CT payment plans for tax on certain transactions with EEA residents

Part of Finance Bill – in a Public Bill Committee at 3:00 pm on 9th June 2020.

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Photo of Jesse Norman Jesse Norman The Financial Secretary to the Treasury 3:00 pm, 9th June 2020

I am grateful for the question. If we get certainty in the legislation, the effect would be that the provision was no longer required. Certainty could come, as I said, at the successful conclusion to litigation in favour of Revenue and Customs, or when the EU treaty freedom of establishment rules no longer apply to the UK. Those are the circumstances under which we would expect the Treasury to repeal the facility. It is done by regulation simply because it is completely uncontroversial and would be much better handled that way, rather than through the primary legislative process.