HMRC are holding a number of consultations before new government legislation is enacted. This is your opportunity to provide any feedback on the following areas:
Wear and tear
Clarification has also been sought for changes to the wear and tear allowance announced in the summer budget. The government wants to scrap the nominal 10% relief for a ‘replacement furniture relief’, which will give relief based on costs actually incurred. The deadline for this consultation is 9 October 2015.
Large business tax compliance
This will focus on measures that will deter businesses from aggressive tax planning or refusal to co-operate with HMRC in an open way. The deadline for this is 14 October 2015.
The tax laws surrounding the treatment of termination payments is currently very complicated. This consultation looks at proposals that will replace the current rules with a simpler smaller initial exemption, that would depend on length of service. The consultation will end on 16 October 2015.
Offshore tax evasion
The measures for clamping down on offshore tax evasion have been growing in the last couple of years. There is currently a four-part consultation on the issues regarding the strengthening of the powers to deal with evaders, focusing on new criminal offences and civil sanctions. The deadline for these consultations is 8 October 2015.
A full list of HMRC consultations can be found at: