Government publishes response to the House of Lords report on new HMRC powers

Published on: 26 February 2021

Published by a

Specialist Tax Regulatory Materials

Article summary

The government has published its response to the House of Lords Economic Affairs Finance Bill Sub-Committee report on whether new powers for HM Revenue and Customs (HMRC) are fair and proportionate. The letter sets out the government’s agreement with six out of the nine recommendations made by the Sub-Committee in the report. The response also takes into consideration the recently published HMRC report on the ‘implementation of powers, obligations and safeguards introduced since 2012’.

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

News

Guidance

Popular Articles

Personal Tax

VAT on property disposals

VAT on property disposalsThis guidance note provides an overview of the VAT treatment of selling property that is located in the UK. The UK includes Great Britain, Northern Ireland and the territorial sea of the UK. The sale of any land or building located outside the UK is outside the scope of UK

14 Jul 2020 13:57 | Produced by Tolley Read more

Owner-Managed Businesses

Tax implications of administration and liquidation

Tax implications of administration and liquidationThis guidance considers the tax implications of a company going into administration or liquidation.Introduction to company administration and liquidationCompany going into administrationA company which is in financial difficulty may go into

14 Jul 2020 15:29 | Produced by Tolley Read more

Trusts and Inheritance Tax

Holdover relief for disposals by trustees

Holdover relief for disposals by trusteesOverviewWhere a capital gain has been realised on an asset that has been disposed of and that disposal was not for full value (that is not in an arm’s length sale) then holdover relief may be available. This will happen when trustees appoint capital assets

14 Jul 2020 11:54 | Produced by Tolley Read more

��Ƶ