Treasury sets date for consultation responses

THE TREASURY will publish the responses to the various consultations on tax changes announced at the 2011 Budget by 6 December, it has announced.

The consultations include proposals on controlled foreign companies legislation, reform of non-dom taxation, a statutory residency test, a Northern Ireland corporation tax, the patent box and research & development tax credits among others. The deadlines of many of these consultations were last week.

David Gauke (pictured), Exchequer secretary to the Treasury, said: “As part of the next stage of consultation draft legislation for these measures, to be included in Finance Bill 2012, will also be published on that date. This will be supplemented by draft Explanatory Notes and Tax Impact and Information Notes. The draft clauses will be open to consultation until 10 February 2012.”

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