First impressions of the tax day consultations

Key points

• Call for evidence to support the government’s plans to modernise the tax administration system.
• Further proposals to counter offshore tax avoidance.
• The use of personalising tax returns to reduce taxpayer error in relation to offshore income.
• It is likely to be compulsory for all tax advisers to have professional indemnity insurance.
• Reform of trust taxation put on a back burner.
• New rules to be introduced to prevent value shifting for VAT.

To those of us who work on Taxation magazine every day is a tax day. But imagine our delight when the chancellor announced that 23 March would be ‘tax day’. What would it bring? Would it be a mere palate cleanser after the heavy meal of the Budget or would it in fact be the main course with the Budget turning out to have been a mere hors d’oeuvre? Having got up extra early to savour the full...