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Consultation responses: an update

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The Government will publish responses to formal consultation on corporate capital gains, furnished holiday lettings and tax policy making on 9 December, when it expects to publish draft clauses planned for Finance Bill 2011, the Treasury has confirmed.

The latest version of the Treasury’s tax consultations ‘tracker’ also indicates that an update will be published on the same day regarding consultation on HMRC powers to require a financial security from ‘seriously non-compliant’ employers in relation to PAYE.

The Chancellor will deliver his Autumn Statement next Monday, 29 November.

David Gauke, the Exchequer Secretary to the Treasury, said earlier this month that ‘ahead of [9 December] the Government will publish more details on corporate tax reform, including interim improvements to controlled foreign company legislation and reform of foreign branches planned for inclusion in the Finance Bill 2011’.

It will also publish the outcome of consultations that have been carried out on a number of anti-avoidance measures, he said. Presenting the ICAEW’s Hardman lecture last week, Gauke said he aimed to publish further details by the end of November on reform of the CFCs regime.

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