Consultations

Tax / Regulating advisers will reduce R&D tax relief abuse

As HMRC concludes consultation on the abuse of research & development tax relief at the end of August, ABGI-UK’s Scott Henderson calls for the regulation of advisers at a time when the UK needs to be globally competitive

Tax / Finance Bill 2020-21: legislation and consultations announced

On 21 July, the government released draft legislation for this year's Finance Bill, plus details of the consultations first trailed at the Spring Budget, Accountancy Daily has consolidated these announcements with full details below

Tax / HMRC looks at modernising stamp taxes on shares

The tax office has issued a call for evidence on the principles, priorities and design of a new framework for stamp duty and stamp duty reserve tax (SDRT), as a first stage in plans to modernise and digitise the regime for handling stamp taxes on shares

Tax / Consultation on expanding qualifying expenditure for R&D tax relief

The government is consulting on the scope of qualifying expenditures for R&D tax credits, focusing particularly on whether expenditures on data and cloud computing ought to qualify for relief

Tax / Plans for NICs holiday for military veterans’ first civilian job

The government is consulting on plans for a National Insurance contributions (NICs) holiday for Armed Forces veterans who take up civilian jobs, first announced at Spring Budget 2020

Tax / Consultation on possible new carbon emissions tax

The government is consulting on the operation of the new carbon emissions tax that could be introduced after the end of the Brexit transition period, in the event no linked UK Emissions Trading System (UK ETS) is agreed with the EU

Tax / Treasury consults on pensions tax relief administration

The Treasury is consulting on how to plug a loophole in the way pensions tax relief operates, which means around 1.75m lower paid workers saving in a pension may end up in differing financial positions depending on how their scheme is administered

Tax / ‘Fundamental’ overhaul of business rates in view

The government has announced a call for evidence for the fundamental review of the business rates system, seeking views on issues to be addressed, ideas for change and alternatives which could include an online sales tax

Tax / Covid-19: consultation on taxation of coronavirus support grants

HMRC is holding a two-week consultation on the technical effectiveness of legislation to introduce rules on the taxation of coronavirus business support grants, which will be included in Finance Bill 2020

Tax / Covid-19: tax consultation deadlines extended

HMRC and the Treasury have set out revised timelines for tax policy consultations and other work in the light of the current Covid-19 crisis, in order to allow more time for feedback, but say that all planned reforms will still go ahead

Tax / Covid-19: FCA consults on three-month loan and credit card payment freeze

The Financial Conduct Authority (FCA) has launched an emergency four-day consultation on plans for temporary measures to help consumers manage their credit in the face of the financial impact of the coronavirus epidemic

Tax / HMRC consults on tax impact of LIBOR reform

HMRC has set out its views on the main tax impacts for businesses as a result of reforms to the London Inter-bank Offered Rate (LIBOR) and other benchmark rates

Tax / HMRC wants large businesses to notify if tax arrangements legally questionable

HMRC is consulting on proposals, first advanced in the Budget, that the UK’s largest businesses will be required to notify HMRC where they have adopted an uncertain tax treatment, in a bid to close the £6.2bn legal interpretation tax gap

Tax / Budget 2020: post-Brexit duty-free limits up for review

The government plans to consult on the duty-free limits of alcohol and cigarettes available to airline and ship passengers in a post-Brexit world 

Tax / HMRC issues draft rules for loan charge repayments

HMRC has published details of proposed legislation for setting up a scheme to administer refunds to taxpayers who made voluntary payments prior to a change in the rules regarding the loan charge
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