The Chancellor announced at Budget 2021 that a raft of tax announcements and consultations would be published on a separate “Tax Day”. The full range of announcements and consultations can be found in the published collection, here, with details below.

As expected, the Government published an interim report on business rates, including a summary of responses received to the call for evidence for the fundamental review. It confirms that the fundamental review will conclude in the autumn. The report highlights the representations by CTG and others calling for the protection of valuable mandatory business rates relief, worth over £2bn a year to the sector. Read more here.

Consultations

Closing on 1 June

• Clamping down on promoters of tax avoidance – consultation on proposals to tackle promoters and enablers of tax avoidance schemes and to support taxpayers to avoid, and exit, tax avoidance.

• Transfer pricing documentation – consultation on the case for clarifying and strengthening transfer pricing documentation requirements.

• Notification of uncertain tax treatment by large businesses (second consultation) – consultation on the government’s new policy to require large businesses to notify HMRC where they have adopted an uncertain tax treatment.

Closing on 3 June

• Reform of the taxation of securitisation companies – consultation on the taxation of securitisation companies and on the Stamp Duty loan capital exemption as it applies to securitisations and to insurance-linked securities.

Closing on 15 June

• Raising standards in the tax advice market – consultation on the proposal that everyone who provides tax advice should hold professional indemnity insurance, as well as views on a definition of tax advice.

• Helping taxpayers get offshore tax right – consultation on how HMRC can help taxpayers get their offshore tax right by using data, raising taxpayer awareness and reducing errors.

• Preventing and collecting international tax debt – consultation on how HMRC can better understand, prevent, and collect international tax debt.

• Consultation on aviation tax reform – consultation on reforms to Air Passenger Duty.

• Proposals on the treatment of aggregate removed during construction works – consultation on proposed changes to the treatment of aggregate extracted in connection with some types of construction.

Closing on 5 July

• Hidden economy conditionality (Northern Ireland and Scotland) – consultation on how new tax checks for taxi, private hire car and metal dealer licensing are implemented in Scotland and Northern Ireland.

Closing on 13 July

• The tax administration framework: supporting a 21st century tax system – consultation on how the tax administration framework could be reformed to support a trusted, modern tax administration system.

• Timely payment – consultation on the opportunities and challenges of in-year calculation and payment for Income Tax Self Assessment and Corporation Tax for small companies.

Other documents

• HM Treasury fundamental review of business rates (interim report)

• HM Treasury Review of the Office of Tax Simplification (Terms of Reference)

• The taxation of trusts (summary of responses) 

• Carbon Emissions Tax (summary of responses)

• Tackling disguised remuneration tax avoidance (summary of responses)

• Simplification of partial exemption and the Capital Goods Scheme (summary of responses)

• Social Investment Tax Relief (summary of responses)

• Notification of uncertain tax treatment by large businesses (summary of responses)

• Tackling promoters of tax avoidance draft guidance

• Exploring voluntary sign-up to Making Tax Digital for VAT

• Exploring the costs and benefits of Making Tax Digital for VAT experienced by smaller businesses

• Effects of the off-payroll working reform on education sites