Section 887 of the Income Tax Act 2007 requires registered societies (co-operative societies and community benefit societies) to make annual returns to HM Revenue and Customs (HMRC) of any payments of interest, dividends, bonuses or other sums. The return must be made within 3 months after the end of the society’s accounting period.
The guidance starts off in a promising and professional manner, unfortunately it then rather falls apart:
"We’ll only except files in this format."Does no one proof read these things before publication?
This does not give one a feeling a of confidence in the professionalism and competence of HMRC.
Tax does have to be taxing.
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