Blog

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.

In an article for our website ahead of next month's UK Budget, Jason Collins, Chair of our Climate Change Working Group, reflects on a significant  recent government report on the environment and outlines the challlenges with emissions trading schemes. Jason is also a partner at Pinsent Masons.

A new report by the National Audit Office (NAO) examines how the Treasury and HMRC manage tax measures with environmental objectives, including the work undertaken to design, monitor and evaluate them. It explores how these ‘exchequer departments’ use their resources to manage the relationship between the wider tax system and the Government’s environmental goals, including its statutory commitment for the UK to achieve net zero greenhouse gas emissions by 2050.

The House of Commons Environmental Audit Committee (EAC) published its ‘Growing back better: putting nature and net zero at the heart of the economic recovery’ report last week (17 Feb) which includes a call for VAT reductions to encourage energy efficiency, the use of recycled materials, and repair services.