unintentionally affected. A tax information and impact note on this measure will be published in the autumn taking into account comments received. Comments on this note should be made by 22 September 2011 to Tom Matthews (telephone: +44 (0)20 7147 2661, email tom.o.matthews@hmrc.gsi.gov.uk). This feedback will be used to inform the final version of the draft legislation that will be published in the autumn when interested parties will have a further opportunity to comment.
DISCLOSURE OF TAX AVOIDANCE SCHEMES
24 August 2011 Consolidated guidance is now published to incorporate changes made to the disclosure of tax avoidance scheme rules during 2010-11.
TAX TREATIES ANTI-AVOIDANCE
14 September 2011 Draft legislation to tackle tax avoidance using double taxation treaties was published last month for comment; however the government has decided not to proceed further with the consultation on the proposed legislation and will not include it in Finance Bill 2012. Written Ministerial Statement The Exchequer Secretary to the Treasury (Mr David Gauke): On 1 August HMRC published for consultation a technical note and draft legislation outlining a proposed approach to combating tax avoidance arrangements which exploit the provisions of double taxation agreements (DTAs). The responses so far received have made it clear that the proposed legislation, as drafted, could cause significant uncertainty for compliant UK businesses and overseas investors about its intended scope and its practical effect. The Government is committed to providing certainty to taxpayers and acknowledges the concerns raised in the responses to the consultation. It has therefore decided not to proceed further with the consultation on the proposed legislation and will not include it in Finance Bill 2012. The Government will continue to challenge specific arrangements that clearly seek to abuse provisions in a DTA. This decision reaffirms the Government’s commitment to open and transparent consultation and demonstrates the value of consultation. The Government’s approach set out in its Tax Consultation Framework has been widely welcomed by business and others as providing a much improved basis for developing new legislation. If the Government concludes in the future that alternative approaches for legislating against Treaty abuse are necessary, it will consult on these alternatives in line with the Tax Consultation Framework.
TAX AVOIDANCE SCHEMES CLOSED
28 February 2012 The government has announced the immediate closure of two tax avoidance schemes, in one case with partly retrospective effect. On 27 February the Government announced it was taking action to counter arrangements under which a company seeks to avoid the charge arising under the corporation tax rules on
CIPP Policy News Journal
09/10/2012, Page 231 of 234
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