19 October 2023

Following on from the Treasury Committee’s report on tax reliefs, released on 26 July 2023, the government response to the report has been published.

The financial secretary to the Treasury, Victoria Atkins MP, writes:

“A full review of all tax reliefs would impose significant uncertainty on the tax system, putting revenue at risk and altering business behaviour whilst they waited for such a review to conclude.”

“Costing all tax reliefs is not possible without collecting significant additional data from taxpayers — putting considerable further administrative burdens on them and limiting our overall simplification and admin burden reduction efforts.”

And;

“Any regular time-based assessment of whether reliefs should continue to exist creates inherent instability and uncertainty in the latter years of that cycle for all taxpayers claiming or considering claiming a relief.”

Atkins agrees with he committee’s intentions, however, does not agree that the proposed solutions are the best use of resources. Do you agree that five-yearly reviews would create uncertainty with you approach to using available tax reliefs?


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