CIOT warns of dangers of rushing through Finance Bill
Released 18 April 2017
The Chartered Institute of Taxation (CIOT) has written to Chancellor Philip Hammond urging him not to rush through a large number of tax changes without any real parliamentary scrutiny. Following the announcement of a snap election on June 8th the timetable for Finance Bill 2017 is expected to be truncated.
The CIOT is urging the Government to drop the majority of the current Bill and keep only those measures essential to maintain the Government’s revenue-raising capacity, such as renewing the provision of income tax, and other measures which are required urgently, such as anti-avoidance provisions. Measures dropped could be reintroduced in a post-election Finance Bill where they can be scrutinised at greater length.
More details are available here.