As part of the Spring Budget 2023, the Treasury said that it would “bring forward a further set of tax administration and maintenance announcements later in the spring at a Tax Administration and Maintenance Day” (TAMD).
Five weeks later that date was set for 27 April to “outline the action the government is taking to simplify the tax system, tackle the tax gap and modernise the tax system.” Quite what the day would offer was made the more interesting by the fact that on 19 December the government quietly announced a two-year delay in the next stage of its flagship tax modernisation plan, Making Tax Digital.
In the event, TAMD was marked by the publication of 23 technical tax updates, covering areas such as off-payroll working tax collection and decentralised finance (DeFi), and future consultations on transfer pricing and the Help to Save scheme.
We have summarised some of the key areas likely to have a direct impact on tax planning in the months and years ahead. Links to individual measures are provided to explore further details.
The full collection of documents is available online at .GOV.UK.
If you have any questions on how the above will affect your business, then please get in touch.
If you know anyone who may benefit from our newsletters and updates, please feel free to forward this blog or ask them to opt in to our mailing list.