Tax Law Rewrite
HMRC have published a response document to comments received on the draft clauses exposed with the Tax Law Rewrite Papers.
The comments received were to Papers CC/SC(07) 02, 03, 04, 05, 06 and 07 and relate to the following topics:
- Accounting periods
- Company residence
- Non-UK resident companies: chargeable profits
- Other relief for employee share acquisitions
- Additional relief for expenditure on research and development
- Companies with investment business
A copy of the response document is available at
http://www.hmrc.gov.uk/rewrite/exposure/response-bill5.pdf.
Further consultation documents were published by HMRC in the past month on “Review of links with Large Business” and “Voluntary disclosure of errors on indirect tax returns”.