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HMRC have published a consultation document entitled Extra-statutory Concessions - Second Technical Consultation on Draft Legislation, which examines the draft legislation needed to give legislative effect to a number of ESCs following the House of Lords decision in the Wilkinson case. The Wilkinson case made clear that the scope of HMRC’s administrative discretion to make concessions that depart from the strict statutory provision is not as wide as previously thought. The purpose of the consultation is to ensure that the draft legislation successfully preserves the current tax treatment under the ESCs concerned. Most of the legislation is by Treasury Order made under an enabling provision at Finance Act 2008, s. 160, while some is made under powers that existed before the 2008 enabling provision was enacted. The consultation document can be found on the HMRC website at www.hmrc.gov.uk.
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About The Author  Sarah Laing Sarah is a Chartered Tax Adviser. She has been writing professionally since joining CCH Editions in 1998 as a Senior Technical Editor, contributing to a range of highly regarded publications including the British Tax Reporter, Taxes - The Weekly Tax News, the Red & Green legislation volumes, Hardman's, International Tax Agreements and many others. She became Publishing Manager for the tax and accounting portfolio in 2001 and later went on to help run CCH Seminars (including ABG Courses and Conferences). Sarah originally worked for the Inland Revenue in Newbury and Swindon Tax Offices, before moving out into practice in 1991. She has worked for both small and Big 5 firms. She now works as a freelance author providing technical writing services for the tax and accountancy profession. |
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Article Added Tuesday, 21 July 2009 | 1241 Hits |
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