Sub-Committee to question industry bodies from tax law and accountancy
To inform the Sub-Committee's inquiry on the 2021 Draft Finance Bill, evidence is being gathered from experts in tax law and accountancy on HMRC tax avoidance proposals. Witnesses represent the Law Society, Institute of Chartered Accountants Scotland (ICAS) amongst others.
Meeting details
At 4:00pm: Oral evidence
Inquiry
Draft Finance Bill 2021
Head of Tax Technical Team at Chartered Institute of Taxation
Head of Tax at Institute of Chartered Accountants in England and Wales
Head of Tax Technical Policy at Institute of Chartered Accountants of Scotland
At 5:00pm: Oral evidence
Inquiry
Draft Finance Bill 2021
Committee member at Tax Investigations Practitioners Group
Solicitor member at The Law Society Scotland , and Law Lecturer at University of Dundee
Chair of Tax Committee at Law Society
Possible questions
- HMRC say that there are between 20 and 30 promoters that continue to selltax avoidance schemes. Which of the proposed measures do you considerare likely to be the most effective against these remaining promoters, and why?
- Could the problem with delays in supplying information to other tax jurisdictions have been tackled in other ways and, if so, how?
- HMRC say that requiring taxpayers to inform them of uncertain taxtreatment will allow them to more quickly address areas of dispute. Will ithave that effect? And how much do you see this this as trying to addressresource constraints in HMRC?
- What view do you take about introducing the concept of ‘conditionality’ into tax legislation, making licences to trade conditional on compliance with tax obligations?
- The draft legislation on the corporate interest restriction retrospectivelyprovides a “reasonable excuse” provision as a defence against penalties. TheGovernment has also suggested that there is a case for making the newpenalty provisions for enablers of tax avoidance schemes retrospective. Doyou consider that this use of retrospection in these cases is acceptable? Is itin line with Government policy on retrospection?