Consultations: where are we now?

New consultations that have been promised for spring 2018, and that might therefore be published with the Spring Statement, include:

• entrepreneurs’ relief after dilution of holdings;
• encouraging compliance by users of digital platforms; and
• petroleum revenue tax treatment of decommissioning costs.

New consultations promised for an unspecified time in 2018 include:

• off-payroll working in the private sector;
• knowledge intensive EIS fund structures;
• online VAT fraud; and
• profit fragmentation (avoidance involving the transfer of UK trading income to unrelated entities).

Consultations that were published in December 2017, and that may therefore have responses published at the time of the Spring Statement, include:

• taxing gains made by non-residents on immovable property;
• corporate tax and the digital economy: position paper;
• corporation tax treatment of lease payments under the new corporate interest restriction;
• impact of the introduction of IFRS 16 (a new accounting standard for leasing which takes effect from 1 January 2019) on income and corporation tax;
• withholding tax on royalties; and
• VAT and vouchers.

Abigail McGregor, Lexis®PSL Tax (lexisnexis.com/uk/lexispsl/tax)