Research Briefing
In the Autumn 2021 Budget the Government announced it would introduce a new levy to raise approximately £100 million per year to help fund anti-money laundering and economic crime reforms.
Research Briefing
This Commons Library briefing looks at the public debate over the tax treatment of the banking sector in the wake of the 2008 financial crisis, before discussing the different approaches taken in successive years by Labour, Coalition and Conservative Governments.
Debate Pack
This landing page provides material for two Opposition day debates: the first on VAT on household energy bills, the second on reducing costs for business, to be held on 11 January 2022.
Research Briefing
In the Autumn 2021 Budget the Government announced that it would reform income tax 'basis periods' so businesses’ profit or loss for a tax year would be the profit or loss arising in the tax year itself, regardless of its accounting date.
Research Briefing
In recent years tax avoidance has been the subject of considerable public concern, although there is no statutory definition of what tax avoidance consists of. Tax avoidance is to be distinguished from tax evasion, where someone acts against the law. By contrast tax avoidance is compliant with the law, though aggressive or abusive avoidance, as opposed to simple tax planning, will seek to comply with the letter of the law, but to subvert its purpose.
Debate Pack
A debate will be held in Westminster Hall at 9.30am on Tuesday 16 November 2021 on the delivery of a new Tobacco Control Plan. The subject for the debate has been nominated by the Backbench Business Committee and the debate will be opened by Bob Blackman MP.
Debate Pack
The Stamp Duty Land Tax (Temporary Relief) Bill 2019-21 implements a temporary increase in the stamp duty land tax nil rate band, announced by the Government on 8 July 2020. The Bill completed all of its stages in the Commons on 13 July, and this legislation received Royal Assent on 22 July.
Research Briefing
This note discusses the current, limited, tax relief given for employer-supported childcare, and the case that has been made for wider relief on these costs.
Research Briefing
This paper looks at the recent debate on taxing aviation, in the context of concerns about the structure of air passenger duty (APD), the rates of tax, earlier reforms to APD in the 2014 Budget, and the current Government's consultation on aviation tax launched in March 2021. The development of APD since its introduction is set out in two other Commons Briefing papers (CBP413 & CBP6426).
Research Briefing
For over 30 years businesses in the construction industry have operated a special scheme to account for tax on payments made between contractors and subcontractors. After a long period of consultation, the 'Construction Industry Scheme' was reformed in 2007. This note discusses the background to this reform, and recent reforms to tackle VAT fraud in this sector.
Research Briefing
This briefing discusses the way sanitary protection is charged VAT - more specifically, the Labour Government’s introduction of a 5% rate from 1 January 2001, which was then the lowest rate then permissible due to EU VAT rules, and, more recently, with the UK's departure from the EU, the current Government’s introduction of a zero rate from 1 January 2021.
Research Briefing
This note discusses the Coalition Government’s approach to corporate tax reform since 2010, focusing on the reductions made to the main rate, the decision to set a single rate of tax, and the reforms made to tax reliefs for capital investment. It goes on to examine the debate over corporate tax avoidance and the international efforts, led by the OECD, to tackle avoidance by multinationals through ‘Base Erosion and Profit Shifting’ (BEPS). It concludes by providing an update on these issues up to the end of 2020.
Debate Pack
On 7 July 2021 at 4.50 pm there will be a Westminster Hall Debate on Eligibility for Government support during the covid-19 outbreak. This debate will be led by Owen Thompson MP.
Debate Pack
The Chancellor Rishi Sunak presented the Spring 2021 Budget on 3 March. The Finance (No.2) Bill 2019-21 was published on 11 March, and completed its scrutiny in the House of Commons on 24 May 2021. The Finance Act 2021 received Royal Assent on 10 June 2021.
Debate Pack
A Westminster Hall debate on 'Recommendations for the forthcoming Tobacco Control Plan' has been scheduled for Thursday 10 June 2021. The debate has been initiated by Mary Kelly Foy MP.
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