Business Tax: Rewrite project closes
The Tax Law Rewrite project closed on 31 March. The three most recent Acts — CTA 2009 CTA 2010 and Taxation (International and Other Provisions) Act 2010 (TIOPA 2010) — complete the rewrite of the main direct tax legislation. 'Each of these Acts contains time limited powers to make corrections. To ensure that these powers are exercised in accordance with arrangements agreed during the lifetime of the project the external committees which have overseen the work of the project will as before review all proposals made by HMRC to use the powers ' HMRC said. Revenue & Customs Brief 04/10 sets out the structure of CTA 2010 and TIOPA 2010.
