Blog archive - 2017

Finance Bill 2017-18 (or Finance Bill (No.2) 2017-19 as it is also referred to in some places) was published today ahead of its second reading debate on December 11th.

17 MPs made speeches, and others contributed through interventions, to the debate on the ‘Ways and Means Resolution’ paving the way for the Taxation (Cross-border Trade) Bill (also known as the Customs Bill). The resolutions were approved, unamended.

In partnership with Bloomberg BNA five leading CIOT members have written analyses of the measures in Autumn Budget 2017. John Barnett of Burges Salmon LLP, a CIOT Council member, looks at Budget changes likely to affect high net worth individuals.

In partnership with Bloomberg BNA five leading CIOT members have written analyses of the measures in Autumn Budget 2017. Glyn Fullelove of Informa, Chair of CIOT's Technical Committee, looks at Budget announcements that may affect large businesses.

In partnership with Bloomberg BNA five leading CIOT members have written analyses of the measures in Autumn Budget 2017. Tina Riches of Smith and Williamson, Chair of CIOT's Owner Managed Business Sub-committee, looks at measures in the Budget that may impact on small businesses.

In partnership with Bloomberg BNA five leading CIOT members have written analyses of the measures in Autumn Budget 2017. This piece, by CIOT Head of Technical Richard Wild, looks at the VAT measures in the Budget.

In partnership with Bloomberg BNA five leading CIOT members have written analyses of the measures in Autumn Budget 2017. This article by Susan Ball of Crowe Clark Whitehill, a CIOT Council member, looks at the taxation of employment in relation to announcements in the Budget.

A report on the House of Lords debate on Universal Credit which took place on Thursday 16 November 2017. Much of the debate was spent by peers illustrating the problems with UC but there were some practical suggestions (including some cited from the Low Incomes Tax Reform Group). Most speakers were from Labour, which along with other opposition parties wants a pause to the roll out of UC because of unintended consequences on claimants.

This debate combined Lords second reading debate on the the remaining stages of the Finance Bill with discussion on the Economic Affairs Committee’s Finance Bill Sub-Committee’s report on the draft Finance Bill (which focused on making tax digital), published back in March 2017 – see here.  This is a link to the recommendations in that report. The debate jumped around a bit which is not surprising given the Finance Bill was more than 600 pages long and the debate lasted only an hour.

The controversial subject of how to tax inherited wealth was the subject of a lively CIOT/Institute for Fiscal Studies debate at the RSA which treated its guests to a history of inheritance tax and a comparison to the system used on the other side of the Irish Sea. An audio recording of the debate is available below.