New Budget timetable and tax policy-making process

The government has reaffirmed its commitment to the principles set out in its 2010 approach to tax policy-making, updated for the new Autumn Budget/Spring statement timetable. The Spring statement has been announced for Tuesday 13 March 2018.

HM Treasury acknowledges in the latest guidelines that ‘the approach taken has not always met the model and the standard that was originally set out’. The aim will be to consult on major or longer-term tax policy changes at an earlier stage, which could be at the Budget or in the Spring, and to announce most policies at least 16 months before they come into effect at the start of the next tax year. The government also intends to re-introduce an online consultation tracker.

Brexit legislation, the government notes, is likely to merit ‘exceptional treatment’ within the consultation timetable. See http://bit.ly/2ABgqss.