The Commons Treasury Committee has accused the chancellor of delaying introduction of the 30-day payment window for CGT on disposals of residential property to help the government meet its fiscal rule deadline in 2020/21.
A cross-party group of MPs has tabled a new clause for report stage of the Finance Bill, which would extend the IHT exemption for gifts to political parties to similar gifts made to referendum campaigns.
The members’ explanatory statement for the new clause reads as follows:
The Lords committee responsible for monitoring parliamentary scrutiny of legislation has called for more rigorous examination of regulation-making powers and the use of public notices in the Taxation (Cross-border Trade) Bill.
The CIOT has prepared a checklist summarising the new penalties applying to tax avoidance and offshore tax evasion and non-compliance, as introduced over recent years in Finance Acts and the Criminal Finances Act 2017.
HMRC has published the following:
Invalid discovery assessments
Were bonds QCBs?
Were loan notes restricted securities?
Managed service companies and MSC providers
The public accounts committee (PAC) believes HMRC has over-estimated its capacity to deal with reducing the tax gap, while maintaining acceptable customer service levels, in the face of its own digital and organisational transformation programmes and the effects of Brexit.