UK government to consult on promoting ‘taxpayer certainty’

HM Treasury officials will explore several potential opportunities to promote “taxpayer certainty” for large businesses, Chancellor of the Exchequer Philip Hammond has told the Office of Tax Simplification.

In response to the OTS’s recommendations on the computation of corporation tax liabilities and a separate report on stamp duty on paper documents, Treasury on August 29 released two letters from Hammond to the OTS, both of which were dated August 14.

Hammond said in response to the corporation tax report, “I encourage the OTS to engage with the consultation announced at spring budget 2017 on the risk profiles of large business and promoting stronger compliance.” The consultation, originally intended to be released before the summer parliamentary recess, will be issued “in due course,” an HMRC spokesman told Tax Analysts. Read more:

My news story for Tax Analysts, August 30 (paywall)