Government confirms intentions to publish various tax consultations and calls for evidence on 23 March 2021
18 February 2021
Traditionally, documents and consultations would normally be published alongside the Budget, which is due to be unveiled on 3 March 2021. This year, however, things will be slightly different, as HM Treasury has confirmed that it won’t release some of these items until later on in the month, on 23 March 2021.
This approach has been taken to allow for more transparency and scrutiny according to a recent news story, and will give tax professionals a better opportunity to provide feedback on consultations and policy discussions, which in turn, will strengthen policy-making.
It has been confirmed that none of the announcements will require legislation in the next Finance Bill, nor will they have an effect on the government’s finances.
At this point, it has been revealed that a number of the consultations will form part of the government’s ten-year tax administration strategy, which has the ultimate aim of reorganising the tax system so that it is suitable for the challenges and opportunities posed by the 21st century.
Jesse Norman, Financial Secretary to the Treasury, commented:
“We are making these announcements separately to the Budget, but still all on a single day, in order to give a range of important but less high profile measures greater visibility among Members of Parliament, tax professionals and other stakeholders, and greater scope for scrutiny by them.”
Any announcements which do impact the government’s finances or are required to be recorded in the Office for Budget Responsibility’s (OBR) economic and fiscal outlook will be included on Budget day in the traditional way. This also extends to measures that will need to be legislated for in the Finance Bill.
The CIPP regularly responds to consultations and calls for evidence that relate to policies that will impact the work of payroll professionals. Keep your eyes peeled for invites to surveys and to virtual roundtable meetings to have your say and input into the consultation responses that the CIPP sends out to various government departments, and to ultimately impact payroll policies of the future.
Information provided in this news article may be subject to change. Please make note of the date of publication to ensure that you are viewing up to date information.