The House of Lords Economic Affairs Committee Finance Bill Sub-Committee are holding an oral evidence session on Draft Finance Bill 2018 with representatives from HMRC. The CIOT are liveblogging the session from 4pm today (Mon).

Peers held three hearings last week as part of their inquiry into the provisions of Draft Finance Bill 2018 (which focuses on Making Tax Digital and HMRC Powers). This followed an earlier hearing with representatives of tax and accountancy bodies, including the CIOT’s John Cullinane - see here


The House of Lords Economic Affairs Finance Bill Sub-Committee will take oral evidence on HMRC Powers and Making Tax Digital from LITRG and others today as part of its inquiry into Draft Finance Bill 2018. A liveblog appears below.

Scotland’s finance secretary, Derek Mackay, professed himself “filled with pride” over the government’s tax policies, but the SNP’s annual conference was this year light on tax debate, with little in the way of new policy announcements.

This is part of a series of reports on tax policy discussions at the main party conferences. A round-up of the Conservative conference can be found here, Labour conference here and the Lib Dem conference here.

The Scottish Government is expected to press ahead with plans to introduce a business rates levy for online businesses, the focus of debate at this year's CIOT fringe event at SNP conference in Glasgow.

The House of Lords Economic Affairs Finance Bill Sub-Committee took oral evidence on Making Tax Digital and HMRC Powers today as part of its inquiry into Draft Finance Bill 2018. A liveblog appears below.

This was a fairly quiet conference on the tax front for the Conservatives, new announcements limited to a stamp duty increase for foreign buyers, edging a little closer to a Digital Services Tax, tweaks to the apprenticeship levy and another year of a fuel duty freeze. Various outriders would like to see more radical changes though – especially corporation tax cuts – and there are hints these might be considered depending on the outcome of the Brexit process.

Shadow Tax Minister Anneliese Dodds told our Labour Conference fringe debate that unilateral approaches are less effective than a joint approach across nations when it comes to taxing companies, but struck a hopeful note, saying there is ‘a lot of support for dealing with loopholes in the international tax system’.

The process under the Wales Act 2014 that enables the Welsh Government to introduce new taxes in areas of devolved responsibility subject to approval from the National Assembly for Wales and both Houses of Parliament, will be tested for the first time with the formal proposal for a vacant land tax going to the UK Government later this year. The work to gain the powers is only a first step, the development of detailed policy proposals will follow involving engagement with stakeholders and the public in accordance with the Welsh Government’s tax policy framework.

Chancellor Philip Hammond said in his Conservative Conference speech that Britain will unilaterally implement a digital service tax if there is no international agreement soon on how to tax big internet companies, blaming US tax reforms for slow multilateral progress. Speaking at a CIOT/IFS fringe debate at Conservative conference the next day, titled ‘What does fair business taxation look like in a digital world?’ Tax Minister Mel Stride said to ‘expect some things coming down the line’ from the Treasury on Hammond’s pledge.