‘Tax Day’ – a number of tax-related consultations and calls for evidence published
23 March 2021
Prior to the delivery of the Budget 2021, it was confirmed that, on 23 March 2021, a variety of consultations and calls for evidence that centred on the future of the tax system would be published.
The documents have been released, with a summary here, and, as promised, focus on a range of tax administration and tax policy areas. The ultimate ambition is to create a more trusted and modern tax system, which works more closely to real time.
The next steps in the Government’s tax administration strategy, initially introduced in July 2020, have been confirmed, and there are also policy announcements and updates which will work to make wider improvements to the tax system, with a focus on clamping down on non-compliance and simplifying the system as a whole.
There are consultations and calls for evidence that discuss targeting and stopping the promoters of tax avoidance schemes, looking into the suitability of the current timing and frequency of tax payments, and an area which could have huge impacts, exploring the possibility of whether tax advisers should be required to hold Professional Indemnity Insurance (PII). This particular consultation also looks to establish a concrete definition of what tax advice is, which could potentially include the guidance provided by payroll professionals.
The CIPP’s Policy team will be reviewing the documents published on ‘Tax Day’, and responding to those consultations and calls for evidence that could potentially impact on the work of payroll professionals. Watch this space for surveys and invites to virtual roundtable thinktank meetings, in which you will have the opportunity to give your feedback and have your say on future policy.
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