The Government has published two consultation documents with the stated aim of supporting innovation and productivity in the UK.
The Public Bill Committee completed its consideration of the Finance Bill on 9 June:
The Public Bill Committee resumed its consideration of the Finance Bill on 7 June.
HM Treasury is recruiting a permanent Chairman and Tax Director for the Office of Tax Simplification. Michael Jack and John Whiting were appointed to lead the OTS on a temporary basis when it was established last year.
HMRC have published draft, updated guidance, together with minutes of the 4 April meeting of the Research & Development Consultative Committee.
The Public Bill Committee on the Finance Bill will meet again on 7 June, when it is expected to consider clause 46 and Sch 11 (pre-entry losses).
HMRC have invited comments by 31 August 2011 on:
The government is seeking views on the impact on individuals and businesses of removing 36 tax reliefs.
The Public Bill Committee agreed government amendments to Schedule 8 (reduction in childcare relief for higher earners) and Schedule 10 (company ceasing to be a member of a group) on 24 May.
The following provisions were passed without amendment:
Tax specialists are divided over how the coalition government’s tax policies compare to those of its predecessor, a recent Tax Journal survey suggests.