Current Consultations - will you be affected?

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.

https://www.gov.uk/government/consultations/replacing-wear-and-tear-allowance-with-tax-relief-for-replacing-furnishings-in-let-residential-dwelling-houses


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.

https://www.gov.uk/government/consultations/improving-large-business-tax-compliance


Termination payments
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.

https://www.gov.uk/government/consultations/simplification-of-the-tax-and-national-insurance-treatment-of-termination-payments


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.

https://www.gov.uk/government/consultations/tackling-offshore-evasion

A full list of HMRC consultations can be found at:
http://bit.ly/1lYXgjx