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Detail of outcome
Summary of responses to the consultation document.
Original consultation
Summary
Seeking views on a limit on currently uncapped income tax reliefs.
This consultation ran from to
Consultation description
At Budget 2012 the Government announced a limit on currently uncapped income tax reliefs which will have effect from April 2013.
Tax reliefs exist for good reasons, to promote activities such as business investment, but it is unfair that reliefs can be used without limit to reduce tax liabilities. This measure will increase effective tax rates and help ensure that those with the highest incomes pay a fairer share.
The consultation document sets out the scope of the cap. The consultation invited comments on the implementation and delivery of the cap, including, in particular, responses to: how an individual’s income will be defined and calculated for the purposes of the cap; when the cap will apply; how reliefs will be ordered; and the operation of the cap through Income Tax Self Assessment (ITSA). The reliefs that will be capped are listed for information only.
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This file may not be suitable for users of assistive technology.
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If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.