Taxation

House of Lords written question – answered on 8th March 2012.

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Photo of Lord Myners Lord Myners Labour

To ask Her Majesty's Government whether they will publish guidance on the circumstances in which they will introduce retrospective tax measures.

Photo of Lord Sassoon Lord Sassoon Conservative

The Government recognise that there is a balance to be struck between improving stability and predictability in the tax system and acting to reduce risk to the Exchequer.

At Budget 2011, the Government published a "Protocol on unscheduled announcements of changes in tax law" in the document Tackling Tax Avoidance. The protocol states that "changes to tax legislation where the change takes effect from a date earlier than the date of announcement will be wholly exceptional".

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