Pre-Budget 2008 - Supplementary Documents

These documents were published immediately after the Chancellors speech today 24 November 2008.

• Consultation documents
• Others
• Impact Assessments (IAs)

Consultation documents

• Compliance Checks: The Next Stage (PDF 226K)
  This consultation, impact assessment (PDF 65K) and draft legislation (PDF 440K) explore applying the Finance Act 2008 compliance checking framework to other HMRC taxes and repealing a number of specialist powers no longer needed.
• Interest – Working Towards a Harmonised Regime: Summary of Responses and Proposals (PDF 125K)
  This consultation and impact assessment (PDF 70K) respond to earlier consultation and explore the harmonisation and simplification of the rules for interest charged and paid by HMRC for all taxes and duties.
• Meeting the Obligations to File Returns and Pay Tax on Time: Consultation Responses and Refined Models (PDF 316K)
  This consultation and impact assessment (PDF 167K) respond to earlier consultation and explore how HMRC can support people to meet filing and payment obligations. It outlines proposed penalty models with related safeguards.
• Payments, Repayments and Debt: The Next Stage (PDF 246K)
  This consultation and impact assessment (PDF 157K) explore payment schemes making it easier for taxpayers to pay on time, and new powers for HMRC to take action against those who do not.
• Principles—based approach to financial products avoidance - document available on HM Treasury web site
  This consultation document explores the use of principles based legislation for countering financial products avoidance with a view to the possible introduction of legislation at Finance Bill 2009.
• Simplification Review: corporation tax calculations and returns for smaller companies- a discussion document - document available on HM Treasury web site
  This outlines two potential approaches to simplifying Corporation tax calculations for smaller companies – the ideas will only be developed further if there is convincing support from business for either approach.

Reports / Summaries of Responses

• A New Charter for HMRC and its Customers (PDF 96K)
  This is HMRC’s response to participants in the consultation/engagement exercise into the scope of a new HMRC Charter. It draws from written responses and includes views/opinions expressed at informal events.

Others

• Extension Of Loss Relief Rules – Carry-back Of Trading Losses (PDF 60K)
  The Government proposes to introduce legislation in Finance Bill 2009 to provide a temporary extension to the loss relief rules for trading losses of both corporate and unincorporated businesses. This document gives details of the proposals.
• Land Remediation Relief (PDF 208K)
  Draft legislation published here extends Land Remediation Relief, providing relief for expenditure on specified work on long term derelict land. It also refocuses the relief on contamination by industrial activity.
• Leasing avoidance by film partnerships (PDF 133K)
  On 13 November 2008, the Government announced it was taking action to counter
  avoidance by film leasing partnerships. This document provides draft legislation and
  Explanatory Notes.
• Measuring Indirect Tax Gaps (PDF 1.55M)
  Estimates of the tax gap for VAT, illicit market shares for excise duties (spirits, tobacco and hydrocarbon oils), and estimates of Missing Trader Intra-Community (MTIC) fraud. 
• Modernising, Powers, Deterrents and Safeguards: The Review’s Work Programme (PDF 146K)
  This document describes the aims and ways of working of the Review with details of completed, current and future work. It refers to the creation of an implementation oversight forum.
• Report on the interaction between company cars, employee car ownership scheme cars and mileage allowance payments (PDF 205K)
  This report presents the findings of HMRC’s review of the taxation of employee car ownership schemes and the interaction between these schemes, company car tax and tax-free mileage allowance payments.
• Tackling Tobacco Smuggling Together - an integrated strategy for HM Revenue & Customs and the UK Border Agency (PDF 331K)
  This document sets out how HMRC and the UK Border Agency (UKBA) will work together to deliver a more effective response to tobacco smuggling.

Top

Impact Assessments (IAs)

Partial IA

• Compliance Checks: The Next Stage (PDF 226K)
  This impact assessment, consultation document (PDF 226K) and draft legislation (PDF 440K) explore applying the Finance Act 2008 compliance checking framework to other HMRC taxes and repealing a number of specialist powers no longer needed.
• Interest – Working Towards a Harmonised Regime (PDF 70K)
  This impact assessment and consultation document (PDF 125K) respond to earlier consultation and explore the harmonisation and simplification of the rules for interest charged and paid by HMRC for all taxes and duties.
• Meeting the Obligations to File Returns and Pay Tax on Time (PDF 167K)
  This impact assessment and consultation document (PDF 316K) respond to earlier consultation and explore how HMRC can support people to meet filing and payment obligations. It outlines proposed penalty models with related safeguards.
• Payments, Repayments and Debt: The Next Stage (PDF 157K)
  This impact assessment and consultation document (PDF 246K) explore payment schemes making it easier for taxpayers to pay on time, and new powers for HMRC to take action against those who do not.