There have been a number of questions from members over the likely timing of any Autumn Statement and in particular about the future of the Pre-Budget Report in the light of various media comments.
We have raised the issue with the HMT/HMRC policy team and been told: “There will be no PBR as such but there may be further statements, such as has already happened on Pensions and Bank Levy.”
As the Office for Budget Responsibility is due to provide its forecast by 29 November, we assume that the Chancellor will make some form of response in the following weeks.
On related matters, we understand that:
There will be a formal report back on the Tax Policy Making consultation before the end of the year
The next Finance Bill will be issued in draft before the end of the year; inevitably, this is not guaranteed to be the complete Bill as the Chancellor needs the flexibility to announce further changes in duty rates or anti-avoidance measures at the Budget for inclusion in FB 2011.
HMRC are aware of the need to make sure tax figures and rates for the coming year are set and published in good time before the current year end.
John Whiting
