Management of taxes

CIOT, LITRG and ATT all responded to the consultation on proposals to extend the existing security deposit legislation and the discussion document exploring ways to tackle abuse of the insolvency regime to avoid or evade tax liabilities, including through the use of phoenixism, noting the interconnection between the two proposals

At the time of writing (early July), there is only one new development to report on the MTD front since our update piece in June’s Technical Newsdesk: the draft legislation to deal with penalties for failing to make returns, penalties for late payment, and the way that interest is charged and repaid for VAT was published on 6 July 2018.

The CIOT has responded to both recent Inquiries established by the Treasury Sub-Committee, and LITRG responded to the second Inquiry. Our written responses will be published on our websites once an order to be published has been made by the Sub-Committee. We may also be called to provide oral evidence to the Sub-Committee in due course.

The CIOT submitted a response to the Scottish government’s consultation on an amendment to Land and Buildings Transaction Tax group relief. LITRG responded to the Scottish government’s consultation on draft regulations making provision in relation to Social Security appeals, in particular the draft rules of procedure.