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Budget consultations.. have I missed them?

Supposed to have been distributed today

Didn't find your answer?

Today was supposed to be Budget Tax day 23.03.2021-when we were going to be bombarded with consultations following the Budget.

Have I missed them or are they hiding somewhere?

https://www.gov.uk/government/news/government-to-publish-range-of-tax-co...

Replies (17)

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Jennifer Adams
By Jennifer Adams
23rd Mar 2021 19:11

Thx NotAnonymous... yes... just found them!

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By Hugo Fair
23rd Mar 2021 19:34

Thanks. Of course not much detail is provided (these are nominally consultations after all), but there are some hefty hints as to the direction of travel:

1.6 Timely Payment
The government is publishing a call for evidence to begin to explore the opportunities and challenges of more frequent payment of income tax within Income Tax Self Assessment, and of corporation tax for small companies, based on in-year information.

1.7 Raising standards in the tax advice market
The government is publishing a consultation on raising standards in the tax advice market. This will seek views on the definition of tax advice and a requirement to make professional indemnity insurance compulsory for all tax advisers, with a view to improving tax advice and providing taxpayers with better access to redress where they have received bad advice.

And then there's:
2.2 Clamping down on promoters of tax avoidance (Note by me: not tax evasion)
... as well as several more sane areas of focus (within for instance VAT).

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Replying to Hugo Fair:
RLI
By lionofludesch
23rd Mar 2021 23:21

Hugo Fair wrote:

1.6 Timely Payment
The government is publishing a call for evidence to begin to explore the opportunities and challenges of more frequent payment of income tax within Income Tax Self Assessment, and of corporation tax for small companies, based on in-year information.

Is HMRC going to improve its own frequency of payment ? Or is this just about other people paying more quickly?

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Replying to lionofludesch:
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By Hugo Fair
23rd Mar 2021 23:47

Whaddya think? I see it as a direct contradiction of the statement that MTD is NOT about making it possible to increase the frequency of tax-take (although they claim only to be 'exploring the opportunities' right now)!

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Replying to Hugo Fair:
RLI
By lionofludesch
24th Mar 2021 05:24

Hugo Fair wrote:

Whaddya think? I see it as a direct contradiction of the statement that MTD is NOT about making it possible to increase the frequency of tax-take (although they claim only to be 'exploring the opportunities' right now)!

More Government lies.

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Replying to Hugo Fair:
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By SXGuy
24th Mar 2021 07:41

Pretty sure we all knew years ago tax payments would be similar to vat once Mtd came in. And I can imagine seasonal trades will be worse off as they will likely pay huge tax bills peak season and wait months for refunds when needed the most in off peak seasons.

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Replying to Hugo Fair:
blue sheep
By Nigel Henshaw
24th Mar 2021 08:01

Hugo Fair wrote:

Whaddya think? I see it as a direct contradiction of the statement that MTD is NOT about making it possible to increase the frequency of tax-take (although they claim only to be 'exploring the opportunities' right now)!

as predicted thats where we are heading folks

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By Not Anonymous
23rd Mar 2021 19:45

But nothing about CGT or pension tax relief.

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Replying to Not Anonymous:
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By Hugo Fair
23rd Mar 2021 20:00

True ... but they may not be seen as worthy of 'policy consultation' (or simply as too contentious to be draped under the fig-leaf of consultation). It certainly doesn't mean that Rishi won't decide to make substantive 'operational' changes to either of them!

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Replying to Not Anonymous:
paddle steamer
By DJKL
24th Mar 2021 00:53

The OTS Paper 2 re CGT was to be released in spring 2021 so if not in today's doc it must still be pending.

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Jennifer Adams
By Jennifer Adams
24th Mar 2021 09:15

Dont tell me anyone is surprised about the consultation on more frequent payments... it was only a matter of time.

When MTD was first mooted this was something that Accwebmembers picked up upon as a distinct possibility (or do I mean 'probability' or even 'certainty'!) at the time.

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Replying to Jennifer Adams:
RLI
By lionofludesch
24th Mar 2021 09:36

Jennifer Adams wrote:

Dont tell me anyone is surprised about the consultation on more frequent payments... it was only a matter of time.

Well, I must admit that I didn't expect them to be brazen enough to moot it so soon after denying it.

After the next election, I thought.

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By norstar
24th Mar 2021 13:01

Well I feel like a bit of a pratt now, having told clients the nasties would probably come out on 23rd, then pfffffffffffffffffffft - nothing really. I still can't believe that CGT and pensions haven't been hammered. Must be coming surely.

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Replying to norstar:
RLI
By lionofludesch
24th Mar 2021 13:19

norstar wrote:

Well I feel like a bit of a pratt now, having told clients the nasties would probably come out on 23rd, then pfffffffffffffffffffft - nothing really. I still can't believe that CGT and pensions haven't been hammered. Must be coming surely.

I still say that now isn't the time for tax increases.

Let's see how we go with getting the economy back to something like it was a year ago.

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By Justin Bryant
24th Mar 2021 15:33

Someone mentioned tax evasion. You are arguably now better off doing full blown tax evasion than mere avoidance (in fact mere "tax advantage" planning if you understand DoTAS properly) per Schedule 29 et seq and guidance thereto:

https://publications.parliament.uk/pa/bills/cbill/58-01/0270/200270.pdf

https://www.gov.uk/government/publications/tackling-promoters-of-tax-avo...

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Replying to Justin Bryant:
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By Hugo Fair
24th Mar 2021 19:47

That was me ... and indeed it's my bete noire that HMRC (deliberately) no longer differentiate between 'tax avoidance' and 'tax evasion'. Over the last few years they've used the former label (which actually covers legal activities) to describe anything they regard as illegal (whether overtly or via concepts like 'disguised') - as per (in my original post above):
2.2 Clamping down on promoters of tax avoidance.

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