Summary of current tax consultations
HMRC have published a comprehensive list of tax consultations that were announced following the recent June Budget. Also published on 22 June was a document promising a new approach to the making of tax policy. In particular this anticipates that draft legislation will generally be available for consultation 3 months before it is to become law.
The list of forthcoming consultations includes details of the expected launch date of each one, the nature of the consultation, the lead department (usually HMRC, HM Treasury or joint), a description of the consultation and the title.
We have listed of all the consultations below.
- Reform of the Controlled Foreign Company regime
- Taxation of foreign branches
- Intellectual property/ R&D tax credits/Dyson Review
- Bank levy
- PAYE improvement
- Furnished holiday lettings (FHL)
- Pensions tax relief
- Annuitisation at age 75
- VAT and shared services
- Alcohol taxation
- Lottery taxation
- Carbon price support
- Financial Securities for PAYE and NICs
- Inheritance Tax avoidance
- Substantial donors to charities rules
- General Anti-Avoidance Rule
- Financial Products Avoidance: Group Mismatches
- Loan relationships
- Tax policy making
Other planned consultations included in the list but which were not announced at June 2010 Budget
- County Court costs
- Employment-related securities and geared growth
The full details of each consultation can be accessed on the HMRC website at the following address:http://www.hmrc.gov.uk/consultations/cons-announced-budget-june2010.pdf