Legislation Day - Finance Bill 2020-21
22 July 2020
- The draft provisions for the Finance Bill 2020-21 and explanatory notes have been published, which include changes to HM Revenue and Customs (“HMRC”) civil information powers and proposals for tackling promoters and enable of tax avoidance schemes
- Each measure is accompanied by draft legislation, an explanatory note (which provides a more detailed guide to the legislation) and a tax information and impact notice (TIIN)
- A consultation on the draft clauses is intended to make sure the legislation will work as intended and will be open until 15 September 2020
- Government also published a number of consultations in connection with the draft legislation, including;
- Tackling Promoters of Tax Avoidance (closes 15 September 2020)
- Call for evidence: tackling disguised remuneration tax avoidance (closes 30 September 2020)
- Call for evidence on pensions tax administration (deadline 13 October 2020)
Aspire Comment
Like last year, each measure is accompanied by its own separate policy page and set of explanatory notes, making it a little bit tricky for us to include them all in one place. However, you wish to read these for yourself, click on this link and you will be taken to the main Finance Bill 2020-21 page with all of the new provisions for you to read at your leisure.
If you require any employment tax guidance or help with redundancy matters, get in touch today on 0121 445 6178 or email enquire@aspirepartnership.co.uk.