HMRC recently consulted on extending assessment time limits, which provoked much criticism in the tax profession, and from the accounting institutes and charities. The consultation is now closed and HMRC published the summary of responses and draft legislation on 6 July 2018.

Subject to final approval and the parliamentary process, the legislation will be part of Finance Bill 2018-19 and the extension of offshore time limits will come into force following Royal Assent. Comments on the draft legislation are still sought by HMRC until it is finalised in autumn 2018, with a closing date for feedback of 31 August.