Media and politics

Chancellor Rishi Sunak appeared in front of the Treasury Committee last week (11) as part of the committee’s inquiry into the UK Budget 2021. Dan York-Smith, Director of Strategy, Planning and Budget at the Treasury – the official with overall responsibility for the Budget - appeared alongside Sunak.

Officials from the Treasury and HMRC were subject to some tough questioning from the Public Accounts Committee (PAC), as part of its continuing inquiry into environmental taxes. This included evaluation of green tax measures and how great a role tax has in the Government’s strategy for achieving ‘net zero’.

MPs have approved the March 2021 Budget Resolutions following four days of debate in the House of Commons. A report on the first two days of debate features on the CIOT website here. Below is a report on the final two days of debate, which took place on Monday and Tuesday this week (8-9 March).

A panel of tax, trade and business experts, from Ireland and Great Britain, explored the challenges of post-Brexit trade and customs arrangements at an online debate on ‘UK and Ireland: doing business post-Brexit’, organised jointly by CIOT, the Association of Taxation Technicians (ATT) and the Irish Tax Institute (ITI), on 9 March 2021.

In last week’s Budget the Chancellor announced that the government will be freezing the income tax personal allowance and higher rate threshold between 2022 and 2026, rather than increasing them in line with inflation, which was the previous plan.

MPs have begun four days of debate on the Budget, which will culminate on Tuesday with votes on the Budget resolutions (see below). This report picks out some of the contributions on tax matters from the first two days of the debate. They are grouped by topic rather than in the order the speeches were made.

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.

On Monday 1 March, the CIOT hosted the launch of the House of Commons Treasury Select Committee report, Tax after Coronavirus.

MSPs have agreed to the Scottish Government’s income tax plans for the coming year and have hinted at the prospect of more substantive reforms to the Scottish tax regime in future years.

The Government has responded to the House of Lords Economic Affairs Finance Bill Sub-Committee’s December 2020 report titled ‘New powers for HMRC: fair and proportionate?’ Of the committee’s recommendations the Government accepted nine and partially accepted six, rejecting nine. The Government outlined more of its thinking on professional indemnity insurance to peers and agreed that HMRC should justify themselves a bit more – but it stuck to its position that people applying for certain licences should be subject to tax checks.