Tax Consultations

David Gauke Excerpts

Friday 17th June 2011 Written Statements

[The Exchequer Secretary to the Treasury (Mr David Gauke)]

Budget 2011 announced a number of tax policy changes and longer-term tax reforms that will be subject to consultation. These are summarised in the tax consultation tracker, which is available on the HM Treasury website at:

http://www.hm-treasury.gov.uk/tax_updates.htm.

HM Revenue and Customs (HMRC) and HM Treasury have today published the following consultation documents:

“Statutory definition of tax residence: a consultation”—a consultation on the introduction of a statutory definition of tax residence to provide greater certainty for individuals.

“Reform of the taxation of non-domiciled individuals: a consultation”—a consultation on the detail of reforms to the taxation of non-domiciled individuals.

Simplification of regulatory penalties—a consultation on reforms to penalties that HMRC can impose for failure to comply with administrative obligations across the tax and duty regimes.

The tax consultation tracker has been updated to reflect latest planning assumptions for future publications in June and July.