Spring 2008 Newsletter Content Winter Of Discontent CGT Winners CGT Losers Shifty Business Anything To Declare? Long Arm Of The Law Irreplaceable You Earn As You Pay Ask Questions Later Capital Ideas ISA ISA ISA Referee! Go Green VAT Or No VAT? Taking The Register Close Encounters May Contain Nuts Going Concern Ancient History Business And Pleasure Do Your Duty Know Your Rights Time To Go? Passing The Buck

Ask Questions Later At the moment, if HMRC want to ask you a question about your tax return, they have to start their enquiry within 12 months of the due filing date. It makes no difference whether you filed your 2006/07 return on 10 April 2007 or on 31 January 2008, they get until 31 January 2009 to decide whether they want to poke and pry. This is changing for the better - for 2008/09 personal returns, and company returns for periods ending after 31 March 2008, they get 12 months from the day they receive the return. At last there is a real advantage in filing early (apart from making your accountant's life easier). At the same time, they are bringing forward the last filing date for paper returns to 31 October - there's a stick as well as a carrot. Returns for 2007/08 can still be filed over the internet up to 31 January 2009, but a paper return after Halloween will be penalised.