Public Accounts Committee report criticises MTD programme
[ad_1] HMRC has lost sight of needing to put taxpayers at the heart of changes to the tax system, warns PAC. The House of Commons Public Accounts Committee (PAC) released its report Progress with Making Tax Digital on 24 November. The report expresses concerns that the additional burdens of Making Tax Digital (MTD) will make […]
Committee examines R&D, promoters and data proposals
[ad_1] The House of Lords Economic Affairs committee inquiry into the draft Finance Bill 2023-24 received 19 written responses and has heard from five representative bodies, including ICAEW. The Finance Bill Sub-Committee is appointed annually by the Economic Affairs Committee to consider the draft Finance Bill from a tax administration, clarification, and simplification perspective. For […]
Treasury Committee calls for greater diversity of investment
[ad_1] The House of Commons Treasury Committee’s report into venture capital investment schemes recommends better support for female-led businesses and those outside the South East of England. The House of Commons Treasury Committee’s report into venture capital investment schemes, published on 18 July 2023, noted the success of the UK’s enterprise investment scheme (EIS) and […]
Treasury Committee urges wholesale review of tax reliefs
[ad_1] In line with evidence from ICAEW, the House of Commons Treasury Committee has concluded that tax reliefs are adding complexity to the UK tax system and are open to abuse. The committee has called for a systematic review of reliefs, alongside greater consultation on new reliefs and measures to better manage existing reliefs. In […]
Treasury Committee Chair shares priorities with ICAEW
[ad_1] ICAEW hosts Treasury Committee Chair Harriett Baldwin MP for a discussion on the Committee’s upcoming work and the future of tax simplification. ICAEW Director of Public Sector and Taxation Alison Ring OBE FCA, recently welcomed Treasury Committee Chair Harriett Baldwin MP and representatives from across the tax profession to Chartered Accountants’ Hall on Wednesday, […]
Tax simplification a top priority for Treasury Committee Chair
[ad_1] ICAEW hosts Treasury Committee Chair Harriett Baldwin MP for a discussion on tax simplification following the demise of the Office for Tax Simplification. ICAEW Director of Public Sector and Taxation Alison Ring OBE FCA welcomed Treasury Committee Chair Harriett Baldwin MP and representatives from across the tax profession to Chartered Accountant’s Hall on Wednesday […]
Treasury Committee reports on abolition of the OTS
[ad_1] The House of Commons Treasury Select Committee calls for enhanced accountability of government efforts to simplify the UK’s overcomplicated and burdensome tax system. The abolition of the Office for Tax Simplification (OTS) is due to be given statutory effect by the enactment of Finance (No. 2) Bill 2023. The report, published on 16 June […]