Delay to uncertain tax treatment proposal

The government has announced a delay of a year to the implementation of its proposal to bring in an obligation on large businesses to notify any uncertain tax treatment to HMRC. The announcement follows earlier indications that HMRC had accepted that the original proposal needs to be revisited to make it more objective and more straightforward to apply. The delay is to be welcomed, and it is hoped it provides an opportunity to ensure that the final rules are more targeted and workable than the original proposals.