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Tuesday 23 March 2021 was the UK’s inaugural ‘Tax Day’, on which the government published a number of tax policies and consultations, setting out measures to help shape the next steps in delivering its ten year tax administration strategy, announced in July 2020.

The paper includes a range of policy announcements and updates to support wider improvements in the tax system, including business rates and environmental taxes, as well as measures to drive down non-compliance and enhance tax simplification.

A summary of the announcements, calls for evidence, consultations and published responses can be found below:

Announcements

  • Reduced inheritance tax reporting requirements;
  • Self-catering accommodation criteria for business rates;
  • ‘Making Tax Digital’ to include income tax self-assessment;
  • Investment in digital infrastructure;
  • Dormant Assets Scheme expansion; and
  • Pensions tax technical updates.

Calls for evidence

  • Tax administration framework review closing 13 July 2021; and
  • Payment of income tax and corporation tax closing 13 July 2021.

Consultations and discussion documents

  • Clamping down on promoters of tax avoidance closing 1 June 2021;
  • Raising standards in tax advice market closing 15 June 2021;
  • Securitisation tax rules – closing 3 June 2021;
  • Transfer pricing documentation – closing 1 June 2021;
  • Aviation tax – closing 15 June 2021;
  • Aggregates Levy – closing 15 June 2021;
  • Notification by large businesses of an uncertain tax treatment – closing 1 June 2021;
  • No safe havens: Helping tax payers get offshore tax right – closing 15 June 2021; and
  • No safe havens: Preventing and collecting international tax debt – closing 15 June 2021.

Responses and reports

  • Fundamental review of business rates;
  • Tackling disguised remuneration tax avoidance;
  • Taxation of trusts;
  • VAT Partial Exemption and Capital Goods Scheme;
  • VAT grouping;
  • VAT and value shifting;
  • VAT and the public sector;
  • Social Investment Tax Relief (SITR);
  • Carbon Emissions Tax; and
  • Sanctions for illicit tobacco.

Future reviews

  • The effectiveness of the Office of Tax Simplification;
  • Simplification of the land and property VAT rules;
  • Residential property developer tax;
  • Tax treatment of superfunds; and
  • Landfill Tax.

Full details are available, here.

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