Following a raft of announcements in Budget 2016, there will be extensive consultation over the summer and autumn to iron out the details for new tax measures, as well as the much-anticipated digital tax accounts, which are set to be rolled out from 2018 onwards.

Confirmed consultations for issue this year include the following:

1. Proposals to align the dates by which an employee has to ‘make good’ the cost of their benefit-in-kind to reduce their tax liability;
2. Company car tax: reform of the bands for ultra-low emission vehicles (below 75 grams of CO2 per kilometre);
3. Making tax digital – transition to digital tax accounts for business and individuals, plus details on quarterly reporting arrangements;
4. Offshore evasion - new requirement to correct
5. Simplifying the process for applying for and agreeing PAYE Settlement Agreements (PSAs)
6. Tackling the hidden economy: consultations on conditionality, tougher sanctions and access to data held by money service businesses;
7. Introducing a pensions advice allowance;
8. Proposals to clarify the taxation treatment of partnerships in particular circumstances;
9. Options for change to the tax treatment of leases of plant and machinery in response to new lease accounting standard - IFRS 16 Leases;
10. Updating the list of assets that life insurance policyholders can choose to invest in without giving rise to an annual tax charge under the personal portfolio bond legislation;
11. Measures to streamline the tax rules for investors in authorised contractual schemes;
12. Museums and galleries tax relief;
13. Property held through offshore structures- inheritance tax;
14. Proposals on sanctions to tackle illicit tobacco;
15. Duty treatment of heated tobacco products;
16. Aggregates levy: consultation on exemption for laying underground utility pipes;
17. Soft drinks industry levy; and
18. Revised penalty for participating in VAT fraud.

Find out more about the latest open HMRC consultations