Property Taxes

 


As expected as part of the ‘Tax Day’ announcements, HMRC has published the second consultation on notification of uncertain tax treatment by large businesses, as well as a summary of responses to the first consultation.

MPs have concluded debate on the committee stage of Finance Bill 2021, with debate on tax evasion and avoidance, property taxation and support to business.

MPs debated committee stage of Finance Bill 2021, with debate on family finances, corporation tax and freeports. All clauses were retained. Government amendments relating to freeports were passed but no opposition amendments or new clauses were passed.

MPs begin debating the Finance Bill in committee today. Committee of the Whole House will take place on Monday 19 and Tuesday 20 April, with public bill committee commencing on Thursday 22 April.

This page bring together briefing notes and representations from the CIOT, our Low Incomes Tax Reform Group and our sister body, the Association of Taxation Technicians, produced for committee stage of Finance Bill 2021, which begins on Monday 19 April. 

The House of Commons Treasury Committee has published its much-awaited report on Tax after Coronavirus, the most ambitious parliamentary report ever produced on tax reform.

At Budget 2020, the government announced that it would carry out a review of the UK funds regime, covering tax and relevant areas of regulation. The review started with a consultation on the tax treatment of asset-holding companies in alternative fund structures, to which the government responded in December 2020, and also published a consultation (the second consultation) into some particular aspects relevant to asset-holding companies.

The Chartered Institute of Taxation (CIOT) have made a Budget representation on taxation of property income.

The Welsh Government published its draft budget for 2021-22 on Monday 21 December.

The Chartered Institute of Taxation (CIOT) have written to HM Treasury copied to HMRC policy regarding significant tax changes due to take effect in March/April 2021.