HM Revenue & Customs will need to take into account challenges presented by frequent changes to guidance on U.K. coronavirus support schemes when it exercises new powers of recovery, the Chartered Institute of Taxation said. My news story for Tax Notes, June 15 (free to view):
The U.K. government’s response to the coronavirus pandemic has provided a reminder of “why we pay our taxes,” former U.K. Chancellor of the Exchequer George Osborne told the House of Commons Treasury Committee.
Along with two other former chancellors, Alistair Darling and Philip Hammond, Osborne gave evidence on June 3 to the committee’s inquiry into the economic impact of the crisis. The basic argument that if you want the protection of the state, you have to pay for it is “something left and right can agree on as we come out of this pandemic,” Osborne said.
My news story for Tax Notes, June 3 (free to view):
HM Revenue & Customs will impose a new 100 percent tax charge to recover grants overpaid under coronavirus support schemes, under a measure to be added to the current finance bill.
A technical consultation on the draft legislation was published on May 29, as Chancellor of the Exchequer Rishi Sunak outlined changes to the coronavirus job retention scheme and the self-employment income support scheme. The consultation closes on June 12.
My news story for Tax Notes, June 2 (free to view):
Time is running out for the U.K. government to provide certainty to businesses before the Northern Ireland protocol is implemented at the end of the Brexit transition period, the House of Lords EU Committee said.
A 100-page report published on June 1 provides a detailed guide to the protocol and “focuses in particular on the tension at its heart,” the committee said. “Without clear and prompt guidance from the government, and a proportionate approach to the application of the protocol by the EU, there remains a real and present danger of Northern Ireland becoming collateral damage of Brexit,” it argued as U.K. and EU negotiators were set to begin a fourth round of talks on the future relationship.
My new story for Tax Notes, June 2 (paywall):
HM Revenue & Customs is “constantly learning and adapting”, according to a new briefing which describes a recent change of approach to recovery of tax debts in light of the COVID-19 crisis.
My news story for Tax Notes, June 1 (free to view):