Last week, the UK Government published draft Finance Bill 2022/23 clauses, which will underpin Finance Act 2023, together with accompanying explanatory notes, tax information and impact notes, consultation responses and other supporting documents. As recommended by the Institute in its response to the “Call for evidence: Income Tax Self Assessment registration for the self-employed and landlords”, no change is being made to the date of registration for self-employment. Changes were also announced to the UK’s R&D tax relief regimes which take effect from April 2023.
Last week’s announcements largely build on policies announced at Autumn Budget 2021 and last year’s Tax Administration and Maintenance Day.
Two new consultation documents were published including one seeking views on “Improving the data HMRC collects from its customers” which closes on 12 October 2022. This proposes a number of potential options for improving the range of data HMRC collects. The consultation sets out six core new data options.
The Institute was made aware of this project at a HMRC forum meeting last week and highlighted the need for HMRC to use its existing data sources more effectively before seeking new ones. The Institute also raised concerns in respect of data protection and taxpayer confidentiality.
Last week’s legislation day also included the publication of responses to the following consultations:-
The final two summary of responses set out above were published alongside draft legislation which was published for a number of potential Finance Bill 2022/23 measures. In respect of the draft legislation to implement Pillar Two in the UK, HMRC is consulting on the draft legislation until 14 September 2022.
Associated publications available on GOV.UK are as follows:-