Consultation outcome

Extension of security deposit legislation

This consultation has concluded

Download the full outcome

Extension of the existing security deposit legislation to include CT and CIS deductions - summary of responses

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Detail of outcome

This document summarises respondents’ views on implementing the extension of securities, and the government’s response.

This has informed draft legislation for introduction in Finance Bill 2017 to 2018, and will also inform the drafting of regulations which will be published for technical consultation later this year.

You can read the draft legislation, with a supporting explanatory note and tax information and impact note.

Original consultation

Summary

We are seeking views on extending the existing securities regime to Corporation Tax and Construction Industry Scheme deductions.

This consultation ran from
to

Consultation description

The government announced at Autumn Budget 2017 that it will introduce legislation in Finance Bill 2018 to 2019 to extend the current scope of security deposit legislation to include Corporation Tax and Construction Industry Scheme deductions. This will take effect from April 2019.

We are seeking views on HMRC’s proposals for implementing this change to ensure that it is introduced in the most effective way, that the legislation is targeted, and that there are appropriate safeguards.

Documents

Extension of the existing security deposit legislation to include CT and CIS deductions

This file may not be suitable for users of assistive technology. Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gsi.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Published 13 March 2018
Last updated 6 July 2018 + show all updates
  1. Added summary of responses and link to draft legislation.
  2. First published.