The House of Commons Treasury committee has launched a wide-ranging inquiry on VAT, while the Treasury sub-committee is to hold two inquiries, one on tax avoidance and evasion, and the other covering HMRC’s conduct of tax disputes. The deadline for written submissions on all three inquiries is Thursday 31 May.
the tax gap, which amounted to £12.6bn of VAT in 2015/16;
Brexit opportunities and challenges;
burdens on business; and
good tax policy, and how VAT measures up against these principles.
The first sub-committee inquiry into tax avoidance and evasion (https://bit.ly/2Gy4DyQ) will scrutinise the steps that HMRC has taken to address public concerns about tax lost through the actions of individuals and businesses. It will also take in the Crown dependencies and overseas territories.
The second sub-committee inquiry will concentrate on the conduct of tax enquiries and the resolution of tax disputes (https://bit.ly/2ump4K1). This will look at HMRC’s governance processes, including such matters as ‘sweetheart deals’ and whether HMRC gives preferential treatment to big business.
Treasury committee chair, Nicky Morgan, commented: ‘the reasons for why VAT is so vulnerable are somewhat opaque, so the Committee will examine how this might be addressed’. The committee will also explore, ‘what impact Brexit will have on HMRC’s efforts to reduce the VAT element of the tax gap’, she said.
Welcoming the inquiries, John Cullinane, CIOT tax policy director, sees them as: ‘an opportunity for HMRC, the government, and other stakeholders such as professional bodies, to take stock and renew their efforts to work towards a more efficient and less complex tax system in which the public can have greater understanding and confidence’.
The House of Commons Treasury committee has launched a wide-ranging inquiry on VAT, while the Treasury sub-committee is to hold two inquiries, one on tax avoidance and evasion, and the other covering HMRC’s conduct of tax disputes. The deadline for written submissions on all three inquiries is Thursday 31 May.
the tax gap, which amounted to £12.6bn of VAT in 2015/16;
Brexit opportunities and challenges;
burdens on business; and
good tax policy, and how VAT measures up against these principles.
The first sub-committee inquiry into tax avoidance and evasion (https://bit.ly/2Gy4DyQ) will scrutinise the steps that HMRC has taken to address public concerns about tax lost through the actions of individuals and businesses. It will also take in the Crown dependencies and overseas territories.
The second sub-committee inquiry will concentrate on the conduct of tax enquiries and the resolution of tax disputes (https://bit.ly/2ump4K1). This will look at HMRC’s governance processes, including such matters as ‘sweetheart deals’ and whether HMRC gives preferential treatment to big business.
Treasury committee chair, Nicky Morgan, commented: ‘the reasons for why VAT is so vulnerable are somewhat opaque, so the Committee will examine how this might be addressed’. The committee will also explore, ‘what impact Brexit will have on HMRC’s efforts to reduce the VAT element of the tax gap’, she said.
Welcoming the inquiries, John Cullinane, CIOT tax policy director, sees them as: ‘an opportunity for HMRC, the government, and other stakeholders such as professional bodies, to take stock and renew their efforts to work towards a more efficient and less complex tax system in which the public can have greater understanding and confidence’.
