Action required by those holding certificates of tax deposit
[ad_1] Certificates need to be used by 23 November 2023. The value on HMRC’s books is £89m. The deadline for using a certificate of tax deposit (CTD) to settle a tax bill is 23 November 2023. After that date, the normal process for making a withdrawal will apply. The current value of outstanding CTDs […]
Scotland’s deposit return scheme delayed
[ad_1] The scheme that was due to commence in August will now be introduced on 1 March 2024. In a statement on 18 April, Scotland’s First Minister Humza Yousaf confirmed that Scotland’s deposit return scheme would be delayed to 1 March 2024. The additional time would be used to work with businesses to address concerns […]
VAT provisions for drink deposit return schemes
[ad_1] Government publishes draft legislation detailing how VAT will be accounted for under statutory deposit schemes. With Scotland’s deposit return scheme being launched on 16 August 2023, the UK government has asked for feedback on its proposals for the VAT treatment of these schemes. Under the proposals, the deposit amount will be excluded from the […]
HMRC issues certificate of tax deposit reminders
[ad_1] HMRC has been issuing letters to remind taxpayers to use certificates of tax deposit (CTD) before the scheme closes on 23 November 2023. HMRC has been issuing letters to remind taxpayers to use certificates of tax deposit (CTD) before the scheme closes on 23 November 2023. The CTD scheme historically allowed taxpayers to deposit […]