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Business groups welcome ‘tax day’ consultations
Business groups have welcomed the raft of tax documents and consultations announced by the Government yesterday (23 March) to help create a more “modern and trusted” tax system.
As part of ‘tax day’, the Treasury announced 30 tax updates, consultations and documents which include plans for tighter tax rules on second properties and simplify inheritance tax red tape.
Other consultations released include guidance on clamping down on tax avoidance, timely payments and Making Tax Digital.
The Association of Taxation Technicians (ATT) welcomed the “sensible” move to issue tax-related consultations on a different day to the “often frantic Budget Day announcements”.
Jeremy Coker, president of the ATT, said:
“The purpose of consultations and calls for evidence is to ensure that future policy decisions are made with the benefit of informed input from a wide range of perspectives.”
Anita Monteith, tax faculty technical manager at the Institute of Chartered Accountants in England and Wales, added:
“Tax consultations were often lost in the crowd of announcements on Budget Day, so the move to publish them separately will give the proposals more focus and emphasise the government’s commitment to sincere and open discussions on the future of tax.”
John Cullinane, director of public policy for the Chartered Institute of Taxation, concluded:
“Early and open consultation, seeking views and ideas as widely as possible at the earliest possible stage of policy development, leads to better tax law, which is in the interests of both taxpayers and their advisers, and the tax authority.
“We look forward to responding to the consultations launched today and encourage others to do likewise.”
Speak to us for more information on the announcements.