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Detail of outcome
Responses to the consultation were positive, with contributors welcoming the decision to legislate to maintain the effect of these 4 concessions.
Respondents generally approved of the draft legislation and agreed that the effect of the extra-statutory concessions had been successfully replicated.
Comments were received about particular terms used and their scope, and the legislation has been updated to reflect this.
Other comments were made about the practical application of the new legislation and these points will be addressed in guidance.
The order was laid in draft 15 January 2018 and is expected to come into effect 6 April 2018.
HMRC is reviewing its ESCs and this is the eighth consultation on draft legislation designed to enact certain ESCs.
HMRC would like to hear from those who have comments on whether the draft legislation maintains the purpose and effect of the following ESCs:
- A37 – Directors’ fees
- EIM3002 – Professional remuneration
- EIM01120 – Financial loss allowance
- EIM61030 – Payments from medical committees to members.