Major tax changes are unlikely

The government has responded to the House of Commons’ Treasury Committee report Tax after coronavirus explaining that some changes were already made in the Budget and explaining why others may not be a priority. 

In his letter to the committee financial secretary Jesse Norman outlined some of the steps taken in the Budget – such as freezing the personal allowances the three-year loss carry back the super deduction and the extensions to the coronavirus support schemes – saying these were ‘consistent’ with the recommendations in the report. 

Mr Norman said: ‘The Budget has set out the chancellor’s medium-term plan for how the tax system will support the government’s broad economic objectives for the next five years. The government keeps all taxes under review and the chancellor will outline tax reforms as part of future fiscal events.’

On reforms to taxing income including pensions the...