A round up of other news this week.
Jim Harra has been appointed as HMRC’s new Tax Assurance Commissioner. The previous holder of this role was Edward Troup, who is now HMRC’s Executive Chair. Mr Harra’s new responsibilities will cover assurance and dispute governance arrangements, with the intention of reassuring Parliament and the public that HMRC is ensuring taxpayers are paying the right amount of tax under the law.
HMRC have published a summary of responses received to their consultation into a new corporate offence of failure to prevent the criminal facilitation of tax evasion.
The Office of Tax Simplification (OTS) have published the responses received to their consultation on their future strategy, ‘Simplifying tax for the future’.
The Capital Allowances Act 2001 (Cars Emissions) Order 2016 has been published, extending the first-year allowance for cars with low carbon dioxide emissions for a further three year period ending on 31st March 2021. It also reduces the qualifying emissions threshold for the first-year allowance from 75 grams to 50 grams per kilometre driven and reduces the qualifying emissions threshold for the main rate allowance from 130 grams to 110 grams per kilometre driven, in relation to expenditure incurred on or after 1 April 2018.
The Individual Savings Account (Amendment No. 3) Regulations 2016 have been published. They extend the range of investments that can be held in an ISA, by making certain debentures (including those offered via crowdfunding) eligible investments for the innovative finance ISA from 1 November 2016.
The Data-gathering Powers (Relevant Data) (Amendment) Regulations 2016 have been published, specifying what relevant data an HMRC officer may require from two new categories of data holder - electronic stored-value payment service providers and business intermediaries.