HMRC begins new consultation on tax changes

Date: 15th August 2008

HM Revenue & Customs (HMRC) has revealed that it has set up a consultation process about some of the tax rule changes that are soon to be implemented.

It explained that the finance bill of 2008, which recently received Royal Assent, changes the rules about aligned information and inspection powers, as well as those concerning record-keeping and time limits for assessments and claims.

HMRC added that the changes were put in place after a series of wide-ranging consultations with affected parties.

Now, the government body has revealed that it is looking to create technical and operational guidance and a comprehensive learning package about the changes.

A statement explained: "It is envisaged that technical guidance will be put to external consultation by the end of September. Operational guidance will be produced in sections and once a section is completed, consultation will be sought.

"The implementation team wish to work collaboratively with businesses and their representatives and welcome early contact and views ahead of the process outlined above."

When the finance bill was first published earlier this year, the financial secretary to the Treasury, Jane Kennedy, said that it represented the progress the government "has made in building a stable, competitive economy that supports a high level of enterprise and growth".