Last week’s Tax Administration and Maintenance Day on Thursday 27 April focused on the actions that the UK Government is taking to simplify the tax system, tackle the tax gap and modernise the tax system. Below we take a look at the key announcements made as set out by the Financial Secretary to the Treasury’s Written Ministerial Statement to Parliament.
Simplification and modernisation
A consultation was launched on proposals to modernise and digitise the framework for Stamp Taxes on Shares. This consultation seeks views on proposals to ensure that any new framework will meet its objectives for a simple, clear and efficient tax system. It builds on a call for evidence carried out in 2020.
The Government is also publishing a further two consultations under this programme of work covering information and data and legislative approach to supporting pilots in the tax system.
Further announcements were as follows:-
Tackling the tax gap
As announced at Spring Budget, the Government is publishing a consultation on both the introduction of a new criminal offence for promoters of tax avoidance and expediting the disqualification of directors of companies involved in promoting tax avoidance.
Further announcements were as follows:-
Further tax policy and administration announcements
The Government will consult on allowing a mass balance approach for calculating the proportion of recycled content in chemically recycled plastics, for the purposes of the Plastic Packaging Tax. The consultation will be launched later this year.
Further announcements were as follows:-