London: +44 (0)20 7236 2601
St Albans: +44 (0)1727 869141
Rickmansworth: +44 (0) 1923 771010
Milton Keynes: +44 (0)1908 605552

Protocol for retrospective legislation

The Government has announced a new protocol on changes to the tax law.  Retrospective changes, if not announced in the Budget, will only be introduced where:

  • there is a significant risk to the Exchequer; and
  • significant new information has emerged to identify this risk or indicate its scale; and
  • an immediate change in the law is expected to prevent significant losses to the Exchequer.

A change in HMRC interpretation of the law, which has not been prompted by a court ruling, will not be regarded as ‘significant new information’.

I am not sure this is reassuring in terms of certainty!

 

 

Date: 6th June, 2012
Author: Cathy Corns

SHARE THIS

Articles from this Author

Contact Business Service Partners

Choose from the drop down menu below to select a Partner to contact.

Tweet

We are delighted to continue our player sponsorship with @MKDonsFC @LeeNicholls is a safe pair of hands for the cl… twitter.com/i/web/status/1…

Business News from Mercer & Hole Accountants - Considering outsourcing your financial functions? Read on... mailchi.mp/stalbans-chamb…

Follow

LinkedIn

For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole

Click here to follow us on LinkedIn