities move away from the business model of selling donated goods to generating income using gift aid schemes, the VAT consequences should not be overlooked.
Other news
Striking off tax concession ends soon
Concerns have been raised over new legislation that is due to come into force from 1 March 2012 that changes the tax treatment of many distributions on the dissolution of companies.
Leavers face Pay as you Go on share options
Sometimes, employees who leave a job can still exercise share options from that job for months after they leave. HMRC is changing how any profits are taxed, charging more tax up-front from 6 April 2012.
VAT rate cut to stimulate growth?
Would a reduction in the VAT rate create employment opportunities by stimulating demand through lower prices? Many are campaigning for such a change.
Are there risks for charities who want to go green?
A recent Court of Appeal decision may give rise to opportunities for some to benefit from existing generous solar subsidy rates. However, charities in particular may be vulnerable to tax on related feed-in tariff income.