First ‘TAM Day’ includes 30 Tax papers…

It was announced in the recent Budget that there would be a day set aside in the Autumn dedicated to the administration and maintenance of the UK Tax system. Tuesday 30th November was the first UK Tax Administration and Maintenance (TAM) Day, and 30 papers were released. These covered a wide range of tax matters.

The 30 publications released include Calls for Evidence, Draft Regulations, Policy Papers and Corporate Reports. These included:

• A report on Research and Development (R&D) tax reliefs, providing further details on announcements made in the Budget.
• A Call for Evidence, to look into ‘how can HMRC can modernise its tax debt collection‘, and on its approach to the small minority of taxpayers who do not engage with the department and deliberately hold off paying their tax for as long as they can.’
• A Call for Evidence to gain an updated understanding on the position and importance of Umbrella companies within the labour market. Increasing numbers of workers within this sector are claiming exploitation and HMRC is aware of tax evasion too.

Jim Harra, HMRC’s Chief Executive, said: ‘As we continue our work to improve the tax system for UK taxpayers and clamp down on avoidance and evasion, we know that an open dialogue with our stakeholders is vital.

‘With thanks to the tax profession for their views, we can now announce the next steps for how we will simplify the legislative framework and raise standards in the tax advice market. We are also announcing new areas on which we are inviting views, including reforming Income Tax Self-Assessment registration for the self-employed.’

As more detail is published on the various announcements and consultations, we will of course keep you up to date. If you’re not a client, please complete the form below and we’ll make sure you’re included in our updates.