As to tax controversy and dispute resolution this Budget presents a mixed picture.
Changes in existing regimes often cause uncertainty and confusion particularly if there is a gap between the enactment of legislation and HMRC Guidance being updated. Three areas of change which seem likely to lead to an increase in disputes are (1) the abolition of the non-domicile status; (2) substantive changes to the R&D tax regime; and (3) the intention to close down the scope of charity tax reliefs.
The Budget provides more stick for HMRC by funding 5 000 new compliance and debt management staff and increasing the interest rates on tax debts. The former provides little comfort to those embroiled in complex enquiries where greater investment in technical leadership at HMRC is needed. The latter turns late payment interest into an arbitrary subset of the penalty regimes. While this may speed up the recovery of undisputed...
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Home >Articles > Autumn Budget 2024: contentious tax - a mixed picture
Autumn Budget 2024: contentious tax - a mixed picture
As to tax controversy and dispute resolution this Budget presents a mixed picture.
Changes in existing regimes often cause uncertainty and confusion particularly if there is a gap between the enactment of legislation and HMRC Guidance being updated. Three areas of change which seem likely to lead to an increase in disputes are (1) the abolition of the non-domicile status; (2) substantive changes to the R&D tax regime; and (3) the intention to close down the scope of charity tax reliefs.
The Budget provides more stick for HMRC by funding 5 000 new compliance and debt management staff and increasing the interest rates on tax debts. The former provides little comfort to those embroiled in complex enquiries where greater investment in technical leadership at HMRC is needed. The latter turns late payment interest into an arbitrary subset of the penalty regimes. While this may speed up the recovery of undisputed...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
