Treasury unveils agile approach to tax consultations

The Treasury has published a paper setting out principles for the UK Government’s approach to achieving a stable tax system that supports economic stability and promotes economic growth. It outlines the Government’s commitment to predictable tax policy making by signalling a clear direction of travel for the tax system through a single major fiscal event each year with changes legislated for in an annual Finance Bill or other appropriate legislative vehicle.

‘Robust engagement with interested groups’ remains a key principle for the Government according to the document which also suggests that tax professionals find responding to multiple consultations all at once particularly time consuming preferring instead to ‘spread the burden of responding more evenly throughout the year’. As a response the Government ‘will take a more agile approach to consultation by publishing any supporting documents flexibly following announcement’ although it seems not entirely...