ARTICLE · 19 DECEMBER 2014

Weekly Tax Update – Monday, 15 December 2014

Smith & Williamson

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HMRC has published the draft clauses and explanatory notes for Finance Bill 2015, together with the 'Overview of legislation in draft' document, which includes the Tax Information and Impact Notes.

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1 GENERAL NEWS

1.1 Finance Bill draft clauses

HMRC has published the draft clauses and explanatory notes for Finance Bill 2015, together with the 'Overview of legislation in draft' (OOLID) document, which includes the Tax Information and Impact Notes (TIINs). These are available for consultation until:

Complete set of clauses, explanatory notes and OOLID:

www.gov.uk/government/publications/finance-bill-2015-draft-legislation-overview-documents

Clauses, explanatory notes and TIINs by subject:

www.gov.uk/government/collections/finance-bill-2015

1.2 HMRC campaigns' results

To coincide with the start of the new Solicitor's campaign, mentioned in last week's update, HMRC has published some updated statistics on the campaigns it has carried out since 2007. Since then their campaigns have collected over £988 million in tax. A majority of this has come from taxpayers coming forward voluntarily and a smaller amount from a large number of follow-up activities.

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