The government has largely ignored the tax policy making process with significant tax announcements – such as the health and social care levy - made outside fiscal events and consultation on substantial changes condensed into multiple stages over short periods said the Chartered Institute of Taxation in its response to the Treasury Committee’s inquiry into the autumn Budget and spending review 2021.
It added that where the process is not followed the resulting legislation ‘fails to meet the policy aim and brings many implementation problems’.
The institute was concerned that basis period reform was being rushed through to facilitate the introduction of making tax digital for income tax saying this was likely to create further complexity rather than provide the ‘desired simplification’.
However the CIOT welcomed the fact that the Budget had been ‘light’ on major tax changes because that offered businesses...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.