News story: ‘People with Significant Control’ Companies House register goes live

The People with Significant Control (PSC) register includes information about the individuals who own or control companies including their name, month and year of birth, nationality, and details of their interest in the company.

From 30 June 2016, UK companies (except listed companies) and limited liability partnerships (LLPs) need to declare this information when issuing their annual confirmation statement to Companies House.

A person of significant control is someone that holds more than 25% of shares or voting rights in a company, has the right to appoint or remove the majority of the board of directors or otherwise exercises significant influence or control. This information will form a central public register of people with significant control, which is free to access.

The Prime Minister first put corporate transparency on the international agenda when he chaired the G8 summit in Lough Erne and secured commitment to action, the commitment to enhance corporate transparency in the UK was reaffirmed at London’s International Anti-Corruption Summit in May 2016. Since then the EU and G20 countries have also agreed to act. The UK is the first country in the G20 to create a public register of this kind.

The UK has high standards of business behaviour and corporate governance. The overwhelming majority of UK companies contribute productively to the UK economy, abide by the law and make a valuable contribution to society. But there are exceptions.

Some of the features of the company structure which make it good for business also make it attractive to criminals. Companies can be misused to facilitate a range of criminal activities – from money laundering to tax evasion, corruption to terrorist financing. Sometimes those individuals running companies will not conduct themselves in accordance with the high standards we expect in the UK, posing a risk to other companies and consumers alike.

Information about the ownership and control of UK corporate entities will bring benefits for law enforcement, business, civil society and citizens. By making this information publicly available, free of charge, the government is setting a standard that we are persuading other countries to follow.

Source: Gov.uk

National Statistics: Commentary: benefits in kind statistics

Updated: Updated tables to reflect data for 2014 to 2015.

The statistics show the number of recipients, the taxable value of the benefits and the tax and National Insurance Contribution (NIC) liabilities on them. The main year covered in this update is 2014 to 2015 but there are also comparisons over time for the period 2007 to 2016.

Source: HMRC

International treaty: Uruguay: tax treaties

Updated: Tax Information Exchange Agreement with Uruguay/UK has been added.

2016 Uruguay – UK tax treaty: double taxation convention

The double taxation convention was signed on 24 February 2016 and entered into force on 14 November 2016.

The convention takes effect for:

a) taxes withheld at source, for amounts paid or credited on or after 1 January 2017

b) other taxes, for taxable periods (and in the case of UK Corporation Tax, financial years) beginning on or after the 1 January 2017

Notwithstanding the provisions in a) and b) above, the provisions of:

a) Article 21 (Capital) of this convention shall not take effect unless the Contracting States so agree through an exchange of diplomatic notes

b) Article 25 (Mutual agreement procedure) and Article 26 (Exchange of information) effective from 14 November 2016, without regard to the taxable period to which the matter relates

Tax Information Exchange Agreements

Tax Information Exchange Agreement: Uruguay – exchange of information

The UK-Uruguay Tax Information Exchange Agreement (TIEA) was signed in London on 14 October 2013. It entered into force on 20 October 2016 and has effect in both countries for:

  • criminal matters on 20 October 2016

  • all other matters covered in Article 1, on 20 October 2016, but only in respect of taxable periods beginning on or after that date, or where there is no taxable period, all charges to tax arising on or after that date

Source: HMRC

Form: Alcohol duties: application for a licence as a wine or made-wine producer or commercial grower (WMW1)

Updated: The online form service has been updated to include an attachment function.

You can either:

  • use the online form service (sign in to, or set up a Government Gateway account)
  • fill in the form on-screen, print and post it to HM Revenue and Customs

If you use the online form, you’ll get a reference number that you can use to track the progress of your form.

Form WMW1 should be used to apply for a licence where you’re:

  • intending to produce wine or made-wine for sale
  • a commercial grower wishing to receive wine, produced by a licensed producer for you, in duty suspense

Producers: what to include

You must submit a detailed site plan in addition to form WMW1 showing:

  • the position and description of the rooms, vessels, plant or equipment you intend to use in the production of wine or made-wine
  • where the wine or made-wine is to be stored

You can submit your detailed site plan by attaching it to the online form. The plan should be no more than 5MB in PDF or JPEG format.

Alternatively, you can submit your application and site plan by post to:

HM Revenue and Customs

Excise Processing Teams

BX9 1GL

Commercial growers: what to include

You only have to include a plan of where the wine is to be stored.

Before you start using the postal form

If you’re using the postal form and your browser is an older one, for example, Internet Explorer 8, you’ll need to update it or use a different browser. Find out more about browsers.

You’ll need to fill in the form fully before you can print it. You can’t save a partly completed form so gather all your information together before you start to fill it in.

Excise Notice 163: wine production

Source: HMRC

News story: Webinars, e-learning, videos and other help for landlords

Updated: Updates made to times and dates of webinars.

E-learning

Read the Letting out a property online guide if you want to let out a property to a tenant and become a landlord.

Videos

YouTube videos on Self-Assessment help and deadlines

HMRC Property Rental Toolkit

The toolkit provides guidance on errors that HMRC often sees in returns and explains how to avoid them.
Download the Property Rental Toolkit (2015 to 2016).

Webinars

Webinars can last up to an hour. You can ask questions during the presentation and get answers from your HMRC host.

Register and log in at least 5 minutes before a live webinar is due to start.

You can watch recorded webinars at any time but you’ll need to register first.

Income from property for individuals

This will help new landlords and those considering becoming landlords understand what they need to do for HMRC. It covers registration, record-keeping and schemes such as Rent a Room.

Live webinars:

Watch this webinar recorded in December 2016.

Help and advice

Check to make sure you have a compatible computer or mobile device to watch webinars.

Search for help if you have technical problems with webinars.

Contact HMRC online for other webinar help.

Source: HMRC