Since the June Budget 2010 the Government have been developing a new approach to tax policy making, with consultation on policy and scrutiny of legislation as the cornerstones.
On 9 December 2010 the Tax Consultation Framework was published in draft for comment. Today the Government are publishing their response to the comments received including the finalised framework showing amendments made to the draft version.
Respondents have generally welcomed the framework as a positive step towards achieving the Government’s aims of predictability, stability and simplicity for the tax system. Many of the suggestions have been incorporated into the finalised framework, while others will be addressed through the guidance and training provided to policy officials.
Responding to feedback from interested parties the Government are also publishing today their updated tax consultation tracker which is available on the HM Treasury website at: http://www.hm-treasury.gov.uk/tax_updates.htm.
The new version of the tracker includes specific anticipated launch dates wherever possible, to help representative groups and others manage their engagement with the Government on tax policy development.